Ferrari Mailing List: Re: clyde tips on buying a ferrari (clyde romero)

[Erik Nielsen (judge4re]

I read the 2014 Knight Frank Wealth Report over the weekend, 2013's numbers on UHNWIs (those with US$30m of assets excluding their main residence) for 2013 = 167,669.  Yes, some much below that level could manage it, but that's pretty much the deep end of the pool that play pretty much anywhere excluding jets and the really big yachts and not have to eat mac and cheese to make ends meet. 

 

Goldman keeps telling us no more than 5% in toys, yadda yadda yadda...

On Mon, Mar 17, 2014 at 10:18 AM, Clyde Romero <clyderomerof4 [at] bellsouth.net> wrote:

But Eric saying 7 billion is a little out there 

At the most who could afford a Ferrari world wide maybe 1-2 million?

In victory you deserve Champagne

In defeat you need it!

Scars are Tattoos with better stories !

Clyde Romero

Clyderomerof4 [at] bellsouth.net.          

678  6419932

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On Mar 17, 2014, at 10:39 AM, Erik Nielsen <judge4re [at] gmail.com> wrote:

Don't believe the hype.  The total global market for new cars priced at over $200k is around 12,000 units.  For 7 billion people.  And anyone believing that the "cut" Ferrari made to their production levels was to keep exclusivity up is drinking too much of the coolaid.  The Chinese market was drying up due to a graft crackdown, all of a sudden it wasn't too keen to be seen in a new Ferrari in Beijing. 

 

The "cut" was basically the softening of that specific market.  Coincidence?  Doubtful...

On Mon, Mar 17, 2014 at 9:30 AM, Fellippe Galletta <fellippe.galletta [at] gmail.com> wrote:

I don't know that 288s and F40s are depreciating assets.....at least not to those who bought 5-10 years ago. I think it's safe to say those cars will never be as low as $250-300k ever again, and even if so, not a dime lower.

An interesting thing I heard from somebody is that it might actually pay to be a guy who worked his way up the Ferrari ladder at a dealership. There are those who can buy the newest F, at MSRP or less, sell it after 12-18 months for no loss or small profit, and rinse, recycle, repeat. 

A bit of startup money required, but once in you theoretically have a free F for years. You then spend your real money on an older one you really love, and just keep swapping the new ones. Best of both worlds I'd imagine. 

It's hard to say if one really needs to debate the merits of owning a 288, F40, etc......you buy because you love it, and because money is not a big deal to you. All these F cars come and go, but those two always remain top of the list. 

FG

On Mon, Mar 17, 2014 at 8:19 PM, Larry T <l02turner [at] comcast.net> wrote:

R&T had a recent issue about the "51 Coolest Cars". They have both the
288GTO and the F40 on the list.  Of course, putting a car on a list and
buying one are 2 different things. Personally I'd prefer the 288GTO or
that 275 GTS RGarven mentioned... yes, I know those are at 2 ends of the
Ferrari spectrum...

Your comments about putting 500K into a depreciating asset are certainly
very valid..

Sincerely,
Larry

On 3/17/2014 9:29 AM, Erik Nielsen wrote:
> The other thing that one has to consider for investment is where is
> the market for these cars going?  I would guess that I am in the
> "target demographic" for an F40 (wife still says I can get one if I
> want one).  But every time I'm ready to pull the checkbook out, I just
> can't justify spending $500k+ for something that is realitively
> illiquid, has rather large carrying costs (maintenance, insurance,
> garage space, etc...) and really can't be used to it's potential on
> this side of the pond.  Cars are only worth what someone is willing to
> pay for them.  And what do you get?  Bragging rights?  Among who?
> Middle aged guys that are trying to justify their garage portfolio
> leveraged to the hilt?  Thanks, but I'll pass.  I can appreciate
> quality without feeling the need to own it. Anyone hyping anything is
> likely trying to sell you something or justify something they've done
> to themselves.
> And don't kid yourself, this isn't a property ladder game, if you're
> "new" to the market, there are a lot of good choices out there for
> less money than a 25 year old Ferrari...
>
>
> On Mon, Mar 17, 2014 at 6:08 AM, Clyde Romero

> <clyderomerof4 [at] bellsouth.net <mailto:clyderomerof4 [at] bellsouth.net>> wrote:
>
>     Good point but you really got a want it ,if you know what I mean
>     Even if I had Steve Jenkins money I still wouldn't buy a car for
>     investment purposes
>     Nothing that is reliable from Ferrari is going to be collectible
>     in my opinion
>     The F50 and all those limited editions runs will soak those who
>     bought them dry
>     Just look at the Superamerica crowd (based on the 575)
>     Couple hundreds cars made , new the car ran $250k plus
>     Go on any of the used car sites to include eBay
>     They are running around $150k which means the dealer gave them
>     $100k if that and they had to buy a car!
>
>
>
>     In victory you deserve Champagne
>     In defeat you need it!
>
>

>     Scars are Tattoos with better stories !
>
>     Clyde Romero

>     Clyderomerof4 [at] bellsouth.net <mailto:Clyderomerof4 [at] bellsouth.net>.
>     678 6419932 <tel:678%20%C2%A06419932>

>
>     Confidentiality Notice:  This e-mail ( including attachments ) is
>     covered by the Electronic Communications Privacy Act, 18 U. S. C.,
>     Sections 2510-2521, and is intended only for the persons or entity
>     to which it is addressed, and may contain confidential or
>     privileged material.  Any unauthorized review, use, disclosure,
>     dissemination, copying, forwarding or distribution is prohibited.
>
>
>     On Mar 17, 2014, at 3:06 AM, Adam Green <FlatCrank [at] gmail.com

>     <mailto:FlatCrank [at] gmail.com>> wrote:
>
>>     You could take the same criteria to buying a 911 or an E-type Jag
>>     or any number of desirables, but when it comes down to the wire,
>>     you either pay up now and buy a ridiculously slow, cantankerous,
>>     unloved and expensive to maintain F40 for a "ridiculous" $200K in
>>     2000, or you rock your rocking chair on the front porch and see
>>     buyers paying $1M for the same car a decade later.  I assure you,
>>     I know.  I have the rocking chair.
>>
>>
>>
>>     Adam
>>
>>
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