"Big" repairs and resale values?
Discussion
So, we all share a view on the value of service histories, all stamps present, manuals, etc.
I was reminded of a great 512M for sale in Germany recently. It's been advertised for ages at maybe £30K under the European street price (since christmas, when the European dealers woke up, let's now call it £100K under!).
The "problem" - if that's what you'd like to call it - is that when this motor was 2-3 years old it was damaged and repaired - correctly I might add - by a main dealer at a cost of gazillions of DMs (pre-Euro!) and it even has the papers to prove it. But, its a git to sell and a risk to buy.
So, is the "smell" on this car off putting? And if so, why?
Remember the old classic racers were not only broken every weekend but the teams often transferred a new chassis onto an old shell, or vice versa, and some even had/still have the same chassis number yet no one bats an eyelid when these come up at action.
Any thoughts?
Would you buy one/would you care, bearing in mind the potential cost saving?
I was reminded of a great 512M for sale in Germany recently. It's been advertised for ages at maybe £30K under the European street price (since christmas, when the European dealers woke up, let's now call it £100K under!).
The "problem" - if that's what you'd like to call it - is that when this motor was 2-3 years old it was damaged and repaired - correctly I might add - by a main dealer at a cost of gazillions of DMs (pre-Euro!) and it even has the papers to prove it. But, its a git to sell and a risk to buy.
So, is the "smell" on this car off putting? And if so, why?
Remember the old classic racers were not only broken every weekend but the teams often transferred a new chassis onto an old shell, or vice versa, and some even had/still have the same chassis number yet no one bats an eyelid when these come up at action.
Any thoughts?
Would you buy one/would you care, bearing in mind the potential cost saving?
It wouldn't bother me - I'm more interested in how the car is now than how it was. If a decent inspection gave it an all clear then that would be good enough for me. It sounds like the crash, and the possible perceived knock on value, has been figured into the price anyway if it really is under market price and that could mean you get a first rate car at a knock down price. This is all assuming the car really is in good shape now though - buy on condition.
fyfe said:
It wouldn't bother me - I'm more interested in how the car is now than how it was. If a decent inspection gave it an all clear then that would be good enough for me. It sounds like the crash, and the possible perceived knock on value, has been figured into the price anyway if it really is under market price and that could mean you get a first rate car at a knock down price. This is all assuming the car really is in good shape now though - buy on condition.
It would bother me. And it'd bother a Ferrari main dealer too. They wouldn't buy it from me - it'll appear on their database.So my resale market is limited should i wish to get out of the car in a hurry.
But maybe that's just me wanting to protect my investment/ limit the downside? Tbh if I had a budget and couldn't find an example of a model in that budget, I'd look at other models. Oh, and I'd much, much rather buy a car with higher than average miles than a car that had been the subject of a major insurance claim.
Thanks for the comments guys. You're both right and it doesn't matter until you come to sell anyway. The thing is, if its been repaired well (probably better than when it left the factory) is this a bad thing? I know what you say about main dealers steering clear but I think indies are far more flexible - they buy whatever they can move on.
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