720s Below 200K Already

720s Below 200K Already

Author
Discussion

rich12

1,202 posts

92 months

Thursday 17th January
quotequote all
I know this isn't concrete proof or anything but there was a 67 plate standard 720S with only 600 miles on it and the highest bid on it was £115k.

That's pretty shocking and also shows that even at 'good' money (ie £150k) traders aren't interested in them.

Never you mind

1,223 posts

50 months

Thursday 17th January
quotequote all
rich12 said:
https://www.autotrader.co.uk/classified/advert/201...

Does anyone remember seeing what price this was on before they reduced it?
There should be another a grand cheaper than this appearing soon if the last few weeks is anything to go by.

I make that £150k in August time (ish)
Probably get it cheaper now I imagine. There is a black one at JZM with only 1K miles compared to 13K on this one, for the same price.



Charlie360

336 posts

196 months

Thursday 17th January
quotequote all
That car was around £205K several weeks back and has been progressively reduced down to the current point, but compared to anything else on the market is pretty high mileage, so has to have something else to differentiate it - the price is the only thing that the dealer can change.......
Regarding the general state of the market why is everyone so surprised with trade bids? If a dealer doesn't want to buy a car currently, then of course they'll offer ridiculous money, if the vendor is desperate enough then they'll take the bid, if not they won't and the price offered isn't necessarily the market trade value.
I have been watching the market for a while and (from my perspective) trying to figure out when the cars that I'd like, reach a price that I'm prepared to pay for them - to a greater extent we are all like that - and so is the main market beyond the subset of PistonHeads commentators. We currently face unprecedented uncertainty in the UK super car market over Brexit, winter time, etc. etc. and most people will sit on their hands, but at some point there are people out there with differing circumstances, who for various reasons think that some cars now represent a reasonable deal - and if you buy one and are happy to keep it longer term, then even if prices dip further, then it becomes slightly academic.
And for what it's worth, I have quietly been willing the market to fall, but now think, given the performance and the (relative) exclusivity of the 720 that it's reached a point where I'm prepared to chance my arm and buy a car - whilst I may be in the minority, I'm unlikely to be alone in this market and hence support a price point - I'm certain the prices will continue to drop, but at what speed and for what spec, age and mileage really depends upon who's out there and looking - that is surely what makes a market, isn't it?
Just my 2 pence......

andrew

8,603 posts

130 months

Thursday 17th January
quotequote all
Charlie360 said:
That car was around £205K several weeks back and has been progressively reduced down to the current point, but compared to anything else on the market is pretty high mileage, so has to have something else to differentiate it - the price is the only thing that the dealer can change.......
Regarding the general state of the market why is everyone so surprised with trade bids? If a dealer doesn't want to buy a car currently, then of course they'll offer ridiculous money, if the vendor is desperate enough then they'll take the bid, if not they won't and the price offered isn't necessarily the market trade value.
I have been watching the market for a while and (from my perspective) trying to figure out when the cars that I'd like, reach a price that I'm prepared to pay for them - to a greater extent we are all like that - and so is the main market beyond the subset of PistonHeads commentators. We currently face unprecedented uncertainty in the UK super car market over Brexit, winter time, etc. etc. and most people will sit on their hands, but at some point there are people out there with differing circumstances, who for various reasons think that some cars now represent a reasonable deal - and if you buy one and are happy to keep it longer term, then even if prices dip further, then it becomes slightly academic.
And for what it's worth, I have quietly been willing the market to fall, but now think, given the performance and the (relative) exclusivity of the 720 that it's reached a point where I'm prepared to chance my arm and buy a car - whilst I may be in the minority, I'm unlikely to be alone in this market and hence support a price point - I'm certain the prices will continue to drop, but at what speed and for what spec, age and mileage really depends upon who's out there and looking - that is surely what makes a market, isn't it?
Just my 2 pence......
why is winter time unprecedented ?

Calculator

560 posts

153 months

Thursday 17th January
quotequote all
Charlie360 said:
Regarding the general state of the market why is everyone so surprised with trade bids? If a dealer doesn't want to buy a car currently, then of course they'll offer ridiculous money, if the vendor is desperate enough then they'll take the bid, if not they won't and the price offered isn't necessarily the market trade value..
Not wanting to sound difficult, but that is exactly what the market trade value is

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Charlie360

336 posts

196 months

Thursday 17th January
quotequote all
It's not unprecedented, it's just amongst a combination of factors, some unprecedented, that add to the downward pressure on prices, apologies if that wasn't clear from my previous post.

Charlie360

336 posts

196 months

Thursday 17th January
quotequote all
Surely the trade value is only that, if the vendor accepts that price? If I make a new offer to a 720 owner of £15 and they turn me down, then surely that's just an offer, not the trade value of a 720? And as I mentioned previously, I'm sure prices will trend down further, it's just that certain cars on the current market, with all the information I currently have at hand, makes me think they are worth buying, so I have offered on a car listed on PH currently.

rich12

1,202 posts

92 months

Wednesday 23rd January
quotequote all
Now down to £175k.
https://www.autotrader.co.uk/classified/advert/201...

Might be able to do a straight swap for one with my 570S by the end of the year!

f1ten

1,760 posts

91 months

Wednesday 23rd January
quotequote all
My my that is cheap but then 488 are now getting down to low £180s no problem so it’s really inevitable 720s will find the floor around 180 to 210 with spec variations (my two pence and speaking as pure conjecture!)

Gameface

6,839 posts

15 months

Wednesday 23rd January
quotequote all
rich12 said:
Now down to £175k.
https://www.autotrader.co.uk/classified/advert/201...

Might be able to do a straight swap for one with my 570S by the end of the year!
Big miles in comparison to the rest on the market

X7LDA

932 posts

142 months

Wednesday 23rd January
quotequote all
f1ten said:
My my that is cheap but then 488 are now getting down to low £180s no problem so it’s really inevitable 720s will find the floor around 180 to 210 with spec variations (my two pence and speaking as pure conjecture!)
I think said floor is going to be more like £140/150k....

f1ten

1,760 posts

91 months

Wednesday 23rd January
quotequote all
If so then 650s will be 120k max if not 100k!
Big factor with all supercars is actual repair bills once they hit 3 yrs old/ ex warranty. I can speak knowledgeably about that hehe


GT4RS

1,410 posts

135 months

Wednesday 23rd January
quotequote all
f1ten said:
If so then 650s will be 120k max if not 100k!
Big factor with all supercars is actual repair bills once they hit 3 yrs old/ ex warranty. I can speak knowledgeably about that hehe
Good low mileage 650s spiders can be bought for 120k from a dealer at the moment.

Looks a lot of car for the money.

Do people think the 650s will follow 12c prices, can a sensible miles 12c fall below 70k?

Ferruccio

765 posts

57 months

Wednesday 23rd January
quotequote all
Of course.
A limitless supply of new cars.
A limited number of people to buy the secondhand cars.

cypriot

231 posts

37 months

Thursday 24th January
quotequote all
My following comment is merely a conversation starter:

If mclaren had done everything the exact same way from the beginning, but instead of a turbo charged engine, it had some kind of naturally aspirated engine, would the values of the cars hold better?

I am just wondering if one of the issues Mclarens have is that the cars don't have a "supercar" engine - yes, I know they are blindingly fast, but not particularly exciting engines. This means that mclarens become numbers cars in peoples eyes, hence why when a new model comes out, there is nothing to draw someone to the older model. Look at the values of lambos? Even very early gallardos are similar prices to a 12C. And I feel that that is because due to the engine, it is always going to be a special thing.

Just wondering what other peoples thoughts are.

Gameface

6,839 posts

15 months

Thursday 24th January
quotequote all
The only reason I don't have a 720S is because the engines are so dull in comparison to my cars.

It's not all about speed.

ferdi p

1,151 posts

110 months

Thursday 24th January
quotequote all
cypriot said:
My following comment is merely a conversation starter:

If mclaren had done everything the exact same way from the beginning, but instead of a turbo charged engine, it had some kind of naturally aspirated engine, would the values of the cars hold better?

I am just wondering if one of the issues Mclarens have is that the cars don't have a "supercar" engine - yes, I know they are blindingly fast, but not particularly exciting engines. This means that mclarens become numbers cars in peoples eyes, hence why when a new model comes out, there is nothing to draw someone to the older model. Look at the values of lambos? Even very early gallardos are similar prices to a 12C. And I feel that that is because due to the engine, it is always going to be a special thing.

Just wondering what other peoples thoughts are.
Had a Gallardo, 360, 430, 911GT3 & numerous other 'great sounding' cars...

I must be odd as I find the 650 (with sports exhaust) just as exciting/noisy/fun as any of them!!

f1ten

1,760 posts

91 months

Thursday 24th January
quotequote all
Conversation piece; just looked at redline cars amazing stock perhaps some are Sor and I salute them for their quality and what they have achieved in a short time however :
Laferrari Aperta is being flipped for mega bucks moe than it cost the owner.

Looking further down their adverts, 812 super fast delivery miles and big Premium being sought, 2x 991 gt3rs both with delivery miles and premiums being sought (I.e speculators selling)
Mc 600lt clearly a speculator , 2 urus jeeps with a bit of mileage but of course bought to run then flip by buyers obviously inside if 6 months etc etc

It’s quite incredible this debt fuelled speculative game has gone on as long as this actually. I’ve been hearing stories of net loses on huracan performante up to £ 40k and we know the story with the 720s. The Merc amg gtr lasted for about 4 months hype and is tanking.

So when will this market return to normal ???
I would much rather buy in when depreciation sets back in !

br d

6,578 posts

164 months

Thursday 24th January
quotequote all
ferdi p said:
Had a Gallardo, 360, 430, 911GT3 & numerous other 'great sounding' cars...

I must be odd as I find the 650 (with sports exhaust) just as exciting/noisy/fun as any of them!!
I'll disagree. I had an LP560 and a 430 also and while the 650S with Sports Exhaust is easily as exciting and as much fun as those two (if not more) it's a mile behind aurally.

Never you mind

1,223 posts

50 months

Thursday 24th January
quotequote all
f1ten said:
Conversation piece; just looked at redline cars amazing stock perhaps some are Sor and I salute them for their quality and what they have achieved in a short time however :
Laferrari Aperta is being flipped for mega bucks moe than it cost the owner.

Looking further down their adverts, 812 super fast delivery miles and big Premium being sought, 2x 991 gt3rs both with delivery miles and premiums being sought (I.e speculators selling)
Mc 600lt clearly a speculator , 2 urus jeeps with a bit of mileage but of course bought to run then flip by buyers obviously inside if 6 months etc etc

It’s quite incredible this debt fuelled speculative game has gone on as long as this actually. I’ve been hearing stories of net loses on huracan performante up to £ 40k and we know the story with the 720s. The Merc amg gtr lasted for about 4 months hype and is tanking.

So when will this market return to normal ???
I would much rather buy in when depreciation sets back in !
2 La Ferraris, 1 Pista and 1 812. Maybe someone offloading their collection?

Wonder if the chap that's flipping a pista will be blacklisted by Ferrari?