Will Corona effect the Supercar Market

Will Corona effect the Supercar Market

Author
Discussion

Saweep

5,161 posts

141 months

Monday 18th May
quotequote all
RT964 said:
dmahon said:
Im the same. I’ve almost talked myself into a 458 or 488 if we are going to get stuck in the UK all summer. I don’t want to take a 10k hit and then dealer margins as well on the transaction.
If you are going to just buy a car for the summer, you'll always get hit by the dealer margin. As for the £10k hit you mention, who knows ?!

I bought a 458 earlier this year. Yes, maybe my timing could have been better as I picked it up at the end of Feb, however I bought it at what I thought was a very good price compared to what else was on the market (a lot of which are still on the market).

Do I think I'd have got an even better deal if I'd waited until now ? Possibly. Another £10k off - I doubt it. And anyway, I've had the pleasure of driving the car over the past 3 months and have done more miles than the previous owner did in 18 months ... mind you, he only did 400 miles, so that wasn't difficult biggrin
I bought a 458 last year from a Ferrari dealer. More than doubled its miles from 5-12k. Cost me 10k in 10 months.

I thought it was a pretty sweet deal all things considered!

SSO

823 posts

146 months

Friday 22nd May
quotequote all
fastraxx said:
oml130 said:
Where can I find this article, please?
https://karenable.com/maintenance-costs-ferraris/
Similar article covering the McLarens just posted.

ghost83

3,880 posts

145 months

Friday 22nd May
quotequote all
SSO said:
Similar article covering the McLarens just posted.
Yep was a good read,

paddy1970

46 posts

64 months

Sunday 24th May
quotequote all
Ok, I have looked at the selling price of the following cars (mileage<100k, more than 5 new listings or modified listings in the last week on autotrader) and it seems that there has been a drop of -4.1% in selling price from last week.



Edited by paddy1970 on Sunday 24th May 17:27

Saweep

5,161 posts

141 months

Sunday 24th May
quotequote all
paddy1970 said:
Ok, I have looked at the selling price of the following cars (mileage<100k, more than 5 new listings or modified listings in the last week on autotrader) and it seems that there has been a drop of -4.1% in selling price from last week.



Edited by paddy1970 on Sunday 24th May 17:27
That's a lot in a week.

Regy53

68 posts

86 months

Sunday 24th May
quotequote all
paddy1970 said:
Ok, I have looked at the selling price of the following cars (mileage<100k, more than 5 new listings or modified listings in the last week on autotrader) and it seems that there has been a drop of -4.1% in selling price from last week.



Edited by paddy1970 on Sunday 24th May 17:27
how do you get this info, is it a report or made by yourself?

dmahon

359 posts

19 months

Sunday 24th May
quotequote all
Good report. Could you include Ferrari 458 and 488 if you have the data?

SVJBalboni

143 posts

9 months

Sunday 24th May
quotequote all
I expect Pista's to drop further. Ferrari built too many of them so collectability status is out the window.

Cheib

18,799 posts

130 months

Sunday 24th May
quotequote all
Interesting though I think it’ll be end of June when we really start to see prices move....seems like most big franchised dealers will be back operating next month. My guess is they’ll see how the market is once they are back open (whatever that looks like) and then end of the month start re-pricing. Can’t see them walking in the door and reducing prices straight away

Taffy66

3,837 posts

57 months

Sunday 24th May
quotequote all
Cheib said:
Interesting though I think it’ll be end of June when we really start to see prices move....seems like most big franchised dealers will be back operating next month. My guess is they’ll see how the market is once they are back open (whatever that looks like) and then end of the month start re-pricing. Can’t see them walking in the door and reducing prices straight away
Most likely scenario...I'm holding out to see how things pans out however if there is an almighty crash then there will be plenty of people including me snapping up car bargains.

SVJBalboni

143 posts

9 months

Sunday 24th May
quotequote all
Prices will tumble as inventories start to increase and add in private sellers who can't trade or sell their cars to dealers.

I've been following SVJ/SV prices and I'm noticing SVJ prices are dropping fast but still a ways off from hitting 300. I reckon my car will lose around 80k maybe more if I were to trade it in assuming a dealer would take it in. SV coupes seem to have bottomed out around 250ish. Lets see what happens in the coming months.

paddy1970

46 posts

64 months

Monday 25th May
quotequote all
Regy53 said:
how do you get this info, is it a report or made by yourself?
I made it myself. I will try to update it on a weekly basis.

paddy1970

46 posts

64 months

Monday 25th May
quotequote all
dmahon said:
Good report. Could you include Ferrari 458 and 488 if you have the data?
Not enough data to be meaningful. I only included cars that have more than 5 new or modified listings.

Auto810graphy

581 posts

47 months

Monday 25th May
quotequote all
Taffy66 said:
Most likely scenario...I'm holding out to see how things pans out however if there is an almighty crash then there will be plenty of people including me snapping up car bargains.
There are a lot of people in this situation which could slow any major price adjustments.

Turbo cab

1,358 posts

187 months

Monday 25th May
quotequote all
Taffy66 said:
Cheib said:
Interesting though I think it’ll be end of June when we really start to see prices move....seems like most big franchised dealers will be back operating next month. My guess is they’ll see how the market is once they are back open (whatever that looks like) and then end of the month start re-pricing. Can’t see them walking in the door and reducing prices straight away
Most likely scenario...I'm holding out to see how things pans out however if there is an almighty crash then there will be plenty of people including me snapping up car bargains.
Most high end car dealers have still been opperating throughout lockdown and some prices have been adjusted accordingly, it was only last week my SVJ roadster was sold through one of them, an 8 month old car with delivery mileage. Yes I took a substantial hit but I feel I was was lucky to get out of it given how many the're making and the discounts I've heard that are now available due to people walking away from their orders.

Cheib

18,799 posts

130 months

Monday 25th May
quotequote all
Turbo cab said:
Taffy66 said:
Cheib said:
Interesting though I think it’ll be end of June when we really start to see prices move....seems like most big franchised dealers will be back operating next month. My guess is they’ll see how the market is once they are back open (whatever that looks like) and then end of the month start re-pricing. Can’t see them walking in the door and reducing prices straight away
Most likely scenario...I'm holding out to see how things pans out however if there is an almighty crash then there will be plenty of people including me snapping up car bargains.
Most high end car dealers have still been opperating throughout lockdown and some prices have been adjusted accordingly, it was only last week my SVJ roadster was sold through one of them, an 8 month old car with delivery mileage. Yes I took a substantial hit but I feel I was was lucky to get out of it given how many the're making and the discounts I've heard that are now available due to people walking away from their orders.
I think that was a very sensible move and yes I agree that the high end dealers have been open but I think the main dealer groups have been largely shut. Sytner owned dealers across all brands have been shut for example...with maybe a skeleton staff back now.

andy97

3,897 posts

177 months

Tuesday 26th May
quotequote all

Petrus1983

3,765 posts

117 months

Monday 1st June
quotequote all
I’m hearing about some very strong sales in the 2nd hand supercar market today.

SSO

823 posts

146 months

Monday 1st June
quotequote all
Petrus1983 said:
I’m hearing about some very strong sales in the 2nd hand supercar market today.
I just posted an article updating Aston, Ferrari, and McLaren's business results and situation. It's not at all pretty.

Regy53

68 posts

86 months

Monday 1st June
quotequote all
ferraris i was looking at have sold after being on the market since feb...