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What is a “long time” for a FCar to be for sale on a car lot?

Discussion in 'Ferrari Discussion (not model specific)' started by BLAMPEE, May 23, 2020 at 1:05 AM.

  1. BLAMPEE

    BLAMPEE Man Card Status: Never Issued
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    Looking at a couple Cali’s that have been in inventory for two months with no price reduction.

    At what point do dealers usually give up and send the car to auction?

    I’m looking to get an amazing deal and have no problem waiting for that car to come my way...
     
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  2. pilotoCS

    pilotoCS Formula 3
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    May 19, 2019
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    Willis B.
    Have you actually asked said dealers if they are willing to negotiate, or just cruising their websites/advertising?
     
  3. SAFE4NOW

    SAFE4NOW F1 Rookie
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    Aug 25, 2004
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    ....a year... 364 days is a good time to make a low ball offer.

    months, sometimes it takes that long just to recondition a Ferrari for sale.

    IMO that is,

    S
     
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  4. ScottS

    ScottS Formula 3
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    Mar 2, 2004
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    Many factors on negotiation. Just ask. Simply. I would be interested, is there room for a price reduction ?

    The floor plan costs are real. If inventory is moving they are low. If in general inventory is sitting, be aggressive.

    Went to my dealer they said business is ok. It’s different. But the numbers are ok.

    Steve is right. Depends on the car as well. Reconditioning etc.

    In Florida seasons don’t matter as much but in New England, maybe so right now you’re about to lose that factor.


    Sell in the spring, buy in the fall
     
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  5. Cobraownr

    Cobraownr Formula Junior
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    Feb 6, 2008
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    Who owns the car being offered (the dealer, or a private owner who has a dealer selling his car on consignment) is a big factor in the time frame for negotiations. Consignments introduce a third party (the owner) into negotiations who sometimes (often?) has an inflated idea of the market value of their car. They may not have any carrying costs for the car so can afford to let it sit for a long time. Example: I inquired about an FF that had been in a dealer's used inventory for over eight months at an uncompetitive price. The sales rep beat around a small bush but essentially said that it was the owner that was the obstacle to lowering the price. I suggested they start charging the owner a daily storage fee to increase his motivation to sell.
     
  6. Viperjoe

    Viperjoe Formula 3
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  7. Shark01

    Shark01 F1 Rookie

    Jun 25, 2005
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    During my search, it wasn't too unusual to see cars for sale for 2-3 years....and the sellers the least flexible. Then you have sellers like a jacknut on forums that drop prices every few days, so it's hard to take it seriously
     
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  8. LARRYH

    LARRYH F1 Veteran
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    Jun 3, 2011
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    virginia usa
    I think the better approach is if you see a car at a dealer that you like and are ready to buy just make an offer .. you will
    quickly find out what the real price is.. I do this all the time personally I prefer to do it by email and not give a phone number asking for a reply by email .. I always get a response and I offer what ever I am willing to pay sometimes it is far below the asking price... you will get told no a lot but I have always gotten a car that I like for a price I am willing to pay Ferraris for some reason are frequently advertised for far more than market.. So for example I bought my
    barchetta for six figures below the asking price with little hassle ....I have had similar results with many cars....thing is to know what the car is really worth and if you are willing to pay that simply make an offer..
     
  9. ScottS

    ScottS Formula 3
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    Yes. Makes sense. Motivated sellers will sell, others will wait.
    How do you distinguish yourself from the myriad email,low ballers?
    I mean how do you establish your credibility ?

    I have a car I’m selling now. Guy comes and generally likes it but points out the flaws. In the end, we were a small amount apart. I can wait for the perfect buyer. But after a bit to see, I just texted I would accept their offer. A buyer is better than no buyer if you want to sell. If you want a specific price, then you wait.

    ScottS
     
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  10. Alcav5

    Alcav5 Formula 3
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    In 2016 I watched Miller motors offer my '15 Cali T I traded in for one year before it sold. Obv their initial asking was too much.
     
  11. LARRYH

    LARRYH F1 Veteran
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    Jun 3, 2011
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    intersting question I do not tell them anything about myself ... I do not do low ball offers I just offer what I feel the car is worth.. I get a response every time ... I usually don't talk to them until we have a deal... but it would not be hard for a Ferrari dealer to see who I am or any of us are..
     
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  12. 4rePhill

    4rePhill F1 Veteran

    Oct 18, 2009
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    Not relevant to the American market, but here in the UK, it's not uncommon to see some older Ferrari's for sale for 2~3 years or even longer, especially at car dealer's who are not Ferrari specialists.

    The problem is, the selling dealer's can be unrealistic about the value of the cars, and refuse to lower the price, determined that someone will pay what they're asking for them.

    I know of a 400i in need of a bit of tidying up, that was bought by a car dealer almost two years ago at auction for @ £25K, which was put up for sale straight away for @ £50K, without any work being carried out on the car at all, and it is still for sale for @ £50K - The dealer is determined to double their money on the car. The thing is, the price they paid at auction was pretty much the retail value of the car at the time, and, the UK Ferrari market has been slowly dropping over the last 3 years, so there is no way anyone is going to buy it for @ £50K. Rather than cut their losses and just move the car on for something around what they paid for it (or take a slight hit on the car), they are refusing to lower the price.

    One of the strangest ones is a blue 328 GTS that was for sale for @ a year at a car dealer's (a sports car specialist - But not a Ferrari specialist ), that was priced at £60K (which was a low end price at the time). The car wasn't selling, and so the adverts were taken down for a month or so, and then reappeared, with the car priced at @ £65K. The car still didn't sell, so the adverts disappeared again for a month, and then reappeared with the car priced at @ £67K, despite the market dropping in that time. I can only imagine that the dealer feels that it was the low price putting buyers off, so thought if they made it more expensive, buyers would be less wary of the car.

    The Ferrari specialists are more realistic with their pricing in the UK, and adjusting their prices to suit the market, but sometimes, with cars for sale on consignment basis, the owner of the car refuses to accept that the market has dropped, and refuses to allow the price to be lowered, despite the expert advice being given to them about the cars real value. Then they blame the specialist for failing to sell the car.

    The other problem here in the UK right now is that a lot of people bought their cars when the market was still rising, paying high prices for them. Now the market has dropped back, but they are still trying to sell their cars for what they bought them for. I know of a guy on "Pistonheads" who bought a 1985 Mondial QV two years ago for @ £40K, who was trying to sell it for £45K for the best part of a year, refusing to lower the price. I told him on the Ferrari forum section that in my opinion, based on the colour combination (silver with red leather interior - Not the most popular in the UK), and how the UK market was, the car was at least £5K~£10K overpriced, if not more (for some reason, the "Pistonheads" Mods decided my advice was a personal attack on another member, removed my post, and threatened me with a ban! :confused:). In the end, the Mondial was put onto an private, on-line auction site, where it sold for £34K :rolleyes:

    At the end of the day, realistic car dealers know that you have to be a bit flexible to make a sale, and to move stock on (sometimes even making a loss on a vehicle if it's sitting around too long, just to move it on), and unrealistic dealers, who stick to their guns (and their prices), end up with a lot of dusty cars!
     
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  13. Husker

    Husker F1 Veteran
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    Dec 31, 2003
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    I generally don't try to get into what I think a car is "worth" when making an offer because there can be any of a hundred different opinions on that, as it is a purely subjective term. We aren't going to be successful convincing the current owner of the car that this or that is wrong with it and so it isn't worth as much as they think. That's an exercise in futility and potentially hurt feelings. I generally just figure out what I am willing to pay and say "that's all I can pay for it, I know that it is probably worth much more than that." That way, no arguments. What I am able to pay isn't subjective. Whether the seller accepts it is out of my hands.
     

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