Chris Harris's Column -- Burst Bubble;Massive Dump;Bargains
Discussion
fakenews said:
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.
footsoldier said:
CitySlicker said:
Sls gt final edition @ 240,000!
I remember not long ago Romans international had a beautiful example and they were asking north of 300k!
And when they were new, no-one wanted one...I remember not long ago Romans international had a beautiful example and they were asking north of 300k!
Raven Flyer said:
Alpine property prices are going crazy in the right resorts. Growth is typically 2-3% but has been over 5% for the last few years and is close to 10% for the right place in the right village. The Brits are still in the market but most demand is from French buyers.
They’ve been very strong for the last ten years...for anyone in the UK buying any assets in other currencies right now is a bigger bet on the exchange rate than it is on the asset price. And yes I am in the I am the I wish I’d bought one ten years ago camp! Thought about it buy used to rent a place for the season with mates which was dirt cheap so didn’t....
Desert Dragon said:
Truth of it is not many still want one but may as well chance your arm and see if there's someone out there willing to pay silly money. Daft especially for example with cars like Speciale when there were so many made.
I don't think an insane amount of 458 spec's were made reallyI quite like the lm002 @ £180k
WCZ said:
I don't think an insane amount of 458 spec's were made really
I quite like the lm002 @ £180k
Supposedly around 3000 spec's worldwide, approx double the Scud and more than double the CS.I quite like the lm002 @ £180k
So in the context of Ferrari limited editions, a lot were made. This is a trend generally, look at the numbers of Porsche GT's, again more than double 991 GT's than 997. IMO the demand has been fueled by the cheap interest rates and ascent of PCP post GFC, and manufacturers couldn't resist spiking the numbers to make hay while the sun shined. We are now seeing the (start) of the correction as the supply numbers just got too high to sustain prices as soon as demand dropped off. This residual weakness is/will only kill demand further as the "investor" buyers vacate the market.
True.
Most of the older super cars are not financed and also the holding costs and depreciation curve has been tried and tested ie. 360s are 15 yrs old. The supply is limited so if you want a blue 360 then there is no guarantee one will come for sale.
All the modern stuff is owned by people for 3-6months as a show off toy and gets moved on.
Most of the older super cars are not financed and also the holding costs and depreciation curve has been tried and tested ie. 360s are 15 yrs old. The supply is limited so if you want a blue 360 then there is no guarantee one will come for sale.
All the modern stuff is owned by people for 3-6months as a show off toy and gets moved on.
carspath said:
'' What is yet to drop properly is the lower bracket of early Gallardos, 360s, 430s etc which just seem to remain unsold but prices unchanged. It's meaning the bunching of vehicles is getting bizarre in that a 2016 Huracan isn't much more than a 2007 pre-LP Gallardo.''
Yes , this disconnect appears to be real .
The '' bargains '' appear to be higher up the food chain
I wonder why :
1) These are cars that have been bought on finance , and the monthly payments are no longer affordable ?
( But UK unemployment figures remain low )
2) People are doing well enough to be able to upgrade to the newest, and shiniest new car ?
(But aren't new car sales down )
3) More people can afford a car from the lower end of the supercar price range than from the upper end , so there is more demand , which in turn gives a floor to the price ?
Yes , this disconnect appears to be real .
The '' bargains '' appear to be higher up the food chain
I wonder why :
1) These are cars that have been bought on finance , and the monthly payments are no longer affordable ?
( But UK unemployment figures remain low )
2) People are doing well enough to be able to upgrade to the newest, and shiniest new car ?
(But aren't new car sales down )
3) More people can afford a car from the lower end of the supercar price range than from the upper end , so there is more demand , which in turn gives a floor to the price ?
GioG - who do you think is on the hook for that long line of mclarens that are in storage because they aren’t selling?
Let’s pretend it’s a whole bunch of 540’s 570’s and 600’s - Do you think they are all unregistered? Has the dealer actually bought them from the factory - or is this factory output that’s been allocated to said dealer? so it’s McLaren themselves are still wearing this stock as a depreciating asset as the money hasn’t moved from A to B yet?
I am in the camp that hopes mclaren succeeds as a car builder but reading various threads on here the overhang seems huge and I’m not sure how they get rid of all of them- before we even mention the used market.
Let’s pretend it’s a whole bunch of 540’s 570’s and 600’s - Do you think they are all unregistered? Has the dealer actually bought them from the factory - or is this factory output that’s been allocated to said dealer? so it’s McLaren themselves are still wearing this stock as a depreciating asset as the money hasn’t moved from A to B yet?
I am in the camp that hopes mclaren succeeds as a car builder but reading various threads on here the overhang seems huge and I’m not sure how they get rid of all of them- before we even mention the used market.
Desert Dragon said:
Truth of it is not many still want one but may as well chance your arm and see if there's someone out there willing to pay silly money. Daft especially for example with cars like Speciale when there were so many made.
I bought an SLS with 2k miles on it in 2012 for 96k. Put 13k more on the clock and sold it for £140... love a bubble!Will buy another when prices come back down. Were on the way til one sold at Silverstone Auctions for big money and gave dealers some hope.
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