Are prices falling? 246 GTS market dropped below $135k

Non-restored car, needs a service and the opening price is 139K with reserve not met. That does not sound like a bargain to me.

 

agreed

 

Heck yeah they are dropping. I'm buying that thing at $60k.

 

i don't think the dino is the only ferrari experiencing the trend. right now, there are so fewer buyers in the market for just about any and everything. supply stays the same, demand significantly reduces and here we are

 

Ironically, I was planning on having both my Dinos reappraised next spring, so that I may raise the agreed-upon valuation on both my insurance policies. If things keep going the way they are right now, I may not have to! Fred

 

Hey Fred,

Both of your cars are super-nice; your long-time ownership & knowledge of the history of each is priceless!
Remember this: Would you be able to replace either car for its agreed-upon? If not, bump it/them up.

Coop

 

great cars

 

Thanks, guys. I just hope that the market stabilizes a bit so that I can get a reasonable value on each car that won't change in thirty days! Fred

 

Could be worse guys. I bought a 575M in July and look what has happened to Maranello prices. Good news is I bought it with proceeds from stock sales and timed that pretty well.

Taz
Terry Phillips, Dino withdrawal still

 

Is this the Mars board? Are prices falling? What planet are you fellows on? Prices are free falling. This Spring your cars should be worth about half of peak values in most cases.

 

Interesting. I just looked at your last 20 posts....I think I might detect a theme.

 

Actually, the "theme" runs through 143 of 145 posts.

 

very interesting: no cars, no profile, and all about econ in exotics going south like a chicken little.

.....is he angry or just exotic-envy

r

 

Just interested in the market and amazed at the denial here. Anyone care to refute anything I predicted? I'm an economist and I believe what I called in this market is on target and continues to be. Meet me back here this time next year, all cars but the most rare vintage will be at least 50% off peak.

for those who seem to want facts, I own 9 cars, most of them inherited with no plans to ever sell any. I could never post truth here under my real name as you can see the anger the facts bring out.

 

Thanks for the heads up fenny. Now go away.

 

The defensiveness on this board is scary and must point to the fact that the Fcar community is not populated by guys who thought they were investments. Read the super car board where cars are trading hands for 50% off already. I can go away but the bursting of the bubble won't unfortunately trash.

 

He must have shorted Dinos

 

I don't think there's much denial, but there is a reluctance to follow rampant speculation by non-experts. Besides, I doubt if many of us could care less what our cars are worth -- they have been bought to drive, not to be cash cows. Should they make money along the way, that's only a side benefit. Most of us aren't landing on the street should our Dino's value halve tomorrow.

 

fenzoman -

No one is questioning whether values, real, perceived or otherwise are or will be in decline, free fall, call it what you wish.

Therefore;

WE KNOW

Since that is the case, there is no need to obsess over the subject with every successive post.

It gets old.

We're all sure you, like the rest of us mere choir members, have a wealth of knowledge outside of the value of clams, salt, and getting from Point A to Point B, Art on Wheels or no.

As has been the case since the dawn of man, *something* has value to someone. Sometimes that value goes up, sometimes it goes down, but the more "one" one member of any given tribe beats stick against stone about *something*, the more likely sticks and stones get used in other fashions.

In this day and age of electronic sticks and stones, all anybody kindly asks of you is to change the tune.

 

Wax, thanks so much for breaking it down into terms best related to by my 4 year old grandson who enjoyed your post. The cars will his his one day!

Here's a hint though, if you don't want to read falling price predictions refrain from clicking on threads with the work price in the title.

in the good old days Fcar owners were enthusiasts who couldn't wait for down cycles to add to their collections.

 

How would you know?

 

Ah, you have two apples.

The most precious is your Grandson, for you and yours to behold.

The apple for many an enthusiast to fixate upon however, is the old days, redux. That's worth discussing, as most everyone loves a bargain.

From that standpoint, and the given of downward trends, how about lending your expertise by speaking of the old days, so history can help those who help themselves?

I'm biding my time. Biiiiiiiiiiiiiiiiiiiding my tiiiiiiiime.

 

fenzoman- I do not think there are too many speculators posting in the 206/246 section. This is actually the most car-loving Ferrari bunch I have seen. Most have no intention of selling their cars, so the market price is of passing interest, but nothing over which to lose sleep. You might be better off dealing with the gold chain set, most of whom do not care enough to even post in this forum. Falling prices are just a good opportunity to buy, like you said. Enough gloom and doom coming on the news every day, no need to add to it.

Too bad you cannot tell us about your cars. Would have been nice to see.

Taz
Terry Phillips, Former Dino Owner and Dino Lover

 

Taz, then why the anger and defensiveness? I was originally shocked to see it here but now know it's just par for the course. Indeed I expected like minded enthusiasts who would also look forward to the speed at which all of the speculators would leave the market. Read these boards closely, the majority seem to very much want the price bubble not to have burst.

Now that we can all see the investor crowd in our rear view mirrors I though it might get better, but doesn't see to have when you consider someone actually added this thread today!