Ferraris expensive in NZ - why?
Discussion
I have, as yet vague, notions of bringing a Ferrari F430 with me from England when I return to NZ. In the UK used F430s typically sell for £70-£90k. In NZ used F430s apparently command NZ$250-300k, i.e. close to double the price in the UK! It occurs to me then ... perhaps there is something I don't understand about Ferraris in NZ. Does anyone know of a good reason for such a price discrepancy?
Not saying its a bad plan at all as clearly the exchange rate is in your favour and there is a price difference, but a few things to keep in mind:
- Advertised price does not necessarily equal selling price.
- There is a small market for premium cars like these and they can take a long time to shift.
- UK imports may be discounted due to risk of salt damage (whether there actually is or not).
- There's various taxes and resale restrictions that could apply, depending on what you're importing and how long you've owned it. There have been numerous threads on this in the past on this forum.
Where are you both planning to live?
- Advertised price does not necessarily equal selling price.
- There is a small market for premium cars like these and they can take a long time to shift.
- UK imports may be discounted due to risk of salt damage (whether there actually is or not).
- There's various taxes and resale restrictions that could apply, depending on what you're importing and how long you've owned it. There have been numerous threads on this in the past on this forum.
Where are you both planning to live?
All prestige cars follow that format over here. Porsches particularly.
As has been said, there's an extremely limited market so things like Ferraris might take a while to shift. Also note that the official dealers over here have a BIG lockdown on servicing and support and you may find trouble gettin your car officially serviced unless you import it through them (and hence keep their price-fixing alive).
If it were me and I was looking to turn a profit, I'd do it with a Porsche. Good profit to be made and a reasonable market over here... a Ferrari could sit for years.
As has been said, there's an extremely limited market so things like Ferraris might take a while to shift. Also note that the official dealers over here have a BIG lockdown on servicing and support and you may find trouble gettin your car officially serviced unless you import it through them (and hence keep their price-fixing alive).
If it were me and I was looking to turn a profit, I'd do it with a Porsche. Good profit to be made and a reasonable market over here... a Ferrari could sit for years.
Omerta said:
Where are you both planning to live?
Somewhere north of Auckland, possibly Coatesville area.Just to be clear, I'm not doing this to try and make a profit. There are no plans to sell any of the cars even after reaching the criteria of two years of ownership once in NZ. My way of thinking has been that due to the prohibitively high purchase prices of cars like these in NZ that it makes sense to buy now in the UK as there is absolutely no way I would pay the excessive, somewhat obscene, prices in NZ. The other upside of course is that should I have to sell then at least there is every likelihood that losses will be minimal/non existent particularly if the exchange rates are anything like what they are today.
The New Zealand attitude is that every car that comes from the UK has terminal rust - and you have to prove otherwise.
Every imported car is stripped (ie ALL the interior comes out) - and all spots of rust have to be removed. It's nothing about safety, ANY rust or potential rust is evil.
Not forgetting that all brake components have to be as new and original - and a number of original seatbelts will have to be replaced.
Time to be rocked to sleep by earthquakes........
Every imported car is stripped (ie ALL the interior comes out) - and all spots of rust have to be removed. It's nothing about safety, ANY rust or potential rust is evil.
Not forgetting that all brake components have to be as new and original - and a number of original seatbelts will have to be replaced.
Time to be rocked to sleep by earthquakes........
Kinda (ish) on topic, but if anyone has contact information for South Island event co-ordinators in the Ferrari and Porsche Clubs on NZ can you please message them to me. 
Their respective websites no longer seem to have contact information any more. I was in contact with a Ferrari Club event co-ordinator back in 2006/2007, but he may not be doing that anymore (Peter someone?).
Their respective websites no longer seem to have contact information any more. I was in contact with a Ferrari Club event co-ordinator back in 2006/2007, but he may not be doing that anymore (Peter someone?).
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