is the bubble due to burst? | Page 129 | FerrariChat

is the bubble due to burst?

Discussion in 'Vintage Ferrari Market' started by PFSEX, Jan 18, 2013.

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  1. sixcarbs

    sixcarbs F1 Veteran
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    Beautiful Daytona Spider for sale at Algar that was just purchased back in February at RM Paris auction. Depending on what the euro was then the current owner/seller may be taking a loss. There is also another thread here about some recent purchases now for sale. (I think the 250 GT California Spider 1503 GT) 1503 GT just sold at the RM factory auction a few months ago.

    Is it a sign of the market slowing down when people buy stuff at auction and in less than a year want out?

    In my trading days we would joke about the Greater Fool Theory. Buy something today with no regard for price because a greater fool will buy it for more tomorrow. Maybe these cars are not flipping like they used to??
     
  2. Smiles

    Smiles F1 World Champ
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  3. Bowzer

    Bowzer Formula Junior

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    IS THIS STILL THE BUYERS BIBLE , 11 YEARS ON ???
     
  4. energy88

    energy88 Two Time F1 World Champ
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    Maybe this Zero Hedge article will bring the "Bubble Thread" back from the dead. I've also posted the article in Silver in the Zero Hedge thread about their investment ideas:

    Here is a ZH chicken-little sky is falling car-related article to put a caboose on this thread that seems to confirm most of the above comments. I'm also going to post it in the notorious "Bubble Thread" in the vintage section, where I'm sure it will get a lot of comments as it is based almost entirely on Hagerty data and not the emerging auction season:

    https://www.zerohedge.com/news/2018-01-18/recovery-vintage-car-prices-crash-more-20089
     
  5. sperry

    sperry Karting

    Aug 6, 2013
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    It should go without saying at this point that years on from the start of this discussion, there was no bubble and it hasn't burst. A slow decline in prices is basically the anti-definition of a bubble bursting.
     
  6. ttforcefed

    ttforcefed F1 World Champ
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    this is on the same day an f40 sold at auction for 1.5+M. mmmhh

    and during the financial crisis stuff was down over 50% easy.
     
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  7. Bradwilliams

    Bradwilliams F1 Veteran
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    True story and I agree but there was a bubble on the higher production cars (especially 80s). And the prices didn't just decline slowly, they tanked and tanked quickly. They landed higher than before but it was still a big pull back. Everything else rare experienced only a minor decline. Still plenty of fun cars out there for reasonable and fair prices. Markets rise and markets fall and more than likely the market will go down again before experiencing another surge like what was seen in the end of 2013. Buy something because you like it and feel comfortable paying for it. Do not get suckered into the "get it now while it's cheap before the train leaves" mentality.

    The only thing I still find disturbing is the majority of the 80s and early 90s cars for sale (which was the snake-oil of the last surge) is still overwhelmingly and almost exlusively being held by brokers and dealers.
     
  8. tbakowsky

    tbakowsky F1 World Champ
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    The 550 took a huge hit. There are a few out there now under 100k higher mileage but still quite the car. Customer of mine sold his at the hight of the craze. He paid 80k cnd for it, and sold it for 220k usd. He did very well. I wonder how the current owner feels about his purchase now?
     
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  9. henryr

    henryr Two Time F1 World Champ
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    but they were on their way to $1M......
     
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  10. tbakowsky

    tbakowsky F1 World Champ
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    Everything in ferrari land is on its way to a million supposedly..
     
  11. TheMayor

    TheMayor Nine Time F1 World Champ
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    Today at BJ there was a gorgeous 599 with special metallic red paint and it went for $185K

    I don't think all Ferrari's are on their way up. $185K plus another 60K will get you a new Portofino.
     
  12. ttforcefed

    ttforcefed F1 World Champ
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    Didn't a 6 speed 599 go for 500k today?

    Sent from my BBB100-3 using Tapatalk
     
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  13. Smiles

    Smiles F1 World Champ
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    Time hasn’t ended yet...

    ;)

    Matt
     
  14. Gh21631

    Gh21631 F1 Veteran
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    That was a 2007 and if you add in auction fees closer to 195k which is very high for an 07 599.
     
  15. Bradwilliams

    Bradwilliams F1 Veteran
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    I know right? What happened?! :eek: Hehehe.

    BTW I found that car to be a huge let down. Loose steering with little to no feel. Rear end of the car squats up and down like a kid playing musical chairs in preschool. And you have to rip apart the entire exhaust in order to hear anything. I had a capristo exhaust and centerpipe on mine and still couldn't hear a thing. Had to put test pipes in it. If I wanted a car that Drove, felt, and sounded like a CL Mercedes, I would have bought a CL Mercedes. The only redeeming qualities I found in it were the styling (it is probably the prettiest Ferrari of the past 25 years) the feel of the shifter, and the speed (It was a freight train). But the problem was as fast as that car is, it didn't FEEL fast. I'll be sure to buy another one when I'm 85 or 90 years old and only have a few years of driving left in me.
     
  16. 19633500GT

    19633500GT F1 World Champ
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  17. Mrpbody44

    Mrpbody44 F1 Veteran

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  18. TheMayor

    TheMayor Nine Time F1 World Champ
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    I think (and I could be wrong here) that the Monterey Auctions are really geared to the International (Ferrari) crowds and the Scottsdale to more now towards domestic. There was no buzz this year about European cars. Monterey may be sucking all the oxygen out of the room.
     
  19. sixcarbs

    sixcarbs F1 Veteran
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    My definition of the bubble bursting;

    250 California Spyders under $1 million
    250 GTO's under $10 million
    Daytona coupes under $200,000
    275 GTB/4's under $500,000

    Don't ask where the modern V-8's would be.
     
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  20. paulchua

    paulchua Cat Herder
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    #3221 paulchua, Jan 26, 2018
    Last edited: Jan 26, 2018
    Zerohedge is like getting your news from "Addicting Info" or "Info Wars." Permabears (and Permabulls) given an infinite time horizon - will be eventually right...too bad they do such a lousy job on what matters - calling exactly when to pull in or pull out. Can you imagine being able to buy options with no expiration date or price premium to reflect that deal?

    Bradwilliams and his pal: Super_dave (self-described 'expert in bubbles' that told everybody here to get out of not only all cars, but stocks, and housing back in 2015) - Brad agreed, and has been preaching inflated prices since 2013...

    Bradwilliams, do I really need to pull out the numerous (20+) links to the posts you've been posting for years (like the one where you made fun of the guy that bought a TR pre run-up)? It was 50K wasn't it for a low milage TR? You said he was drunk?

    I seriously don't understand how you can show your face around here given numerous people witnessed exactly what I'm talking about.



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  21. Terra

    Terra F1 Rookie
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  22. henryr

    henryr Two Time F1 World Champ
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  23. henryr

    henryr Two Time F1 World Champ
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    my daily autotrader alerts...... something go pop ? ;)
     
  24. Caeruleus11

    Caeruleus11 F1 World Champ
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    Absent some elaboration on miles, history and condition, that doesn't prove anything.
     

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