Will Corona effect the Supercar Market

Will Corona effect the Supercar Market

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Discussion

Pvapour

8,876 posts

209 months

Wednesday 3rd June
quotequote all
Cheib said:
Pvapour said:
Cheib said:
Pvapour said:
I would stick, I’ve said it before, but I think the demand for big luxury vehicles is going to increase as people with money realise their holiday options are now limited to driving through Europe, that or charter small jets in syndicates via fab groups at small airports to get distancing and lower risks.
Don’t think chartering small jets is much of an option...I was talking to a friend last night who has a place in Portugal, normally spends the summer there. He’s thinking of going out there and could most definitely afford to charter a private jet if he felt so inclined....I asked and he said he had checked the price and it was ludicrous. Guessing they’ll be very, very expensive for the foreseeable !
From bergerac airport To Agadir (morroco) - 8 people - £13k return = £1600 each, we paid a fair bit more than that for business class to South Africa last year, granted it an 11hr flight as opposed to 3hr but i’d happily pay £1600 to get a clear airport (as they can schedule between other flights) and pretty comfy seats.

Heres some other examples

https://www.privatefly.com/private-jets/medium-jet...

Wouldnt take much to get 8 people together or even 12 if you wanted to get further away, plus because the plane is smaller you can fly direct to some of the more exotic locations..
You’ve done that recently ? Seems very good value ! Those were the kind of prices I’d heard in the past before anyone had heard of Covid 19 !
Thought same, pretty much covered 5 hours flying time, I enquired last week as some islands and countries are setting up travel bubbles but you need a lower risk way of getting there... maybe if demand increases then the prices will but id still happily pay 3k to get somewhere really nice for 4 weeks tbh.

Regy53

79 posts

87 months

Saturday 6th June
quotequote all
Having been watching the 458 market since march this is the first dealer car i have seen that looks to have covid 19 pricing against it for the spec / miles. It says crash damage, it was a valeter in the dealership so it had a bumper and a wing which wouldn't really put many off i suppose. It sold within a day apparently. I viewed a car today with 10000 miles more Italia for the same price, similar spec.

https://preowned.ferrari.com/en/gb/search/2012/fer...

And another 458 gone up 5k...

https://www.jct600.co.uk/used-cars/ferrari-458-ita...

Edited by Regy53 on Saturday 6th June 15:32

garystoybox

367 posts

73 months

Saturday 6th June
quotequote all
Regy53 said:
Having been watching the 458 market since march this is the first dealer car i have seen that looks to have covid 19 pricing against it for the spec / miles. It says crash damage, it was a valeter in the dealership so it had a bumper and a wing which wouldn't really put many off i suppose. It sold within a day apparently. I viewed a car today with 10000 miles more Italia for the same price, similar spec.

https://preowned.ferrari.com/en/gb/search/2012/fer...

And another 458 gone up 5k...

https://www.jct600.co.uk/used-cars/ferrari-458-ita...

Edited by Regy53 on Saturday 6th June 15:32
The JCT car has had a price increase because as of Monday this week it is now Ferrari Newcastle and has to come with a 2 year approved Ferrari warranty which costs the dealer just over £5k. It also has to go through the full pre approved check which will likely have highlighted additional prep and cost. It’s sat with them since the beginning of the year as a Bentley retailer; nice car but overpriced.

Regy53

79 posts

87 months

Saturday 6th June
quotequote all
garystoybox said:
The JCT car has had a price increase because as of Monday this week it is now Ferrari Newcastle and has to come with a 2 year approved Ferrari warranty which costs the dealer just over £5k. It also has to go through the full pre approved check which will likely have highlighted additional prep and cost. It’s sat with them since the beginning of the year as a Bentley retailer; nice car but overpriced.
Where do you see it at ? its on my list... along with one thats been in stock since xmas which sounds like ages ago but covid was March so it really had jan and feb to sell

https://preowned.ferrari.com/en/gb/search/2012/fer...

TP321

1,189 posts

154 months

Saturday 6th June
quotequote all
garystoybox said:
The JCT car has had a price increase because as of Monday this week it is now Ferrari Newcastle and has to come with a 2 year approved Ferrari warranty which costs the dealer just over £5k. It also has to go through the full pre approved check which will likely have highlighted additional prep and cost. It’s sat with them since the beginning of the year as a Bentley retailer; nice car but overpriced.
Overpriced? That's certainly the understatement of the year ...its a 2012 458 for £148k!! ridiculous

Regy53

79 posts

87 months

Saturday 6th June
quotequote all
Hmmm i suppose i never looked at 458's before they all seem to be up there in pricing and some are selling.

This car is a 1 owner 7k mile 458. Maybe it matters not. I offered 138k when it was 143k They declined

jsw777

24 posts

3 months

Saturday 6th June
quotequote all
Regy53 said:
Having been watching the 458 market since march this is the first dealer car i have seen that looks to have covid 19 pricing against it for the spec / miles. It says crash damage, it was a valeter in the dealership so it had a bumper and a wing which wouldn't really put many off i suppose. It sold within a day apparently. I viewed a car today with 10000 miles more Italia for the same price, similar spec.

https://preowned.ferrari.com/en/gb/search/2012/fer...

And another 458 gone up 5k...

https://www.jct600.co.uk/used-cars/ferrari-458-ita...

Edited by Regy53 on Saturday 6th June 15:32
The spider has been accident repaired which I think is why it is priced at that.

The second car, the best I managed to get them too was £141k.

SSO

831 posts

147 months

Friday 3rd July
quotequote all
I just posted up on our site an article on what I see as the current status of the supercar market. While things have been very stable to date, it really depends on what segment of the market you are looking at. Also the forces that have driven the current stability are likely to shift in the coming months.

Harris_I

3,078 posts

215 months

Friday 3rd July
quotequote all
SSO said:
I just posted up on our site an article on what I see as the current status of the supercar market. While things have been very stable to date, it really depends on what segment of the market you are looking at. Also the forces that have driven the current stability are likely to shift in the coming months.
Thanks SSO. Great blog, as always.

For those who need the link:

https://karenable.com/supercar-market-update-q2-20...


Cheib

18,954 posts

131 months

Friday 3rd July
quotequote all
Harris_I said:
SSO said:
I just posted up on our site an article on what I see as the current status of the supercar market. While things have been very stable to date, it really depends on what segment of the market you are looking at. Also the forces that have driven the current stability are likely to shift in the coming months.
Thanks SSO. Great blog, as always.

For those who need the link:

https://karenable.com/supercar-market-update-q2-20...
Great read as ever. That’s an incredible stat about the Top 100 Collectors owing 350 cars each ! Blimey

xcentric

459 posts

175 months

Saturday 4th July
quotequote all
Cheib said:
Great read as ever. That’s an incredible stat about the Top 100 Collectors owing 350 cars each ! Blimey

35 each, on average..... not 350

Pvapour

8,876 posts

209 months

Saturday 4th July
quotequote all
Prices were definitely holding (apart from a lhd GTR i was offered) so ended up buying and now enjoying in the small window we have b4 next lockdown, i suspect many are doing the same, hence prices holding and increasing in some cases.

markst

Original Poster:

228 posts

121 months

Saturday 4th July
quotequote all
i liked that blog......and quite agree ...reality has not sunk in yet...

just wait until all that free money dries up.....gulp

of course, i hope it all turns out ok....but i doubt it.

great time to sell............


FezSpider

639 posts

188 months

Saturday 4th July
quotequote all
markst said:
i liked that blog......and quite agree ...reality has not sunk in yet...

just wait until all that free money dries up.....gulp

of course, i hope it all turns out ok....but i doubt it.

great time to sell............
You don't happen to work for BBC news do you? biggrin

Bo_apex

1,100 posts

174 months

Sunday 5th July
quotequote all
Pvapour said:
I would stick, I’ve said it before, but I think the demand for big luxury vehicles is going to increase as people with money realise their holiday options are now limited to driving through Europe, that or charter small jets in syndicates via fab groups at small airports to get distancing and lower risks.
I agree and see an uplift coming for capable, dynamic and comfortable GT cars of all eras.
We're chartering soon for a French trip as 8 of us are piling down but when it's just the two of us driving is more fun than sitting in a tin can.


jimmyslr

706 posts

229 months

Sunday 5th July
quotequote all
markst said:
i liked that blog......and quite agree ...reality has not sunk in yet...

just wait until all that free money dries up.....gulp

of course, i hope it all turns out ok....but i doubt it.

great time to sell............
I think this is largely correct and I’m also in the same place as the blog.

The one build to the theme in the blog around a lot of sales at the top end of the market is the impact of consumer distress at the low end of the market. Whilst the person buying a new M3 or an older 997 isn’t the same as the person taking as the one selling the classic Ferrari I think they are all part of an ecosystem. Across each ownership boundary we see buyers moving up and down the various models, for instance the Lotus owner who buys a Porsche next (or as well) or the Porsche owner who moves to a Ferrari and so on. Ignoring the financial position of the super car owners or collectors, as the lower end of the market sees the inevitable pressure from material job losses they will sell their fun car or defer the purchase of the next toy up the ownership ladder. That ownership ladder is actually more like a pyramid and if you start removing buyers or lowering their affordability it destabilises the next level up, those at the next level up find their car is worth less and so have less to trade-in for the next car they aspire to and so it goes on.

Put that together with the blog’s theory around a glut of supply at the top end and I see significant downward pressure on prices in 6-18 months. The apparent resilience at the moment is because the pain hasn’t hit yet; we are infected but we just don’t yet have the symptoms.

Cheib

18,954 posts

131 months

Sunday 5th July
quotequote all
What’s interesting to me is that it’s cars less than say 10 years old that seem to have really caught the demand....maybe that’s because it’s the most accessible and easiest to finance. I’ve been looking at a couple of older/classic cars pretty closely with an eye to purchasing and they are if anything not seeing sales and am seeing prices getting reduced. There have obviously been exceptions to that but that is generally what it feels like to me.

Three months ago people were saying older cars will be fine and the new stuff is where the trouble will be!

Ferruccio

1,228 posts

75 months

Sunday 5th July
quotequote all
Cheib said:
Three months ago people were saying older cars will be fine and the new stuff is where the trouble will be!
Most people are wrong, most of the time.....................??

sparta6

1,980 posts

56 months

Sunday 5th July
quotequote all
Ferruccio said:
Cheib said:
Three months ago people were saying older cars will be fine and the new stuff is where the trouble will be!
Most people are wrong, most of the time.....................??
And therein lays a platter of wonderful opportunities smile

Cheib

18,954 posts

131 months

Sunday 5th July
quotequote all
Ferruccio said:
Cheib said:
Three months ago people were saying older cars will be fine and the new stuff is where the trouble will be!
Most people are wrong, most of the time.....................??
They are indeed