Where/how to sell a modern Ferrari privately? | FerrariChat

Where/how to sell a modern Ferrari privately?

Discussion in 'Ferrari Discussion (not model specific)' started by blabus, Jan 15, 2021.

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  1. blabus

    blabus Rookie

    Nov 28, 2018
    42
    San Francisco, CA, USA
    I go through cars fairly frequently and have bought and sold several Porsches and Audis through private sales (i.e. private buyers/sellers, not dealerships). I have a 2018 812 that I'm looking to offload, but there doesn't seem to be a very active private market for modern Ferraris that I can find anywhere online; Autotrader has very few listed by private sellers, and even the "Individual" classifieds section on these forums seems to be fairly dead, at least compared to the classifieds section on Rennlist.

    I've chatted with two Ferrari dealers who are offering about $45k below what the car would likely sell for, or alternately are asking about 6% commission to consign. That's still a good chunk of change on a $300k car, so I'm keen to sell it privately if possible, but curious if anyone has any advice for doing so? Is there a market for private sales of modern, higher priced Ferraris? Or should I just eat the commission and go the consignment route?
     
    Texas Forever likes this.
  2. ScottS

    ScottS F1 Rookie
    Owner Rossa Subscribed

    Mar 2, 2004
    2,900
    Winter Park
    Full Name:
    Scott S
    #2 ScottS, Jan 15, 2021
    Last edited: Jan 15, 2021
    Either way you’ll likely discount. Unless you have a special car or truly unique spec or a fully loaded car.


    My opinion- if you list here or RL or eBay in order to move a high end car retail pricing is out. Most cash buyers want a discount for the ease of transaction and currently it is a buyers market.

    FOR SALE - 2019 812 Superfast
    https://r.tapatalk.com/shareLink/topic?share_fid=9080&share_tid=632848&url=https%3A%2F%2Fwww%2Eferrarichat%2Ecom%2Fforum%2Findex%2Ephp%3Fthreads%2FFOR-SALE---2019-812-Superfast%2E632848%2F&share_type=t&link_source=app

    2019 Beautiful spec and 445k msrp at 90k off. That’s a discount. I’m looking at my dealer has a high spec as well with 600 miles. No one is touching for less than 90k off discount. There’s steeper depression ahead.

    There are brokers here as well. It seems like their sales are even more discounted than the dealer.

    For my time and money consignment at the Ferrari dealer is best value.

    Assume 350 retail pricing. With 6% your sum is 329. That gives you access to their customers and easy cheap financing as well as traders.

    You can try to sell for somewhere between retail and consignment but you’ll be more limited. Flip slide more serious buyers actually look at private sales


    Unfortunately it’s a buyers market. There are five or six sitting at my local dealer. Take the hit but get the ease of sale for the exchange.


    Sent from my iPhone using Tapatalk
     
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  3. Smiles

    Smiles F1 World Champ
    Lifetime Rossa Owner

    Nov 20, 2003
    16,614
    Pittsburgh, PA
    Full Name:
    Matt F
    Good post. It is indeed a buyer’s market.

    I sold two cars on Bring a Trailer. The 1952 MG TD got a lot less than I was expecting, and the BMW M3 convertible got a lot more. And it’s very cheap to list, and buyers are pre-qualified. If you list no reserve you’re going to sell, and at a fair price.

    Matt
     
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  4. Dave Bertrand

    Dave Bertrand Formula Junior
    Rossa Subscribed

    Dec 24, 2005
    770
    Castle Rock, CO
    There's always the auction route, too. Barrett-Jackson, Bonham's, RM Sotheby's, Gooding, etc. Collector cars and luxury marques are commonly sold at those places.

    Selling an expensive car privately is difficult unless it's a limited edition model and you are known to other collectors. The more accessible Ferrari models seem to be mostly sold on consignment at luxury car dealers as well as Ferrari dealerships. But don't overlook Bringatrailer either. Several Dino 246 GTs have been sold and there's a yellow one there now at 275k with 10 days to go. Last week a Daytona sold for 507k. Some cars even sell for over a million on BaT. What I don't like about BaT is that the auctions only last for 7 to 10 days, so to get top dollar you need to have the right eyes looking at your car at the right time.
     
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  5. NYC Fred

    NYC Fred F1 Veteran
    Silver Subscribed

    Sep 28, 2010
    9,665
    Fort Lauderdale, FL
    Full Name:
    Fred C
    There are currently 44 812s on DuPont Registry...some w as low as 90 miles.

    May give you a feel for the "market"
     
  6. ScottS

    ScottS F1 Rookie
    Owner Rossa Subscribed

    Mar 2, 2004
    2,900
    Winter Park
    Full Name:
    Scott S
    90 on cars.com.


    Everything sells at market price. Buyers market.

    Consignment is convenience.
     
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