Ferrari Mailing List: Re: Beating the system....

[clyde romero (clyderomerof4]

You got that right schmucks and all

Clyde Romero

just the right amount of wrong!

"SCARS ARE TATTOOS WITH BETTER STORIES"
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-----Original Message-----
From: judge4re [at] gmail.com [mailto:judge4re [at] gmail.com] 
Sent: Monday, November 07, 2011 8:48 PM
To: Clyde
Cc: The FerrariList
Subject: Re: [Ferrari] Beating the system....

Flipping only works when demand >> supply. Those days are over. Too many
cars, too many over leveraged schmucks. 

Sent from my iPad

On Nov 7, 2011, at 7:31 PM, Fellippe Galletta <fellippe.galletta [at] gmail.com>
wrote:

> Clyde's comments on Ferrari pricing eventually tanking, illustrates what
happens when you buy early to mid cycle, hold onto a car forever and then
have little equity to show for it down the road. 
> 
> Apparently there are two ways to beat this system:
> 
> a) Buy fully depreciated cars 
> 
> This one is obvious.
> 
> One that is not so obvious is:
> 
> b) Buy brand new and flip every 1.5-2 years:
> 
> The caveat though is you have to have an in to buy at MSRP. The resale
market will reimburse your "depreciation" when you're ready to move it. 
> 
> From what I see, if you're one of the esteemed who can do so, then you can
essentially drive a new F every few years for very little. 
> 
> Given the massive depreciation on new Ferraris, Lambos, it's hard to
rationalize a brand new purchase unless you are making mega money -- I'd
estimate a true Ferrari/Lamborghini "client" is making at least $2-3 million
a year if not more. Whatever income/wealth point allows you to flush $200k
every few years without blinking an eye....that's the sweet spot for buying
brand new, for *1* car, LOL. 
> 
> But this flipping thing is interesting. You may have to subsidize the
dealer on your first purchase, but afterwards you're good to go the rest of
the way. You flip "new s***", and on the side you buy and own the legends
that are more or less depreciated and worth keeping......Flat 12s, Diablos,
Esprits, the right 911s, reasonable muscle cars, etc.
> 
> What do you guys think? I believe this is happening, unless certain people
are lying. ;-)
> 
> FG
> 
> 
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