What does Brexit mean for prices???
Discussion
SlartiF430 said:
Don't see much happening imho. Money doesn't vanish overnight and people who buy supercars buy them for emotional rather than economic reasons. I put my money where my mouth is and bought this today. Im 42 and getting older every day. Why delay enjoyment when I can have it today?
of course it wont apply to all cars but a 997 4.0 @ £500+k isn't an emotional purchase, lots of models have been hyped and inflated as investments and could now ease
Some of the over inflated prices on certain cars were always likely to undergo a correction in or out of Europe.
I think the uncertainty going forward will only put people off taking a punt on these cars as the correction could be massive and the risk v reward has changed
I think the uncertainty going forward will only put people off taking a punt on these cars as the correction could be massive and the risk v reward has changed
Edited by RamboLambo on Tuesday 12th July 17:01
Brexit = Pin which will slowly deflate the bubble.
Anyone else fancy "investing" in:
A Speciale at £370k?
Or a 599 GTO at £700k?
How about a 355 for £120k ?
An SV Roadster for £100k over list?
and best of all, the 991 RS for £270k?
Mwaaahahaha
You'll be brave men, I tell you. What upside is there in those trades?
Yes, yes, we're all well aware that rates will go even lower to zero, and that this isn't like 2008/2009 but that doesn't matter because economic uncertainty is enough for purchase decisions to be (wisely) deferred. So if you **need** to realise the profits in your "investments" you're either not going to sell, or going to have take a lower-than-you-want price. And once the first price has come off, then they all do.
If you don't need to sell, and therefore you don't need to realise the paper-profit, then your car was hardly an investment was it? Enjoy it!
Would love to know the thinking behind those men transacting and paying top money today, just to hear the other side view?
Anyone else fancy "investing" in:
A Speciale at £370k?
Or a 599 GTO at £700k?
How about a 355 for £120k ?
An SV Roadster for £100k over list?
and best of all, the 991 RS for £270k?
Mwaaahahaha
You'll be brave men, I tell you. What upside is there in those trades?
Yes, yes, we're all well aware that rates will go even lower to zero, and that this isn't like 2008/2009 but that doesn't matter because economic uncertainty is enough for purchase decisions to be (wisely) deferred. So if you **need** to realise the profits in your "investments" you're either not going to sell, or going to have take a lower-than-you-want price. And once the first price has come off, then they all do.
If you don't need to sell, and therefore you don't need to realise the paper-profit, then your car was hardly an investment was it? Enjoy it!
Would love to know the thinking behind those men transacting and paying top money today, just to hear the other side view?
Really a very good point made here.
I've been looking to get hold of a second Ferrari (355 and / or 599 GTO) for a while now. Not an investment, not to put in a garage - but one to enjoy and use regularly. I think the 355 is the best looking Ferrari for a while and was the one I had on the bedroom wall when I was a kid and I've always loved the 599 GTO for all the obvious reasons. I'm not fussed if the 355 is coupe or a spider but am only really looking at red ones for the while. I been seeing pretty much the same cars hanging around at main dealers since late January / early Feb. Some, as many will notice, have actually whacked prices up which is just nuts.
The other thing I've noticed is that with 355s especially, the condition and service history is in no way indicative of the price. Lots of dealers putting silly prices on cars which clearly need an awful lot of work. This is not my opinion, it's their opinion too whilst you're sat in the car at the showroom. When you eventually hop out of the car and decline the test drive, it's no massive shock to them. I'm happy to offer less than the asking price with anything, but suspect they'd prefer to hold on to it waiting for another customer to offer the asking price nonetheless. There are literally dozens of cars online with respectively independent dealers who have been advertising the same cars for months. A few main dealers actually emailed me cars back in January and are now advertising the same cars for more money - almost half a year later. For example, the rosso / tan 355 Spider at Lovett's up at £105k.
With the 599 GTO, I honestly have no idea what is going on with those. I'd really like one but have no clue whether now is a good time to get one. I'd prefer RHD and have no issue paying a premium for this over a LHD, but cannot justify the prices (for fear of these falling steeply) as quoted in the previous post. Similarly, the 355 prices have actually started coming down in the last week or so!
Re. Speciale prices, I have been offered a price a lot less than the previous poster suggests to sell mine back to the main dealer who supplied it. And it was their ex-demonstrator so the spec is pretty decent. At an asking price of £370k as mentioned just now, their margin would be pretty impressive if they actually managed to get that price factoring in what they are offering not that I am interested in selling in any case.
I've been looking to get hold of a second Ferrari (355 and / or 599 GTO) for a while now. Not an investment, not to put in a garage - but one to enjoy and use regularly. I think the 355 is the best looking Ferrari for a while and was the one I had on the bedroom wall when I was a kid and I've always loved the 599 GTO for all the obvious reasons. I'm not fussed if the 355 is coupe or a spider but am only really looking at red ones for the while. I been seeing pretty much the same cars hanging around at main dealers since late January / early Feb. Some, as many will notice, have actually whacked prices up which is just nuts.
The other thing I've noticed is that with 355s especially, the condition and service history is in no way indicative of the price. Lots of dealers putting silly prices on cars which clearly need an awful lot of work. This is not my opinion, it's their opinion too whilst you're sat in the car at the showroom. When you eventually hop out of the car and decline the test drive, it's no massive shock to them. I'm happy to offer less than the asking price with anything, but suspect they'd prefer to hold on to it waiting for another customer to offer the asking price nonetheless. There are literally dozens of cars online with respectively independent dealers who have been advertising the same cars for months. A few main dealers actually emailed me cars back in January and are now advertising the same cars for more money - almost half a year later. For example, the rosso / tan 355 Spider at Lovett's up at £105k.
With the 599 GTO, I honestly have no idea what is going on with those. I'd really like one but have no clue whether now is a good time to get one. I'd prefer RHD and have no issue paying a premium for this over a LHD, but cannot justify the prices (for fear of these falling steeply) as quoted in the previous post. Similarly, the 355 prices have actually started coming down in the last week or so!
Re. Speciale prices, I have been offered a price a lot less than the previous poster suggests to sell mine back to the main dealer who supplied it. And it was their ex-demonstrator so the spec is pretty decent. At an asking price of £370k as mentioned just now, their margin would be pretty impressive if they actually managed to get that price factoring in what they are offering not that I am interested in selling in any case.
Edited by JW82 on Tuesday 12th July 16:27
JW82 said:
Really a very good point made here.
I've been looking to get hold of a second Ferrari (355 and / or 599 GTO) for a while now. Not an investment, not to put in a garage - but one to enjoy and use regularly. I think the 355 is the best looking Ferrari for a while and was the one I had on the bedroom wall when I was a kid and I've always loved the 599 GTO for all the obvious reasons. I'm not fussed if the 355 is coupe or a spider but am only really looking at red ones for the while. I been seeing pretty much the same cars hanging around at main dealers since late January / early Feb. Some, as many will notice, have actually whacked prices up which is just nuts.
The other thing I've noticed is that with 355s especially, the condition and service history is in no way indicative of the price. Lots of dealers putting silly prices on cars which clearly need an awful lot of work. This is not my opinion, it's their opinion too whilst you're sat in the car at the showroom. When you eventually hop out of the car and decline the test drive, it's no massive shock to them. I'm happy to offer less than the asking price with anything, but suspect they'd prefer to hold on to it waiting for another customer to offer the asking price nonetheless. There are literally dozens of cars online with respectively independent dealers who have been advertising the same cars for months. A few main dealers actually emailed me cars back in January and are now advertising the same cars for more money - almost half a year later. For example, the rosso / tan 355 Spider at Lovett's up at £105k.
With the 599 GTO, I honestly have no idea what is going on with those. I'd really like one but have no clue whether now is a good time to get one. I'd prefer RHD and have no issue paying a premium for this over a LHD, but cannot justify the prices (for fear of these falling steeply) as quoted in the previous post. Similarly, the 355 prices have actually started coming down in the last week or so!
Re. Speciale prices, I have been offered a price a lot less than the previous poster suggests to sell mine back to the main dealer who supplied it. And it was their ex-demonstrator so the spec is pretty decent. At an asking price of £370k as mentioned just now, their margin would be pretty impressive if they actually managed to get that price factoring in what they are offering not that I am interested in selling in any case.
+1 on the 599 gtoI've been looking to get hold of a second Ferrari (355 and / or 599 GTO) for a while now. Not an investment, not to put in a garage - but one to enjoy and use regularly. I think the 355 is the best looking Ferrari for a while and was the one I had on the bedroom wall when I was a kid and I've always loved the 599 GTO for all the obvious reasons. I'm not fussed if the 355 is coupe or a spider but am only really looking at red ones for the while. I been seeing pretty much the same cars hanging around at main dealers since late January / early Feb. Some, as many will notice, have actually whacked prices up which is just nuts.
The other thing I've noticed is that with 355s especially, the condition and service history is in no way indicative of the price. Lots of dealers putting silly prices on cars which clearly need an awful lot of work. This is not my opinion, it's their opinion too whilst you're sat in the car at the showroom. When you eventually hop out of the car and decline the test drive, it's no massive shock to them. I'm happy to offer less than the asking price with anything, but suspect they'd prefer to hold on to it waiting for another customer to offer the asking price nonetheless. There are literally dozens of cars online with respectively independent dealers who have been advertising the same cars for months. A few main dealers actually emailed me cars back in January and are now advertising the same cars for more money - almost half a year later. For example, the rosso / tan 355 Spider at Lovett's up at £105k.
With the 599 GTO, I honestly have no idea what is going on with those. I'd really like one but have no clue whether now is a good time to get one. I'd prefer RHD and have no issue paying a premium for this over a LHD, but cannot justify the prices (for fear of these falling steeply) as quoted in the previous post. Similarly, the 355 prices have actually started coming down in the last week or so!
Re. Speciale prices, I have been offered a price a lot less than the previous poster suggests to sell mine back to the main dealer who supplied it. And it was their ex-demonstrator so the spec is pretty decent. At an asking price of £370k as mentioned just now, their margin would be pretty impressive if they actually managed to get that price factoring in what they are offering not that I am interested in selling in any case.
Edited by JW82 on Tuesday 12th July 16:27
what price would you bite at?
(I have a figure in mind what what I'd pay)
JW82 said:
There are literally dozens of cars online with respectively independent dealers who have been advertising the same cars for months.
The majority of which are SOR, a bit of digging into company accounts suggests that a lot of the indies dont have much on their balance sheet, so perhaps the optimistic prices are being suggested by unrealistic owners?Most main dealer cars are owned outright by the dealer but not always.
I thought prices would fall as I said on other threads but when I finally decided to buy/look last weekend I was amazed at the amount of people looking at the cars, sure some might be dreamers but people were queued up for test drives. On top of this 4 of us have purchased McLarens on this forum in the last week alone.
I just decided that I had cash and could buy without it making a difference to my finances and the bank of England announced £250bn of funds available to the banks as possible emergency measures- there won't be a banking crisis, if anything inflation will run away. Look out for the interest rate reduction on Thursday.
If prices do fall I will just smile and buy an F40 cheap.
I just decided that I had cash and could buy without it making a difference to my finances and the bank of England announced £250bn of funds available to the banks as possible emergency measures- there won't be a banking crisis, if anything inflation will run away. Look out for the interest rate reduction on Thursday.
If prices do fall I will just smile and buy an F40 cheap.
I think the new over list stuff is vulnerable - too many flippers long those cars but the rare low production number cars that are no longer being made will be good long term money. Plus in theory, the guys that own the high end stock don't need to sell, the 991 GT3 RS flippers will soon start to get nervous. There are also quite a few cars that have tracked the move up but are not really worthy of it, anything that has been made in high volumes - and as people say this can often be a car that needs excessive repair work.
Quite a few international buyers could see the depreciation in Sterling as a good buying opportunity - but again i mean for rare stock. It is a global market now.
I'd happily buy cars that are think are long term hold but on the cars like the 991 RS, the 675 LT I'd wait and see. In fact, I may pick up a 991 RS if they really dump, but now is not the time.
Quite a few international buyers could see the depreciation in Sterling as a good buying opportunity - but again i mean for rare stock. It is a global market now.
I'd happily buy cars that are think are long term hold but on the cars like the 991 RS, the 675 LT I'd wait and see. In fact, I may pick up a 991 RS if they really dump, but now is not the time.
Before the bubble that began roughly 2 years ago, were people buying cars as investments? I thought supercars and exotics were being bought by enthusiasts who didn't mind too much about the depreciation, which becomes pretty near zero after a car reaches a certain age, and wanted to own the car as an object of pleasure??
dang2407 said:
Before the bubble that began roughly 2 years ago, were people buying cars as investments? I thought supercars and exotics were being bought by enthusiasts who didn't mind too much about the depreciation, which becomes pretty near zero after a car reaches a certain age, and wanted to own the car as an object of pleasure??
Probably been investment focus for some but not all buyers for a little longer. Some invest, some flip new stuff - just trying to get front of a que to sell it later to a true car lover, some are enthusiasts that also apply a element of investment thinking to what they buy for the long term enjoyment which seems sensible as it is good to know what you are buying could gain in value by as much as the running cost for example. It would be nice if cars were just traded by enthusiasts who want to try different cars etc but it has become quite crowded by people with financial goals driving their purchase - similar to the housing market really.dang2407 said:
Before the bubble that began roughly 2 years ago, were people buying cars as investments? I thought supercars and exotics were being bought by enthusiasts who didn't mind too much about the depreciation, which becomes pretty near zero after a car reaches a certain age, and wanted to own the car as an object of pleasure??
not sure about the upper end of the market, but probably not so much at the lower end. People probably did buy with one eye towards where in the depreciation curve a car was and how much they would lose over a few years. Usually though I think esp for older cars depreciation was not the main concern, it was more how well taken care of is the car and what bills will I have to pay in the next few years. As an example I bought my 355 in (I think 2008) for c 33k and thought it will hopefully not lose too much but probably cost quite a bit in maintenance. I did not think it would appreciate. It cost me about 20k to run it for about 2-2.5 years and 20k miles and then I sold it for 27k.
All of the owners I met were enthusiasts, some did a lot of the work themselves, some worked with trusted mechanics and independents - conversations were about different exhausts, how to find a set of Challenge seats or rare carbon buckets and so on - nobody ever spoke about how much they thought their car would gain in value.
Having said all that, I would not have met an "investor" as in all likelihood he would not be driving around the countryside at some ungodly hour on a weekend to get to a car meet ....
Must still be a high demand for supercars in the UK.
http://www.evo.co.uk/news/18000/ruf-automobile-set...
http://www.evo.co.uk/news/18000/ruf-automobile-set...
AmoCS said:
Must still be a high demand for supercars in the UK.
http://www.evo.co.uk/news/18000/ruf-automobile-set...
This was in planning for a long time, Alois Ruf himself told me he was looking to do this about five years ago.http://www.evo.co.uk/news/18000/ruf-automobile-set...
Murcielago_Boy said:
Brexit = Pin which will slowly deflate the bubble.
Anyone else fancy "investing" in:
and best of all, the 991 RS for £270k?
The first initial flipped cars sold for £290kish earlier in the year. Latest cars around £200k proper spec although a steel braked car recently sold for £190k. Bargain at only 50% more than a 2 year old GT3.Anyone else fancy "investing" in:
and best of all, the 991 RS for £270k?
Gassing Station | Supercar General | Top of Page | What's New | My Stuff