Today's Ferrari Market in Part Driven Down by Self-Fullfilling prophecy Doomsayers

He can more than afford to drive the Ferrari into the ground and replace it when he's done with it. I don't own a Ferrari "yet", but when I do ... I will want to drive it often. But at the same time ... Preserve it so that it will last a long time.

 

except Jim takes great care of his cars, they get washed after he gets them dirty and they're maintained. He doesn't "drive them into the ground and then replace them...", he just keeps driving them.

Now, unfortunately there ARE people like that, seems like they enjoy abusing the cars and posting videos on YouTube of themselves doing stupid things, like on the Gumball, but I'm guessing they are burning up their parent's trust funds or something

For us, owning these cars is a luxury and a privilege; we pile on the miles but keep them maintained and as clean as I can.

 

I can see how very small pockets of owners/sellers/buyers could affect the prices of limited production models, but it would not be anything to do with their opinions. It would be guys like Cats or Sackey who pick up a lot of the available Countaches, Muiras and 6.0 Diablos, or how CNC is cornering the 550 market right now. They're actual buyers, not related to any opinions they post here or in newsletters.

Overall though, it's a little ridiculous to think that the manual 360 market (or even 328s) is controlled by opinions here. Too broad of a seller and buyer base.

 

Maybe two camps...but i think its a spectrum. On one side you have a guy that could afford the right ferrari under the right circumstances and on the other end is a guy who can buy a ferrari and not give one **** about ANY detail after the purchase (sounds really awesome). Of course...IM SURE...everyone who is seriously looking into buying one would LOVE to drive the hell out of their cars...but if money is not growing on a tree out back...you have to find your spot on the spectrum to make it work. ...And why not TRY?! Who wouldn't want to attempt a ferrari purchase if you can find a way to make it work?
I think its kind of a narrow point of view when i see members chime in about how "if you care that much about depreciation/value you shouldn't own a Ferrari..." ...coming from the dude with 5 supercars listed in their profiles. They cost as much as houses...why not give the money spent the same respect as real estate (if you "need" to...)

 

It's true. Anyone can air an opinion here, and pick a fight.

 

Agree.
Lots of people have made money owning Ferraris.
Lots of people have lost money owning Ferraris.
Some vocal folks on this board appear to think the latter is heroic, the former somehow heinous.
Likelihood is it will all continue like this.
Personally I don't judge the chap who bought a 458 and enjoyed it and saw its value go down better or worse than the chap who bought a Dino ten years ago and is selling it now.
Although - making a bit of money out of doing something you love - why not!

 

How does it appreciate? If the price goes up 20% does that mean there is now 20% more car?

 

I don't see the correlation on how "notable people in the Ferrari world" can move a market down by opening there mouths? As stated a few posts ago, people marking cars on the way up via creating prices out of thin air can sway a market? So what, are people putting cars up for sale for much lower prices to make the market go down on purpose? I don't think so. Transactions talk, words and fictitious prices do not. Once this whole cycle has run its course, the price threads will start to fade into the obscurity in which they came. Should be nice!

 

Please don't take this as condcending. Maybe you are being sarcastic and I don't understand your comment... BUT...

Appreciation doesn't mean something has to become physically larger. That would be growing.

Appreication would be an increase in value not an increase in size.

So yes... if the price goes up and the object is the same before the price increase and after the price increase... then it appreciated. It gained more "value"

 

In previous decades you would be right. "money talked bull**** walked" sort of a thing...

Now... a large portion of the market is in what I am calling "mania mode" or "mania motors"

They are all about the quick run up and down, The cars are on FIRE or CRASHING like CRAZY. If its not taking off like a rocket... then its a re-entry rocket plumetting to earth at INSANE SPEEDS and on FIRE as it HITS the GROUND.

The "feel/vibe/talk/word on the street" does have infulence on peoples decisions.

Unfortuantley with all the social media etc... everyones voices can be heard... and many in the car business started learning they could shout that they just sold a car for a record number even though they hadn't and it DID make an impact. It happened quite a bit. Mix in the REAL transactions at those prices and the market moved up all on "word on the street/vibe"

 

+1 on good2go post. We are all entitled to our opinion.
Being a wine lover and a Ferrari owner, I choose to drink my wine not look at it and drive my Ferrari not after drinking my wine....I think worrying about the decreased value of miles ruins the owning/driving experience.

Perhaps that comes from me owning a 2013 vs a vintage Ferrari.

 

They were also tangible art when they crashed 70% in the early 90s.
Get a clue, son.

 

Buying a Ferrari, any Ferrari, is being wasteful and unwise with one's money.

Anyway, is today's Ferrari market being driven down? I don't think so. It wouldn't hurt if it was just a bit.

-F

 

This might be the biggest bs thread i have ever read on FChat

 

It is quite comical. My favorite part is when he mentions "the world population increasing"!

Please hand this man some more shoe-shine wax to go with his shine kit

 

Wait, my cars aren't commodities?

 

I don't think he meant market value couldn't crash but there is value there otherwise. If the market says it's worth zero it can still be enjoyed, unlike a stock.

Any thoughts, son?

 

Darn. I bought an un-smart car. I hate when that happens. Maybe I should just stare at it in the garage for several years and then sell and take a huge loss. That should make it all better.

 

My husband worked in the car industry, specifically dealing with luxury and exotics, for 20 years. It is absolutely correct to say that if you can't maintain the car properly, you shouldn't buy it. I waited for a long time to buy my Ferrari because I knew I'd want it as perfect as it can be all the time.

I also care about my house, but I still live in it and maintain it to the standard it was when built. Again, I waited a lot of years to build the house I wanted until I was certain I could afford it properly.

The problem today is too many people finance themselves into bankruptcy to get what they want now instead of waiting until it makes fiscal sense.

And my car is not an investment. It's art work that I drive. That's why I bought it. If it goes up in value, it doesn't matter because I'm not selling it anyway. That is the model and color I always wanted so I'm done.

 

They won't go to $0, but they can certainly retrace back to the mean.

 

"Today's Ferrari Market in Part Driven Down by Self-Fullfilling prophecy Doomsayers"

but okay when driven up by the reverse ?

 

Exactly! Sounds like the same mindset as Bernie Madoff!

 

i am not a doomsayer but i have around long enough to know stuff only doesn't go up....

 

^ something off on that grammar

 

although this may be a sign of a mkt top......

Dear XXXXX XXXXX,

We are moving this week. After many years at our current location, it is time to move into a larger facility. During the move we will have limited access to our email systems and the main telephone lines. Mike will be in Italy examining a car for a client but you can reach Colleen on her cell at 949-433-2882.

As always we have standing requests for good to excellent examples of many of the more popular models. If you are interested in selling your Ferrari or other exotic, please give us a call or email us.

As of Friday August 5th, our new address will be:

Ferraris-online, LLC
110 E. 16th Street
Costa Mesa, CA 92627

If it's time to find a new home for your Ferrari or other exotic, please contact us. This is the perfect time to buy, sell or trade. Our program of newsletters and client-specific e-mails, combined with a high-profile web presence and a world-wide client-base culled from over 40 years in the Ferrari business, will work for you just as it has for hundreds of other sellers. With thousands of Ferraris sold, no one is better qualified to help you sell your Ferrari or other exotic cars.

If you have a similar Ferrari or other exotic you are looking to sell please email us at [email protected] or call us at 949-646-6086.

To visit Ferraris-online.com now:
Ferraris-online.com Home Page

Look forward to your feedback.

My regards,

M. Sheehan.