Consignment vs trade in

I was just at my local Ferrari Dealer and noticed some very nice used cars on consignment. I was told by the Sales Manager that the used market is very strong right now because the factory was closed for the Covid-19 pandemic and then was converted to making respirators. So all the new cars are delayed and people already were waiting about a year out. My experience with Ferrari is they don't negotiate, so consignment percentage they take will be what it is. But also I find the local dealer is always moving consignment vehicles and they don't sit more then a few months (like in the 2-4 range).

My Advice, is to go through the dealer, a larger one if possible. Buyers go there first to look around. When I was selling my Maserati GranTurismo I had a horrible time with all the yahoos calling me up and making stupid offers "I have cash now on me, give it to me for X and I'll take it off your hands today." or some young kid who wanted a test drive. If I ever sell my Portofino I'll go straight to the Dealer. Good luck!

 

I’ve consigned 2 cars in the past. Both experiences were terrible. They called me a lot to lower the price per buyer request. I honestly felt that they were just trying to get more. What sucks is you really don’t know what they sold it for... they never showed me the bill is sale.

 

I'm curious, did you consign with a Ferrari Dealer? I cannot speak from personal experience but I have friends who have, and the car was listed on the Dealers website and inside the showroom. The price was known (they don't really negotiate at Ferrari) and it was a straight percentage. What you are describing does not sound like a Ferrari Dealership experience and if it was I'd notify Ferrari of America.

 

It wasn't a Ferrari Dealer... both cars were Porsches and I consigned them at a specialty dealer. Their fee was 10% OR a minimum of $4500. I got the invoice of the 10% charge but they never shared the final bill of sale with the new owner. In addition, I was never informed car sold... I was just notified by a friend in a forum who posted the pic of my car driving and was asking who was driving it... so it sold almost 3 weeks already and I called them and only was paid after. Left a sour taste in my mouth which is why I stopped consigning. Please let me know how the Ferrari consignment with a dealer ends up, that would be a great way to sell if experience is honest... thanks

 

My friend consigned his 458, 2010,6k
Miles. He had bought a 720s. They got him 160 after their cut of 8%. Sold in 3/4 weeks. Mclaren Palo Alto


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