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is the bubble due to burst?

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

  1. G. Pepper

    G. Pepper F1 World Champ
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    Mar 15, 2012
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    George Pepper
    How about $32 per ounce? :)
     
  2. BMW.SauberF1Team

    BMW.SauberF1Team F1 World Champ

    Dec 4, 2004
    12,446
    Resetting it to worthless will be good how? If the goal is to devalue everyone's money and screw up the global economy (both domestic and international holders) then yes that's a way to succeed. The results won't be pretty. There's also nothing special about gold...it's just an arbitrary physical item selected for that. It could be rhodium for all it matters.
     
  3. cheesey2

    cheesey2 Rookie

    May 16, 2018
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    Ivars Blumenau
    considering current values of currency without a tangible backing or tying currency to volatile asset like petroleum is proving to be not the best choice. the US has reset its currency every 20-30 years with little notice. Hugh debt needs viable scale to reconcile monetary systems. Why use a dropper when multiple high capacity pumps are needed to reduce the debt. Gold is not the exclusive store of value, but a reasonable constant in conjunction with anything that might be a store 0f value
     
  4. BMW.SauberF1Team

    BMW.SauberF1Team F1 World Champ

    Dec 4, 2004
    12,446
    It's not going to happen, but if you wanted to price government's holdings of gold to the US dollars floating around it would have to be over $50,000 per ounce. M2 money stock alone is over $14 trillion and the US govt has under 300 million ounces of gold.

    https://www.fiscal.treasury.gov/reports-statements/gold-report/current.html
    https://fred.stlouisfed.org/series/M2
     
  5. 375+

    375+ F1 Veteran
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    Do I hear $35?
     
  6. The Red Baron

    The Red Baron Formula Junior

    Jan 3, 2005
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    Warren
    Found it hard to believe when gold went from $30/oz to whatever it was. Find it extra hard to believe its value should be $10000 /oz
     
  7. amenasce

    amenasce Two Time F1 World Champ
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  8. Marcel Massini

    Marcel Massini F1 World Champ
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    gsm348 and BMW.SauberF1Team like this.
  9. BMW.SauberF1Team

    BMW.SauberF1Team F1 World Champ

    Dec 4, 2004
    12,446
    And all unfortunately seem to have less than 1,000 miles. Sad...it looks so much fun to drive.
     
  10. Smiles

    Smiles Moderator
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    Nov 20, 2003
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    Matt F
    If I were holding one in inventory I’d be getting nervous!

    Matt
     
    LARRYH likes this.
  11. Marcel Massini

    Marcel Massini F1 World Champ
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    Mar 2, 2005
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    Everybody wants a virgin.

    Marcel Massini
     
  12. turbo-joe

    turbo-joe F1 Veteran
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    romano schwabel
    if the speedometer is as easy to disconnect as on the 288 GTO then I don´t wonder about those miles
     
  13. malcolmjl

    malcolmjl Karting

    Mar 27, 2014
    128
    los angeles
    The LaF market has always confused me. There's no way a market exists for 700 ish new cars worth $3 million+. The F12 TdF is the same way. I suppose that's what happens when a car is released at the height of the market. Plenty of speculators. Should comfortably settle in the $2 million to $2.5 million range.
     
    Alexander GTB and gt4me like this.
  14. 09Scuderia

    09Scuderia Formula 3

    Nov 20, 2011
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    Tim&Julie
    selling for lower than their low estimates....that probably means the reset is just getting started. Interesting times.
     
    Texas Forever likes this.
  15. malcolmjl

    malcolmjl Karting

    Mar 27, 2014
    128
    los angeles
    I think we're most of the way there for 80% of the market but Ferrari's and air cooled Porsche's likely have another year or two to go. They wont crash or anything but a slow decline is likely. It seems like a healthy correction overall.
     
  16. 375+

    375+ F1 Veteran
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    Correction or general market decline? Time will tell.
     
  17. technom3

    technom3 F1 Rookie
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    Prices aren't really down in my opinion (we are all allowed to have an opinion right???)

    That LaFerrari did 3,080,000. Thats just shy of 3.4 million... FOR YELLOW. That is a considerable sum of money. I would put that in the well sold category. If I could get a buyer for 3.3 million I could sell probably 2 or 3 laFerraris today.

    The TDF did no sell. So that means that the seller wouldn't sell it for for that. The top bid was 875 plus the fee so about 950k. A little light, but again the car did not sell. So we can determine that you can not buy a TDF for 875 from that buyer. Probably not even 900. The owner will not take it.

    The lusso... Well... with the fee the car did exactly it estimated for. fuel injected Lussos are not a good indicator of anything in my opinion. It is an unvalued car. It is a phenominal car... probably one of the best cars ferrari makes... but the market doesn't care.
     
    19633500GT likes this.
  18. technom3

    technom3 F1 Rookie
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    Estimates were high. Estimates have been high for sometime. Its a game
     
  19. technom3

    technom3 F1 Rookie
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    No.

    Howard Hughes used his OWN money.
     
  20. The Strad

    The Strad Formula 3
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    Jul 26, 2010
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    Anybody following RM Sotheby's auction @ Essen?
     
  21. The Strad

    The Strad Formula 3
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    What has this world come to if a monster Porsche 928, aborted by Koenig, fetches far more than a 328 GTS ? (the latter sold for 52.000 € hammer price)
     
    Ferrari 308 GTB likes this.
  22. PVEferrari

    PVEferrari Formula Junior

    However, virginity is overrated! :)
     
  23. Ferrari 308 GTB

    Ferrari 308 GTB F1 Veteran

    Feb 21, 2015
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  24. Foncool

    Foncool Formula Junior

    Oct 27, 2011
    299
    Reminds me of the old Dennis Miller line about the 72 Virgins in Paradise. After 5 or 6 you’re going to want a Pro!
     
    PVEferrari likes this.
  25. PVEferrari

    PVEferrari Formula Junior

    Exactly... ;-)
     

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