Will Ferraris suddenly get cheaper or easier to buy?

[xcentric]

Given the major hit that the economy is about to take, do people think this likely to have a knock-on onto Ferrari prices? Will people be keen to sell? Or is this market somewhat insulated from the current crisis? And I am not wanting disaster to befall anyone - but I do wonder if dealers will have to keep cashflow going even it it means losses short term - and so might have to move stock at relatively cheap prices with negative margins.....

[Drclarke]

Oh for goodness sake

Another price bore thread

[DSLiverpool]

xcentric said:

Given the major hit that the economy is about to take, do people think this likely to have a knock-on onto Ferrari prices? Will people be keen to sell? Or is this market somewhat insulated from the current crisis? And I am not wanting disaster to befall anyone - but I do wonder if dealers will have to keep cashflow going even it it means losses short term - and so might have to move stock at relatively cheap prices with negative margins.....

In 2008 this happened to a degree, anything not perfect was sold cheaper than usual. I bought a DB9 Volante in makers warranty but on 39k miles for a very low price from an indie - just keep looking.

[davek_964]

Drclarke said:

Oh for goodness sake

Another price bore thread

Quite. Ferraris are already easy to buy - as long as you're not waiting for them to drop huge amounts of money. Which sadly seems to be a common theme on the supercar area.

My Ferrari will be for sale soon - but I don't need to sell it and if the bottom falls out of the market I will simply keep it. Which I suspect is not a unique view among Ferrari owners.

[andrew]

maybe you could trawl the upmarket obituary columns ?

[Chrism355]

xcentric said:

Given the major hit that the economy is about to take, do people think this likely to have a knock-on onto Ferrari prices? Will people be keen to sell? Or is this market somewhat insulated from the current crisis? And I am not wanting disaster to befall anyone - but I do wonder if dealers will have to keep cashflow going even it it means losses short term - and so might have to move stock at relatively cheap prices with negative margins.....

Not Ferrari, but I do know my local Porsche dealer is swallowing the loss to move the metal as they only see prices falling further in the near future

[xcentric]

my, some people are touchy.....

I know it's British reserve not to talk about money - but for some of us, money isn't in as abundant supply as for others, though we might still like nice cars. I was simply wondering if those who have been into supercars for a while know what happened in earlier crises to Ferraris and had stories to share. For e.g. the banking crisis made property in Spain suddenly exceptionally cheap, whereas in France it had little effect.

Certainly if you don't want to chat about money, then don't - no-one is making you reply.

[Drclarke]

It’s not being touchy, it’s yet ANOTHER thread about values during the Zombie Coronavirus era

Can’t you just read the numerous ones that have already been started?

[supersport]

I bought mine to drive not worry about it’s value.

Other than because you want one, when are you going to buy? You could endlessly chase rising/falling prices.
You could end up never buying and how crap would that be?

[FezSpider]

Drclarke said:

It’s not being touchy, it’s yet ANOTHER thread about values during the Zombie Coronavirus era

Can’t you just read the numerous ones that have already been started?

Another constantly regurgitated and irritating subject as well as this one is....."is a ferrari with 12k miles to high?"

[Cheib]

xcentric said:

my, some people are touchy.....

I know it's British reserve not to talk about money - but for some of us, money isn't in as abundant supply as for others, though we might still like nice cars. I was simply wondering if those who have been into supercars for a while know what happened in earlier crises to Ferraris and had stories to share. For e.g. the banking crisis made property in Spain suddenly exceptionally cheap, whereas in France it had little effect.

Certainly if you don't want to chat about money, then don't - no-one is making you reply.

There were some very cheap cars around in 2008....difference is this time that there are an awful lot more cars around and the market has already been soft for a couple of years,,,and a quick scroll through here will tell you people have been able to buy 488’s, Lusso’s and 812’s at big discounts to list. You obviously do need people to want to sell but I think they will happen even to Ferrari owners .....there will be plenty of businesses having an extremely bleak year. Lots of people will lose jobs etc.

Think the newer more generic cars you will be able to get some bargains...older cars much less likely.

As the poster above said about Porsche...I was in my OPC yesterday getting some work done to my Cayenne. Sales guy said that phone calls and enquiries have literally just stopped....anecdotally they have probably a dozen customer parking spaces...normally a couple free. Yesterday. 8 were free.

[rat rod]

Drclarke said:

Oh for goodness sake

Another price bore thread

I WAS JUST THINKING THE SAME Drclarke , as soon as there is another bump in the road and i must admit this is quite a big one comes along there seems to be yet another doom and gloom thread trying to talk the market down, lets not kid ourselves what with brexit, general election followed by usual Christmas blues and just as we are coming into spring we got this corona virus to knock us all back , the luxury car market has been quiet but has not come to a stop, whether a Ferrari or any other super car if it's the right colour,low mileage with full service history and priced realistically it will sell even on Christmas eve, below average cars advertised cheap will always appear to bring down the prices but there's always a reason for it,you get what you pay for as a rule unless you get very lucky and catch someone in financial difficulties who needs out quickly but most people who know they have a proper item will hang on in there and are usually in a position that they would rather keep it than sell it much below there price,

Edited by rat rod on Sunday 15th March 01:44

[blueg33]

These threads are odd.

If people knew the answer for certain then there would be lots of millionaire supercar traders on here.

Prices of the Ferrari’s I am looking at have drifted down over the last few months, but to predict anything is crystal ball gazing.

[ghuk]

To answer the OP's question, delays in getting a new car from the factory is surely now inevitable. Hopefully its only just a few weeks as per the link..........

https://www.skysports.com/f1/news/12433/11957797/f...

Edited by ghuk on Sunday 15th March 10:59

[MingtheMerciless]

Mine won't. If I end up with it as my last car because of the Virageddon, that's OK.

[Allandwf]

I'm keeping mine, even if it ends up looking like an extra from a Mad Max movie

[Speculatore]

ghuk said:

To answer the OP's question, delays in getting a new car from the factory is surely now inevitable. Hopefully its only just a few weeks as per the link..........

https://www.skysports.com/f1/news/12433/11957797/f...

Edited by ghuk on Sunday 15th March 10:59

Surely if a product is not made anymore it becomes more desirable and therefore more expensive

[willy wombat]

Mine will probably get more valuable because a European tour planned for June this year probably won’t happen so that particular car will have several thousand less miles on the clock than would have been the case. I’d rather be doing the tour however.

[SVJBalboni]

Remember new orders will plummet due to the factory closing and I suspect most dealers won't be accepting new orders until the factory is back up and there's an ETA for existing deliveries. This might cause the used car market to spike but again this will be dependant on the overall market after things return back to normal.

[av185]

SVJBalboni said:

Remember new orders will plummet due to the factory closing and I suspect most dealers won't be accepting new orders until the factory is back up and there's an ETA for existing deliveries. This might cause the used car market to spike but again this will be dependant on the overall market after things return back to normal.

This is correct if the supply is restricted this will support residuals as has happened with more mainstream cars over the past few months causing 3 year old residuals to increase by up to 10% due to falling new car registrations.

With higher end stuff as ever the more mainstream models whether they be Ferraris Porsche or Lamborghini will take more of a hit than the limited run models which are constantly in demand recession or not.