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post #1 of 11 Old 12-09-2009, 09:44 PM Thread Starter
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Classic Ferrari Values

As markets seem to have stabilized (at least for now), were do we see values of the more common Vintage (250 GTE, 250 PF, 250 Lusso, 330 series, 365 series) and Classic (BB, 308s) Ferraris going in the next two years?
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post #2 of 11 Old 12-10-2009, 12:17 AM
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I think as time goes on and we see less 'mint' examples of some of these cars, the better examples will command a premium that in turn will push the prices of all examples up. This applies particularly to cars like the BB as we have already seen them jump quite a bit in the last few years.
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post #3 of 11 Old 12-10-2009, 12:38 AM
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I was talking to Mike Wheeler earlier this week and asked where he saw 308 prices going over the next couple of years. He said that prices for UK RHD 3x8's hadn't really gone down in the last couple of years as a weak GBP and strong Aus $ had meant a lot of UK cars are being bought up by Aussie buyers. However, he didn't feel that prices were going to climb in the near future either. He then went on to make me a rediculously low offer for my 308, so I think I will be keeping it for the forseable future.

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post #4 of 11 Old 12-10-2009, 06:19 AM
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I strongly believe that the economies of the main industrialized countries will dip into recession again in 2010 or '11. I just do not see how consumer spending will raise in a time were everybody is running out the "debt door".
I'm not talking about buying colgate toothpaste but consumer goods in the luxury departments...like Ferrari's. Prices for classic Ferraris have so far not corrected as expected, maybe only 20 - 30%, I would expect a 50% price correction from the '07/'08 highs on most classic models. I would expect that to come when time prooves that the economies are not returning fast to their pre crisis growthrates. Enthusiasts, sellers and Dealers still dream their highprice dream but as a matter of fact hardly any trade is done at their lofty price ideas. Time will tell. My priceforcasts are: 250 PF: USD 100'000, 250 Lusso USD 350'000, 275 GTS USD 300'000, 275 GTB 2 cam USD 400'000 4cam: 500'000, Daytona USD 200'000, 330 GTC USD 150'000. Just my 2 cents.
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post #5 of 11 Old 12-10-2009, 10:27 PM Thread Starter
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I am also quite concerned that we are looking at a second economic dip before we enter a true recovery. Consumer debt levels are still very high in most countries and taxes are about to go up. Not a good recipe for increased personal spending.
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post #6 of 11 Old 12-11-2009, 01:20 AM
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A second economic dip may be on the cards for other industrialised economies who have now exited the first recession. Here in the UK, we are still in the grips of the first recession and unlikely to come out of it any time soon with the current incompetents in charge of the economy

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post #7 of 11 Old 12-11-2009, 09:43 AM
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I agree with Boxer 212 and Archie: This is far from over, and I'm not just saying there are no true oversights or stop-gaps to thwart another melt down, but that more shoes, yes many, more will drop over the next ten months.

I predicted the non-secured credit industry would go south, this Christmas period back in June/July and I'm not far off. That industry is gone, essentially as persons like myself, who are the 'GREAT/GOOD' customers are being asked to boost monthly fees, payments etc....I cancelled every bank card I own, including business [shoot they took away about $150,000 LOC anyway!!!!].

I only have Credit Union cards, which sit there, about five of them. AND USAA ,which is sterling next to Navy Federal Credit Union = both very good overseas too.

This economy is far from recovered.

We are not truly producing anything, but only hoarding money into accounts, no lending, and asking the good people to pony up more over the short run

GUESS WHAT BofA and Citi are doing: Paying back TARP so they can continue the errors of their former selfs.

Ferraris will be good investments, albeit stable, which is where I like them. Non-depreciating even the 1990's era vehicles are a good buy I feel.

Only thing we'll have to worry about is govt. interv. in extra tax on older gas 'hogs' [think exotic here] to remain non-green....guess my daily drivers will be finally relagated to Parades and specialty vehicle license plate venues.

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post #8 of 11 Old 12-14-2009, 01:54 PM
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I have a rare Euro 308 GTB QV. In 2007 at Car Shows, I was getting a couple offers a show of $50,000 (it is in near mint original condition with low mileage). The economy was winding down in the Fall of that year. Mostly since that time, I only got a couple of offers around $43,000. This year, I've gotten a few offers close to $46,000.

So only judging from my personal experience, my 1983 Euro 308 GTBi QV is not down by much (-$4,000) since Summer 2007, and is going back up. Keep in mind, I'm not selling nor soliciting offers. I'm just observing.

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post #9 of 11 Old 12-14-2009, 05:29 PM
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I'm with 212 on this one. I don't think some of those will go down as far as he does, but overall, i see them continuing their slide for awhile then stabilizing for many years. Then back to the moon. I just recently sold my diablo roadster for $135k. i estimated it was about 160-170k at its recent peak. About 20% down. not too bad as i sold it at the worst possible time.



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post #10 of 11 Old 12-14-2009, 09:38 PM Thread Starter
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Quote:
Originally Posted by 212Export View Post
My price forcasts are: 250 PF: USD 100'000, 250 Lusso USD 350'000, 275 GTS USD 300'000, 275 GTB 2 cam USD 400'000 4cam: 500'000, Daytona USD 200'000, 330 GTC USD 150'000. Just my 2 cents.
I would tend to agree with you on most of the prices with the exception of the Lussos and 275 GTS which might have further to fall.

I will try to find a few cars listed for sale and see if we can track prices and when the sell.
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post #11 of 11 Old 12-14-2009, 10:10 PM
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I understand that Ferrari's (red Gold) are a different "commodity" and therefore prices may decouple from time to time from other economic indicators. But my scepticism evolves from the belief, that one of the biggest enemies for Ferrari price stability was so far not a enemy: Interest rates.

I'm not trying to "predict" (as this is the worst thing one may do) but I would not be surprised if the economies again would dip while interest rates would rise (so much institutions like most governements are in competition to get money to finance their unbelieveable debt burden) and therefore creating a classical "Stagflation" scenario. In such a scenario, I tend to believe, Ferrari prices would come to the levels mentioned or even below.
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