Market Prices 575 Manual vs 575 F1 (conversion costs) vs 550?

I'm with Eric regarding the discounted valuation of post 1975 non-US Ferraris. Has nothing to do whether we like or don't like California politics. Has more to do with evident relative lack of interest in cars identfied as "can't be registered in California" in auctions. Why would a typical buyer pay the same amount for a car he or she will have a hard time selling to the largest state with the largest exotic car buyer base by population and disposable income? Having to make that disclosure when selling has to be present in buyer's mind and consequently must be worth some discount regardless of other factors such as color combos or uique options.

 

California May represent the largest single state buyer base, but the combined other 49 states far far far exceed the buying power of Cali. Florida, New York, and Montana ([emoji6]) combined have huge numbers of registered F cars, traders, collectors, and FCA members that seriously exceed the California market. No, I don’t think one state is calling the shots on value.



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California does not control the market for non-California spec Ferraris or any other exotic. There are plenty of buyers in the other states. We have no emissions tests in the great state of Alabama thank God.

 

Yes. Correct. Also from a purely Ecomonist POV: if 49 dates are not discriminating against a large age and class of cars that California does not allow on its roads, that would greatly increase the demand for those non-Cali-conforming cars in those 49 other states. Obviously those 49 states are not going to retroactively ban those cars. So buy them up while you can! Case in point: Gun and ammo sales are through the roof, because people are concerning they may be banned. It’s all Eco 101.


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It's more to do with Psyc 101 than Econ 101. If I'm in the market to buy an expensive car and know that when I want to sell it I will have to disclose that the car can't be registered in California or Florida or New York or Montana I will be inclined to look for another one that doesn't come with that exception or discount its price to compensate for that restriction. Not everyone looks at things the same way which may explain the thinking of the seller of the two Euro cars recently auctioned on BaT that did not sell.

We're not saying California is "calling the shot". It is more like influencing the shot. If FL or NY imposed that restriction instead of California the outcome would be very similar.

 

Well, the Porsche market is going berserk importing cars from all over the world and they’re selling at ridiculously high prices. I personally toured a warehouse in Miami recently with over 200 imported Porsches and the owner there is making money on both the vehicles and the currency arbitrage. I guess time will tell. But personally I have no qualms about buying euro Ferrari or anything else.


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The Porsche cars that I mention being imported into Florida are selling all throughout the US and sometimes to far off places like Australia. They are selling not on open markets or auction sites but to people on a short list of recipients being notified of available cars. As I understand it they are gobbled up quickly. They are selling to people in the know with big collections. These are knowledgeable and deep pocketed buyers and not people who ride lawn mowers sir.


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Why are you assuming anyone is doing anything like not paying taxes? Where the heck did that perception come from? That’s an inappropriate and untoward comment. Bizarre.


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Here's a hypothetical scenario... Imagine there is a US car and Euro car that are identical in every respect as far as condition, history, documentation, colo(u)rs, options, etc. They are offered for the same price by the same seller. Which one would you pick and why? At what price delta would your decision be reversed?

 

Um most states have taxes paid on registration of a vehicle. Certain states have higher rates than others. There isn’t a state in the us and A that registers cars for people free of charge. So painting people that don’t register cars as scofflaws is kinda stupid and a waste of your time. Better to be fighting the billionaire class and not looking for people in your peer group to demonize.

As for the Porsche collection in Miami, I may have supplied a few of those if it’s the same one I’m thinking of.

root, there will never be an identical spec us and euro car for sale. With that said I will always pick a euro car over a US car. Just personal preference. Spec and Condition remains paramount. The Vast amount of US cars are horribly spec’d. That’s just a fact. Boring and tacky with “all the options”. I prefer no options. I don’t need Daytona seats and Diamond quit leather headliners. I think it looks dated. Tan interiors make me want to throw up. Rosso corsa too.

 

You make excellent and logical points. I agree with your PoV.
And, Aren’t the majority of the Ferrari in the states that are pre 1984ish, - Euro spec? Compare a Euro 308 to the ugly US version for example.


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Danny- At least you are consistent. I disagree with pretty much everything you have said.

 

I’m probably half your age Taz, no offense taken

 

Age is a matter of opinion. Or is it fact, like the “fact” that Daytona seats are a “horrible” spec?

Or is a fact just whatever someone wants to believe?

 

We all like what we like, it's all good as they say. Who cares.

I don't claim to have any special insight into the Maranello market, but in my view these cars sell very much on an individual basis. These aren't Toyotas and the market doesn't behave like it does for a commodity vehicle. Each car we see listed for sale tends to have its own unique set of attributes based on a combination of individual option spec, color combo, mileage, maintenance history (or lack thereof), ownership history, what the CARFAX has on it, etc, plus just the overall presentation of the car being sold. Some buyers may prioritize one or a few things over other items, and we're all suckers for pretty photography. Then all you need are at least two people who really want the car, and the selling price takes off.

The Euro-spec Maranellos I agree tend to be valued less in the U.S. market than U.S.-spec cars. Guessing it's at least partially due to perceptions that date back to the days in the early '80s of sketchy "gray market" cars, including a fair number of Ferraris, that were imported and federalized often to questionable levels of workmanship and legality. There may also be concerns by some buyers over the ability to get the car registered without having to go through too much hassle in certain states, like CA, that have strict emissions testing rules.

 

Chronological age is, of course, a simple number, of which mine is in the seventh decade. However, if you are in good health and maintain a positive outlook and a modicum of fitness to enjoy life, to then age is relative. In my case, my curiosity and enjoyment of well engineered exotic sports cars is the same today as it has always been. If I did not know my age (and was not looking at graying hair and wrinkles), I would guess I was late 30's early 40's. Hope that does not change soon. That is why I have a 296 GTB on order....

"If you didn't' know how old you were, how old would you say you were?" Satchel Paige

 

Spec in my post refers to the interior and exterior color combination primarily. Daytona seats are an added strip of leather on the centers of the normal seats that come stock in all 550s, sometimes with two tone leather, of which I am not a fan of either.