Cars not selling?

Cars not selling?

Author
Discussion

sardis

305 posts

175 months

Saturday 24th June 2017
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Surely this simply reflects the overheated and uncertain market place. I think it is a bit strong to call them crooks, it is good business sense not to pay too much for something you may struggle to sell?
I'm not a dealer and have no affiliation with any of them and certainly think they have benefited immensely from recent times. However, I would welcome a decent collapse in prices, unlikely as that is, to bring interesting machinery within reach of my budget.
Enjoy your car which is obviously in good nick, and who knows what will happen to prices in the future. driving

SL550M

589 posts

109 months

Saturday 24th June 2017
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When I was looking at selling my 599 (with retro-fit HGTE pack) last autumn the best trade bid I received, having phoned three Ferrari main dealers, was £90k. The car would have retailed at around £125-£130k I would have guessed.

Yipper

5,964 posts

89 months

Saturday 24th June 2017
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Lofty999 said:
Seems that dealers may be tentative,or crooks, at the moment judging by my experience this week.Took my f430 for a service and suggested I may sell if they were interested.Car sailed through the service with no advisories and I was offered the princely sum of between 70 to 80k for an 07 f1 9k miles ffsh corsa good spec!
Trade bids for supercars have been 20-40% below retail prices for at least the past 2 years at most garages. It is nothing new. Indys, in particular, always need to factor in potential issues such as blown engines, unsold stock, etc.

RamboLambo

4,843 posts

169 months

Saturday 24th June 2017
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A recent trade bid ( CASH not to px ) from a McLaren dealer on my 650S Spider was 10% behind retail and where I would expect it to be in the market today. By the time they take out recon costs, add a warranty and make a bit of profit to pay their overheads I wouldn't of thought there was much if any haggle room on their retail price

Just proves certain brands prices are overcooked IMHO and what is speculatively advertised doesn't represent real worth

Edited by RamboLambo on Saturday 24th June 15:05

paul71a

151 posts

232 months

Saturday 24th June 2017
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Sold my 57 2007 F430 spider (with LOTS of factory carbon on the outside) to a dealer in the last week. 15k miles, FFSH and spotless. Got £95K for it and they've put it up for sale at £110K

That seems entirely reasonable to me.

Durzel

12,232 posts

167 months

Saturday 24th June 2017
quotequote all
Lofty999 said:
Seems that dealers may be tentative,or crooks, at the moment judging by my experience this week.Took my f430 for a service and suggested I may sell if they were interested.Car sailed through the service with no advisories and I was offered the princely sum of between 70 to 80k for an 07 f1 9k miles ffsh corsa good spec!
Are you suggesting that they should be offering you close to their forecourt price, less £5k or something?

mwstewart

7,554 posts

187 months

Saturday 24th June 2017
quotequote all
RamboLambo said:
A recent trade bid ( CASH not to px ) from a McLaren dealer on my 650S Spider was 10% behind retail and where I would expect it to be in the market today. By the time they take out recon costs, add a warranty and make a bit of profit to pay their overheads I wouldn't of thought there was much if any haggle room on their retail price

Just proves certain brands prices are overcooked IMHO and what is speculatively advertised doesn't represent real worth

Edited by RamboLambo on Saturday 24th June 15:05
A change in the market will not be limited to one brand - you should really know that.

My value comes from the experiences and memories made using the car. I can only hope we return to more sane times when that is the prime consideration for most, not the future value.

Lofty999

288 posts

126 months

Saturday 24th June 2017
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Durzel said:
Are you suggesting that they should be offering you close to their forecourt price, less £5k or something?
No,just suggesting that they aren't going to take the slightest risk at that price!Pretty much a perfect car,would suggest the dealer would ask £100k plus .Not overly worried because I'm definitely not selling at that price but will continue to enjoy the car and seek finance elsewhere to fund my future project.

rubystone

11,252 posts

258 months

Sunday 25th June 2017
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Yipper said:
Trade bids for supercars have been 20-40% below retail prices for at least the past 2 years at most garages. It is nothing new. Indys, in particular, always need to factor in potential issues such as blown engines, unsold stock, etc.
Jesus you're talking to the wrong people . Who's been winding you up on these bids??????

Wilmslowboy

4,188 posts

205 months

Sunday 25th June 2017
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Yipper said:
Trade bids for supercars have been 20-40% below retail prices for at least the past 2 years at most garages. It is nothing new. Indys, in particular, always need to factor in potential issues such as blown engines, unsold stock, etc.
I think 20% to 40% would be exceptionally rare - let me share a real world example.

I bought a car earlier in the year, It was advertised by the dealer for £168k, as part of buying it, i got to see what the dealer paid for it....this was very early £150's.

That means if the dealer had managed to sell it at thier asking price they would have made just over 10% margin.

The potential issue is that they were (still are) similar cars being marketed at £175k+. Many private sellers get fixated with these top of the tree prices, believing this is where thier own car sits....and then expect £5k less than this for their car come trade in / straight sell to a dealer.

Had the original owner of my car, believed his car was worth £175k (as some similar cars are being unrealistily and ambitiously advertised at) he would have clearly been desperately disappointed at the early £150s bid from the dealer, expecting an offer much higher- probably closer to £170k.

However the reality in this case, is it was worth nothing like £175k, as it failed to sell for a couple months at £168k....... the final price it achieved was actually below £160k.

In the end the early £150's bid the original seller accepted (from the dealer) doesn't look to bad (taking into account the quick, risk free and easy transaction).



dvb247

270 posts

197 months

Monday 26th June 2017
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if I trade up from my F430 spider I'd want a good deal on the trade in, my local main dealer has appraised it and they would sell it quickly as stock is currently low, but I see nothing wrong with selling an F430 privately, it's just a car at the end of the day!!

100 IAN

1,091 posts

161 months

Monday 26th June 2017
quotequote all
dvb247 said:
if I trade up from my F430 spider I'd want a good deal on the trade in, my local main dealer has appraised it and they would sell it quickly as stock is currently low, but I see nothing wrong with selling an F430 privately, it's just a car at the end of the day!!
If its a manual, not an F1, I may know someone interested in possibly buying it(?)

paul71a

151 posts

232 months

Tuesday 27th June 2017
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dvb247 said:
if I trade up from my F430 spider I'd want a good deal on the trade in, my local main dealer has appraised it and they would sell it quickly as stock is currently low, but I see nothing wrong with selling an F430 privately, it's just a car at the end of the day!!
See my earlier post; got £95k for my F430 F1 Spider with a dealer

Edited by paul71a on Tuesday 27th June 08:57

Helicopter123

8,831 posts

155 months

Tuesday 11th July 2017
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Candellara said:
This is a fantastic article and a new index for me. Clearly shows a trend but one which seems at odds with much of the UK market for RHD cars, especially Supercars and Porsches. Is the market in 40/50/60/70s stuff falling masking a stronger performance from more recent stuff?

RamboLambo

4,843 posts

169 months

Tuesday 11th July 2017
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Helicopter123 said:
This is a fantastic article and a new index for me. Clearly shows a trend but one which seems at odds with much of the UK market for RHD cars, especially Supercars and Porsches. Is the market in 40/50/60/70s stuff falling masking a stronger performance from more recent stuff?
If the rarer "classic" cars are falling god help the newer massed produced regular production cars that are still advertised at crazy prices with little if any justification. Seems a lot of Ferrari's ( 360 onwards ) are a bubble within a bubble IMHO and been saying for 2 years now buyer beware as the prices have been overcooked.

I suppose some people will cling onto the fact that you haven't made a loss until you sell it whilst others may ride it out.
Feel sorry for those that bought into the hype recently and cant afford to get out and cut their losses - their only answer is to keep it and drive the car as much as possible to get some value from it

baypond

398 posts

134 months

Tuesday 11th July 2017
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A weak GBP and growth pick up in Europe, could see support come more strongly into European collectables in quite a meaningful way. Weak GBP will cushion the blow to UK prices, but I expect the gap between LHD to RHD to narrow for some time, and eventually LHD pricing will support RHD prices from a precipitous drop. Longer term, the oft talked about demise of the combustion engine will ensure these cars will continue to be seen as a store of wealth for a long time to come.

Kyodo

727 posts

123 months

Wednesday 12th July 2017
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RamboLambo said:
Seems a lot of Ferrari's ( 360 onwards ) are a bubble within a bubble IMHO and been saying for 2 years now buyer beware as the prices have been overcooked.
Maybe, but the biggest rises by FAR have been pre-360. We're talking 300% increases on some of those.

As mentioned above with regard to our weak pound, a lot of LHD cars flooded the market a while back as prices rose. Does anyone think that European buyers may come to the UK looking for bargains? Just a thought.

Nano2nd

3,426 posts

255 months

Wednesday 12th July 2017
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paul71a said:
dvb247 said:
if I trade up from my F430 spider I'd want a good deal on the trade in, my local main dealer has appraised it and they would sell it quickly as stock is currently low, but I see nothing wrong with selling an F430 privately, it's just a car at the end of the day!!
See my earlier post; got £95k for my F430 F1 Spider with a dealer

Edited by paul71a on Tuesday 27th June 08:57
Which dealer?

dang2407

496 posts

107 months

Wednesday 12th July 2017
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baypond said:
..... Longer term, the oft talked about demise of the combustion engine will ensure these cars will continue to be seen as a store of wealth for a long time to come.
Surely this demise will have the opposite effect?? Thanks to the greenies and governments under pressure to secure votes by highlighting green issues, the cars with internal combustion engines will be taxed off the road. Noone will want them and their prices will plummet.