Not much seems to selling right now?
Discussion
ghost83 said:
_Leg_ said:
19,000 miles over 4 years from new. About 10,000 of that has been round Europe, mountain passes etc, at a fair pace, the rest UK and a mixture of local and runs out into North Yorkshire, the North Coast 500 and Wales.
Not that bad tbh I got 30k in the last 2yrs out of mine although that’s been a fair mix of driving Warranty Direct extended warranty in June when it hits 4 years old. Hope it's the right thing to do. Although the car has been perfect and I look after it (all of them) like they were, well, my cars. ;-)
Not much is selling by the way. Discuss.
*I wonder if a general "Chit chat about owning supercars" thread might be useful? Experiences, trips, problems etc.
Edited by _Leg_ on Tuesday 17th April 10:24
_Leg_ said:
Pain in the arse as I'm testing at Rockingham on Friday, racing at Rockingham in mid May and on a Lotus track day in Folombrey in late May and the GL is my tow car.
And I thought Ferrari brakes were expensive, lol.
At least the Citroen C1 brakes should be cheap.And I thought Ferrari brakes were expensive, lol.
I'm at Rockingham on Friday / May 12-13 too.
garystoybox said:
PompeyReece said:
Yes, thought that too but there may be restrictions ie thought you had to use certain garages etc.?
4 year warranty, 7 years servicing.Always main dealers whilst the servicing is 'free'.
To bring it back on topic, Yesterday I spoke to the specialist dealer that sold my car back in Jan (within 1 week) and they are saying that it is a particularly tough market right now and nothing is selling at sticker prices. I think it sold due to being a truly mint example and realistically priced.
POORCARDEALER said:
"sensibly priced" Until vendors realise thats the way, stuff will stick around.
True.Then when stock is sitting around for months on end, buyers will no doubt start to become concerned about static ageing of components.
Fair to that say most prestige stock is kept in show rooms or otherwise taken good care of, but when considering the mid-range market, much of this is in the open-air suffering the weather all year round.
Cheib said:
Apparently one of the main Ferrari dealers didn't sell a single car new or used in April....had a "crisis meeting" to discuss matters. Not sure which one but heard it from someone who I think is reliable and not prone to making stuff like that up.
I spoke to a car dealing acquaintance a couple of weeks ago - high end cars, high end clientele. Previously told me that "there was no such thing as a recession for the clients he helped out" - now, however, he says that "business is tough, really tough".I am not in the Supercar market as such yet, but have a keen interest in getting a used R8 at some point so keep an eye on prices at the lower (ish) end of the market - there are a lot of cars for sale that have been hanging around on the forecourt for a long time, and prices for those that are coming on to the market are now lower than a year ago, when folks were saying then that they thought "prices are as low as they are going to go". Wrong!
I also follow the original quattro market as I am fortunate to have one. Prices rose sharply for about 2 years and there were some very, very strong prices at auction about 6 months ago. At the point when people start exclaiming "how much" with surprise, then prices are looking dear for the rest of the market and it can't last. Prices of quattros have now visibly dropped.
On a different tack, a couple of property developing folks I know tell me that property prices in London and the SE are now falling and where I live in Norfolk, asking prices have also dropped slightly. The developers both said that, on average, "recessions happen about every 10 years, and its been roughly 10 years since the last one....."
The upshot of all this is that I think the economy may be starting to struggle and if you are trying to sell a high end car then now may not be the time to be very ambitious on price. If you are in the market to buy, it may be a good time to make low (ish) offers in the hope that the seller needs cash flow; or, it may be worth waiting a few more months to see how much further markets may fall.
Discuss.
andy97 said:
Cheib said:
Apparently one of the main Ferrari dealers didn't sell a single car new or used in April....had a "crisis meeting" to discuss matters. Not sure which one but heard it from someone who I think is reliable and not prone to making stuff like that up.
I spoke to a car dealing acquaintance a couple of weeks ago - high end cars, high end clientele. Previously told me that "there was no such thing as a recession for the clients he helped out" - now, however, he says that "business is tough, really tough".I am not in the Supercar market as such yet, but have a keen interest in getting a used R8 at some point so keep an eye on prices at the lower (ish) end of the market - there are a lot of cars for sale that have been hanging around on the forecourt for a long time, and prices for those that are coming on to the market are now lower than a year ago, when folks were saying then that they thought "prices are as low as they are going to go". Wrong!
I also follow the original quattro market as I am fortunate to have one. Prices rose sharply for about 2 years and there were some very, very strong prices at auction about 6 months ago. At the point when people start exclaiming "how much" with surprise, then prices are looking dear for the rest of the market and it can't last. Prices of quattros have now visibly dropped.
On a different tack, a couple of property developing folks I know tell me that property prices in London and the SE are now falling and where I live in Norfolk, asking prices have also dropped slightly. The developers both said that, on average, "recessions happen about every 10 years, and its been roughly 10 years since the last one....."
The upshot of all this is that I think the economy may be starting to struggle and if you are trying to sell a high end car then now may not be the time to be very ambitious on price. If you are in the market to buy, it may be a good time to make low (ish) offers in the hope that the seller needs cash flow; or, it may be worth waiting a few more months to see how much further markets may fall.
Discuss.
As for the high end market where there's demand and deeper pockets, the drop won't be as big.
Good old Brexit eh?
PompeyReece said:
The lower end sports car market, accessible by well off but not millionaire types, I think will suffer and looking at the market, now is a good time to buy a gen 1 R8 or Aston Martin especially considering it's the Summer. Additionally if you are prepared to be flexible and not worry about colour for example, there's some real low mileage bargains to be had.
As for the high end market where there's demand and deeper pockets, the drop won't be as big.
Good old Brexit eh?
Why brexit? Do you think leaving the EU has hurt our used car market?As for the high end market where there's demand and deeper pockets, the drop won't be as big.
Good old Brexit eh?
We still had a massive financial downturn in 2008, we were in the EU then with no idea we were leaving, the super car market bubble popped then, do you not think that excessive lending is the root of this as opposed to some political shambles?
FYI heard this week that there are currently 1000's of excess Mercedes being stored at docks around the country, maybe even manufacturers finance is harder to obtain now on new cars?
andy97 said:
On a different tack, a couple of property developing folks I know tell me that property prices in London and the SE are now falling and where I live in Norfolk, asking prices have also dropped slightly. The developers both said that, on average, "recessions happen about every 10 years, and its been roughly 10 years since the last one....."
Normally that's about right - a recession follows boom (often in a 10 year cycle) - however we've not had the boom yet; The economy is only recently starting to recover since 2007 so there is no 'correction' due...If the price is right anything will sell, TBH I wonder how or why folks in the know on here or otherwise allow themselves to be drawn in to paying more than is necessary for anything at all.
Surely once prices start to rise its to late, I’m no big car type guy but I know that when I paid 54k for my Ferrari 360 spider some five years ago manual an all that, that from a business perspective it simply cannot be worth 25/30 k more today, maybe 10k yes, and I would be happy to see such a return . Same with property, being realistic and selling many houses, or cars at small margins is better business sense. And so I’m not surprised that over hyped over valued cars, or houses are not selling, and being honest are Ferrari 488 and similar really worth the same value as say four of my trucks or twenty brand new trailers. Put simply no!
Just my thoughts, Mike
Surely once prices start to rise its to late, I’m no big car type guy but I know that when I paid 54k for my Ferrari 360 spider some five years ago manual an all that, that from a business perspective it simply cannot be worth 25/30 k more today, maybe 10k yes, and I would be happy to see such a return . Same with property, being realistic and selling many houses, or cars at small margins is better business sense. And so I’m not surprised that over hyped over valued cars, or houses are not selling, and being honest are Ferrari 488 and similar really worth the same value as say four of my trucks or twenty brand new trailers. Put simply no!
Just my thoughts, Mike
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