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

[clyde romero (clyderomerof4]

I am with you this is a losing proposition 

Clyde Romero

just the right amount of wrong!

"SCARS ARE TATTOOS WITH BETTER STORIES"
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-----Original Message-----
From: Erik Nielsen [mailto:judge4re [at] gmail.com] 
Sent: Tuesday, November 08, 2011 6:38 PM
To: Clyde
Cc: ferrari [at] ferrarilist.com
Subject: Re: [Ferrari] Beating the system....

So how much of a deposit did they need to put down?  Holding time
before they flipped?  Their cost of capital?  25k may not actually be
breaking even...

On 11/8/11, Britt2Asa [at] aol.com <Britt2Asa [at] aol.com> wrote:
>
> I have friends here in the FOC that do this with the 458. One of the guys
> in my area group took delivery of a  458 last September and another this
> August with a Spider on the way. Sold the first car for 25k profit. Plans
to
>
> flip the second when the Spider comes in.
>
> I also know a guy well who did this with the 430 and lost his ass on the
> car because the demand wasn't there.
>
> So, it works if the car is HOT but if it isn't you are tanked. Thing is,
> these guys ordered the cars  3 years ago and got the first ones, they
> didn't
> even know what it would look like when they paid the deposit. If Ferrari
> comes out with a 458 than Cha ching! If its a minger than you lose.
>
> that's the view in the UK anyway.....
>
> Britt
>
>
> BR in the  UK
> 1986 328GTS (LHD 89,940km) Died August 19, 2006 Shrewsbury UK
> 1980 400i  (RHD 74,000 miles)
> Searching for the right 512TR
> 1997 Fiat  Barchetta
> 1985 Bertone X1/9
> 2003 BMW 530d
> 1991 Alfa Spider S4  LHD
> 1993 Alfa Spider S4 LHD
> 2010 BMW 320d
>
>
> In a message dated 08/11/2011 01:31:37 GMT Standard Time,
> fellippe.galletta [at] gmail.com writes:
>
> 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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