Will Corona effect the Supercar Market
Discussion
Fckitdriveon said:
Interesting post soleith , well balanced and thoughtfully written.
What stuck out to me is your point about the states shedding 11 million jobs in 4 weeks, I think the fragility of many businesses has been exposed with all of this will force businesses big and small to look at how they operate and many will streamline where they can and there ll be alot of pause for thought about exposure moving forwards.
it will be a time of cautiousness for many businesses.
Cheers mate. the 11 was actually 11 years of job growth, not 11 million jobs. They've actually lost over 20 million jobs since covid. Bad times for many. Yes, many will learn from this painful experience, as the sage of omaha said "it's only when the tide goes out that you see who is swimming naked". Lots of nudists out there. Evident in the UK too, even with all the government support, we've had plenty of companies going into administration since Covid began including Debenhams (again), Carluccio's, cath kidston etc. There will be many more before this is done.What stuck out to me is your point about the states shedding 11 million jobs in 4 weeks, I think the fragility of many businesses has been exposed with all of this will force businesses big and small to look at how they operate and many will streamline where they can and there ll be alot of pause for thought about exposure moving forwards.
it will be a time of cautiousness for many businesses.
andrew said:
So said:
The bit in bold - really?
the stock market factored this in long before our government, press or populace didfootsoldier said:
The problem is that if you are now a business with zero income, no amount of cautiousness or streamlining makes the numbers add up.
At the moment, maybe you can survive with furloughing employees, rates holidays, loans etc.
What happens when the restaurants, pubs, hotels, stadiums etc open again, and the payroll support is gone, you have to pay bills, your credit is maxed out, and yet you have a business with half or third of customers as before? And the rent you didn’t pay, or the car loans or mortgages you deferred are now payable.
Another layer of pain when the support starts to be removed. And it all knocks on.
Right now we’ve bounced off the safety net, but someone is probably going to take it away before we land again.
Alternative is government support for 12-18months on a good day, and taxes, austerity and cuts for decades.
For me, neither the stock market nor the car market has thought this all through yet, but will soon. (And that’s assuming the actual virus can be managed with all the measures introduced). As has been said, many people objectively won’t be able to afford supercars, and some subjectively won’t want to be seen in them, even if they can.
The government is seemly swinging from one extreme (Sweden) to the otherAt the moment, maybe you can survive with furloughing employees, rates holidays, loans etc.
What happens when the restaurants, pubs, hotels, stadiums etc open again, and the payroll support is gone, you have to pay bills, your credit is maxed out, and yet you have a business with half or third of customers as before? And the rent you didn’t pay, or the car loans or mortgages you deferred are now payable.
Another layer of pain when the support starts to be removed. And it all knocks on.
Right now we’ve bounced off the safety net, but someone is probably going to take it away before we land again.
Alternative is government support for 12-18months on a good day, and taxes, austerity and cuts for decades.
For me, neither the stock market nor the car market has thought this all through yet, but will soon. (And that’s assuming the actual virus can be managed with all the measures introduced). As has been said, many people objectively won’t be able to afford supercars, and some subjectively won’t want to be seen in them, even if they can.
https://www.thetimes.co.uk/article/boris-johnson-r...
Boris Johnson resists easing of coronavirus lockdown
Lifting restrictions risks second wave, PM tells colleagues
These unprecedented times (everyone tries to get that in) might well bring on some new millionaires - anyone with an online presence is going to do particularly well and some professions like the medical are not affected (other than by death). I've heard quite a few stories of people being manyfold more busy now than before the lockdown.
The supercar market might just take off again...
The supercar market might just take off again...
Is it just me or does this well specced 2013 F12 with 11k on the clock seem like it went cheap at £131,500?
https://collectingcars.com/for-sale/2013-ferrari-f...
https://collectingcars.com/for-sale/2013-ferrari-f...
Soleith said:
Is it just me or does this well specced 2013 F12 with 11k on the clock seem like it went cheap at £131,500?
https://collectingcars.com/for-sale/2013-ferrari-f...
137.5k including buyer's fee...https://collectingcars.com/for-sale/2013-ferrari-f...
I'm confident you'll get 10k off most F12's from dealers at mo. 145-150k will get a a fully approved one with 2yrs warranty. With this in mind, 137.5k doesn't represent mega value imo.
ferdi p said:
Soleith said:
Is it just me or does this well specced 2013 F12 with 11k on the clock seem like it went cheap at £131,500?
https://collectingcars.com/for-sale/2013-ferrari-f...
137.5k including buyer's fee...https://collectingcars.com/for-sale/2013-ferrari-f...
I'm confident you'll get 10k off most F12's from dealers at mo. 145-150k will get a a fully approved one with 2yrs warranty. With this in mind, 137.5k doesn't represent mega value imo.
I think the whole world is looking at Collecting Cars at the moment - see the other thread - because a lot of people don't have anything else to do, and it's as good a way as any to buy a car at the moment. Because of this, I think that prices are generally quite strong, and haven't seen a real Covid premium factored in. When you add the 6% commission, and consider that this is a trade money auction with (in the cases of private sales) very little protection and no PPI to be carried out with any ease, I don't think we're seeing bargains on this site at the moment, and that doesn't look like changing in the very near forseeable.
Mr Cod said:
I think the whole world is looking at Collecting Cars at the moment - see the other thread - because a lot of people don't have anything else to do, and it's as good a way as any to buy a car at the moment. Because of this, I think that prices are generally quite strong, and haven't seen a real Covid premium factored in. When you add the 6% commission, and consider that this is a trade money auction with (in the cases of private sales) very little protection and no PPI to be carried out with any ease, I don't think we're seeing bargains on this site at the moment, and that doesn't look like changing in the very near forseeable.
I'm in the same boat, prices on Collecting Cars look to me feel oddly strong, I don't expect to see any bargains until Q4 2020 / Q1 2021 and that will be driven by PCP cars handed back (glut of) or people needing to covert their assets to cash. Only my views though.mark seeker said:
I'm in the same boat, prices on Collecting Cars look to me feel oddly strong, I don't expect to see any bargains until Q4 2020 / Q1 2021 and that will be driven by PCP cars handed back (glut of) or people needing to covert their assets to cash. Only my views though.
The other data points are completed cars that sold on eBay - this looks to be about £12k (15%) behind what i specialist would have it up at ?
I suspect there's a lot of encouragement from the Collecting Cars results and will mean more cars will show up there in short order. To have managed to create a functioning car sales mechanism during these times is quite something, in fairness. The thing is that Collecting Cars is not just a number someone punched in on a web site, it's value that someone is willing to pay, so it creates certainty around valuations that otherwise wouldn't exist. So they're doing everyone a favour.
Am I the only one that is re-evaluating life's priorities at the moment and as the lock-down continues, even more so?
If they get this right, the bounce back could be huge.... It'll be like that day in spring that they let the cows out!
Of course, sadly many people will be impacted financially but I also think a lot of people will be wanting to buy and do things they've thought about for years and not got around to. This could be the anything from the simple things in life through to owning that dream.
If they get this right, the bounce back could be huge.... It'll be like that day in spring that they let the cows out!
Of course, sadly many people will be impacted financially but I also think a lot of people will be wanting to buy and do things they've thought about for years and not got around to. This could be the anything from the simple things in life through to owning that dream.
mike01606 said:
Am I the only one that is re-evaluating life's priorities at the moment and as the lock-down continues, even more so?
If they get this right, the bounce back could be huge.... It'll be like that day in spring that they let the cows out!
Of course, sadly many people will be impacted financially but I also think a lot of people will be wanting to buy and do things they've thought about for years and not got around to. This could be the anything from the simple things in life through to owning that dream.
Interesting and refreshing views in contrast to the many doom mongers.If they get this right, the bounce back could be huge.... It'll be like that day in spring that they let the cows out!
Of course, sadly many people will be impacted financially but I also think a lot of people will be wanting to buy and do things they've thought about for years and not got around to. This could be the anything from the simple things in life through to owning that dream.
mike01606 said:
Am I the only one that is re-evaluating life's priorities at the moment and as the lock-down continues, even more so?
If they get this right, the bounce back could be huge.... It'll be like that day in spring that they let the cows out!
Of course, sadly many people will be impacted financially but I also think a lot of people will be wanting to buy and do things they've thought about for years and not got around to. This could be the anything from the simple things in life through to owning that dream.
Spot on, lets be positive, help others but still live our dream (most people have worked hard)If they get this right, the bounce back could be huge.... It'll be like that day in spring that they let the cows out!
Of course, sadly many people will be impacted financially but I also think a lot of people will be wanting to buy and do things they've thought about for years and not got around to. This could be the anything from the simple things in life through to owning that dream.
Edited by marky7seven on Wednesday 22 April 15:46
Tbh owners want it to be a strong market, ppl who want to buy want it to collapse, I think collecting cars is kind of specialist, not everyone knows about it, just mostly enthusiasts so I think that’s why it’s fairly strong
Mostly people will look at autotrader and eBay and maybe ph classifieds
I do think some of the prices on collecting cars are very very strong but we will see what happens with the 720s
Mostly people will look at autotrader and eBay and maybe ph classifieds
I do think some of the prices on collecting cars are very very strong but we will see what happens with the 720s
NorthernUproar said:
I placed an order on a 992 factory build in January 2020. That would have been with me by mid April however as things stand, it’s currently in the body shop at Stuttgart and there’s a likely ongoing factory closure due to shortages in the supply chain.
The car was £106k with a small discount applied by my local OPC. As things continue, I’m concerned that the drop in value of the car from list price to ‘Off the forecourt” value will be astronomical. Hard to think about consumer confidence feeding economic recovery right now.
As others have pointed out there’s the human element of this too. Living in the NE of England, I’m not sure I want to be seen driving around in an aero kitted up red 911 with gold wheels whilst friends, family and neighbours are likely going through real hardship. It just doesn’t sit right.
So can you cancel your order or is it too late.The car was £106k with a small discount applied by my local OPC. As things continue, I’m concerned that the drop in value of the car from list price to ‘Off the forecourt” value will be astronomical. Hard to think about consumer confidence feeding economic recovery right now.
As others have pointed out there’s the human element of this too. Living in the NE of England, I’m not sure I want to be seen driving around in an aero kitted up red 911 with gold wheels whilst friends, family and neighbours are likely going through real hardship. It just doesn’t sit right.
The new aero kit option looks great!
Gassing Station | Supercar General | Top of Page | What's New | My Stuff