Ferrari Mailing List: Re: Fw: Ferraris-online.com Newsletter - 1972 Ferrari 246 GT> s/n 03000 - Price reduction

[Alexander Ishii (alexishii]

Normally I just lurk, but some folks will recognize me, and know that I've
been around awhile...

> Conflicting info?...:

Some number of years ago, I was living the "some people have a house, but I
have this car" scenario, and was simultaneously looking for either some real
estate, or a Daytona.  Made a number of fair offers on both, but it was a
house offer that got accepted first.

This is in the height of the financial crisis, so Daytonas could be "had all
day" for $275k (to use Clyde's terminology), but I saw a couple of perfectly
serviceable cars (with some major issues) trade in the $225k (or even lower)
range.

In the intervening years, I've continued to monitor the situation (hope
springs eternal for some great financial success), and the prices have more
than doubled, and many would say tripled.

One thing I've noticed though is that for many years now, inventory has
essentially been "zero".  If one talked to any of the established brokers,
one found that many did not even have a line on an available car; they would
all say "how much are you offering?  I can go through my rolodex of owners,
and see if anyone will sell".

At times, Mike S. was only listing "Craigslist" stuff (friendly jab at
Porsches and Corvettes); so called "Enzo Era Ferraris"?  Forget it...
nada...

Now perhaps in later life, Mike is taking it easy, but man, he used to be a
real rain-maker, so if he did not have cars for sale, things probably were
tight.

Now to me, it seems plausible that all the cars were being held on the
assumption that their value was still on the rise, so the question becomes
when do the holders start to lose faith and start trying to get out?  I've
been smiling at the latest mailings from Mike S., because (1) it seems he is
starting to have some inventory, and (2) it seems people are testing the
high-end of prices, and finding no buyers (hence the price reductions).

Perhaps with some luck (from my perspective), prices are on their way down
finally.

Mind you, I don't see being able to afford a stable-mate for my QV anytime
soon, but it took a long time to prices to go this high, so maybe it will
take a while for them to come down... :)

Personally, I would not put too much stock in the article, because the
nature of "bubbles" is that they are always biggest before they burst...

Besides, how much cred can you have when you cite a

    "Ferrari 275GPB4"

as a potential investment target?  :)

    -- Alex
    84 Nero Metallic QV

> ----------------------------------------------------------------------
> 
> Message: 1
> Date: Sun, 13 Dec 2015 07:24:02 +0000
> From: Peter Rychel <dino308gt4 [at] hotmail.com>
> To: LS <lashdeep [at] yahoo.com>, The FerrariList <ferrari [at] 
> ferrarilist.com>
> Subject: Re: [Ferrari] Fw: Ferraris-online.com Newsletter - 1972
> Ferrari 246 GT s/n 03000 - Price reduction
> Message-ID:
> <BLUPR19MB0225EAFD6CDCF580B7E765E7DFEC0 [at] 
> BLUPR19MB0225.namprd19.prod.outlook.co
> m>
> 
> Content-Type: text/plain; charset="iso-8859-1"
> 
> Conflicting info?...:
> 
> 
> http://www.cnbc.com/2015/12/05/jay-leno-wannabes-classic-car-market-goes-into-
> overdrive.html
> 
> 
> Peter
> 
>