Will Corona effect the Supercar Market

Will Corona effect the Supercar Market

Author
Discussion

Desert Dragon

741 posts

38 months

Saturday 21st March
quotequote all
And I give you my opinion. F.pointless.

For anyone that wants a valuation on their supercar in the current market. As a general rule of thumb whatever you think your supercar is worth. Try halving it and you MAY get a bid. Thats where we are IMO I'm afraid to say and virtually no point discussing values ad nausea even on a car forum. Stock mkt below 5000! No food or general supplies on shelves. In a zombie apocalypse what use are supercars?

andrew

8,994 posts

146 months

Saturday 21st March
quotequote all
Desert Dragon said:
In a zombie apocalypse what use are supercars?
go out to dinner ? NO
dtp ? NO
on holiday ? NO
shopping therapy ? NO
stay at home and watch f1 ? NO
overindulge in food and drink ? NO

go for a drive ? YES

hth

paul0843

1,529 posts

161 months

Saturday 21st March
quotequote all
Desert Dragon said:
LaurasOtherHalf said:
Has the collecting cars auction of the Scuderia selling at £104k been discussed yet?

LHD and fully serviced at 24k miles.
Whats the point? Any car inc Speciale is arguably worth half what the current ask is in the current market. Call up any dealer and ask for a bid on your car. Its worth somewhere between nothing and very little.

In fact thats a very good price considering..
Also think it’s fair money.
I heard of another lhd selling for £110k a year ago.

LaurasOtherHalf

17,110 posts

150 months

Saturday 21st March
quotequote all
paul0843 said:
Desert Dragon said:
LaurasOtherHalf said:
Has the collecting cars auction of the Scuderia selling at £104k been discussed yet?

LHD and fully serviced at 24k miles.
Whats the point? Any car inc Speciale is arguably worth half what the current ask is in the current market. Call up any dealer and ask for a bid on your car. Its worth somewhere between nothing and very little.

In fact thats a very good price considering..
Also think it’s fair money.
I heard of another lhd selling for £110k a year ago.
That's what I said in our WhatsApp chat about it-I was seriously surprised it got anywhere near that. Having said that, you only need to read the threads on here to see people blindly going about like nothing is really happening.

cgt2

1,561 posts

142 months

Saturday 21st March
quotequote all
paul0843 said:
Also think it’s fair money.
I heard of another lhd selling for £110k a year ago.
Still above mid 2015 level. I was about to buy a Scud from Francorchamps in Belgium for equal to £90k, another member on this forum beat me to the car while I was getting things together.

br d

7,545 posts

180 months

Saturday 21st March
quotequote all
Desert Dragon said:
In a zombie apocalypse what use are supercars?
Run the bds over for one.

Anyway, I have a full tank, weathers pretty mild and the roads are ghost like, I'm going out later to get the roof down and thrash the thing to within an inch of it's life. I'd say that makes it useful for something.

drcarrera

607 posts

179 months

Saturday 21st March
quotequote all
Realistically I think most supercars in private ownership are worth pretty much zero at the moment in as much as no one's going to be travelling around looking at cars when the country's in virtual lockdown and dealers won't want to be taking on any more stock. I was about to put my classic up for sale but what's the point? Even if someone came to look at it we couldn't go for a test drive as it's pretty difficult to keep two metres apart in a sports car!
I, like I most people I expect, will just have to sit tight and wait until the worst is over before trying to sell, at which point the sudden increase in cars for sale will mean supply massively outstrips demand. This, added to many people not wanting or being able to put money into toys, will mean prices will be decimated.

The only "plus" side for me personally is that I'm looking to replace the classic with a supercar so for me it will hopefully be swings and roundabouts. But it's going to be very difficult for a very long time.

IMI A

7,580 posts

155 months

Saturday 21st March
quotequote all
I fear your supercar may come off worse. And no one to fix her even when things were normal so little or in chance now. Drive carefully and enjoy what a day! What a week!!

paul0843

1,529 posts

161 months

Saturday 21st March
quotequote all
cgt2 said:
paul0843 said:
Also think it’s fair money.
I heard of another lhd selling for £110k a year ago.
Still above mid 2015 level. I was about to buy a Scud from Francorchamps in Belgium for equal to £90k, another member on this forum beat me to the car while I was getting things together.
Scuderia one of my favourite cars,and 2 months ago would have jumped at a £90k one.
If someone offered me one today at that price,I would probably pass.
Paul

LotusOmega375D

4,658 posts

107 months

Saturday 21st March
quotequote all
andrew said:
Desert Dragon said:
In a zombie apocalypse what use are supercars?
go out to dinner ? NO
dtp ? NO
on holiday ? NO
shopping therapy ? NO
stay at home and watch f1 ? NO
overindulge in food and drink ? NO

go for a drive ? YES

hth
I’ve just taken my Ferrari and Lotus out for a run along the local country roads. It’s actually the first time I have left our house since Sunday morning. It was very therapeutic. Out in the sunshine, cocooned from any contact with other people, eyes focused on the road ahead and ears enjoying the sound of the engines behind my head.

Not a lot of traffic: plenty of cyclists, a few cars, one horse-rider and, of course, the local drug dealer doing the morning rounds in his scruffy white van.

Special mention to the driver of the oncoming silver Astra, who started to turn right in front of me, then panicked and actually stopped across my carriageway, causing me to have to take sudden evasive action and pass him on the wrong side of the road. In over 30 years of driving I have never experienced that one before.

sopes1

20 posts

40 months

Saturday 21st March
quotequote all
Values will of course take a hit, anyone suggesting otherwise is on another planet, the extent of which I have no clue. That said I sold my Perf a week ago at a reasonable price, to a Chinese guy, oh the irony ! And I just collected the Scud from storage, taking Asbo out for a spin in the sunshine. Not much else to do ! Be safe all...

isaldiri

6,539 posts

122 months

Saturday 21st March
quotequote all
paul0843 said:
Scuderia one of my favourite cars,and 2 months ago would have jumped at a £90k one.
If someone offered me one today at that price,I would probably pass.
Paul
Hehe that's the thing. Everyone always says they will wait for car X to drop to a certain level before buying and when it actually does get there, they mostly then say they would wait till it's lower....

MAC 720S

905 posts

101 months

Saturday 21st March
quotequote all
Desert Dragon said:
In a zombie apocalypse what use are supercars?
I can escape, very quickly.

Ferruccio

1,136 posts

73 months

Saturday 21st March
quotequote all
Was at an independent Porsche garage yesterday, (getting an MOT on my MIni.)
I asked him for his thoughts on values. He’s been there >30 years.
He pointed at a 911 (I’m not sure which one exactly.)
He said he’d have give £75k for it last week.
Maybe £40k today.
He said it may be a good time to buy?

I said it will be at some point but it might be £30k next week.........

SagMan

479 posts

174 months

Saturday 21st March
quotequote all
If you need to get liquidity via sale of your car I feel for you, same as with every big current asset.

If you can ride it out then no change, as whenever you need to change, any correction will cover all cars value to value. Finance is a different matter!

I don't know which group I fall in as of yet by the way!

if in position to buy, wow, timing is everything.
But this reply is to get away with onslaught of doomed news, so take with pinch of salt.

But as with previous poster, went out for 2 hour drive and it was highly enjoyable so going to use as much as possible as long as I can.

Cheib

18,535 posts

129 months

Saturday 21st March
quotequote all
I remember a bloke I knew through work who had several cars on the drive and was a big customer of his OPC. Had a 6 month old Cayenne Turbo in 2008 which he decided he didn’t need and wanted out (he was an MD at a major investment bank so not feeling good about work). Before GFC car was probably a £65k trade value car. OPC refused to bid....after two days and lots of reneging on promised bids from independent dealers he eventually sold it for £28k.

footsoldier

1,622 posts

146 months

Saturday 21st March
quotequote all
isaldiri said:
paul0843 said:
Scuderia one of my favourite cars,and 2 months ago would have jumped at a £90k one.
If someone offered me one today at that price,I would probably pass.
Paul
Hehe that's the thing. Everyone always says they will wait for car X to drop to a certain level before buying and when it actually does get there, they mostly then say they would wait till it's lower....
And soon, everyone will have the chance to rectify the ‘I wish I’d bought one when they were £x’ stories....

Lowlands

19 posts

6 months

Saturday 21st March
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I had a deposit down on a 2010 California and was due to collect it about three weeks ago. The sale fell through as they wouldn’t sort an advisory that was flagged on the MOT they did just before collection date. I obviously feel very lucky that I didn’t buy just before the CV situation escalated but I would still like to buy one in the coming weeks or months.

How do I go about finding a decent car for sale at a depressed price? I’m following a couple of Facebook groups but should I be calling lots of dealers or are auctions my best bet?


SVJBalboni

134 posts

8 months

Saturday 21st March
quotequote all
You're going to get a lot of tire kickers coming out of the woodworks giving dealers offers which they'll never commit to. It's same people who claim to put a deposit on the newest supercar, tell everyone on social media and 6 months later when deliveries start they claim they flipped the car to make money.


Lee Jones Jnr

419 posts

124 months

Saturday 21st March
quotequote all
I think that the used market will be strong.
My 360 and Gallardo both sold at around purchase price after 14 and 12 months respectively and a LOT of miles and are now worth even more 7 and 8 years on as the entry point to a new equivalent is so much higher.
Fewer new cars will now be available and as the world is in the same situation not just a handful of owners I don't envisage a sell at any price atmosphere ahead.