Will Corona effect the Supercar Market

Will Corona effect the Supercar Market

Author
Discussion

LaurasOtherHalf

20,017 posts

162 months

Sunday 11th October 2020
quotequote all
Without naming names, I've been looking at certain Porsche GT models and anything that sells is generally £10k under the asking price or at least 15% less.

Pvapour

8,981 posts

219 months

Sunday 11th October 2020
quotequote all
I’ve been staying in contact with 5 (Uk) Bentley dealers on a used mk3 gtc (also 2 in Europe)

No movement whatsoever March - August, Start of sept saw 10% offering, start ofOct another 5% and now a further 5% (on average).

There is obviously some seasonal changes in there due to open top but the rest is significant, just before Xmas may well see them at the price I think is right.

Louis Balfour

21,263 posts

188 months

Sunday 11th October 2020
quotequote all
Pvapour said:
I’ve been staying in contact with 5 (Uk) Bentley dealers on a used mk3 gtc (also 2 in Europe)

No movement whatsoever March - August, Start of sept saw 10% offering, start ofOct another 5% and now a further 5% (on average).

There is obviously some seasonal changes in there due to open top but the rest is significant, just before Xmas may well see them at the price I think is right.
I was closely monitoring the market for late Mk2 GTC Speeds (2015-2018) from March. Prices were probably at their lowest in March. Since then, supply has been very limited and prices strong. They firmed up over the summer and don't really seem to have dropped.

It's quite spec dependent though. If you don't mind colourful paint and funky interiors there are better deals to be had.

Intuitively, I think I'd expect Mk3s to be slightly softer and I suspect it would be possible to get a big chunk of a physical unregistered car. That is based upon nothing more than gut feeling though.

I would also add that, inevitably there will come a point where prices drop to where you want them. The question is, what is it worth to you to be in the car? At that sort of level there are people with deep enough pockets just to buy one for the summer and sod the hit.


Taffy66

4,543 posts

68 months

Sunday 11th October 2020
quotequote all
I'm tracking used Ferrari 812SF prices and their prices have been very saleable over the summer and selling quickly.However in the last couple of weeks their asking prices have dropped by at least £10k, For the first time there is one for sale at a Ferrari main dealer for less then £220k. I've said for a while that i won't buy one until they have crept below £200k which i believe will happen by early next year, or even sooner if Covid-19 and a no deal Brexit coincide on January 1st 2021.

av185

13,498 posts

93 months

Sunday 11th October 2020
quotequote all
Taffy66 said:
I'm tracking used Ferrari 812SF prices and their prices have been very saleable over the summer and selling quickly.However in the last couple of weeks their asking prices have dropped by at least £10k, For the first time there is one for sale at a Ferrari main dealer for less then £220k. I've said for a while that i won't buy one until they have crept below £200k which i believe will happen by early next year, or even sooner if Covid-19 and a no deal Brexit coincide on January 1st 2021.
No deal probable 10% surcharge on new cars could have the opposite affect though Taff depending on the actual car as it will tend to make nearly new more attractive thus support if not increase used prices.

Taffy66

4,543 posts

68 months

Sunday 11th October 2020
quotequote all
av185 said:
No deal probable 10% surcharge on new cars could have the opposite affect though Taff depending on the actual car as it will tend to make nearly new more attractive thus support if not increase used prices.
I still think they'll bodge a trade deal before the deadline as Boris is very good at playing brinkmanship.He's maintaining that the Aussie style deal will suit the UK in the event of a no deal Brexit.The EU negotiate with a weak hand as Germany and France are petrified at the prospect of tariffs being imposed on French wine and cheese plus 10% added to German cars.
We are France's biggest export market for wine and also Germany's third largest export market for their cars.

Cheib

20,401 posts

141 months

Sunday 11th October 2020
quotequote all
Taffy66 said:
av185 said:
No deal probable 10% surcharge on new cars could have the opposite affect though Taff depending on the actual car as it will tend to make nearly new more attractive thus support if not increase used prices.
I still think they'll bodge a trade deal before the deadline as Boris is very good at playing brinkmanship.He's maintaining that the Aussie style deal will suit the UK in the event of a no deal Brexit.The EU negotiate with a weak hand as Germany and France are petrified at the prospect of tariffs being imposed on French wine and cheese plus 10% added to German cars.
We are France's biggest export market for wine and also Germany's third largest export market for their cars.
Agree 100% with that....the economic backdrop bizarrely has strengthened Britain’s hand when it comes to this. In this climate the German car makers will not want a 10% tariff on their cars.

Calculator

705 posts

181 months

Sunday 11th October 2020
quotequote all
SSO said:
I just posted an update on the Supercar market coming out of Q3. Now that summer is over, it will be interesting to see if the market holds.
Good article as always, your writing style does a great job of distilling down a complex situation.

SSO

1,083 posts

157 months

Sunday 11th October 2020
quotequote all
Cheib said:
Very good it is too

https://karenable.com/supercar-market-update-q3-20...

I think your summary in the last paragraph hits the nail on the head....the summer shutdown allowed inventory to clear and created a pent up demand for cars in all price brackets both new and used. There are already signs in the used car adverts to me at least that we’re in for a long winter....nearly 20 992 Turbo S’s in the classifieds, a car which has only been out for a three or four months, is delivered in relatively low numbers and has had rave reviews. Normally there would only be a handful for sale by now
Much appreciated.

It does look like things are starting to slow down. Be interesting to see what happens with the 992 Turbo S's and Ferrari 812s over the next several months.

Ferruccio

1,532 posts

85 months

Sunday 11th October 2020
quotequote all
SSO said:
I just posted an update on the Supercar market coming out of Q3. Now that summer is over, it will be interesting to see if the market holds.
You said in your previous post “How this chapter of the Aston Martin story ends now all depends on the DBX, a $200k luxury SUV launched into the worst economic situation this century.”

Drove one recently.
Having been very sceptical, I have to say that it was a really, really nice thing.

SSO

1,083 posts

157 months

Sunday 11th October 2020
quotequote all
Ferruccio said:
You said in your previous post “How this chapter of the Aston Martin story ends now all depends on the DBX, a $200k luxury SUV launched into the worst economic situation this century.”

Drove one recently.
Having been very sceptical, I have to say that it was a really, really nice thing.
I am very interested to see Astons Q3 results and what the DBX order book looks like.

SSO

1,083 posts

157 months

Friday 29th January
quotequote all
Calculator said:
Good article as always, your writing style does a great job of distilling down a complex situation.
Thanks, I just posted the Jan 2021 update.

rat rod

2,211 posts

31 months

Friday 29th January
quotequote all
Not this old chestnut again rolleyes

ghost83

4,553 posts

156 months

Saturday 30th January
quotequote all
What would trade price be on a 15 plate 650s coupe? Just out of asking a couple of ppl then checking various sites,

There’s one at 92k

Friend in the trade reckons 60-65k
Another friend said 65k
Wbac 57k


So where are they at in reality

akadk

890 posts

145 months

Saturday 30th January
quotequote all
ghost83 said:
What would trade price be on a 15 plate 650s coupe? Just out of asking a couple of ppl then checking various sites,

There’s one at 92k

Friend in the trade reckons 60-65k
Another friend said 65k
Wbac 57k


So where are they at in reality
I agreed to buy the orange one for £92k from the previous owner last August for £80k, but pulled out...I imagine the trader paid less, maybe £75k

sardis

278 posts

142 months

Saturday 30th January
quotequote all
ghost83 said:
What would trade price be on a 15 plate 650s coupe? Just out of asking a couple of ppl then checking various sites,

There’s one at 92k

Friend in the trade reckons 60-65k
Another friend said 65k
Wbac 57k


So where are they at in reality
Haven’t you answered your own question here. Assuming that the WBAC you quoted is an actual bid, then that is the real price. Everything else you have quoted is ‘someone says’.

ghost83

4,553 posts

156 months

Sunday 31st January
quotequote all
sardis said:
Haven’t you answered your own question here. Assuming that the WBAC you quoted is an actual bid, then that is the real price. Everything else you have quoted is ‘someone says’.
Yeah but they’re quite low aren’t they and it’s £35k under which is a large amount

sardis

278 posts

142 months

Sunday 31st January
quotequote all
I agree, but it is a truism that any object is only worth what someone is actually prepared to pay for it. There are many threads and replies on here saying ‘I’ve been tracking Ferrari/Lambo/McLaren models for months’ the prices have remained the same and yet nothing is selling. That’s because the seller has unrealistic expectations of what the car is worth, probably because they’ve been listening to their mates/people in the trade etc.
I normally try and get a WBAC valuation on any car I am after, so that I know my true exposure at point of purchase, if it all goes Pete Tong the very next day and I need to sell fast, unlikely though that might be, I know what I have let myself in for. Try it on any of the comparable rivals such as F430, Lambo G etc and you will see it is £25-35k.
No doubt others will chime in with alternative views and that is fine, I just use it as a reality check on my man maths if it really does go to rats.
Finally if you are looking to trade in against something retail then that is a totally different conversation. Good luck with whatever you are trying to achieve.

driving

TP321

1,327 posts

164 months

Sunday 31st January
quotequote all
sardis said:
I agree, but it is a truism that any object is only worth what someone is actually prepared to pay for it. There are many threads and replies on here saying ‘I’ve been tracking Ferrari/Lambo/McLaren models for months’ the prices have remained the same and yet nothing is selling. That’s because the seller has unrealistic expectations of what the car is worth, probably because they’ve been listening to their mates/people in the trade etc.
I normally try and get a WBAC valuation on any car I am after, so that I know my true exposure at point of purchase, if it all goes Pete Tong the very next day and I need to sell fast, unlikely though that might be, I know what I have let myself in for. Try it on any of the comparable rivals such as F430, Lambo G etc and you will see it is £25-35k.
No doubt others will chime in with alternative views and that is fine, I just use it as a reality check on my man maths if it really does go to rats.
Finally if you are looking to trade in against something retail then that is a totally different conversation. Good luck with whatever you are trying to achieve.

driving
I do the same - WBAC will give you the cold hard truth about what the car is worth should you need to get out of it quickly

650spider

1,476 posts

137 months

Sunday 31st January
quotequote all
The grey 16 plate spider that is up for £98k was sent to me back in late November by a trader pal and was available for £80k or maybe less; I posted it up on the McLaren forum at the time along with a black spider at around £70K

I started negotiating on a 2019 600LT spider with less than 4k miles around the 2nd week of November and the price was a very firm £149,995.

By the week before Christmas I could of had it for £130k.

Lockdown happened, so I then decided to hold off until spring when we get a genuine look at the economy behind the mask of furlough and grants, as I think prices shall be very different then with more cars appearing on the market that already has more cars than buyers.

No dealers or WBAC want to buy any cars just now, nevermind expensive supercars, and shall only do so at a rock bottom price...

Great time to be a buyer currently; not so good if you need to sell.