Will Corona effect the Supercar Market

Will Corona effect the Supercar Market

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Discussion

Raygun

3,413 posts

75 months

Sunday 29th March
quotequote all
zedmtrappe said:
Raygun said:
Lots of wishful thinking and jealousy on this thread me thinks, with people's hoping and wishing the collapse of the luxury car market.
I disagree - it's just people addressing the inevitable...

And I'm coming from the position of a Gallardo owner who nearly sold 3 weeks ago at quite a discount - and am now looking at the prospect of my car being worth considerably less than it was 1 month ago.
At this moment in time without a doubt, like most things bar food and bog roll.
Just to say I haven't got a car worth over 20 grand anymore so not trying to promote my own agenda.

av185

11,248 posts

82 months

Sunday 29th March
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markst said:
somewhere in this thread it mentioned the number of Ferraris for sale on Autotrader...…..it was @922, which in itself was an increase....I've been watching, it went up to 940, and is now 966......be over 1000 shortly, lockdown aside.

but my money is on a huge increase in this as soon as this is over as people head for the exit.....
Easily explained by Autotrader offering free unlimited advertising atm.

Raygun

3,413 posts

75 months

Sunday 29th March
quotequote all
zedmtrappe said:
Raygun said:
Lots of wishful thinking and jealousy on this thread me thinks, with people's hoping and wishing the collapse of the luxury car market.
I disagree - it's just people addressing the inevitable...

And I'm coming from the position of a Gallardo owner who nearly sold 3 weeks ago at quite a discount - and am now looking at the prospect of my car being worth considerably less than it was 1 month ago.
At this moment in time without a doubt, like most things bar food and bog roll.
Just to say I haven't got a car worth over 20 grand anymore so not trying to promote my own agenda.

cgt2

1,618 posts

143 months

Sunday 29th March
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av185 said:
Easily explained by Autotrader offering free unlimited advertising atm.
Only for cars under £1000.

footsoldier

1,691 posts

147 months

Sunday 29th March
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Definitely not self interest or jealousy in saying that prices will drop....
It’s just reality, and only the scale is in question, dependant on how things work out in the ‘real world’.

xcentric

451 posts

174 months

Sunday 29th March
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as someone who was looking for their first Ferrari just before this crash, I wouldn't wish this disaster on anyone. Health and family are clearly more important. But given that, and given I'm still interested in buying one, I won't want to pay a price for a car that is not representative of its market value, and so discounts are inevitable. It just depends on your perspective on the financial impact of this crisis what you might expect that discount to be. 10% is certain. 20% likely, 30% feasible, and more for a few desperate sales. I'm having phone conversations with dealers and sellers who realise this - most are not down to lower levels yet but are all staying in contact.

(I'm mildly thankful that the Aston my wife bought a few weeks ago had catastrophic engine failure and so was rejected, as that would have lost a big chunk if it'd behaved itself as was sitting on the drive now).

DeejRC

1,309 posts

37 months

Sunday 29th March
quotequote all
Life is dynamic. It changes, mutates, flip flops and the wheel goes round. Humans are really really bad at processing that. Humans are instinctively conservative, stability and consistency are prized, loss is feared more than gain is desired.
We are also really bad at expecting change or planning for it. We think and plan on a stable basis, on continuity. As such, when change happens we are invariably really badly placed for it because the vast majority are not part of the change or driving the change, but reacting to it.
The other side of the coin is that the greatest strength of humanity overall is the adaptability. A minority of us ARE always looking out for the change, want the unpredictable. This is a necessity of ensuring humanity changes, adapts, evolves and drives us onwards.

As such from an anthropologist pov this situation is inherent, unavoidable and natural. The somewhat amusing(ish) irony here though, is, as Raygun himself then pointed out...the lack of dosh amongst most of those looking on for any "bargains". It will be relatively few on the other side of the transaction that have the spare cash to buy. So although lots of people looking on, asking the questions about the bargains to be had...the large majority of them won't be in position to take advantage anyway.

As I said elsewhere, my initial instinct is think 50% cuts, but I think reality will be more like 30% eventually. Because right now we are all just in a pause state. The logistics of life currently mean that nobody can sell or buy.

BlackR8

329 posts

32 months

Sunday 29th March
quotequote all
DeejRC said:
Life is dynamic. It changes, mutates, flip flops and the wheel goes round. Humans are really really bad at processing that. Humans are instinctively conservative, stability and consistency are prized, loss is feared more than gain is desired.
We are also really bad at expecting change or planning for it. We think and plan on a stable basis, on continuity. As such, when change happens we are invariably really badly placed for it because the vast majority are not part of the change or driving the change, but reacting to it.
The other side of the coin is that the greatest strength of humanity overall is the adaptability. A minority of us ARE always looking out for the change, want the unpredictable. This is a necessity of ensuring humanity changes, adapts, evolves and drives us onwards.

As such from an anthropologist pov this situation is inherent, unavoidable and natural. The somewhat amusing(ish) irony here though, is, as Raygun himself then pointed out...the lack of dosh amongst most of those looking on for any "bargains". It will be relatively few on the other side of the transaction that have the spare cash to buy. So although lots of people looking on, asking the questions about the bargains to be had...the large majority of them won't be in position to take advantage anyway.

As I said elsewhere, my initial instinct is think 50% cuts, but I think reality will be more like 30% eventually. Because right now we are all just in a pause state. The logistics of life currently mean that nobody can sell or buy.
I think many of those on here either 'hoping for' or 'predicting' for a huge crash so they can use the cash they have been saving to snap up supercars I think will find it more difficult to take the plunge than they may expect at the moment. If you are not willing to buy a supercar in a rising market, what are the chances that you would buy a supercar in a falling market? I guess if you can call the bottom then fair play but this is often easier said than done.


650spider

1,012 posts

126 months

Sunday 29th March
quotequote all
Every 10 or 12 years something bad happens and everything crashes...been through it a few times now.

Last time i had a Ferrari and it dropped to about 60% of what i paid for it and stayed at that level for a long time.....about 2+ years later it had crept back up to about the near the same price but still a small pool of buyers.

Only sell now if you really, really have to, or accept that currently most 'assets' are pretty near worthless but they shall get back to a value albeit in 2+ years time, and in the meantime enjoy it as you did before the crash (when the dust settles).

If your in the position, buying in the next few months will get you a great car that was probably not on the radar even 6 weeks ago, but remember the maintenance costs will remain high.

There are threads full of stories about 'i wish i had bought when they were that price'...well for the next period, this is that time.

Whatever the doom mongers may say about 'this is far worse than the last crash', it will always return back to how it was...always.

I appreciate that there is a vast amount of people whom may find talking about such materialistic things in the current climate offensive, but i am answering the exact topic question and my past experiences.

Hope it helps in some way.

av185

11,248 posts

82 months

Sunday 29th March
quotequote all
BlackR8 said:
I think many of those on here either 'hoping for' or 'predicting' for a huge crash so they can use the cash they have been saving to snap up supercars I think will find it more difficult to take the plunge than they may expect at the moment. If you are not willing to buy a supercar in a rising market, what are the chances that you would buy a supercar in a falling market? I guess if you can call the bottom then fair play but this is often easier said than done.
Yep very true.

Many on here always like to proclaim their interest in buying a supercar at a discounted price in hard times but in reality experience proves this is the usual forum big talk/bullst and the vast majority are Walts and or dreamers and nor do they have the ability to follow it through.

Andyoz

938 posts

9 months

Sunday 29th March
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650spider said:
Whatever the doom mongers may say about 'this is far worse than the last crash', it will always return back to how it was...always.

I appreciate that there is a vast amount of people whom may find talking about such materialistic things in the current climate offensive, but i am answering the exact topic question and my past experiences.

Hope it helps in some way.
Generally agree but the time of recovery is unknown. This one's a big one! Take a look at Japan.

Even though I haven't got skin in the game in terms of cars I do have commercial office property that I don't expect to be booming again in 6 months time.. Just being realistic based on data I'm seeing and preparing accordingly.

Hope is not a plan..

Edited by Andyoz on Sunday 29th March 16:17

av185

11,248 posts

82 months

Sunday 29th March
quotequote all
650spider said:
Speaking of which, still looking forward to that post of a group shot of all those cars you have marked as 'current' AV...
Not a good pic but heres a couple. Carrera T now sold

av185

11,248 posts

82 months

Sunday 29th March
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dvb247

257 posts

153 months

Sunday 29th March
quotequote all
Im sorry, I'm a tool as you say, swapping cars with your friends sticky hand prints on the wheel and gear stick, door handles etc. is perfect transmission conditions must be false information then?, my mistake...... sadly, idiots like you will spread this virus.


andymc said:
dvb247 said:
Holly st you swapped cars!!! MASSIVE NO NO for COVID-19 TRANSMISSION

Kid A said:
Probably one of the advantages of me driving a more plebeian car (a 981S). I took advantage of the empty roads and took it for a punt last weekend. Had a nice girl come along who also owned a sports car and we swapped cars and had a great time. Will do the same this weekend. Cars don't transmit the virus so I don't see any health hazard from driving on the empty roads. Someone's got to!

Back on topic, if supercar prices come down then I'll definitely be on the look-out. I'm already in the used market for a 570S but prices have only been slow to change here in Australia - suspect that might change after 6 months of this. I've been keeping tabs on each model - there are only about 15 in the whole of the country on the used car market - and I'll email dealers for any examples that have been on the floor for 12+ months. Figure they will be desperate to sell at some stage.
its people that transmit the virus you tool

cgt2

1,618 posts

143 months

Sunday 29th March
quotequote all
BlackR8 said:
I think many of those on here either 'hoping for' or 'predicting' for a huge crash so they can use the cash they have been saving to snap up supercars I think will find it more difficult to take the plunge than they may expect at the moment. If you are not willing to buy a supercar in a rising market, what are the chances that you would buy a supercar in a falling market? I guess if you can call the bottom then fair play but this is often easier said than done.
There will always be people with liquidity who only buy when they can more than cover any loss and others who finance themselves way over their means and unfortunately come unstuck. I know a few of the latter including a guy who works for me and it's worrying the extent some people will go to project an image in this social media age we live in.

cgt2

1,618 posts

143 months

Sunday 29th March
quotequote all
dvb247 said:
I think you're right. Scary!

Andyoz

938 posts

9 months

Sunday 29th March
quotequote all
cgt2 said:
BlackR8 said:
I think many of those on here either 'hoping for' or 'predicting' for a huge crash so they can use the cash they have been saving to snap up supercars I think will find it more difficult to take the plunge than they may expect at the moment. If you are not willing to buy a supercar in a rising market, what are the chances that you would buy a supercar in a falling market? I guess if you can call the bottom then fair play but this is often easier said than done.
There will always be people with liquidity who only buy when they can more than cover any loss and others who finance themselves way over their means and unfortunately come unstuck. I know a few of the latter including a guy who works for me and it's worrying the extent some people will go to project an image in this social media age we live in.
Someone made a really good point earlier in this thread I think. After 2008, interest rates dumped and PCP went crazy so a boom in prices was actually inevitable, even if economic conditions didn't really justify it in the early stages.

We've gone into this shock with those easy credit conditions already present. Governments have used all the shots in the financial Bozooka already.. They can't make interest rates any lower and surely PCP credit can't be made any more available (if they do it'll just kick can down the road).

SVJBalboni

140 posts

9 months

Sunday 29th March
quotequote all
BlackR8 said:
I think many of those on here either 'hoping for' or 'predicting' for a huge crash so they can use the cash they have been saving to snap up supercars I think will find it more difficult to take the plunge than they may expect at the moment. If you are not willing to buy a supercar in a rising market, what are the chances that you would buy a supercar in a falling market? I guess if you can call the bottom then fair play but this is often easier said than done.
Plenty of tire kickers out there who will never buy a supercar even if they drop 90%. Go on the Rolex forum and you have the same idiots going on about how Rolex's will drop 50% and they'll buy two.

Taffy66

3,811 posts

57 months

Sunday 29th March
quotequote all
SVJBalboni said:
Plenty of tire kickers out there who will never buy a supercar even if they drop 90%. Go on the Rolex forum and you have the same idiots going on about how Rolex's will drop 50% and they'll buy two.

^
This....or alternatively bullcensoreditters

LAM80W

804 posts

147 months

Sunday 29th March
quotequote all
SVJBalboni said:
Plenty of tire kickers out there who will never buy a supercar even if they drop 90%. Go on the Rolex forum and you have the same idiots going on about how Rolex's will drop 50% and they'll buy two.
Haha I’ve read some of that rubbish on there as well, clueless people saying things like ‘Daytona’s won’t have a waiting list in 6 months’ amongst other absolute nonsense.