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Ferrari prices

Discussion in 'Ferrari Discussion (not model specific)' started by ferrari#7, Mar 12, 2020.

  1. sixcarbs

    sixcarbs F1 Veteran
    Rossa Subscribed

    Dec 19, 2004
    6,889
    SF
    There is a thread just for you. Starton the first page, or the last.

    https://www.ferrarichat.com/forum/threads/testarossa-price-trends.306731/
     
    SavagePower likes this.
  2. Kitchdog

    Kitchdog Karting

    Jan 10, 2019
    147
    Full Name:
    Ryan
    Recently was weighing up whether to invest in the stock market or to finally buy a Ferrari.

    Glad I did the sensible thing and bought a Giallo Modena F360 Spider F1 rather than being rash and buying stocks :D
     
  3. Doctor Mark

    Doctor Mark Formula Junior

    Dec 15, 2005
    522
    Georgia
    Full Name:
    Mark Gronsbell
    Prices were already soft before the meltdown. Suspect they will fall significantly. In a short term correction, sellers can hold on but I suspect this will last a good while with people in need of cash flow for expenses or investment. Prices, I feel will drop a good bit from here.
     
    pearsonhaus likes this.
  4. LightGuy

    LightGuy Three Time F1 World Champ
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    Oct 4, 2004
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    David
    #29 LightGuy, Mar 17, 2020
    Last edited: Mar 17, 2020
    Its a domino effect...
    My land for sale contract probably isnt going to go through.....
    My business will probably drop off...
    My toy purchases will too.

    Im just lucky its toys and future retirement funds being affected not being able to pay the rent or mortgage or medical.

    Almost everyone is going to feel the pain some sooner some later.

    Thats why its called a recession.

    But man I know of a great deal on a 512M.
    Something i couldnt consider a month or two ago.
     
  5. LARRYH

    LARRYH F1 Veteran
    Rossa Subscribed Owner

    Jun 3, 2011
    6,564
    virginia usa
    It sounds like this is a car you want and is a car you feel is in great shape (sounds like it is )
    If you are comfortable with the price and the car I would buy it...One of the things about buying an old car is when you find a great one you have to move on it ..you could try to get the price a little less other wise go for it
     
    SavagePower likes this.
  6. AlfistaPortoghese

    AlfistaPortoghese Moderator
    Moderator

    Mar 18, 2014
    3,584
    Europe, but not by much.
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    Nuno
    Glad you did, Ryan. Great story! Namely in this day and age.

    And as I always say on a slightly different note, but you get the picture: you can sleep in your car, but you can’t race your house :D

    Kind regards,

    Nuno.
     
    sammysaber and Kitchdog like this.
  7. ferrari#7

    ferrari#7 Formula Junior

    Sep 8, 2008
    298
    If the price of Ferrari's go down as much as my portfolio and the S&P, unbelievable??
     
  8. SavagePower

    SavagePower Rookie

    Jul 10, 2019
    40
    UK
  9. SavagePower

    SavagePower Rookie

    Jul 10, 2019
    40
    UK
    Thanks for the advice and words of encouragement.
     
  10. SavagePower

    SavagePower Rookie

    Jul 10, 2019
    40
    UK
    Thanks for the advice. About a month ago we agreed verbally on the phone to £90k so I’m jr sure if I can negotiate now, can I? No deposit was needed. Then this CV all hit so it left me wondering am I paying too much for a good car.
     
  11. Eric360

    Eric360 Formula 3
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    Jan 11, 2010
    1,282
    San Francisco, CA
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    Eric
    Prices must go down.... good time to be a buyer, not a seller.
     
  12. AlfistaPortoghese

    AlfistaPortoghese Moderator
    Moderator

    Mar 18, 2014
    3,584
    Europe, but not by much.
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    Nuno
    This new crisis is going to be different from the subprime crash back in 2008, although we may experience similar market behaviors at times.

    If stocks and commodities tank, I bet we’ll see a rise in classic Ferraris (from the 1990s and before) and collectible cars in general, and depreciation in modern ones (post 2000-2008).

    Kind regards,

    Nuno.
     
    Texas Forever likes this.
  13. Texas Forever

    Texas Forever Four Time F1 World Champ
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    Texas!
  14. BMW.SauberF1Team

    BMW.SauberF1Team F1 World Champ

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  15. Texas Forever

    Texas Forever Four Time F1 World Champ
    Rossa Subscribed

    Apr 28, 2003
    42,361
    Texas!
    Okay, didn’t see that!


    Sent from my iPhone using FerrariChat
     
  16. Texas Forever

    Texas Forever Four Time F1 World Champ
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    Apr 28, 2003
    42,361
    Texas!
    Damn though. I wish I fit in a F355. I had a M5 once that had water damage. Run like a top.
     
  17. BMW.SauberF1Team

    BMW.SauberF1Team F1 World Champ

    Dec 4, 2004
    12,608
    Well if Shaq can fit in the one he had you most certainly can lol.
     
  18. PhilNotHill

    PhilNotHill Two Time F1 World Champ
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    Jul 3, 2006
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    FelipeNotMassa
    It is a buyer’s market.
     
  19. ferrari#7

    ferrari#7 Formula Junior

    Sep 8, 2008
    298
    And the bill didn't pass the senate, WOW. Things are getting uglier.
     
  20. LVP488

    LVP488 F1 Rookie

    Jan 21, 2017
    3,091
    France
    My guess is that everything will be down (and it already is, to some extent - just looking at asked prices for Daytona's is telling) but the very most expensive and rare will resist better percentage-wise (because the market is so small it could continue to exist out of the real world).
    For collectible cars, many prices have been up on the speculative belief that growth and increases could be unlimited, but a global recession (which is likely to happen, with economies frozen for a while all around the world) will lead to reconsider this belief.
    For more common cars, the global wealth decrease will impact demand as people re-assess their priorities.
     
    AlfistaPortoghese likes this.
  21. EastMemphis

    EastMemphis Formula Junior
    Silver Subscribed Owner

    May 25, 2019
    505
    Memphis, TN
    Full Name:
    John
    I am sure that there will be bargains available in the coming months. Some people get over extended and will have to sell at a large loss. I doubt this will be the rule as most Ferrari owners appear to be relatively solvent financially speaking. I'd like to pick up a second F car for a bargain price if possible.
     
  22. LVP488

    LVP488 F1 Rookie

    Jan 21, 2017
    3,091
    France
    One thing that really amazed me was when I was told that 80% (?) of the purchases of new Ferrari were using financing from Ferrari - that means, not only no cash payment for such a discretionary expense, but also actually throwing additional money out of the window, considering how high are the rates applied by Ferrari financing.
    I still cannot really figure out why it is the case, but if people actually buy Ferraris while they do not yet have the money, it may be very bad for them - and the Ferrari market - in the coming months.
     
    gabf1, EastMemphis and ChipG like this.
  23. BMW.SauberF1Team

    BMW.SauberF1Team F1 World Champ

    Dec 4, 2004
    12,608
    Even if the rates were "high" some could use the cash elsewhere for better returns. At least up to last month. Not anymore though and cash is king right now.
     
    EastMemphis likes this.
  24. BMW.SauberF1Team

    BMW.SauberF1Team F1 World Champ

    Dec 4, 2004
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    anunakki and Thecadster like this.
  25. Mmckee

    Mmckee Formula 3
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    Sep 30, 2016
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    Mike
    Wow! What a car!
     
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