Ferrari Mailing List: Re: Holly cow

[Brian E. Buxton (BrianBuxton]

Price guides are just that - guides.  They don't set the market, they report the market.  Some are better than others and are more accurate depending on the subject.  So looking up a Toyota Camry value on Kelley Blue Book will lend better (more accurate) results than looking at KBB for a Ferrari Enzo value.  While looking at Sport Car Market or FML will give you a much better idea on the Enzo market.  But either way if KBB say an Enzo is worth $5M they won't write you a check for that amount, and if they report an Enzo is worth $100,000 it doesn't mean you can find one at that price.  And KBB can't deliver one to you for that price.

Referencing FML, if an Enzo is advertised for $2M there with no takers and then is shipped to Barret-Jackson where it sells for $800,000 then it doesn't mean FML is trash, nor does it mean that anyone referencing that classified ad source is uneducated or out of touch with the market or "just a Porsche expert."  It simply means the owner running the ad had unrealistic expectations of the value.  And the sale at BJ, plus some research into other Enzo sales, will show if the $800K is the current market value or if it was an anomaly based on celeb ownership, exceptional condition, low mileage or rarity in colors or options. 

Price guides aren't bad - they just have to be taken with a grain of salt and other research to form an intelligent, informed conclusion.

-- 
Brian E. Buxton 

Auto Acquisitions and Consulting  |  5411 S.R. 261, Unit 903  |  Newburgh, IN 47629
(812) 760-5513 mobile  |  (812) 476-2284 fax

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So. IN Region Porsche Club of America

On 12/8/18 3:32 PM, Alexander Ishii wrote:

As no one else has risen to their defense... :)

I will say that while I give no weight to actual prices listed in FML, their
Asking Price Index (and note that they are completely upfront that these are
asking prices) is a pretty fair indicator on the trends of prices.

I can't say anything about post-70s numbers (which is funny, since my only
F-car is the 308), but I always track FML when I start to muse about getting
an old V12, and the Asking Price Index seems to come pretty close to showing
when the true "trough" points happen.  And yes, I am talking about private
sales as well as auctions and dealers; when I have been "shopping", I have
truly been shopping, and thus making offers, and seeing what offers I lost
cars to...

Cathy (the lady who runs FML) is also a very gracious, and is happy to help
you research the history of individual cars.

In case the above does not make it clear, I think FML is a useful bunch of
folks, and I like them.

Any mind you, while "things are worth what people are willing to pay," in a
non-transparent market like vintage Ferrari's "what people are willing to
pay" can vary greatly depending on timing, circumstance, and available
information.

    Cheers,
    Alex
    Nero Mettalic QV




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