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The F12 market in Canada

Discussion in 'Canada' started by BusterX, Sep 15, 2020.

  1. BusterX

    BusterX Rookie

    Aug 24, 2016
    48
    I've been dipping my toe into shopping for a F12, now that I have a spot in my garage. It doesn't seem like the healthiest market. I understand it will always be limited in numbers, but a couple of observations I have made:

    1. The private sale market seems to be non-existent. I assume that most people consign their cars through 3rd party dealers or through their local Ferrari dealer. Buying private from a FC member would seem to be preferable, with perhaps a Ferrari dealer being a close second. It would be great to be able to chat through the history of the car.

    2. The ones that seem to get to autotrader seem to be missing important options, like front lift or the LED steering wheel. So they sit.

    3. I'm not spec sensitive, other than truly crazy color combos. I'm going to stay away from black as well just for maintenance reasons - but black seems to be a really common spec.

    Is the best strategy to try to get the word out with the FCA chapters and hope that I can grab a clean private sale?
     
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  3. Andial

    Andial Formula Junior

    Jun 19, 2016
    371
    You can reach out to Ferrari dealers and those that specialize in similar inventory directly. Some have car finder services and may know of ones not publicly available.
    Silver Arrow, Kulu, Pfaff, Marianetti, Motion Endeavours, Weissach, Blue Star are those I am thinking of.
    Otherwise, your thinking seems sound. The only other option would be to monitor auto trader and see what pops up. By healthy, do you mean values are depressed?
     
  4. BusterX

    BusterX Rookie

    Aug 24, 2016
    48
    Yeah, I wasn't that clear in my post. When I mean healthy, I was referring to there being enough supply/inventory and demand that determining values is relatively straightforward. With very few cars advertised at any given time, I think sellers and buyers spend a lot of time guessing and waiting. Whenever I have purchased cars out of the US, I find the process much simpler or this reason.
     
  5. Andial

    Andial Formula Junior

    Jun 19, 2016
    371
    Canada typically has 10% of the cars the US has. Because of the stronger US dollar, cars in Canada are priced illogically for domestic buyers sometimes. I think as long as you are happy with the price and feel like you aren't overpaying, you should be fine.
     
  6. BusterX

    BusterX Rookie

    Aug 24, 2016
    48
    Do you mean illogically to the high or illogically to the low?
     
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  8. tbuff

    tbuff Formula Junior

    May 15, 2005
    625
    I know FMoA had a black and red one for sale each around 270 recently. I don't see them listed any longer though. They had been sitting for awhile. The white one at 250k has accident history.
     
  9. tbuff

    tbuff Formula Junior

    May 15, 2005
    625
    I know FMoA had a black and red one for sale each around 270 recently. I don't see them listed any longer though. They had been sitting for awhile. The white one at 250k has accident history.
     
  10. ryalex

    ryalex Two Time F1 World Champ
    Consultant Owner

    Aug 6, 2003
    22,546
    Las Vegas, NV
    Full Name:
    Ryan Alexander
    Since you have to pay tax on a private sale there, it kills a lot of the incentive to try and buy or sell a car on your own. Because buyer is just going to go to a dealership for some sense of organization and quality control. Here a lot of states do not tax private party sales, so more sellers want to sell it on their to not get beat up so badly and buyers look to save the tax money.
     
  11. tbuff

    tbuff Formula Junior

    May 15, 2005
    625
    In certain provinces you don't pay the GST on private car sales.
     
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  13. Andial

    Andial Formula Junior

    Jun 19, 2016
    371
    To the high considering the original MSRP in CAD and the current exchange rate with USD.
     
  14. BusterX

    BusterX Rookie

    Aug 24, 2016
    48
    Seems so, yes. The one just listed in Vancouver is a 2017 and as near as I can tell the asking price of $379k is only about 15% depreciation from the MSRP including options for nearly 4 years of in-service time. (Although it's near impossible to find out what the original MSRP pricing is of Canadian cars since the order guide seems to be a state secret.)

    I remember looking at 458s in maybe 2012 or so, couldn't make it happen, and now I'm really kicking myself as you could have driven one for years at no loss at least partially due to currency issues.
     
  15. tbuff

    tbuff Formula Junior

    May 15, 2005
    625
    Curious what trade in values are though. When I had my 360 stick dealer only wanted to give me 60k but ask on them was over 100. So while these asks are high wonder what they trade hands for
     
  16. BusterX

    BusterX Rookie

    Aug 24, 2016
    48
    My guess is they paid something like 280-300 for that 2017?
     
  17. tbuff

    tbuff Formula Junior

    May 15, 2005
    625
    That seems like a huge spread. Is that really the delta in these cars?
     
  18. BusterX

    BusterX Rookie

    Aug 24, 2016
    48

    At $300k, their margin is 20% on their asking price. Seems about right, I think. If I were to guess, Canadians see higher-than-US retail pricing advertized, but don't get an equivalent premium on their trades-ins. This would be across the board for higher end car brands.
     

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