NADA 'Wholesale' value

Why do you need a wholesale price?
Are you a wholeseller?
Do you have a dealer license?

See what most people appear to misunderstand is, that if you buy wholesale you buy without inspection, without coming back to the dealer and ask for this and that. This is why some dealers will only wholesell a car and not deal with retail customers and the headack that comes with it.

If you are a dealer you will have the resources to get the wholesale number on this car. Otherwise look at the retail price you have there.

 

Maybe he want to buy a car for the best price with out the headache that goes with coming back to the dealer to ask for this or that and do his own inspection!

 

Right on the money, Martin. There aren't that many of us who are real wholesalers.

Dale

 

If this is what he wants to do he can call around to the dealers and ask them to call when they get a wholesale car in.
He MAY find one that is willing to sell to him wholesale. keep in mind wholesale buyers usually buy sight unseen and know they may have to do some work on the car and adjust their price accordingly and sometimes get surprises.They understand this.

The problem with selling a car wholesale to a private party is, if they get "surprised" they will STILL come back on the dealer and "ask for this and that"
Thats why many dealers won't do it.

 

that is kind of a weeny answer, martin. that's not like you. did someone beat you up over price really bad today? who cares if this guy knows what the "wholesale" price is. what is the big secret. i don't know him, but i guess in his mind he is attempting to determine the floor. he still has to determine whether a particular car is worth what he can negotiate. regardless of what price guide says, he will only pay so much and the seller will only take so little. seems to me the goal should be to buy at what the dealer would give you for that particular car as a trade. just don't expect it to happen. you have to make a living too and deserve markup commensurate with your effort and the value you add to transaction.
btw, are you a lousy typist or just a bad speller?

 

Not all ferrari's are purchased through a dealer and some of us would like to get the best deal we can on a depreciable asset. It always amazes me when some dealers don't want to talk to a buyer about wholesale prices but will quickly bring up paying back of wholesale when it is a seller at the door. What's the big deal? Not to be frank and open just adds to the unpleasant aspects of purchasing a car.

akydakyx - "btw, are you a lousy typist or just a bad speller?" The answer is both!

 

****son, wholesale on an 87 testarossa is about 47k - or at least thats what I was told they would likely give me if I wanted to wholesale the car I just bought, in one year.

I think 55k$ is about rock bottom for a pre 88.5 car with a recent major, in great shape. 60k$ is about bottom for a post 88.5 car, in good (though not perfect shape)...I looked a lot to come to these conclusions...

I would have happily bought from a non dealer and saved 3-5k$, but found that almost all of the really nice cars were dealer owned. The cars that were privately for sale weren't as nice...with exotics, private party asking prices are often THE SAME as dealer asking prices.

When I was looking for my boxster s 1 year ago, the dealers were selling for LESS than the private party asking prices. I tried to point this out to private sellers, and they argued that NADA said their car was worth such-and-such. Well, I bought from a dealer...

I have found that the NADA values mean squat - those are frequently auction prices, and don't reflect service records/books/tools/etc. Cars always seem to sell in the higher half of NADA retail - at least the nicer ones.

Trade in , on the other hand, NEVER matched nada/edmunds trade in value. It usually significantly lower, and dealers usually use auction prices...

Thats why I always try to sell the cars on my own -but the more expensive the car, the more diffcult to find a buyer on your own. If anyone has ever gotten NADA trade in value on a car - I would LOVE to hear about it!

Example. Just traded in my boxster s, 2000, 36k miles, sil/blk.
Tried to sell for 33k$ (3k$ below NADA retail), then 30k$, then 29k$, traded in for 24k$.
NADA/Edmunds trade in value was 29k$, retail 36k$.

Great, except I know dealers are selling these cars at 30k$ RETAIL here.

NADA seems way off most of the time.

 

THAT's the actual wholesale number, IIRC, what they'll offer trading in......

Taxes not considered.........

 

The whole what is wholesale what is retail on an older Ferrari is a very vague thing to determine as not all cars are the same. It is not like with a late model Mercedes, BMW, etc. that is still under warranty with which the difference is very easy to determine. I have seen customers buy Ferraris from eBay, etc. at what you would think were "wholesale" numbers only to have to spend $10,000 on service and other items to get the car even close to decent.

I have had other dealers pay my retail price (which they consider to be wholesale to them) and then mark it up from there and still turn a profit. The bottom line is no two used Ferraris are the same and the values can very greatly. When I buy a used Testarossa at "wholesale" put the car through service and fix any cosmetics you are then into the car more than you could wholesale it for. The best you can do is to retail it at a fair price and move on. By the way the profit margin on these cars is very small, usually in the 5 - 8 percent range if you did not find too many surprises when servicing the car. Which is why the majority of the Ferraris for sale are due for servicing because by the time a dealer buys one, services it, etc. it there is not much left over for profit and you own the car until you find a buyer as you are now into the car more than "wholesale". This is why many Ferrari dealers will only sell late model cars.

Here is an example: I have in stock a '90 Testarossa - Red with tan interior, 18,000 miles, overall a very nice car. It came with receipts showing a belt service was done in the last two years. Bought the car for $58,000, shipped it to Utah from California $800.00. Paid my buyer who looked at the car $1,000. Put the car into the service dept. and found that who ever did the service did a poor job as there were several oil leaks. Bottom line redid the major service as well as some other items like water pump, rear main seal, etc. etc. Also found a hairline crack in the windshield and replaced it. I am now into the car $68,000 not including advertising, flooring, etc.

So, if you want that car at wholesale, good luck. Whomever buys my ’90 Testarossa will get a very clean, serviced and ready to go Ferrari, but will pay a bit more for it. The bottom line is a very straight, well cared for, and serviced Ferrari will always bring a fair “retail” price.

Sorry to bore you all with this lengthy reply.

To answer the question, the values you posted are right out of the N.A.D.A. Appraisal Guide I have, so the $55,900 would be “wholesale” but as someone posted N.A.D.A. values don’t mean much and are just a reference.

 

The best way to figure out what wholesale really is........is to take $1MM or so....and go into business buying and selling Ferrari's...if you have any money left in a year....you'll have your answer.

;-)

Dealers will run certain cars at auction which "book wrong" so that you can sometimes sell them to the guys like the OP who think the book is gospel..... I have seen guys bid what is really a retail $$ number with the book in one hand, while the other hand is in the air.......merely because the book says that $$ should be wholesale.

Whenever I get someone who says that they want to buy a car at wholesale book value the answer is really simple.......I tell them to call up the publisher of the relevant book (in our case the "Black Book") and ask where their car lot is so they can go over there immediately and pick the car of their choosing.......heh.

 

Vincenzo,

Do you know about the Gold Book? It specializes in appraising rare and exotic cars.

http://www.manheimgold.com/

About the wholesaling stuff...

My experience is that people in the Ferrari business are cheap ba$tards when it comes to appraising or paying for Ferraris wholesale; but when it becomes time for them to put the car up for sale, they ask up to $20,000 more than the wholesale price that they offered or paid. I'm talking especially about 355s and 348s, although I know the same is true with 456s and 550s, etcetera.

Martin I don't know you so don't take that as directed at you! I actually do know you a little bit because I've read many of your posts (but not all 5 million of them ).

I always try to get a feel for what the wholesale prices in the marketplace are so that I know what fair retails price should be. Ferrari sellers control the market and thus want to keep everything a secret, but that should not stop the consumer from trying to inform himself.

 

Hmmmm...for a specialist resource, it is a little outdated, and I would be afraid to rely on it:

One example:

1963 FERRARI 250 GTE Dsp/HP Eng Fair Good Exc Show Loan
COUPE 2+2 (954 mfd) 1960-63 3.0/240 V12 28,000 42,000 53,000 60,000 H 38,000
The 330 America is actually shown as being cheaper, topping out at $55K.


Ask our friend Wayne what he paid for his GTE...

 

Are those cars the only ones you looked at?

The pricing report for cars like 348s, F355s, 456s, and TRs is right-on. The values seem to be wholesale numbers, but I can't be sure. Wholesalers don't want you to know that they get cars that cheap.

The wholesale numbers for cars that I've been paying attention to--like 348s and F355s--are right-on. For example, dealers are still asking well over $80,000 and even over $90,00 for F355 Berlinettas, whose values have been falling like rocks. Ask someone at a dealer how much he'll give you for a sub-20K miles F355 Berlinetta--YUP! In the high-50s, 60s, or 70s at the most.

Outdated? The information was updated December 2004.

 

Those whole sale numbers seem high...either that, or a lot of testarossa's are selling at wholesale right now...

It says an excellent early testarossa is worth 55k, show quality 60k...WHOLESALE. Those seem to be the retail prices right now - or at least on the cars I looked at...55-60k$ seemed like top of the market for a RETAIL price, on a nice car...

Price is always whatever the market will bare...

 

As I said, the site doesn't really say whether the indicated prices are wholesale or retail. For some cars, the numbers look like wholesale; for others, they look like retail.

Whatever the numbers, the Goldbook offers a good ballpark estimate.

 

I am a dealer and here is wholesale. As you can see price varies widely on condition. As Martin said, its easy to get burnt in this Ferrari game so buy from a reputable dealer. Wholesale doesn't mean that is what a dealer paid. I have paid way over wholesale for the right car, so don't put so much faith in books, they are just guides, not the reality of the market.


R E C A P
Make: FERRARI
Model: TESTAROSSA
Style: COUPE
Year: 1990
Prices High: $75,500
Low: $54,500
Average: $59,817