Lag Time for Supercar Prices to adjust to Market Conditions

Lag Time for Supercar Prices to adjust to Market Conditions

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Discussion

ghost83

4,477 posts

154 months

Monday 13th April 2020
quotequote all
21ATS said:
That car is LHD which will have some bearing on it's final price.
There are 2 lhd cars on ph classifieds one at 58 one at 59k

So basically an 8-10k difference atm



Edited by ghost83 on Monday 13th April 08:26

Pat H

7,684 posts

220 months

Monday 13th April 2020
quotequote all
21ATS said:
ghost83 said:
Ferrari 328gts sold for 50k on collecting cars which is 20k cheaper than the cheapest 328 on autotrader (they range from 69-139k
That car is LHD which will have some bearing on it's final price.
In 2006 I bought a 328 for £38k.

Adjusted for inflation that’s £54k today.

It was RHD, had done one thousand five hundred miles and was absolutely as new.

328s are going to come down an awful lot more before they’re done, and that’s assuming they only drop to pre-bubble prices.

Rari

84 posts

159 months

Monday 13th April 2020
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I thought that 328 looked expensive by about £10k. It was hardly immaculate and that’s what you can see from the photos. Also been over to States and back again. I doubt the ultimate buyer even viewed the car so it would be interesting to see what they think when they actually collect.

Pretty car though and a very useable classic.

21ATS

301 posts

36 months

Monday 13th April 2020
quotequote all
ghost83 said:
There are 2 lhd cars on ph classifieds one at 58 one at 59k

So basically an 8-10k difference atm



Edited by ghost83 on Monday 13th April 08:26
Still looks strong to me.

Pat H

7,684 posts

220 months

Monday 13th April 2020
quotequote all
Rari said:
Pretty car though and a very useable classic.
They are lovely old things, and very easy to live with. None of the complexity of a 355 and none of the rot of a 308.

Routine servicing is a doddle, too.

Replacing the timing belts is easier than changing the cam belt on a Ford Focus, and the parts are barely any more expensive.

But it is easy to buy a dog. I looked at a few rough ones that had very obviously been clocked before finding one worth buying.

I wish I still had it.

sparta6

2,513 posts

64 months

Monday 13th April 2020
quotequote all
Rari said:
I thought that 328 looked expensive by about £10k. It was hardly immaculate and that’s what you can see from the photos. Also been over to States and back again. I doubt the ultimate buyer even viewed the car so it would be interesting to see what they think when they actually collect.

Pretty car though and a very useable classic.
So its LHD and a bit rough.
Buyer may be intending to use it as a DD which makes sense as they are fit for it.
Nikasil liners were also a good move.





Rari

84 posts

159 months

Monday 13th April 2020
quotequote all

But it is easy to buy a dog. I looked at a few rough ones that had very obviously been clocked before finding one worth buying.


Exactly!

I’m confident some well priced cars will be coming up within next few months via dealers (with warranty) so why not wait. This car has certainly made me think about a 328 GTS (RHD) though having had two 308 GTBs and a 328 GTB.

Have to hand it to collecting cars though they seem to be doing well in this tough market. It would be interesting to know if any buyers withdraw from the deal after inspecting the car or change their mind with some auction fever. How concrete are they online auctions to the vendor?

Edited by Rari on Monday 13th April 12:01

Ferruccio

1,503 posts

83 months

Monday 13th April 2020
quotequote all
Rari said:
It would be interesting to know if any buyers withdraw from the deal after inspecting the car or change their mind with some auction fever. How concrete are they online auctions to the vendor?
It’s a binding contract.
And presumably, like all auction houses, they’ll taken sufficient financial details off you before you bid to make it hurt if you renege. They need all that for AML anyway.

footsoldier

1,903 posts

156 months

Monday 13th April 2020
quotequote all
Rari said:
But it is easy to buy a dog. I looked at a few rough ones that had very obviously been clocked before finding one worth buying.


Exactly!

That’s why it’s surprising the price this car achieved. I’m confident some well priced cars will be coming up within next few months via dealers (with warranty) so why not wait. This car has certainly made me think about a 328 GTS (RHD) though.

Have to hand it to collecting cars though they seem to be doing well in this tough market. It would be interesting to know if any buyers withdraw from the deal after inspecting the car or change their mind with some auction fever. How concrete are they online auctions to the vendor?
They take 6% fee from buyer’s credit card when auction closes.

21ATS

301 posts

36 months

Monday 13th April 2020
quotequote all
I'm not really seeing any bargains so far. I think that's due to the restricted market.

Collecting Cars has partially filled the vacuum that has been created by the lockdown and lack of ability for people to browse, buy and collect. Sure some are doing business remotely but it must be a tiny percentage of what it was.

So right now there's probably a larger pool of buyers (looking for a bargain) than places to buy cars.

This is unlikely to change until we're back to some sort of normality when supply will probably start to heavily outstrip demand. I can't see any substantial re pricing until then, bar the odd new/newish car that's been bought on finance and has a distressed seller.

ghost83

4,477 posts

154 months

Monday 13th April 2020
quotequote all
I think collecting cars is aimed at a certain type of ppl as it’s quite specialist and specific, but it does show a shift in prices after only 3 week I reckon we have another 6 weeks of this which I think by that point we will start to see changes,

I’d love to see a mclaren 12c at 40k or a 650s at 50k
The amusing thing is I nearly put a deposit down on a new RS3 just after selling my last car in January and that was 55k so I’m glad I didn’t bother as who knows what will be available in the next 6-8 months

Bo_apex

1,349 posts

182 months

Monday 13th April 2020
quotequote all
ghost83 said:
The amusing thing is I nearly put a deposit down on a new RS3 just after selling my last car in January and that was 55k so I’m glad I didn’t bother as who knows what will be available in the next 6-8 months
A brand new Audi ?

You must be a proper fan of depreciation

jakesmith

9,032 posts

135 months

Monday 13th April 2020
quotequote all
Bo_apex said:
ghost83 said:
The amusing thing is I nearly put a deposit down on a new RS3 just after selling my last car in January and that was 55k so I’m glad I didn’t bother as who knows what will be available in the next 6-8 months
A brand new Audi ?

You must be a proper fan of depreciation
Someone has to buy new cars

Lee Jones Jnr

967 posts

134 months

Monday 13th April 2020
quotequote all
jakesmith said:
Bo_apex said:
ghost83 said:
The amusing thing is I nearly put a deposit down on a new RS3 just after selling my last car in January and that was 55k so I’m glad I didn’t bother as who knows what will be available in the next 6-8 months
A brand new Audi ?

You must be a proper fan of depreciation
Someone has to buy new cars
I’d imagine choosing between a new Audi A3 and a used McLaren 650s is rare though

ghost83

4,477 posts

154 months

Monday 13th April 2020
quotequote all
Lee Jones Jnr said:
I’d imagine choosing between a new Audi A3 and a used McLaren 650s is rare though
Well I’m glad I never did!
And I hope a 650s comes into range- if not a 570 should

Lee Jones Jnr

967 posts

134 months

Tuesday 14th April 2020
quotequote all
ghost83 said:
Lee Jones Jnr said:
I’d imagine choosing between a new Audi A3 and a used McLaren 650s is rare though
Well I’m glad I never did!
And I hope a 650s comes into range- if not a 570 should
I don’t think either car will get to £55 this year

Ferruccio

1,503 posts

83 months

Tuesday 14th April 2020
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And I expect we’ll hear something from the FCA on car financing this week.

GroundZero

813 posts

18 months

Tuesday 14th April 2020
quotequote all
OP
Most of the talk on the web is about car prices currently being in limbo due to the market stalling via lockdown.
The 'lag' for new car price adjustments, and the follow on effects to the 2nd hand market is likely to be in a few month's time when lockdowns start to come to an end.

It will be then that people start to get back to work, many of them now on a reduced salary, IF indeed they have a job to go back to.

No matter how you look at it, people are not going to be looking at the market in the same light as they did pre-virus.



davek_964

7,413 posts

139 months

Tuesday 14th April 2020
quotequote all
ghost83 said:
I’d love to see a mclaren 12c at 40k or a 650s at 50k
I think that's fairly unlikely - but who knows.

sparta6 said:
MisterBigglesworth said:
TBH the Russian roulette of death by virus made me realise how unpredictable life can be, and it’s too short to worry about a retirement you might not live to see.

As soon as we’re out of lockdown i’m buying an F12 regardless of where the market is or if it loses money. I might not be alive to worry about it’s value next year so YOLO.
That's the correct outlook !

Chinese virus does not discriminate
I bought my 650 in August - and although I part ex'd, it still needed a big balance paid in cash. Regardless of whether it's now worth 50p, there is the additional complication of general financial meltdown.

I've given a lot of thought over the last week or two about whether I regret it, given that the world has changed significantly since I bought the car. And the answer is.........

Nope.

I already had the view that - without being entirely financially reckless - you really do only live once and you don't know what tomorrow will bring. If anything, the current situation has proved that point x 1,000,000.

Whatever the future brings - I get to enjoy a proper supercar, and I love it. It was already a car that would lose value - if it really does drop to ~£50k by the end of the year, that's even less reason to consider selling it!

I did want to sell my 360, but unfortunately the virus got here before the service. If prices really do crash, I'll simply keep it - it's a damn good car, and there are worse things in life!