Chris Harris's Column -- Burst Bubble;Massive Dump;Bargains
Discussion
breadvan said:
Cheib said:
Absolutely and none of them will stop making cars to manage residuals in the second hand market....Ferrari might have done in days gone by but not now. Very expensive to slow down or stop production so they will all keep churning out cars.
An awful lot of people bought these cars because they were cheap to run in % depreciation terms or to get access to your Pista/GT2 RS/675 LT. That game is gone now.....buying cars now the depreciation you would suffer to get access to a limited edition car just makes absolutely no sense at all.
To the benefit of mid level cars like the GT4.An awful lot of people bought these cars because they were cheap to run in % depreciation terms or to get access to your Pista/GT2 RS/675 LT. That game is gone now.....buying cars now the depreciation you would suffer to get access to a limited edition car just makes absolutely no sense at all.
Spoke to my dealer (of 20 years) yesterday about px-ing my 992 for a pdk GT4 next year and he said I had absolutely no chance what so ever. I only buy 1 new Porsche a year and just retired so no more need for Cayennes etc. Maybe if I was a more prolific flipper............
Two years ago OPC’s could sell every car they were allocated whether a Macan or a 911....now they are struggling to shift those cars so I think it’s probably easier to buy yourself a GT slot than it was two years ago. Just look at the amount of 992’s that are up for sale....last time I looked there were 100 on the AUC site....so every OPC has roughly got three used cars plus a demo or two plus new cars coming through looking for a home.
Cheib said:
breadvan said:
Cheib said:
Absolutely and none of them will stop making cars to manage residuals in the second hand market....Ferrari might have done in days gone by but not now. Very expensive to slow down or stop production so they will all keep churning out cars.
An awful lot of people bought these cars because they were cheap to run in % depreciation terms or to get access to your Pista/GT2 RS/675 LT. That game is gone now.....buying cars now the depreciation you would suffer to get access to a limited edition car just makes absolutely no sense at all.
To the benefit of mid level cars like the GT4.An awful lot of people bought these cars because they were cheap to run in % depreciation terms or to get access to your Pista/GT2 RS/675 LT. That game is gone now.....buying cars now the depreciation you would suffer to get access to a limited edition car just makes absolutely no sense at all.
Spoke to my dealer (of 20 years) yesterday about px-ing my 992 for a pdk GT4 next year and he said I had absolutely no chance what so ever. I only buy 1 new Porsche a year and just retired so no more need for Cayennes etc. Maybe if I was a more prolific flipper............
Two years ago OPC’s could sell every car they were allocated whether a Macan or a 911....now they are struggling to shift those cars so I think it’s probably easier to buy yourself a GT slot than it was two years ago. Just look at the amount of 992’s that are up for sale....last time I looked there were 100 on the AUC site....so every OPC has roughly got three used cars plus a demo or two plus new cars coming through looking for a home.
LaurasOtherHalf said:
If the GT cars start to follow a natural depreciation curve however, will people start to clamber to own them?
Obviously not. Some people will get burnt as normal market conditions will eventually prevail. I noticed that on mobile.de there were 20 Speedsters up for sale already - all commanding a hearty premium but they are building almost 2000 of them at a healthy EUR 300k so lets see how many takers there are at the end.W111AAM said:
Anyone seen Tom Hartley Jnr Instagram story last night. He's offering a 2019 Ferrari GTC V12, 300 miles on the clock, big spec, nice colour combo for £100k below list. Wow.
I saw that too... pretty incredible.... I'm sure these guys have it figured out, but if they are holding onto stock thats also taking it hit, you'd think he'd be more worried.Yidwann said:
I saw that too... pretty incredible.... I'm sure these guys have it figured out, but if they are holding onto stock thats also taking it hit, you'd think he'd be more worried.
many bought a lusso to get a pista or simply because ferrari told them to, many didn't want the car WCZ said:
Yidwann said:
I saw that too... pretty incredible.... I'm sure these guys have it figured out, but if they are holding onto stock thats also taking it hit, you'd think he'd be more worried.
many bought a lusso to get a pista or simply because ferrari told them to, many didn't want the car I've no sympathy for anyone that's let a purchase decision be guided by how much more the car will be worth.
The time looks to have come to an end when the manufacturers are deciding what the special cars are. Porsche and now Ferrari have totally gubbed that game for themselves. Back to letting the market decide what appreciates.
Porsche have gone full overt now with their mission to dilute their GT car name. Openly testing the RS GT4 when people are still waiting for their boggo ones? Maybe they don't care or maybe they are paving the way for cross board limitless production? Will the same number of people buy them if they don't have the ability to flip them? Our local OPC is always bursting with flipped cars after every launch so I suspect not! There's a definite change in tactics from Porsche though. Imagine that actually being able to buy a car that a company produces. Whatever next?
The time looks to have come to an end when the manufacturers are deciding what the special cars are. Porsche and now Ferrari have totally gubbed that game for themselves. Back to letting the market decide what appreciates.
Porsche have gone full overt now with their mission to dilute their GT car name. Openly testing the RS GT4 when people are still waiting for their boggo ones? Maybe they don't care or maybe they are paving the way for cross board limitless production? Will the same number of people buy them if they don't have the ability to flip them? Our local OPC is always bursting with flipped cars after every launch so I suspect not! There's a definite change in tactics from Porsche though. Imagine that actually being able to buy a car that a company produces. Whatever next?
fridaypassion said:
Porsche have gone full overt now with their mission to dilute their GT car name. Openly testing the RS GT4 when people are still waiting for their boggo ones? Maybe they don't care or maybe they are paving the way for cross board limitless production? Will the same number of people buy them if they don't have the ability to flip them? Our local OPC is always bursting with flipped cars after every launch so I suspect not! There's a definite change in tactics from Porsche though. Imagine that actually being able to buy a car that a company produces. Whatever next?
Porsche just don't know when to stop, people will only take so much before they come to the conclusion 'Porsche are taking the piss'. Mind you the cult is quite strong.Yidwann said:
W111AAM said:
Anyone seen Tom Hartley Jnr Instagram story last night. He's offering a 2019 Ferrari GTC V12, 300 miles on the clock, big spec, nice colour combo for £100k below list. Wow.
I saw that too... pretty incredible.... I'm sure these guys have it figured out, but if they are holding onto stock thats also taking it hit, you'd think he'd be more worried.Personally i'm happy and consider myself very fortunate to be picking up my new GT3 RS WP next tuesday..Why do i say that.? Well its because if i wasn't then i'd be mightily tempted by a nice F12 at under £160K or alternatively a 600LT or Performante for a shade over.
I firmly believe that we are going to experience a prolonged global recession which will be difficult to get out of..My reasoning is that central banks have exhausted all avenues by huge money printing coupled with the last ten years fuelled solely by borrowing(government,corporate,personal) with artificially historic low rates.
I can't envisage any scenario in the medium term which will halt the continued drop in asset prices, especially luxury cars..All IMHO of course.
I firmly believe that we are going to experience a prolonged global recession which will be difficult to get out of..My reasoning is that central banks have exhausted all avenues by huge money printing coupled with the last ten years fuelled solely by borrowing(government,corporate,personal) with artificially historic low rates.
I can't envisage any scenario in the medium term which will halt the continued drop in asset prices, especially luxury cars..All IMHO of course.
Taffy66 said:
Personally i'm happy and consider myself very fortunate to be picking up my new GT3 RS WP next tuesday..Why do i say that.? Well its because if i wasn't then i'd be mightily tempted by a nice F12 at under £160K or alternatively a 600LT or Performante for a shade over.
I firmly believe that we are going to experience a prolonged global recession which will be difficult to get out of..My reasoning is that central banks have exhausted all avenues by huge money printing coupled with the last ten years fuelled solely by borrowing(government,corporate,personal) with artificially historic low rates.
I can't envisage any scenario in the medium term which will halt the continued drop in asset prices, especially luxury cars..All IMHO of course.
Agree with your post. Big question is where to put the money safely and enjoy it if you're not blowing it on a car! I firmly believe that we are going to experience a prolonged global recession which will be difficult to get out of..My reasoning is that central banks have exhausted all avenues by huge money printing coupled with the last ten years fuelled solely by borrowing(government,corporate,personal) with artificially historic low rates.
I can't envisage any scenario in the medium term which will halt the continued drop in asset prices, especially luxury cars..All IMHO of course.
I did listen to the "Intelligence" podcast last week from the Economist and they were talking about whether Europe was heading into recession, it was a good listen, short and seemed pretty factual. The consensus seemed to be that were not going to head into a recession, but the rate of economic growth is going to continue to be very slow for some time to come.
WCZ said:
Yidwann said:
I saw that too... pretty incredible.... I'm sure these guys have it figured out, but if they are holding onto stock thats also taking it hit, you'd think he'd be more worried.
many bought a lusso to get a pista or simply because ferrari told them to, many didn't want the car Matt Munson also had a Lusso but no idea if he still has it.
If you want the halo cars then you have to but the cooking versions first it seems.
Gassing Station | Supercar General | Top of Page | What's New | My Stuff