It's a question of value
Hi Guys, I'm an Aussie Fcar owner based in Ireland, and on a recent trip to Aus I visited a few dealers to check out the performance car lie of the land. I was surprised when a dealer commented to me that original Aussie delivered Ferrari's attracted a significant premium over the equivalent imported version. And actually would not be interested in taking in an import model at all.
This got me thinking, is this really the case, and if so what would the differential be and why?
I can understand that a full local history does add something as an owner, but not to the point of a 'significant' price difference. I would have thought that with the Aus currency being so high that there would be a considerable number of imports coming into Australia as it is now more affordable to do so and market for rarer cars has opened up.
When I started my search for my 575M I was looking in all RHD markets including Aus, as my priorities were model, specification and condition/history. Because of this it meant the pool of potential cars was very small so the search had to be wide.
Is it a perception on the buyer side that an import is inferior in some way (I would have thought the specs from say a UK Ferrari and an Aussie one are almost indistinguishable) or is it that the buyer holds the provenance of the car at a higher value than model, spec and condition/history? Or is this more on the dealer side because they perceive it harder to sell an import or are actually not happy having to compete with people sourcing their cars from outside markets?
Does it then follow that LHD Euro cars would sell below the market price in the US?
All comments welcome and if this topic has been done before my apologies. By the way I saw some fabulous Ferrari's around Sydney; it's the only city I have seen a 458 just parked on the side of a busy city street at a meter like any other car!
Michael- There are differences between the "C" VIN RHD UK cars and the "D" VIN Australia cars. You can go through Ricambi's online parts catalog and see what those differences are. The conversion process in Australia, though, is very stringent, even more so than here in the States, and the functional differences between an Australian and UK RHD import are negligible.
Here in the States, converted Euro spec cars vary in price differential, with early Euro 308s with dry sump bringing at least as much as a US spec car. With 550s, Euro versions here are worth less than US versions, probably because they have been monkeyed with by a conversion house. I know of no 575Ms here that have been converted yet, probably because there is little difference in price currently.
I think the reason for the disparity is the feeling that the imports are not as produced by the factory. That bothers some buyers, but not others, and apparently bothers some of your dealers, too. For the 575M, all those produced originally as "D" cars were fitted with F1. If someone wants a RHD, three pedal 575M (69 were produced for the UK market), an import is the only option.
What Taz says sounds completely true to me. Might have better luck with private sale there.
Hi Taz, as usual you have pointed to the useful background info, and I think you draw the right conclusion. There is a psychological barrier for the buyer that some how an import is not as well built or at least has to be modified to meet local standards so must have started out inferior.
I have a few reasons for bringing this up not least because I have started the search for a little brother (V8) for the 575M. So I started to think if I still lived in Aus, I would have no problem buying an Aussie Ferrari, and obviously I don't have a problem buying a UK or Irish Ferrari living in Ireland; but would I have a problem if that was mixed up?? When I looked for my 575M I didn't have a concept that location affected quality, I just assumed all cars leaving the factory were equals in general terms. But as you highlight, if I was in Aus when I started my search I would have had to import it anyway as mine is one of the 69 UK manuals.
And maybe when you move around the world a lot in your career, you leave these types of barriers behind, as you assume there is always a chance you might move again and you would have to take your Fcars with you!!:thumbsup:
Michael- In that case I would take the three pedal 575M back to Australia when the time comes and keep it a long time. Eventually, being an import will not make much difference, as with the early 308s here in the States. Plus if you eventually decide to sell her, the rarity of the three pedals (246 worldwide), may make a difference to buyers.
While in the UK, you might check with one of the conversion houses in Australia and see if there are any parts you will need to complete the conversion. Maranello Classic Parts gets really good prices on what you will need, like a metric instrument panel. Better yet, you might be able to locate some of the parts used.
Lots of D spec V8s available with three pedals in Oz.
Hi Terry, the 575 is a keeper and having been out of Aus for the guts of 2 decade now I don't think I'll be heading back there any time soon. Luckily I get to go there regularly on business so don't miss it too much.
My curiosity is peaked now so I will have to follow up on the conversion requirements as you suggest.
I brought a couple of cars over to Ireland from Aus some years back one being a new HSV GTS (think they sold a version of them under the Pontiac brand in the US) and had no conversion requirements to undertake? Although now I think about it UK cars are in miles but Irish cars should be in KM's these days, so that would explain the compliance at least on that front. Not sure when Ireland changed to metric. I hadn't noticed if the Irish 360's and 430's I have looked at recently have metric speedos, must check.
Think it was 2005 when Ireland converted to KM.
What kind of little brother V8 are you thinking of?
Hi Barry, I'm thinking 430 F1 with race seats, but there is the odd nice 360 around, but I'd want a manual if I was to go that route.
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