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488 Pistas selling for less than MSRP...

Discussion in '458 Italia/488/F8' started by 09Scuderia, Mar 27, 2020.

  1. Coincid

    Coincid Formula 3

    Dec 9, 2014
    1,891
    Canada
    There seems to be panic gripping people here over the value of their exotic cars and the resultant depreciation. For those who already have possession of their cars , enjoy them and once this crisis subsides, values will stabilize and eventually inflate. The stock market will experience a similar development. Car dealers I have spoken to are not dumping exotics nor reducing prices to giveaway levels. They are accustomed to sitting on these cars for months and if consumers are under the impression that discounts of 25% on new in stock Ferraris are attainable, they will be greatly disappointed. Time to catch our breaths and dial down the hysteria.
     
    ScottS, vinny84, Thecadster and 11 others like this.
  2. day355

    day355 Formula Junior

    Jun 25, 2006
    552
    I m thinking from here, the Italian border, that you have no idea of what s happening. Do you really think life will be similar as the recent past ???
    We re speaking about world recession, if you re lucky to stay in good health !!!
     
  3. Gh21631

    Gh21631 F1 Rookie
    Silver Subscribed

    Feb 24, 2011
    4,684
    East
    I believe things will return to "normal" faster than you think. Be positive, do your part and move forward. Also, keep in mind what's happened in Italy is not indicative everywhere.
     
  4. mkraft3003

    mkraft3003 Karting

    Aug 20, 2016
    192
    Tampa, Fl
    Agreed. The world is not coming to an end. Things will return to normal at some time (Not going to venture a guess as to when). The stock market will go up, planes will be full again, car manufacturers will make cars, people will buy cars and things will go back to normal.
     
    vinny84, italiafan, Ash Patel and 2 others like this.
  5. noone1

    noone1 F1 Rookie
    BANNED

    Jan 21, 2008
    4,585
    Los Angeles
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    Mike
    Worth noting that China hasn't returned to normal yet. Many businesses still struggling as consumers don't return and are weary of being around groups etc. Restaurants and cafes still nowhere near normal.

    It could take many months for habits to return to normal. Many consumer businesses are going to fail due to this. Can't even imagine how hard the hospitality business is going to be hurt. We don't even know when countries will allow international travelers again.
     
  6. Gh21631

    Gh21631 F1 Rookie
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    Feb 24, 2011
    4,684
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    Use your head, it wont happen overnight nor was I implying this.
     
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  7. Gh21631

    Gh21631 F1 Rookie
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    Feb 24, 2011
    4,684
    East
    I agree and pretty much what Ive seen. If there is a jacked up spec or something I can see them cutting their losses and moving it. I would also say most people buying $400K cars aren't affected like people buying $40K cars. Not to say wealthier people are careless but rather the purchase wont make a dent in their lifestyle.
     
    boobernackle and MANDALAY like this.
  8. Coincid

    Coincid Formula 3

    Dec 9, 2014
    1,891
    Canada
    Most of Chinese factories are close to full operation. Figures released today indicate that Chinese factory production significantly exceeded expectations. Anyone desperately wanting to sell their Pista or F8 $200K under MSRP, please feel free to contact me for an immediate purchase.
     
    PTG1, Ash Patel, IloveGT and 2 others like this.
  9. noone1

    noone1 F1 Rookie
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    Jan 21, 2008
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    Mike
    Full operation != full capacity. The PMI reported is a MoM number, so naturally they have growth after February saw the entire economy came to a screeching halt.

    China has factories and workers, but those don't mean much if there are no orders.
     
    ScottS likes this.
  10. ipsedixit

    ipsedixit Formula Junior

    There is such a US law in California.

    California Code, Vehicle Code - VEH § 11736

    And specifically Section 11736(c)
     

    Attached Files:

    paulchua, mdrums, Lagunae92 and 3 others like this.
  11. SoCal to az

    SoCal to az F1 Veteran
    Silver Subscribed

    Nov 25, 2012
    7,734
    Arizona
    You are arguing with a poster who hasn’t bought an exotic car in years and has no intention of buying an exotic ever. Infact he hates cars. Doesn’t like driving them and when he does- he prefers to use auto mode instead of paddles.
     
  12. ipsedixit

    ipsedixit Formula Junior

    My bad.

    Social distancing has robbed me of the one single lone IQ point I have in my system.
     
    paulchua, IloveGT, MANDALAY and 3 others like this.
  13. IloveGT

    IloveGT Formula Junior

    Oct 17, 2015
    799
    Pornhub premium is no longer free now. Few days ago it was free after you click to agree you will stay at home. of course, I don't watch porn. ;) Pornhub Premium being no longer free is really the sign for things starting to return normal! Lol.

    I am just kidding! please still stay at home even though there is no free pornhub premium anymore.

    I would actually buy the SA now. Would you guys buy stocks now or another toy at great price?
     
  14. Gh21631

    Gh21631 F1 Rookie
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    Feb 24, 2011
    4,684
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    TDF, SA, CS, Speciale, GTO, 16M, and certain Porsches.
     
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  15. noone1

    noone1 F1 Rookie
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    Jan 21, 2008
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    Interesting. What a strange and seemingly pointless law. I don't see what is unique about cars that you would allow something like this.

    You'd think at the very least they would but a dollar cap on it so that it applied only to the average person and not some guy trying to weasel out of a $500K car.
     
  16. Coincid

    Coincid Formula 3

    Dec 9, 2014
    1,891
    Canada
    Buying stocks is purely a financial decision. Still might be premature to go on a buying spree at this time. Still room to go lower. Another 5% down from here and if you are an investor, the upside will be reaped later this year. A bargain buy, which I am yet to witness, on a true desirable collectable, is more of an emotional purchase which could be financially rewarding when the crisis is over.
     
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  17. gilly6993

    gilly6993 Formula 3

    Aug 20, 2009
    2,023
    Longmeadow, MA
    Full Name:
    Eric
    I believe the S&P will retest its low.....
     
  18. italiafan

    italiafan F1 World Champ

    Jul 19, 2006
    10,045
    USA
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    Stickbones Swagglesmith
    Overall I agree with you, and have been slowly buying...but going to slow my purchases further.
    I wouldn’t be surprised to see DOW 15K, and 18 months to regain 80% of January/20 highs.
     
  19. noone1

    noone1 F1 Rookie
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    Jan 21, 2008
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    Find a price you think you'd be happy to buy at and sell some puts. Then if it doesn't reach it you pocket some premiums. If it does reach it, then you get to buy at the price you were happy with anyway.

    SP500 could easily drop another 20-30%. It's still at 2018 levels. That's barely even anything when you consider how run-up and expensive it was in the first place.
     
  20. Coincid

    Coincid Formula 3

    Dec 9, 2014
    1,891
    Canada
    Seasoned investors are fully aware that timing the stock market is futile. Further declines of 5-10 % make the market an attractive investment vehicle. That does not imply that it may not even drop lower.
     
  21. PTG1

    PTG1 Formula Junior

    Oct 7, 2017
    428
    UK
    Full Name:
    Pete
    So if its not speced just an order even in the UK you must be able to walk away as they cant deliver a non specced car, I suppose if your going to jump out you do it early or take delivery. I'll see how things pan out if it gets really bad ill just take one car not 2. Given the delays and with it the even shorter production run I wonder if some cars will not even be delivered full stop

    Sent from my CLT-L09 using Tapatalk
     
  22. PTG1

    PTG1 Formula Junior

    Oct 7, 2017
    428
    UK
    Full Name:
    Pete
    Im showing waiting list on both cars but I didn't spec the spider so not sure what that means, they can't deliver a car I didn't spec yet

    Sent from my CLT-L09 using Tapatalk
     
  23. PTG1

    PTG1 Formula Junior

    Oct 7, 2017
    428
    UK
    Full Name:
    Pete
    I'm also of this opinion, I'm seeing more as just a gap and then continuing as before rather then a huge dip that we will stay in. Im thinking its just everything is on hold until we can go back out again but, who really knows

    Sent from my CLT-L09 using Tapatalk
     
    Gh21631 likes this.
  24. Shadowfax

    Shadowfax F1 Rookie

    Jun 10, 2016
    2,934
    Australia
    Yeah Id say you'd be able to walk if you didn't spec the car yourself and it was in the dealers system as stock. I guess in that situation where they committed a car they ordered, to you, and they hadn't got the car yet then it would come down to the contract. But I think they would have a tough time holding you to a penalty in that situation. I guess it could come down to market conditions at the time to how easy they let you off the hook.
     
    PTG1 likes this.
  25. Il Co-Pilota

    Il Co-Pilota Formula 3
    Rossa Subscribed

    May 29, 2019
    2,151
    Copenhagen
    Full Name:
    A.B
    Uh, how can you say that there's very few infected in Italy? You're still the most infected country in Europe. Heck just today, you had over 4000 new registered infected along with about 90000 infected, and over 800 deaths. Those 90000 does not even account for those not tested and registered. Looks like you guys are still on the rise, so not sure how you would be able to open in 20 days. I'd be surprised if Italy was able to open by 1st. of June.

    Sent from my SM-G930F using FerrariChat.com mobile app
     
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