WHY WOULD ANYBODY

What car are you referring to?

 

If I had to guess…the recent BaT 355 GTS.


Edit. Wait lol, my math is way off. Who knows.

 

The market is insane. It's going to crash and a lot of people are going to be hurt really really bad in the pocket book. Have you guys seen what people are paying for a 430's? It's just stupid..

Up here in Canada..our housing market has gone nuts. All of a sudden everybody with a house is a millionaire..huge equity almost over night to draw on. Now we have folks buying expensive cars by using this new found "wealth" which is driving up the demand/price. But it's not only cars, it's across the board with all luxury goods. Watches, handbags, shoes, fashion etc. It's crazy.

Now with interest rates projected to rise to help cool inflation, the price of fuel to power that dream car is on the rise..look out folks stuff is about to get real. Be ready for an influx of luxury items to flood the market. I'll bet it starts mid next year.

 

First you say "Mine is up for sale", then at the end you say "it's not for sale". Is it?

And I agree about people, especially on BaT, paying ludicrous money for cars these days. That $235k F355 was absurd. That's about 100k over market value IMO. Dealers are asking 300k+ for 488s and will not haggle. What a horrible time to buy a car. Great time to sell one.

The stock market and housing market are making people rich, at least on paper. When that party ends, prices will fall back to Earth.

 

What you’ve round about described is why some cars are selling for big money. You’ve got an excellent 328. Someone wants to own it. You don’t want to sell, unless the money is absurd. The interested party either pays up or doesn’t have the car. It’s that simple.

Then there’s the “but you could buy xyz for that or less” argument. So what? Maybe a buyer dreamed of owning a 328. Maybe his dad had one. Maybe he had a poster so that’s his vision board car. Assessing value isn’t as simple as what else can be had for the same money. I’ve got a warehouse full of cars including several Ferraris and I’m sure people say you could have got this or that for the same money, but the fact is I didn’t want this or that. Or, maybe I already have the this or that and I want the 328 too. Am I “desperate” or “stupid” for spending money on things I like/want? And if I am, why do you care as long as it’s not your money I’m spending?

 

It is not guys like you who are driving the market.

 

Why would anybody???

Because they can.

Sent from my Pixel 3a XL using Tapatalk

 

They can..for now. That is the scary part.

 

First Gen Ford GT from the 90’s? You mean early 2000’s?
That 1 mile 512 is probably worth more than $500K TBH

 

Some of the recent wealth creation is undoubtedly real, but there are also likely a lot of dreamers who are banking on new home equity and/or crypto gains that they maybe shouldn't be borrowing too heavily against.

 

From your comments I don’t think you’ve been following the 355 market closely for the last couple of years, particularly the GTB/GTS stick market. Similar cars have been selling for nearly 200k for some time, and the BAT car being a ‘95 it pushes a bit higher. This isn’t even getting into the nicer challenge cars that have been over 200k since ‘16. I suspect some cars will drop from the highs and others, like 355 stick coupes, will continue to make new highs.

 

I don't know who those people are on BaT, but they sure do like paying top dollar for some cars in questionable condition.

 

I think the manual cars will hold their own and appreciate in the future, albeit at a slower pace than currently. also, IMO the exotics aren't effected as much by inflation. the standard cars/homes etc are much more market sensitive/reactive. I just bought my first, a manual car. was not cheap, but i think for years to come old and young will yearn for a true manual exotic. just my two cents, now back to your regularly scheduled program.

 

Nothing new here. Saw it in the 80s, saw it in the late 90s/early 2000s, saw it in 2008, here it comes again. I call it the soufflé effect. Hot air puffs it up and it looks great, but once you cut into it what you have left is an old car. Fun to drive, but it’s still just an old car. Cars are assets, not investments.

 

Supply/Demand still underpins price.

You have to consider production numbers

7,500 328s (+ ~12,000 308s) = that 20,000 in that 'style' body. Many folks will be perfectly content with a 308gtsi vs a 328. Most of the public won't be able to tell the difference.


vs

4,000 Ford GTs
3,500 599s
2,200 512s
600 599s GTOs

When you have up to 5X-20X more of a car, well - expect the price to be 5X-20X less.

How many 18-year-old cars have a mileage of "1" (heck, let's just say under 100) - this will inevitably garner a higher price. Mondial Ts with less than 1000 miles will get $100,000+

 

There's a difference between logic and lust

That's why

Logic says you get so much power and performance for X amount
Lust says you want something just because you want it for Y amount.

The moral is: People buy the dream they have.

 

Ha... My buddy bought that car.

 

People paying record prices arent agonizing over a choice. They are buying whatever they want. Not choosing.

Im sure the buyer already has a 458, or 488, or whatever else they want.