Will Corona effect the Supercar Market
Discussion
xcentric said:
some massive divergences of perspectives on here.
I am not on social media; I do read the news. I also have a wife who works on the front line and is managing a systemic response to Covid-19; I'm doing minor parts on the end of a phone for a health trust.
To put some things into perspective, today I've joined an ethics panel that will convene as and when, 24/7, to help decide how we prioritise cases, should we need to. I hope we don't meet - but the first meeting is scheduled for Friday.
Given that the economy is going to essentially stop for at least two months, and probably until we have a widespread, effective vaccine (12 months? assuming that it mutates slower than usual flu, and that we can be effective against it), then most people are going to have nothing, zero, zilch, coming in for a long while. A roof over their heads and food on the table will be a priority. Everything else will be subservient to that. (Thanks goodness we're not like the US- the only places with long queues at the weekend were the gun stores.....)
Decent cars are an asset, but are illiquid in such times, and those that need to sell will have no choice. So prices will drop for those that have to let them go. There will be a few people looking to buy, but very few, and they will want a bargain. Personally, I see prices dropping about ?. It may not be for long (12-24 months) but there will be many forced sales in that time.
It's a desperate situation - it's far worse than 9/11, and far worse than the banking crisis - that was essentially all about funny money - this is about people's everyday lives stopping.
I am surprised so many people think it's like a bad dose of flu.....
I agree with everything you say however still maintain the long term effect will be much longer than 12-24 months..Pension pots have been decimated and with further big falls in the markets certain to happen in the coming months..I am not on social media; I do read the news. I also have a wife who works on the front line and is managing a systemic response to Covid-19; I'm doing minor parts on the end of a phone for a health trust.
To put some things into perspective, today I've joined an ethics panel that will convene as and when, 24/7, to help decide how we prioritise cases, should we need to. I hope we don't meet - but the first meeting is scheduled for Friday.
Given that the economy is going to essentially stop for at least two months, and probably until we have a widespread, effective vaccine (12 months? assuming that it mutates slower than usual flu, and that we can be effective against it), then most people are going to have nothing, zero, zilch, coming in for a long while. A roof over their heads and food on the table will be a priority. Everything else will be subservient to that. (Thanks goodness we're not like the US- the only places with long queues at the weekend were the gun stores.....)
Decent cars are an asset, but are illiquid in such times, and those that need to sell will have no choice. So prices will drop for those that have to let them go. There will be a few people looking to buy, but very few, and they will want a bargain. Personally, I see prices dropping about ?. It may not be for long (12-24 months) but there will be many forced sales in that time.
It's a desperate situation - it's far worse than 9/11, and far worse than the banking crisis - that was essentially all about funny money - this is about people's everyday lives stopping.
I am surprised so many people think it's like a bad dose of flu.....
This thread is specifically about how the supercar market will be affected.
We don’t need armchair experts offering up their predictions and opinions (presented as fact) on the wider economy. With respect, you don’t know sh*t. Even the most respected economists wouldn’t make bold black/white predictions about the long term impact of the situation at this time.
Right now, everyone has an opinion, and some of them will be proved to be correct. Doesn’t make them clever. Just lucky.
We don’t need armchair experts offering up their predictions and opinions (presented as fact) on the wider economy. With respect, you don’t know sh*t. Even the most respected economists wouldn’t make bold black/white predictions about the long term impact of the situation at this time.
Right now, everyone has an opinion, and some of them will be proved to be correct. Doesn’t make them clever. Just lucky.
I have been told by a friend in the trade Sytner have put an unprecedented amount of their high end stock on their auction website to try and shift some good quality retail stock across all brands.
Prices are bombing, not many companies are looking to buy stock either. Sadly there is only one way the prices are going until this is over, as mentioned by others buying a super car with the state of the economy due to this virus isn’t going to be people’s priorities, I know a number of owners of established businesses who have been hit massively already and doubt if they can survive if this goes on for weeks let’s alone months- I’m sure this will be the case for many business owners across the UK and this will no doubt result in people trying to panic sell their toys.
I’m sure someone will disagree but it’s the sad reality, the country is panicking and it is worrying.
Prices are bombing, not many companies are looking to buy stock either. Sadly there is only one way the prices are going until this is over, as mentioned by others buying a super car with the state of the economy due to this virus isn’t going to be people’s priorities, I know a number of owners of established businesses who have been hit massively already and doubt if they can survive if this goes on for weeks let’s alone months- I’m sure this will be the case for many business owners across the UK and this will no doubt result in people trying to panic sell their toys.
I’m sure someone will disagree but it’s the sad reality, the country is panicking and it is worrying.
Edited by LAM80W on Wednesday 18th March 21:45
Edited by LAM80W on Wednesday 18th March 21:46
DeuceDeuce said:
This thread is specifically about how the supercar market will be affected.
We don’t need armchair experts offering up their predictions and opinions (presented as fact) on the wider economy. With respect, you don’t know sh*t. Even the most respected economists wouldn’t make bold black/white predictions about the long term impact of the situation at this time.
Right now, everyone has an opinion, and some of them will be proved to be correct. Doesn’t make them clever. Just lucky.
Thanks for your “opinion”. We don’t need armchair experts offering up their predictions and opinions (presented as fact) on the wider economy. With respect, you don’t know sh*t. Even the most respected economists wouldn’t make bold black/white predictions about the long term impact of the situation at this time.
Right now, everyone has an opinion, and some of them will be proved to be correct. Doesn’t make them clever. Just lucky.
Predictions based on a weighing up of current facts and information available are not the same as baseless opinion (of which there are so many on PH). I suspect when the dust settles the former will be proved to be more accurate (if not wholly correct) than the latter.
Based on the current situation, with the shut down of significant parts of the global economy for an unknown length of time, and what has happened to supercar values in the past when there has been a recession, then I think it is likely that values will take a hit in the short term. However I don’t see values of true supercars like the F50 taking a hit as there are so few of them and probably not owned by people who desperately need the cash so can’t afford to wait out the crisis.
DeuceDeuce said:
This thread is specifically about how the supercar market will be affected.
We don’t need armchair experts offering up their predictions and opinions (presented as fact) on the wider economy. With respect, you don’t know sh*t. Even the most respected economists wouldn’t make bold black/white predictions about the long term impact of the situation at this time.
Right now, everyone has an opinion, and some of them will be proved to be correct. Doesn’t make them clever. Just lucky.
Exactly. We don’t need armchair experts offering up their predictions and opinions (presented as fact) on the wider economy. With respect, you don’t know sh*t. Even the most respected economists wouldn’t make bold black/white predictions about the long term impact of the situation at this time.
Right now, everyone has an opinion, and some of them will be proved to be correct. Doesn’t make them clever. Just lucky.
Take a look at China's economy which has rebounded and it was the epicentre. No question the supercar market will take a hit, economy will too but take a look at how much stimulus money is been pumped into the markets and helping businesses. Reading social media all day you would think we're at the doomsday scenario and the world is ending.
SVJBalboni said:
Exactly.
Take a look at China's economy which has rebounded and it was the epicentre. No question the supercar market will take a hit, economy will too but take a look at how much stimulus money is been pumped into the markets and helping businesses. Reading social media all day you would think we're at the doomsday scenario and the world is ending.
Just because there’s photos and reports floating around of people in China going back to office work does not mean they’re over this outbreak. It only means there’s photos and and reports of what they want their public and the world to see.Take a look at China's economy which has rebounded and it was the epicentre. No question the supercar market will take a hit, economy will too but take a look at how much stimulus money is been pumped into the markets and helping businesses. Reading social media all day you would think we're at the doomsday scenario and the world is ending.
Everything we have known, for some time, as a privileged asset based class of people, is about to mean nothing. All that will matter for the majority of people will be having a home and food to feed their family.
Reports today suggest the Govt. will effectively pay a universal wage to people to get them through the coming months. If that doesn’t trigger some sort of reality for you, nothing will. Our children will be paying for this for years to come.
This will be like nothing we have ever seen.
SVJBalboni said:
Exactly.
Take a look at China's economy which has rebounded and it was the epicentre. No question the supercar market will take a hit, economy will too but take a look at how much stimulus money is been pumped into the markets and helping businesses. Reading social media all day you would think we're at the doomsday scenario and the world is ending.
Ok, so don't read social media.Take a look at China's economy which has rebounded and it was the epicentre. No question the supercar market will take a hit, economy will too but take a look at how much stimulus money is been pumped into the markets and helping businesses. Reading social media all day you would think we're at the doomsday scenario and the world is ending.
Go and read the reports from Italy, start with the Imperial paper comissioned by the government.
Then take your bro-thoughts and shush
Jesus guys, come on...I think everyone can agree it’s a bad situation, unprecedented etc. But it’s not judgement day. All the actions that are being taken across the globe are for containment reasons - damage limitation.
Things will come back once all this is under control, but it may take longer than people want. A distressed sale is always going to be at a lower price, I think it’s pretty obvious that all assets (not just super cars) are taking a hit. Just look at the stock market for unilateral evidence of that.
Things will come back once all this is under control, but it may take longer than people want. A distressed sale is always going to be at a lower price, I think it’s pretty obvious that all assets (not just super cars) are taking a hit. Just look at the stock market for unilateral evidence of that.
I think it has stopped me putting mine up for sale when it comes back from the service. Selling these kind of cars is a pain at the best of times, but I really don't need muppets turning up telling me I'd be lucky if they took it away for free.
I really must force myself to use it more this year - especially on those nice empty roads......
I really must force myself to use it more this year - especially on those nice empty roads......
davek_964 said:
I think it has stopped me putting mine up for sale when it comes back from the service. Selling these kind of cars is a pain at the best of times, but I really don't need muppets turning up telling me I'd be lucky if they took it away for free.
I really must force myself to use it more this year - especially on those nice empty roads......
Other countries with lock-downs allow people out only by permit and only for essential reasons like food-shopping. Apart from going to the supermarket, I doubt we are going to be going far in our cars.I really must force myself to use it more this year - especially on those nice empty roads......
davek_964 said:
I think it has stopped me putting mine up for sale when it comes back from the service. Selling these kind of cars is a pain at the best of times, but I really don't need muppets turning up telling me I'd be lucky if they took it away for free.
I really must force myself to use it more this year - especially on those nice empty roads......
Unless you are distressed and have to, now is not the time to sell, you will be taking a bath. I really must force myself to use it more this year - especially on those nice empty roads......
Also with social distancing, just from a logistical viewpoint, it will be extra PiA.
The outlook for many SME's is pretty bleak.
Offers of Government loans to pay wages for 3-6 months with no prospect of any sales coming back on the horizon is NOT giving confidence to business owners.
Most of the people in business I know will have to make hard decisions, very soon.
USA predicting 20% unemployment, just pause for a second and think of the numbers...
This is about as serious a life event as we will experience, for many people, for some time.
There's a stark possibility that it'll take a long time for things to come back to anywhere the level of the inflated bubble we've been experiencing in recent times. In isolation, that alone may not be such a terrible thing. The personal loss to many families however, is going to be horrendous and life changing.
Offers of Government loans to pay wages for 3-6 months with no prospect of any sales coming back on the horizon is NOT giving confidence to business owners.
Most of the people in business I know will have to make hard decisions, very soon.
USA predicting 20% unemployment, just pause for a second and think of the numbers...
This is about as serious a life event as we will experience, for many people, for some time.
There's a stark possibility that it'll take a long time for things to come back to anywhere the level of the inflated bubble we've been experiencing in recent times. In isolation, that alone may not be such a terrible thing. The personal loss to many families however, is going to be horrendous and life changing.
SVJBalboni said:
Exactly.
Take a look at China's economy which has rebounded and it was the epicentre. No question the supercar market will take a hit, economy will too but take a look at how much stimulus money is been pumped into the markets and helping businesses. Reading social media all day you would think we're at the doomsday scenario and the world is ending.
UK is not responding to this like China did so I would not expect to mirror their timeline and recovery. Take a look at China's economy which has rebounded and it was the epicentre. No question the supercar market will take a hit, economy will too but take a look at how much stimulus money is been pumped into the markets and helping businesses. Reading social media all day you would think we're at the doomsday scenario and the world is ending.
For all the negative spin we in the West like to associate with China, for something like this, their collective national spirit is something that will help them recover more quickly...be it build 1000+ bed intensive care hospitals from literally nothing in about a week, to treating covid seriously and properly self isolating.
Here we are still debating how covid is different from seasonal flu?!?!
10,000+ people still cramming on to the tube in London, etc means this thing will spread more than necessary = will drag out for the rest of the year = business and society will be in hibernation = supercar prices will tank.
Larry5.2 said:
r o n n i e said:
Here we are still debating how covid is different from seasonal flu?!?!
For 98% of the population it isnt any different. It is more contagious but it isn't ebola and it isnt bubonic plague. The mass panic among the general population makes no sense to me.
Drl22 said:
Please stop watching the mainstream media all day! Christ
Apologies, quite the opposite, i did not want to mention that due to the sector i work in policy bods have been consulting our firm re: their planning. This covid support force you are now hearing about has been in the works for some time.Biggest concern is the drop in the pound, yes most of it will rebound, but anyone looking for EUR or USD spare parts could be gouged by unscrupulous shops looking for an excuse to add a ton of mark up...
davek_964 said:
Exactly.
The mass panic among the general population makes no sense to me.
Yeah the mass panic is also the wrong response as it’s just as unhelpful as the blasé this is nothing attitude. The mass panic among the general population makes no sense to me.
People just need to respect this thing so that necessary measures can br effective and we can move to recovery sooner.
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