Should I let a dealer sell my FF on consignment?

The usual consignment fee is about 10%, negotiable a bit on higher priced cars.

 

14% here.. on consignment you will need to aggressively price the car if you want it to move as the dealer might want to sell their inventory first

 

I have had Ferrari dealers in the Mid Atlantic region quote 6 percent and 8 percent commissions for taking a 575 Superamerica on consignment. A Lambo dealer wanted 7 percent. Perhaps the commission rate may vary based on the dealer's perspective on how much effort it will take to move a particular car?

 

Most Dealers only do consignments. 10%+ is normal. Are you interested in buying anything else? I'd trade it in and not deal with the consignment

 

Catching a falling knife with depreciation on such a new car - is why dealer won't take the risk. Suggest get out clean even if trade down.

 

If they already have enough FFs and won't buy yours, then how motivated would they be to sell your FF over the (too many) they already have?

If your FF has some unique and desirable combination of colour and options you might stand a better chance but as a businessman, I suspect your dealer will want to move their FFs first - idle inventory is actually negative cash flow. It's not idle cash.

 

Agreed. Maybe try F-Chat/ Ferrari Market Letter/ eBay?

 

I think trading in is the best way out of this situation.
Good luck

 

I was speaking to a west coast Ferrari dealer recently who said when they take a car on consignment the rate is 9%.

Interestingly, he said they hardly take a consignment car and own virtually all their preowned inventory.

I visited a Ferrari dealer in Florida a couple times recently, and their sales manager told me 90% of their preowned are consignment cars.

 

Dealer by dealer.

Ferrari Beverly Hills has at least 40% consign right now. Ferrari Westlake has a few as well.

 

Why are you selling so soon?
Got something else in mind or just gone off the car?

Cheers,Bob

 

The usual 10% is based on sale price, regardless of what it is.
40% must be of the profit over reserve set by owner I think.

 

I meant the number of cars on consign.

 

Why not try the basic channels first since the car is in storage anyway? You will pay a minimal fee to ebay or autotrader and simply just filter through the responses. Depending on what you get, you can then decide what makes more sense for you.

 

My local dealers charge 7% for consignment. That allows for netting more for your car as wholesale is way below than 7% of retail. I've sold multiple cars that way - can work nicely for all parties.

The key with selling via consignment, IMO, is setting a realistic asking price. Remember the dealer's only incentive is his relatively modest fee so too high an asking price and the car just sits as it continues to depreciate.

Too high a consignment fee makes no sense either - may as well get rid of the car wholesale in that case.

Good luck!