Lots of 599 GTOs for sale - why?
Discussion
Camlet said:
roygarth said:
Paying £200k or 50% more for RHD is bonkers.
All relative. Taking a loan to buy a car costing 50 grand and will depreciate is bonkers to many people.The GTO is an aggressive beast that has big presence, the 599 is a larger car than the F12 to begin with. In some ways it feels harder core than a TDF too. With only around 80 odd UK first registered RHD cars delivered, it's still a rare pretty special car.
I can understand a premium for RHD over LHD for cars that are actually used in the uk- when we returned from the USA we shipped our 911 back simply because the company paid for everything. So why not? But everyday use in a LHD proved to be a pain in the proverbial. Overtaking on country roads was very dangerous. And we had to keep a long stick in the car to press the button for car parks etc. It really wasn't fun to drive as a LHD so we sold it relatively quickly.
But to buy a RHD at a 50% to a LHD for investment is bonkers. The biggest market for classic cars is LHD - that's where the bulk of the liquidity is. It makes no sense to buy a car that will never be driven and pay a 50% premium.
It's just another indicator that the UK supercar market is ready to burst. It could be uglier than the crash in 2008.
But to buy a RHD at a 50% to a LHD for investment is bonkers. The biggest market for classic cars is LHD - that's where the bulk of the liquidity is. It makes no sense to buy a car that will never be driven and pay a 50% premium.
It's just another indicator that the UK supercar market is ready to burst. It could be uglier than the crash in 2008.
WDISMYL said:
I can understand a premium for RHD over LHD for cars that are actually used in the uk- when we returned from the USA we shipped our 911 back simply because the company paid for everything. So why not? But everyday use in a LHD proved to be a pain in the proverbial. Overtaking on country roads was very dangerous. And we had to keep a long stick in the car to press the button for car parks etc. It really wasn't fun to drive as a LHD so we sold it relatively quickly.
But to buy a RHD at a 50% to a LHD for investment is bonkers. The biggest market for classic cars is LHD - that's where the bulk of the liquidity is. It makes no sense to buy a car that will never be driven and pay a 50% premium.
It's just another indicator that the UK supercar market is ready to burst. It could be uglier than the crash in 2008.
If the UK crashes, I will happily buy a RHD car to drive on the continent - I prefer LHD as that is the way the cars I like to buy were designed (TVR excluded), but if the price is right I will happily deal with it for the money saving.But to buy a RHD at a 50% to a LHD for investment is bonkers. The biggest market for classic cars is LHD - that's where the bulk of the liquidity is. It makes no sense to buy a car that will never be driven and pay a 50% premium.
It's just another indicator that the UK supercar market is ready to burst. It could be uglier than the crash in 2008.
I find it fascinating when people talk of a market crash with expectation of picking up a bargain.
For those with access to plenty of cash, a market crash may indeed result in strong buying opportunity once the knife has stopped falling. It was ever thus. But the number of people with instant access to several hundred thousand is by definition very limited.
A crash will mean the entire economy has tanked and the last thing 99% of people will be doing is buying any car.
So wishing for a crash unless you've huge funds on tap is very strange. A crash will burn everyone hard. A correction I get, but be careful what you wish for.
Besides as we saw from the last crash, those with the best examples and with enough financial muscle were the least likely to be selling. Ordinary inventory slides brutally fast, the finest is put on trickle charge waiting for the upturn to arrive, no matter how long it takes.
For those with access to plenty of cash, a market crash may indeed result in strong buying opportunity once the knife has stopped falling. It was ever thus. But the number of people with instant access to several hundred thousand is by definition very limited.
A crash will mean the entire economy has tanked and the last thing 99% of people will be doing is buying any car.
So wishing for a crash unless you've huge funds on tap is very strange. A crash will burn everyone hard. A correction I get, but be careful what you wish for.
Besides as we saw from the last crash, those with the best examples and with enough financial muscle were the least likely to be selling. Ordinary inventory slides brutally fast, the finest is put on trickle charge waiting for the upturn to arrive, no matter how long it takes.
Camlet said:
I find it fascinating when people talk of a market crash with expectation of picking up a bargain.
For those with access to plenty of cash, a market crash may indeed result in strong buying opportunity once the knife has stopped falling. It was ever thus. But the number of people with instant access to several hundred thousand is by definition very limited.
A crash will mean the entire economy has tanked and the last thing 99% of people will be doing is buying any car.
So wishing for a crash unless you've huge funds on tap is very strange. A crash will burn everyone hard. A correction I get, but be careful what you wish for.
Besides as we saw from the last crash, those with the best examples and with enough financial muscle were the least likely to be selling. Ordinary inventory slides brutally fast, the finest is put on trickle charge waiting for the upturn to arrive, no matter how long it takes.
Did not say I wish for one as my London flat will be worth even less than now in euro terms. Having said that, I buy cars to keep and if the prices come down to a imo more reasonable pricing level, I am happy to buy one - bad economy or not - and I do not care if values go up or down thereafter. at least that will make me feel a little better about making less money etc thanks to economic issues For those with access to plenty of cash, a market crash may indeed result in strong buying opportunity once the knife has stopped falling. It was ever thus. But the number of people with instant access to several hundred thousand is by definition very limited.
A crash will mean the entire economy has tanked and the last thing 99% of people will be doing is buying any car.
So wishing for a crash unless you've huge funds on tap is very strange. A crash will burn everyone hard. A correction I get, but be careful what you wish for.
Besides as we saw from the last crash, those with the best examples and with enough financial muscle were the least likely to be selling. Ordinary inventory slides brutally fast, the finest is put on trickle charge waiting for the upturn to arrive, no matter how long it takes.
With regards to the last crash, I remembersomebody posting on here if he should buy the 288 GTO is was offered for 250k or some such deal. The ones with the best examples/very rich might not sell, those who levered to ride the car-investment-wave might well have to sell ....
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