That Sheehan Fellow...

Same on 330 2+2, both series. He ignored them until they topped $100K

 

Him again. He fails to mention the "clumsy Chrysler K car styling, cheapie Fiat dashboard switchgear" in his advert.

 

The car doesn't seem to have rear seat belts. The black/gold-painted crease down the centre of the car ruins the look to my eyes.

Aidan

 

He would be the "Renown Broker" referenced in this article:

http://www.ferrarichat.com/velostrada/issues/200505/Analysis%20Paralysis.pdf

 

Ah Michael Sheehan...

What can you say. He is clearly one of the most successful Ferrari brokers out there- and LOVEs sniffing the butts of multi millionaires who will NEVER drive their cars.

His opinions wouldn't be so distasteful if he did not constantly condescend... my favorite line of his was in the Septmeber issue of Sports Car Market- Referring to modern cars like the 348 and 355 he states "These cars go to players with fewer assets who are also focused on preserving their limited cash." Well sure I think 348 and 355 owners has "fewer assets" than Ralph Lauren, but you DON'T buy a Ferrari to preserve your "Limited cash".

I don't know Sheehan's fniancial situation- but I'd be willing to bet most 355 owners have more "assets" than he does.

 

He sells used cars. Expensive used cars but used cars nonetheless. Not that that is bad but it is that, nothing more and nothing less.

There is an inverse relationship between condescension and class.

 

Great material.
An overlooked tactic to not buying a Ferrari(or anything else)is the lowball offer but even that sometimes backfires.

 

That's where the PPI comes in for the save!

 

Some factoids about 50807 that aren't mentioned in the Sheehan ad: It sold for $46,200 including buyer's premium at the Gooding auction in August of 2007, it has a radio but no external stick antenna, the black side stripe is ugly, ugly front marker lights, aftermarket shift knob, wood rimmed Nardi look steering wheel, apparently electric seats and you can see extra switches on the console, some sort of aftermarket ignition coil (?) on left front side of engine compartment, yellow driving/fog lights, no mention of miles or services done in last 4 years, engine compartment fairly dirty, old looking TRX tires, car may actually be in Minnesota if you want to see it.

 

I am happy for him. He has learnt a craft and makes a living from it. He's not B.E. the second, but he's a used car salesman.

Some videos to watch, laugh, and appreciate TS does his job his way. There's eBay and the internet and 100s of other brokers you can buy cars and stereos from. (and am sure at least one person that clicks on these will have a Ferrari jacket and a beard)

[ame]http://www.youtube.com/watch?v=19CvEO3Riy0[/ame]

[ame]http://www.youtube.com/watch?v=A6DRZlytJpQ[/ame]

 

Perhaps some frustrated "experts" here?

What's the saying ? Those than can do, those that can't teach..

I can remember him being a generous contributor on Internet forums once, as we're a number of others that no longer bother sharing their extensive and unique views because of dullard threads like this.

 

This is hardly a thread that contains toxic criticism and is very tame compared to some of the accusations leveled against him in the vintage thread from time to time.

All it is doing is pointing out the contradictory opinions of a car salesman depending on whether he is a buyer or seller. I doubt that he is so thin skinned that he is offended by this or that this is anything that he hasn't heard many times before from multiple sources since that goes with the territory.

 

I think listening to him is a bit like watching Fast Money on CNBC in the states. What is hot and has value can change from week to week depending on outlook, etc. From that point of view a cars value or collectability can change drastically over several years. Today the 400 series has a lower value. If in 10 years they go to six figures he will be correct to say they have collector value. He didn't necessarily change, the market did. But I also have heard that he becomes the saleman for whatever he currently has in stock. Never knew a car salesman to tell a client he is about to sell them a worthless car.

 

that post right there is full of wisdom ...

and i ain't just blown' wind up somebody's skirt.

 

I don’t have any skin in this game, but I just read this article and I am left with a bit of a different impression.

The last part of the article was called "Following the Ferrari money" where Sheehan was contrasting the current nature of sales at the very high end of the market with the nature of sales happening at the middle and low end. His point is that the "deep-pocket players" with a lot of "very discretionary income" are bidding those high-end cars into the stratosphere (to values they have never been at before), whereas the “players with fewer assets” at the low end of the market are not paying higher prices, thus his words, “preserving their limited cash”.

So I don’t think Sheehan set out to be condescending to the low end buyer, I think, aside from trying to be clever with his words, he simply means that in these market conditions buyers at the lower end of the market are not currently out bidding one another as their counterparts at the middle and top are.

I would gladly take $32K for my 308 today, but the next guy is giving his away for $28K, so down it goes…

http://ferraris-online.com/pages/article.php?reqart=SCM_201111_SS

Cheers

 

FChat does make for a sharp market!

 

Sheehan was on Chasing Classic Cars today... I recalled his name from this thread.

 

Respectfully, I don't think that unless you have been around the cars for thirty or so years in a number of different capacities on a world scale, owning, restoring, selling, buying finding and running a Ferrari workshop as well as researching and writing about them how can this can possibly be the case?

Not to mention the contacts he would have...

Perhaps you have - I do not know.

No amount of surfing this site will provide the same knowledge..

I don't think anyone can make accurate predictions in the Ferrari market with any level of certainty at all.

It is too fragmented, driven by too many emotional factors and evolving ever more.

The only market figures you will ever get here are historical and quite frequently they are riddled with vagaries so as to be almost useless for the casual observer even if exchange rates are taken into account.

How is it possible without thoroughly inspecting two similar cars on either side of a continent to compare like for like?

Which figures reported are net of taxes commissions freight and a multitude of other often not mentioned costs?

If some of you think trawling and chatting here can somehow put you on a level playing field with those who have the experience as outlined above well and good I say in all sincerity.

I can't definitively say if MS is self serving or not - it's likely he is and who isnt?

That doesn't negate the significant voluntary contributions of knowledge that he has made over his career to many people he has never met or earned a dime off.

 

Well then I have a question.
So far everytime I sold my specialty/classic/collector car the price has started to rise shortly after that. Does that make me an expert or should I put my 412 up for sale?

So if you want the value of your 4xx go up. Talk me into selling mine.
I am pretty sure it will go up soon afterwards.

Sorry guys. Sheehan makes money selling Ferrari's and he knows what he is doing.
If he can sell a few 4xx a year and make a profit he will do it, for all we know he may
hate 275's but as long as they bring a premium he will sell them.

Don' t we all do a job and try to make the best of it.
I spoke to him twice and I think he is ok as a salesman.

 

Respectfully- OF COURSE he's trying to be disrespectful and condescending- that's the whole point of selling any top-line collectible- to impart to it's purchaser a feeling of invincibility- I've sold more than a few pre- CBS Strats and assured the buyer that he would now be viewed as a REAL collector since he had one of the "Holy Grail" pieces.

Collecting is all about superiority- Guys like Sheehan do it beautifully and very successfully- It just sucks cause there ARE guys in the trade who sell MUCH more expensive cars and don't behave in that fashion.

Guys who own 308s and 355s are NOT collectors- I own 4 Ferraris- i do not collect them- I drive them and enjoy them and I plan to use them UP.

We are enthusiasts- BIG DIFFERENCE- to constantly condescend whilst comparing apples to oranges is foolish yet he has been taking this tack for a decade or more. A successful businessman with a Testarossa is not a billionaire collector - yet to constantly reinforce the fact that the those who are not billionaires are somehow timid or weak or scared is mindless jibberish.

 

I thought his article in the latest Forza was excellent. Thoughtful and pragmatic for both how to maintain value and how to multiple it when ready to transact.

Seems like a lot of knowledge tempered by experience. Valuable data point I'd say.

FWIW. IMHO. TEHO, etc etc