Will I lose my shirt on a 650?

Will I lose my shirt on a 650?

Author
Discussion

Dblue

2,884 posts

138 months

Thursday 27th April 2017
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Bought my 650S Spider in mantis last March (2016) at £165k representing a fall of £85k from new list price , not that I imagine it was sold for that.
Used it for only 6 months but 6600 miles and sold rapidly through Alastair for £2.5k more than I paid. Good spec cars seem to have a ready market and prices remain strong.


RamboLambo

4,843 posts

108 months

Thursday 27th April 2017
quotequote all
Dblue said:
Bought my 650S Spider in mantis last March (2016) at £165k representing a fall of £85k from new list price , not that I imagine it was sold for that.
Used it for only 6 months but 6600 miles and sold rapidly through Alastair for £2.5k more than I paid. Good spec cars seem to have a ready market and prices remain strong.
FACT then - Enough PROFIT to buy a new shirt and a set of wardrobes even

Gary cpp

29 posts

85 months

Friday 28th April 2017
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12C sold for 125k same day of advertising, replaced with 650. Finding a decent spec 650 that hadn't been sold or deposit placed on it was not that easy.

RamboLambo

4,843 posts

108 months

Friday 28th April 2017
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Lovin all the FACTS guys.

Time some people face the facts rather than write FICTION

TP321

1,131 posts

136 months

Friday 28th April 2017
quotequote all
Dblue said:
Bought my 650S Spider in mantis last March (2016) at £165k representing a fall of £85k from new list price , not that I imagine it was sold for that.
Used it for only 6 months but 6600 miles and sold rapidly through Alastair for £2.5k more than I paid. Good spec cars seem to have a ready market and prices remain strong.
You absolutley stole that if you only paid £165k in March 2016 for a 650s. It just proves how badly they retain value...FACTlaugh

It would be nice to see this repeating with the 720S...

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WDISMYL

235 posts

25 months

Friday 28th April 2017
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Seriously give it a rest TP321.

You have lost all credibility. I have no idea why you are so bitter and upset with respect to McLaren, but honestly I doubt anyone cares what you have to say anymore.

The depreciation is not out of the ordinary for the time that has passed.

Why don't you find another board to troll - you are beyond tedious?

RamboLambo

4,843 posts

108 months

Friday 28th April 2017
quotequote all
TP321 said:
You absolutley stole that if you only paid £165k in March 2016 for a 650s. It just proves how badly they retain value...FACTlaugh

It would be nice to see this repeating with the 720S...
You contradict yourself in the same sentence, doh. He absolutely stole it but yet the residuals are supposed to be poo ? Make your mind up but I would agree it was a steal hence why he made a PROFIT on it and far from depreciating it actually APPRECIATED.

I don't know why you would want the 720S to crash ??? and I'm afraid you are going to be bitterly disappointed with its success already- 1400 orders and oversubscribed ie sold out

A British car company leading the way in the supercar market and shaking up the status quo and monopoly of the Italians and keeping everyone on their toes has got to be good for the consumer

f430hunter

302 posts

143 months

Friday 28th April 2017
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Bought my 650s spider from dealer in october 16 just changed it for a delivery mileage fully specced mso spider lt and got back exactly what i paid for it and guess what paid just 5k over list for the spider.The dealer has allready sold the 650s in less than 2 weeks.

cheers shl

RamboLambo

4,843 posts

108 months

Saturday 29th April 2017
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f430hunter said:
Bought my 650s spider from dealer in october 16 just changed it for a delivery mileage fully specced mso spider lt and got back exactly what i paid for it and guess what paid just 5k over list for the spider.The dealer has allready sold the 650s in less than 2 weeks.

cheers shl
Congrats. I've been considering a LT spider for a while now but thought the gap was too big but from what you have achieved above it sounds more realistic and achievable now. LT premiums have obviously soften a bit with the intro of 720S but no surprise there with some advertised at anywhere up to £100k over list

Once again proves 650s residuals are very strong if you didn't take the initial hit from new List price and that at the £180k level they sell fast

Wilmslowboy

2,385 posts

144 months

Sunday 30th April 2017
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Enjoying mine...even if I'm shirtless biggrin



RamboLambo

4,843 posts

108 months

Sunday 30th April 2017
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Who needs a shirt. You have to go topless in the summer and there is no better way than in a 650S spider

Roundabout

1 posts

Sunday 3rd February
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Sarnie said:
You won't lose much at all on a 650s around £165-£170k...........a decent spec 720s will be £240k+......the early flipped cars will be £275k+ (already a PH advert for circa £300k!).........12c coupes will stick around £110k-£130k and have done for years....12c Spiders £125k-£145k.....650s Coupes £145k-£165k......650s Spiders £160k-£180k.............prices will varying depending on spec and miles etc but I don't see the above changing for another 12-18 months at least.......720s' will need to be close to £200k before they put pressure on 650s prices, which won't be for a good while!
Looking back at this as an actual case study, this should serve as a warning to anyone relying on optimistic residual predictions to make their supercar ownership financials work.
Less than two years later, 650S Spider ask prices start below £120K at main dealers. Including dealer spread that easily would have meant >£50K loss for the poor OP worried about losing his shirt, even though he was being reassured here that he “won’t lose much at all”.

Wilmslowboy

2,385 posts

144 months

Sunday 3rd February
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Roundabout said:
Looking back at this as an actual case study, this should serve as a warning to anyone relying on optimistic residual predictions to make their supercar ownership financials work.
Less than two years later, 650S Spider ask prices start below £120K at main dealers. Including dealer spread that easily would have meant >£50K loss for the poor OP worried about losing his shirt, even though he was being reassured here that he “won’t lose much at all”.
£25k a year (around 15%) isn't that far from what was typical supercar depreciation.
Perhaps not typical, for the past 5 to 7 years, but typical for the 50 or so years before, that.

RSbandit

431 posts

70 months

Sunday 3rd February
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Have been following the 650S pricing for last while and indeed they have dropped quite a bit in a year, alot of cars on the mkt around £120k but they are not shifting wonder what the real trading level is on these...£110k? When these get to £100k it would he very hard to resist for me unreal amount of car at that price. The early comments on this thread were perhaps a touch blinkered but hindsight is 20/20 of course. 650 wasnt a limited edition car so deprec inevitable 720 suffering a fairly chunky hit too.

Sarnie

5,917 posts

147 months

Sunday 3rd February
quotequote all
Roundabout said:
Looking back at this as an actual case study, this should serve as a warning to anyone relying on optimistic residual predictions to make their supercar ownership financials work.
Less than two years later, 650S Spider ask prices start below £120K at main dealers. Including dealer spread that easily would have meant >£50K loss for the poor OP worried about losing his shirt, even though he was being reassured here that he “won’t lose much at all”.
It's easy to be so wise after the fact...........my post was based on the previous numerous years performance...........I bought a 12c for £118k, doubled the mileage and sold it for £127k......thats where the market was and had been for a good while..........but it was also before Brexit and before McLaren decided to flood their own market with hundreds of 720s/570s/Senna etc etc.....

DeltaOne

500 posts

151 months

Sunday 3rd February
quotequote all
Sarnie said:
It's easy to be so wise after the fact...........my post was based on the previous numerous years performance...........I bought a 12c for £118k, doubled the mileage and sold it for £127k......thats where the market was and had been for a good while..........but it was also before Brexit and before McLaren decided to flood their own market with hundreds of 720s/570s/Senna etc etc.....
To be fair to Sarnie, he had no way of knowing that McLaren would do their level best to ruin their own brand and used values of their cars. External factors obviously haven’t helped either, but as a study in how to devalue a brand this would take some beating. Perhaps things are changing though, its already the 3rd of February and there hasn’t been a new model yet this month.

breadvan

1,283 posts

106 months

Monday 4th February
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Eye watering to think you can pretty much swap a GT3 for a 720 now when there was a c£100k price difference when new 18 months ago.

All that’s needed now is additional dealers and they could be a contender again.

Here’s hoping......

Sarnie

5,917 posts

147 months

Monday 4th February
quotequote all
DeltaOne said:
To be fair to Sarnie, he had no way of knowing that McLaren would do their level best to ruin their own brand and used values of their cars. External factors obviously haven’t helped either, but as a study in how to devalue a brand this would take some beating. Perhaps things are changing though, its already the 3rd of February and there hasn’t been a new model yet this month.
Hold tight......Model X will be along shortly!!!

isaldiri

4,214 posts

106 months

Monday 4th February
quotequote all
Sarnie said:
It's easy to be so wise after the fact...........my post was based on the previous numerous years performance...........I bought a 12c for £118k, doubled the mileage and sold it for £127k......thats where the market was and had been for a good while.........
Didn't hear of 'past performance may not be indicative of future results' I suppose? wink

Sarnie said:
and before McLaren decided to flood their own market with hundreds of 720s/570s/Senna etc etc.....
You expected Mclaren to stop making cars or somethings after the P11s or something? Mclaren were always pretty clear with wanting to raise production numbers as well. And the Senna has utterly no relevance to the price of a 650....

Ferruccio

765 posts

57 months

Monday 4th February
quotequote all
Sarnie said:
Roundabout said:
Looking back at this as an actual case study, this should serve as a warning to anyone relying on optimistic residual predictions to make their supercar ownership financials work.
Less than two years later, 650S Spider ask prices start below £120K at main dealers. Including dealer spread that easily would have meant >£50K loss for the poor OP worried about losing his shirt, even though he was being reassured here that he “won’t lose much at all”.
It's easy to be so wise after the fact...........my post was based on the previous numerous years performance...........I bought a 12c for £118k, doubled the mileage and sold it for £127k......thats where the market was and had been for a good while..........but it was also before Brexit and before McLaren decided to flood their own market with hundreds of 720s/570s/Senna etc etc.....
It’s not being wise after the event.
It was a really odd period.
This happens.
Just like it did after the 1989 bubble.
But it wasn’t hard to see that the endless supply of new cars, 90% perhaps of which were being bought on finance, would eventual exhaust the number of prospective purchasers of such secondhand cars, without pricing coming under real pressure.