Cars and bids will always be lower final price than bat for high end cars. it’s not the market softening on these cars, it’s the market sucks for all things right now. I own multiple online retail businesses, and the market is dreadful at the moment. The media won’t report it, but our sales across all platforms (Amazon, Walmart, our own sites. Etc) and all demographics are in the toilet. 20% down year to date. 40+ % down from 4 yers ago. debt is at record levels. Cost to service debt is at record levels. Price index is up 20%+. Uncertainty in the political sphere. it’s going to be a bumpy road for a while. great time to buy if your a cash buyer!
I don’t doubt what you’re saying at all, but I’m afraid that can’t be all of it. For instance, people in my type of business (besides music I’m in parking lot and Primary/Secondary route maintenance for the state and localities) are waaay up vs four years ago. I’ve set records the last two years and I’m 215% up vs this time last year. Please don’t take that as braggadocio; merely an illustration of the shell game. I hate to even mention it considering what you just shared. In my case, things were the exact inverse of what you describe from four years ago - state offices were closed and private clients weren’t too keen on dumping hundreds of thousands into parking lots because they weren’t sure if their tenants were going to stay or continue with remote operations. Exception was car lots. They were full-on in a way I’d never seen. Clearly, the car market was superheated. I think it is receding a bit, and…ok, whatever. It was bound to happen…but I do know quite a few people who are doing very well right now and I’m the only one buying cars Most people I know who are have similar businesses are more interested in trucks and boats and ATVs and beer (none of which hold an iota of appeal for me) so maybe the funds have temporarily shifted to industries with people who don’t care as much about sports/exotics? I don’t know. All I can do is guess based on what I observe. In spite of all that - it all comes around again. Patience is key.
Congrats on the biz! Don’t take it as bragging, just happy that some are seeing good fortune. Very different than retail and luxury good sales though. Right? there are always sectors that do well in each economic cycle. My point is that sales, and specifically retail sales, are not doing well. Coupled with the political unease, it’s not a great time for most to be able to buy via finance. Yes, if you can buy with cash, you’re good to go as deals are abound. Most these days are not buying with cash, but with leveraged or financed money from what I see. Those on the fringe of being able to really afford these toys.
I had seen several car dealers repaving their lots, it surprised me. My neighbor owns several car dealerships. He said he was paving his lots as they were starting to show a little wear and he was making a ton of money and had to invest it or pay taxes on it.
Yep, I did A LOT of dealer work in ‘21-‘22. I would talk with the GMs and they would practically be laughing about how much they were moving monthly in spite of limited new inventory. Craziness.
I don’t disagree at all, makes perfect sense. I probably have a more pessimistic view of the near term value of 90’s/00’s V12s in general. Not that I really care, because I’m happy as a clam with mine and quite frankly tend to favor “underdogs”, as ridiculous as that may sound as applied here. I know as we all do that things change, too, so ehhh, no biggie
Within most pragmatic price ranges, valve should only matter if you’re in the market to sell or buy (IMHO). Otherwise I could care less, as would be (my expectation) for any dire hard.
Yes, let’s please not get on each other for grammar. I rarely use caps and punctuation when on an I device! I don’t want to be attacked either! lol.
I’ll admit that, while I would never correct anyone, visions of my 9th grade English teacher pop in my head and I cringe just a little, haha! Sometimes it is the fault of the device. I know my iPhone has a talent for mangling grammar. No judgement, carry on
This is my car. Working with one of the bidders now to hopefully close it. Great car, but again, I bought it to drive and enjoy. It's in great overall shape, but the higher mileage and it being a Euro car does obviously keep the value down, and it's why I got it for a lower price than a comparable N/A market car to begin with. I think the real money in this car is about $120-125K USD, which is a very good value (IMO, of course), for a well-sorted 550 with a recent major. I'd honestly keep it forever, but having purchased my "final boss" ultimate dream car last year, something's gotta give. I have six summer toys, a very short commute, and only five months of the year to enjoy them.
Totally makes sense. My wife constantly busts my chops about how none of the toys gets used at our house….it would be great if I didn’t work 6 days a week and our kids were older….patience on my end. Heck my 550 has STILL been at the shop since May 2nd…..
I was so curious I searched the bat comments for it. I was wondering what could be better than a maranello. Racing legend owned Diablo. Yep that makes sense.
