That Sheehan Fellow...

Hey, I appreciate your respect and I typically assume positive intent with most discussions in this online chat world... I figured anyone looking into buying a top-line collectible would be pre-disposed to feeling invincible leaving your job as a dealer to stroke that feeling...

Got ya. I don't know the man and haven't bought or sold anything with him, though I have read everything on his website...

I also think this is the case and you paint an accurate picture. But I still think there is a lot of truth in his observation of the "four diverging markets in the Ferrari world". I just bought a pretty nice 308 and my behavior was exactly the way he described it - I made a deal that preserved my limited cash. That's not to say I won't be buying more Ferraris (I would like to and may), just that I was more careful around how much I was getting into this one for. If the prices were moving up, I would not have been as conscious of the cost...

Maybe it’s me, but I'm just not offended by that language. I may assume too much positive intent!

Great discussion, thank you!

 

Absolutely- but to actually write "To preserve their limited cash" is such an elitist statement that I don't even know where to begin.

I think those of us who own Ferraris and are able to drive them and maintain them are living the dream- and there's no need to constantly be reminded that we are not owners of the "Enzo Era" cars- For many of us performance is part of the Ferrari package and Enzo era cars are of no interest.

But just as antiques experts often discuss only pieces from a certain period- Sheehan could also simply mention that he will not be writing about post 1972 cars...done. It comes off as remarkably disingenuous when you read a piece about what a pile of crap the 348 is, about how a typical service is equal in value to "Half of the cars worth", and then talk to him on the phone as he tries to convince you that the major service on the 355 he is selling "Isn't really that bad". He's a knowledgeable and very nice fellow when you deal with him- no issues. Just speaking form both sides of his mouth gets old.

 

Good points. I also think he is being short sighted when he says things like "The Montezemolo-era cars only go down". That may be true if the world were frozen in time, but if the nascent middle class in China, India, and other parts of the world develop a taste to own these cars demand will only be driven up. Statements like that also fly in the face of Ferrari's Global marketing strategy. Ferrari seek to increase production by pushing into new markets, thus Ferrari is cultivating that taste for their cars Globally.

Sheehan may have a big crystal ball, but that is one bold statement...

 

I have had dealings with Michael Sheehan and they have been very positive. I did research on him proir to my transactions and found out that he has an extensive history in Ferarris for multiple decades. As a race car driver, car owner, shop owner, seller, buyer, restoration specialist, etc. it seems to me Michael has a great amount of experience in Ferraris. I feel that I am a fair judge as I have four decades in vintage race car collecting, restoration and transacting.

 

I don't think anyone here can deny his expertise. Nor do I think that anyone has.

 

Forget China as an after market, you cannot import a used car. I think taxes on a new one are 140% all up, so domestic used market looks somewhat limited. With house prices reporting a 35% drop, IN THE LAST MONTH, in Beijing, one has to wonder

 

Thanks... From what I have read, a "distributor" can import cars into China. Any idea if that means a Chinese company or the original manufacturer? Regardless, the time isn't right at this point, but we can only hope the future holds more promise.

 

I read that statement as truthful. In my household the total budget is down from 2006. And, so far there is not light on the horizon suggesting it gets better soon. So yes, my cash is limited and we are preserving it.

-sc

 

They're still just cars...

 

I thought so too. The information he provided seems to be enough for anyone looking into buying a 12 cylinder Ferrari to make a real choice between all of the "Modern 12s".

 

Every time I see a GTA pop up I think "Gads, Mike is probably just shaking his head."

But....

Truth is, he and his site are good inputs to any buying or selling decision. Not absolutes. Use it to establish a depth of book.

As a Mondi t cab owner, I sort of have a thing for convertible conversions of the 4xx series. Apols to those offended by such butchery, but hey -- I didn't cut the darn top off!

 

At least one skeptical wife of a would-be 400i owner might be doing just that this evening. "Look, dear, here's one with a $49,000 asking price. No way could we lose money on one of these."