March of the Maranello...
Discussion
First Maranello of the season goes to auction in the UK on the 10th March at Coys. It's a LHD 550 that they list as right hand drive but the photographic evidence on their own website would appear to indicate otherwise! http://goo.gl/tiM9nj
No idea where UK prices for LHD Euroland-sourced cars are heading but the Pound would appear to have gained 13% against the Euro in the past year (1.37 vs 1.21) so with a £50k warchest today, you can look at EUR68k cars. Same time last year your £50k would have raised just EUR60k (or looking at it the other way, a EUR68k car would have cost you £56k last year).
A word to the wise: prospective currency movements can have quite an impact on the market and will simply serve to speed up, reduce or reverse the flow of LHD cars into and out of the UK and this should be factored into any 'investment' decision as boring as that sounds. In the medium term, my long held view is that given a stable exchange rate environment, we should see the value of RHD and LHD cars converging to within 10% of each other as 10% represents a reasonable penalty/premium for running a WHD (Wrong-Hand-Drive) car in any location - but the practical reality is that exchange rates are rarely stable over the medium term so you will invariably find yourself un-hedged with the chance that you might win or lose.
P.S. Interestingly I see 20x 550s vs. 12x 575Ms listed on PH today which goes against the perceived wisdom that the heat is with the 550?
No idea where UK prices for LHD Euroland-sourced cars are heading but the Pound would appear to have gained 13% against the Euro in the past year (1.37 vs 1.21) so with a £50k warchest today, you can look at EUR68k cars. Same time last year your £50k would have raised just EUR60k (or looking at it the other way, a EUR68k car would have cost you £56k last year).
A word to the wise: prospective currency movements can have quite an impact on the market and will simply serve to speed up, reduce or reverse the flow of LHD cars into and out of the UK and this should be factored into any 'investment' decision as boring as that sounds. In the medium term, my long held view is that given a stable exchange rate environment, we should see the value of RHD and LHD cars converging to within 10% of each other as 10% represents a reasonable penalty/premium for running a WHD (Wrong-Hand-Drive) car in any location - but the practical reality is that exchange rates are rarely stable over the medium term so you will invariably find yourself un-hedged with the chance that you might win or lose.
P.S. Interestingly I see 20x 550s vs. 12x 575Ms listed on PH today which goes against the perceived wisdom that the heat is with the 550?
Mogul said:
First Maranello of the season goes to auction in the UK on the 10th March at Coys. It's a LHD 550 that they list as right hand drive but the photographic evidence on their own website would appear to indicate otherwise!...
It says "library photos" so they are not if the car in question, which is RHD.Jonathan
You're right. Didn't spot that on the Coys page but I started off looking at the PH advert where we see just the one photo of the same car and on close inspection one can see that they have flipped the image to make it look RHD (the donkey is prancing off to the right!) and no mention that it is a library image...
http://goo.gl/Vi1xez
Poor show by Coys!
http://goo.gl/Vi1xez
Poor show by Coys!
Edited by Mogul on Monday 2nd March 13:38
Hi.
I see my cars first as enjoyment, then only secondly as perhaps "investment". And with that I mean, as long as it doesnt depreciate in value im already a happy man.
Having said that: I have just bought a 550 maranello 2-3 weeks ago. And it seems it the nick of time, because while I was looking for one around 9 months ago, I can remember there were over 40 cars for sale on mobile.de.
Last week there were 13-14 cars.
Today 9, of which 1 is a Barchetta.
It could be just seasonality, but the market seems to be drying up.
Im picking mine up in less than 3 weeks, and dont really care about the price going up or not, im just happy I could find a nice example in time before they became to expense for me!
I see my cars first as enjoyment, then only secondly as perhaps "investment". And with that I mean, as long as it doesnt depreciate in value im already a happy man.
Having said that: I have just bought a 550 maranello 2-3 weeks ago. And it seems it the nick of time, because while I was looking for one around 9 months ago, I can remember there were over 40 cars for sale on mobile.de.
Last week there were 13-14 cars.
Today 9, of which 1 is a Barchetta.
It could be just seasonality, but the market seems to be drying up.
Im picking mine up in less than 3 weeks, and dont really care about the price going up or not, im just happy I could find a nice example in time before they became to expense for me!
Mogul said:
A word to the wise: prospective currency movements can have quite an impact on the market
I agree that exchange rate movements (especially the Euro/£) are going to be a key driver of the market:http://www.pistonheads.com/gassing/topic.asp?h=0&a...
There is no doubt that LHD Ferrari's are looking good value (or RHD cars are looking expensive) at the moment following the weakening of the euro. The question is what effect does this have on car prices in the UK. I'd argue the following three effects:
(1) Cars exported into the UK by European manufacturers should have a lower list price. It'll be interesting to see how much more expensive the Ferrari 488 is compared to the Ferrari 458. Note the 458 came to the UK after a preciptious drop in sterling and was thus significantly more expensive than the 430.
(2) People will substitute buying LHD for RHD. We've past the point when the inconvenience of driving a LHD car is wholly offset by the cost saving.
(3) Overseas demand for UK cars will be dampened.
Result: RHD Ferrari's in the UK stop doubling in price every 6 months.
550 at Brooklands went for £160k plus buyers commission today. (£16k)
http://www.pistonheads.com/classifieds/used-cars/f...
http://www.pistonheads.com/classifieds/used-cars/f...
Edited by Xpuffin on Saturday 7th March 17:37
clarkei said:
WSR car. Supposed to be the only one in red. Possibly the last one made? Nice condition everywhere. Still a lot of money. Are there any bargains at auction these days?
A lot of the cars at the Brooklands never made the lowest guide, even the Auction houses are bigging up classic car prices.The car that has just sold at Brooklands (£179,200 hammer price, whatever that means in real money) was recently offered by the dealer Autoluce of Modena. Can't remember the exact asking price then but seem to recall that it was substantially cheaper than the £180k being asked for the other LHD Rosso Corsa / Nero 550 WSR that remains in the classifieds...
http://www.pistonheads.com/classifieds/used-cars/f...
WSR spec certainly has appeal but heck of a premium over an 'ordinary' 550 such as this lovely ultra low miles example..., once again in LHD
http://www.pistonheads.com/classifieds/used-cars/f...
http://www.pistonheads.com/classifieds/used-cars/f...
WSR spec certainly has appeal but heck of a premium over an 'ordinary' 550 such as this lovely ultra low miles example..., once again in LHD
http://www.pistonheads.com/classifieds/used-cars/f...
Mogul said:
The car that has just sold at Brooklands (£179,200 hammer price, whatever that means in real money) was recently offered by the dealer Autoluce of Modena. Can't remember the exact asking price then but seem to recall that it was substantially cheaper than the £180k being asked for the other LHD Rosso Corsa / Nero 550 WSR that remains in the classifieds...
http://www.pistonheads.com/classifieds/used-cars/f...
WSR spec certainly has appeal but heck of a premium over an 'ordinary' 550 such as this lovely ultra low miles example..., once again in LHD
http://www.pistonheads.com/classifieds/used-cars/f...
Was talking to the mechanic today at a social function that worked on the 208 he also had in the auction and he said the owner paid £90k for it.http://www.pistonheads.com/classifieds/used-cars/f...
WSR spec certainly has appeal but heck of a premium over an 'ordinary' 550 such as this lovely ultra low miles example..., once again in LHD
http://www.pistonheads.com/classifieds/used-cars/f...
Gassing Station | Ferrari V12 | Top of Page | What's New | My Stuff