Will Corona effect the Supercar Market
Discussion
I know the talk has been about a softening Market over the last year or so......and I was sitting here waiting to see what happened later on......i fancied another Ferrari.
how much of a hit will prices take with this.....
and on another note, how many people can remember the Corona Lorry coming round one a week....lemonade, Cheeryaide ….and money back on the glass bottles.....
nostalgia eh
how much of a hit will prices take with this.....
and on another note, how many people can remember the Corona Lorry coming round one a week....lemonade, Cheeryaide ….and money back on the glass bottles.....
nostalgia eh
rival38 said:
All asset prices are taking a severe kicking. Cars will not be different, there will effectively be no substantial bid in the market for luxury toys of any sort. Things are escalating very scarily fast with this virus, and it may be some considerable time before we come out the ther side. What the world looks like politicaly and economicaly once we do is any bodys guess at this point.
looking at the way CV is going...….I wonder if the question should be how low can they go...….
RDMcG said:
Agree completely.
Right now I am assuming that we are in for a major recession and unknown progress of this virus. Where I live in Canada, ( we are a couple of weeks behind the curve), there is a very noticeable slowdown, services being cut, panic buying, the lot...same as everywhere else. How it will be when the spread accelerates is anybody's guess.
amazingly I was talking to a Friend in spain who thought the 2 weeks in isolation would do...…..I laughed.....this is going to cause huge problems...…..Right now I am assuming that we are in for a major recession and unknown progress of this virus. Where I live in Canada, ( we are a couple of weeks behind the curve), there is a very noticeable slowdown, services being cut, panic buying, the lot...same as everywhere else. How it will be when the spread accelerates is anybody's guess.
...distressed sellers of a manual 430...….message me lol....or a 458...….
ignoring the car market.....you cannot shut up shop and close for months on end without causing a serious recession - big issue....this isn't the banks (yet) its all about customers not buying ANYTHING other than food....
I wonder what would happen if china spikes again...….in other areas …..
Larry5.2 said:
Don't agree fully there. Contagious certainly, but not lethal to most people.
80% of people will have mild symptoms when they get Covid19, and some will be asymptomatic - that means for most people it, it will be like flu or less severe. Unfortunately it has the potential to kill some of the other 20%. Some of whom would have died in the annual 'normal' flu round which kills half a million people a year.
The government's strategy should be to protect/shield the vulnerable and let the rest carry on working. It makes no sense to bring the economy to its knees. I don't see lockdown being lifted until there is a cure or a means of doing instantaneous testing.
So, with current strategy on Corona Virus, the supercar market is flattened...
don't disagree...…,....I think you need a test to prove you've had it....THEN you can go out and be pretty sure you are ok...80% of people will have mild symptoms when they get Covid19, and some will be asymptomatic - that means for most people it, it will be like flu or less severe. Unfortunately it has the potential to kill some of the other 20%. Some of whom would have died in the annual 'normal' flu round which kills half a million people a year.
The government's strategy should be to protect/shield the vulnerable and let the rest carry on working. It makes no sense to bring the economy to its knees. I don't see lockdown being lifted until there is a cure or a means of doing instantaneous testing.
So, with current strategy on Corona Virus, the supercar market is flattened...
either way the market is going to take a bath. I think the name of the game is wealth preservation......and buying another Ferrari might not on the list..
never liked finance.....bad enough losing money when you change cars as it is. God , can you imagine if those GFVs are not set in stone at the end of the lease..
I'm not sure either , driving around in a flash would be a great idea when there so much trouble out there.
Values got a long way to go, I wonder were a 246 will end up ? missed them before they went silly.
I'm not sure either , driving around in a flash would be a great idea when there so much trouble out there.
Values got a long way to go, I wonder were a 246 will end up ? missed them before they went silly.
Andyoz said:
I wonder if some lads that previously had second car 'toys' in the £60k+ range will be now more active in the sub £30 range. Lots of good buys to be had there in future. It's just easier to justify a car of value in the garage as the weekend toy if we are into a drawn out recession.
probably...…….that's if they can afford a toy at all.the market got so frothy it was silly, ….don't really want to see a crash, but a 30% drop has me buying one again.....bored with my 718 which I bought as a stop gap 3 years ago.
70k for a 458....a good one,....yes I can see it....
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.....
but my money is on a huge increase in this as soon as this is over as people head for the exit.....
ghost83 said:
He’s not wrong,
And Chris Harris has also said whatever car is for sale knock a 3rd off the price are we rly going to see a gt3 or a 650s or a 570s having 30-35k knocked off it in the next 3-6 months and put them in the 60k bracket?
I don’t see special edition cars like pistas and LTs dropping but if I had a 720s which have already lost a fortune on finance I’d be rather worried at a potential 50k drop in value
I'm quite looking forward to 458s at 70k...….430s at 56k.....and 360s......well I can remember where they were in 08.And Chris Harris has also said whatever car is for sale knock a 3rd off the price are we rly going to see a gt3 or a 650s or a 570s having 30-35k knocked off it in the next 3-6 months and put them in the 60k bracket?
I don’t see special edition cars like pistas and LTs dropping but if I had a 720s which have already lost a fortune on finance I’d be rather worried at a potential 50k drop in value
gosh , brings it all back...I can remember walking away from a 430 at 55k...didn't like it......ended up buying a lovely red manual 430 for not a lot....one I wish I had kept.
650spider said:
To be fair if a 650 spider falls to £40k in the next 3-6-12 mths, that would mean the aforementioned Ferrari 360s and Gallardos would have a price starting with a 2 or even a 1....so you could have your pic of the bunch.
But as i said before, a lot of people say they will buy one if it goes to 'x' price, but then never do.
I bought a 430 manual last time ….and will either buy another manual 430....or a 458But as i said before, a lot of people say they will buy one if it goes to 'x' price, but then never do.
Edited by markst on Thursday 9th April 20:39
carspath said:
Interesting that so much is being spoken about the purchase price , but so little is spoken of the running costs .
Is this because PH'ers are keen enthusiasts who want to briefly taste all the delicious morsels that the Supercar World can offer , and so will only be hanging on to any given car for a year or two before moving on to yet another delectable ?
For long-term owners ,the running costs are surely as important as the purchase price ?
Fair point .... but always been careful when I’ve bought a Ferrari .....and I buy it knowing they cost a lot to run .....its part of the cost of ownership .....Is this because PH'ers are keen enthusiasts who want to briefly taste all the delicious morsels that the Supercar World can offer , and so will only be hanging on to any given car for a year or two before moving on to yet another delectable ?
For long-term owners ,the running costs are surely as important as the purchase price ?
can you imagine actually owning the stock outright....or worse having it on finance as some dealers do......your garage is shut, you cannot even send them to auction / trade them to get out quickly and raise cash, and you know your stock is going to plummet in value as soon as you reopen....
got to feel sorry for them …….SOR its all down to the owner, and lets hope they get their money if it ever sells...
got to feel sorry for them …….SOR its all down to the owner, and lets hope they get their money if it ever sells...
[quote=cayman-black]
As for Bramleys, it's a beautiful almost antique showroom with some proper beautiful cars and as others have said been trading for years.
quote]
gosh....i'm old enough to remember when Bramley's was Started by Derek Cook...………..I was working for Romans of Woking at the time...…
Great place , for sure they have only the best, certainly not cheap but you get what you pay for.
As for Bramleys, it's a beautiful almost antique showroom with some proper beautiful cars and as others have said been trading for years.
quote]
gosh....i'm old enough to remember when Bramley's was Started by Derek Cook...………..I was working for Romans of Woking at the time...…
Great place , for sure they have only the best, certainly not cheap but you get what you pay for.
Ferruccio said:
A bit like AML, existing equity must be close to worthless, as it’ll all get diluted away in whatever debt/equity swap manifests itself as the next step on the journey.
personally I was amazed anyone bought AML.....its always been a disaster financially.Here we are , in the eye of the storm and the worst recession for 300 years just about to start, and the Government already wincing at the cost.
I wonder how low will they go ? I'm certainly a buyer of a 458 or a 430 (for the 3rd time) if they get cheap enough.
So said:
davek_964 said:
I intended to put my 360 up for sale as soon as it was serviced in March, but didn't bother due to lockdown.
However, I know of a McLaren that sold in the last week or so and a few other posts make me think that maybe cars are selling after all. Seems I really should make the effort to put an advert together.
I'd do it now. I don't think it will last.However, I know of a McLaren that sold in the last week or so and a few other posts make me think that maybe cars are selling after all. Seems I really should make the effort to put an advert together.
...I want another Ferrari , but i'm sitting it out until October …..they wont be going up and the risk is all to the downside.
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