Ridiculous asking prices in FerrariAds

Some folks just don't do any research before figuring-out what to ask for. People get-in over their heads, maintenance-wise, and think they can re-coup the full-boat investment during a sale: Car Street Value + Recent Maintenance Bills + 'recent sweat equity' + Detailer's charges + aftermarket upgrades = asking price.

I've also heard of the tactic of sellers asking for the absolute MOON to discourage tire-kickers. This strategy always backfires - it discourages everyone.

 

+1 - validated when items go long periods of time without being purchased.

 

I think a lot of folks will put a crazy number out there to see if some unknowledgeable person bites.

 

1. I think people here tend to think of their Ferraris as something rare and special and ask the moon for them. Also some buyers tend to believe or at least hope that a car listed on f-chat has been better maintained then all the others.

2. Maybe the car is not for sale, there was a boat for sale at the harbor for many years, it turned out he was being forced to sell it for a divorce settlement, he put the boat at a high price with no intention of selling it but told the judge it was for sale, that actually worked for about 3 years before he was forced to pay a reasonable amount to his ex and had to list the boat at a realistic price, I would think most judges are smarter now.

3. remember those are asking prices, there is nothing wrong with making a reasonable offer, worse that happens is that they tell you where to go, no one will force you to go there.

4. ebay does not always work, I tried to buy a car here on f-chat before I got my 360, seller was asking a high price and I offered what I thought was reasonable + a little more because I liked the color, he would not take my cash. Car ended selling on ebay for less than I offered about 4 months later.

 

It's Roger Penske's PERSONAL car!

In Austin......

Nice options, buy it....or not...

 

I don't think (at least with this car) that the asking price is any more ridiculous than what a lot of dealers are asking on ebay/autotrader/DPR/etc.

 

Good point.

 

Many are buying modern F cars anticipating investment grade values and appreciation factors. Modern F cars are not limited production and are meant to be driven and enjoyed. They are not the hand made one off F cars of yester year. Turning one of these into a garage queen has a proven track record of requiring more maintenance from lack of use than daily drivers.

Does it really matter if Roger Penske previously owned the car? Not to me. Maybe someone else is willing to pay an outrageous premium to state they own a F car he once owned.

 

It's like that on every online car forum. Prices on rennlist are 25-50% above going market values. Enthusiasts seem to think their car is worth more than any other example and seem to feel that others will recognize that as well. The market makes the ultimate determination.

 

And the point of this thread is.....?

 

Ferrari value thread number 7,592.

 

I was just going to say that... it was ordered by THE Roger Penke!

 

I've teased Roger before, but we were on opposing escalators.....

He's a Ferrari guy, Autoweek caught him once, testing his F40 at Indianapolis Motor Speedway.

As to the ask prices, I feel FerrrariAds is a lot like the FCA Newsletter, the car was owned by an enthusiast, and more likely properly cared for. I'd pay for that over some coke addled South American drug lord, that used it in that manner, or an NBA baller!

 

Regardless if it is a Ferrari or not. When I see a car parked in front of anyones home for an eterinty with a for sale sign I have often wanted to stop and leave a note:

"If it take this long to sell a car, you are asking too much!"

 

If you're asking way too much and you've only got it listed here then you're not too serious about moving the car. Other than CL where else are you going to advertise for next to zip and get any eye balls? Problem is shoppers will recognize it sitting around so you run the risk of a stale ad after a while.

 

True dat

 

For me, I would pay more for a car that's a well known Fchatter than just some unknown person on Ebay.

 

I have found 'Ferrari enthusiast' stops when the check-writing begins - and then another type of 'enthusiasm' takes over. One that says "I'm not going to spend money to make money" in a selling situation - people sell to cut their losses. Nobody sells a 'perfect' car - if it was perfect, the seller wouldn't be selling it in the first place, they'd be driving/enjoying it. If a buyer isn't walking in with that mentality, he's going to lose his shirt in this game. Half the battle of a PPI isn't to uncover what maintenance HAS been done, its to uncover what maintenance the owner has 'skipped' to save money and uncover how much that's going to cost the buyer to make the car right. Assuming that a car is 'properly cared for' because the PO wants to claim he's an 'enthusiast' is a dangerous and often-false assumption, a dirty secret FChat pulled the covers off-of long ago. FChat is proof-positive how shockingly ignorant the average owner is regarding the maintenance needs of their own vehicles, and what the real-world costs are for that maintenance. Over-pricing just adds insult to injury.

 

Truer words have never been spoken.

 

Are you kidding me! A car that has a bullet hole in it PROVES that it was the car or Pablo Escobar! Hell it's probably worth extra if he was offed in the car while driving it. Just like those potato chips that Elvis was eating the night he died. Big Bucks!

And as for being owned by a big sports hero. The thought that some big name sports star got a BJ by Carmen Electra on the same seat that you're in.. that HAS to make it worth more by vicariously improving the drivers "stamina".

 

I think in some cases owners want to ask a higher price thinking as they "negiotiate" the eventual price settled on will be higher. In other words, ask 20% over market, then come down 15% while haggling and you still get over market a bit. The irony is that many of these guys are fairly savvy at business deals and would never fall for the tactic if they were the buyer.

It is not just Ferrariads, Ebay and especially CL have people like this too, not just Ferrari but all toys. These cars and bikes just sit and sit and sit for months in some cases.

For motorcycles, about this time of year sellers especially dealers will jack up asking prices with spring right around the corner.

 

Not.