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Offline Steve355F1


  • Joined: Oct 2013

  • Drives: 355F1 GTS
  • Location: Adelaide
It's a great question to ask someone - "why do you think your F430 is worth $240,000? when the current wholesale price is $185,000". Now they will know that, as they have already tried to sell it to a dealer and had a minor heart attack when they were told the price. The dumbness of smart people often leaves me speechless.

Now plenty of people out there will go "no-way, you will buy them much cheaper than that"...blah...blah. But if you want a really neat, low Km, straight well cared for car then you will pay a little bit more, but it will be better "value". I usually find that value for money is better than cheap.


 :doh:


I agree with you.
But, using your example, the dealer who bought the F430 for $185k would put it out there for $230k+ and presumably it would sell.
Is buying from a dealer really worth paying that much extra from a buyers perspective?



Offline TJB


  • Joined: Oct 2013

  • Location: South Australia
While we're on the topic of seemingly "over-priced" Ferraris ....

Most F430s are going for between $200K to $250K, with a few either side. But this 2009 F430 Spider is asking for $295K - a very nice car, and I'm sure it's been meticulously maintained, but they will struggle to find a buyer at that price IMO. http://www.carsales.com.au/dealer/details/Ferrari-F430-2009/AGC-AD-14976596/?Cr=1&sdmvc=1
Especially when you can buy an F430 Scuderia for just $299K. http://www.carsales.com.au/dealer/details/Ferrari-F430-2008/AGC-AD-14996486/?Cr=19&sdmvc=1

Another example:
Here is this 612 Scaglietti for sale for $239K. http://www.carsales.com.au/private/details/Ferrari-612-Scaglietti-2008/SSE-AD-2238272/?Cr=0&sdmvc=1
By comparison, the only other 612 Scag for sale is asking $420K. Absolutely dreaming. http://www.carsales.com.au/private/details/Ferrari-612-Scaglietti-2008/SSE-AD-179674/?Cr=1&sdmvc=1



Offline TEZZA

  • Those Frenchies seek him everywhere

  • Joined: Oct 2011

  • Drives: No matter what it is I am still lusting after something better.
  • Location: In a sunny place

I agree with you.
But, using your example, the dealer who bought the F430 for $185k would put it out there for $230k+ and presumably it would sell.
Is buying from a dealer really worth paying that much extra from a buyers perspective?

Well if you buy from a licensed dealer you have a 100% right to title.
You may also get some sort or warranty (worth what?)
If the dealer has a good reputation he won't want to sully that by selling you a dud (maybe?)

If I am going to buy privately I want some consideration for the risk I take.

Why would I pay retail price from a Private seller. That is dumb and I try not to be dumb.

 :)





Offline theintelligent1

  • Vodka is Just Unfinished Gin

  • Joined: Oct 2010

  • Drives: Miss Daisy
  • Location: Lurking
I read a report about a year ago about the price people put on their houses, and their justification for their price. The guy doing the report was some Physc guy doing some PHD or similar. He narrowed it down to the fact they thought their house was worth more because it was "theirs". Now that is amazing!

It's a great question to ask someone - "why do you think your F430 is worth $240,000? when the current wholesale price is $185,000". Now they will know that, as they have already tried to sell it to a dealer and had a minor heart attack when they were told the price. The dumbness of smart people often leaves me speechless.

its called the endowment effect........even works with a worthless item....... then if you give it to them.......suddenly becomes infinitely more valuable.......



Offline TEZZA

  • Those Frenchies seek him everywhere

  • Joined: Oct 2011

  • Drives: No matter what it is I am still lusting after something better.
  • Location: In a sunny place
While we're on the topic of seemingly "over-priced" Ferraris ....

Most F430s are going for between $200K to $250K, with a few either side. But this 2009 F430 Spider is asking for $295K - a very nice car, and I'm sure it's been meticulously maintained, but they will struggle to find a buyer at that price IMO. http://www.carsales.com.au/dealer/details/Ferrari-F430-2009/AGC-AD-14976596/?Cr=1&sdmvc=1
Especially when you can buy an F430 Scuderia for just $299K. http://www.carsales.com.au/dealer/details/Ferrari-F430-2008/AGC-AD-14996486/?Cr=19&sdmvc=1

Another example:
Here is this 612 Scaglietti for sale for $239K. http://www.carsales.com.au/private/details/Ferrari-612-Scaglietti-2008/SSE-AD-2238272/?Cr=0&sdmvc=1
By comparison, the only other 612 Scag for sale is asking $420K. Absolutely dreaming. http://www.carsales.com.au/private/details/Ferrari-612-Scaglietti-2008/SSE-AD-179674/?Cr=1&sdmvc=1

 :thumbsdown:    :thumbsdown:    :thumbsdown:

Yes I agree. Why would someone pay $295,000 for a car worth $215,000/$220,000
Are there really stupid people out there able to pay circa $300k for a car?  I don't think so. If you have been smart enough to make that kind of loot, then I think you are probably a bit smarter than average.

So the guy is dreaming or having a wank. But absorb my comment about peoples house prices and you start to understand, you probably wont agree, but will have a handle on the reasoning as bizarre as it is.

But maybe the $70 million lotto winner wants that car and says "stuff it, I want it and I want it now, and forks over the dosh. As Kerry Packer once said "everyone gets one Allan Bond in their life".

 :p



Offline TJB


  • Joined: Oct 2013

  • Location: South Australia
:thumbsdown:    :thumbsdown:    :thumbsdown:

Yes I agree. Why would someone pay $295,000 for a car worth $215,000/$220,000
Are there really stupid people out there able to pay circa $300k for a car?  I don't think so. If you have been smart enough to make that kind of loot, then I think you are probably a bit smarter than average.

So the guy is dreaming or having a wank. But absorb my comment about peoples house prices and you start to understand, you probably wont agree, but will have a handle on the reasoning as bizarre as it is.

But maybe the $70 million lotto winner wants that car and says "stuff it, I want it and I want it now, and forks over the dosh. As Kerry Packer once said "everyone gets one Allan Bond in their life".

 :p

Yeah I see what your saying mate, people definitely think like that about their cars. That F430 is a 2009 model - but I don't think that makes it worth any more than a 2005 model, even though some people seem to think so. An 05 model with 10,000kms would be just as reliable as an 09 model with 10,000kms wouldn't it?

The second 612 Scaglietti I posted - it's rego expired in October 2012, so it's been there for a long time but I don't recall a price drop in that time.



Offline Steve355F1


  • Joined: Oct 2013

  • Drives: 355F1 GTS
  • Location: Adelaide
Well if you buy from a licensed dealer you have a 100% right to title.
You may also get some sort or warranty (worth what?)
If the dealer has a good reputation he won't want to sully that by selling you a dud (maybe?)

If I am going to buy privately I want some consideration for the risk I take.

Why would I pay retail price from a Private seller. That is dumb and I try not to be dumb.

 :)

I agree no sane person would pay retail from a private seller, but $40k, $50k extra?? Come on.

The very idea that by buying from a dealer I'd avoid sketchy behaviour is hilarious!
It's probably worth something, but not that much.



Offline TEZZA

  • Those Frenchies seek him everywhere

  • Joined: Oct 2011

  • Drives: No matter what it is I am still lusting after something better.
  • Location: In a sunny place
its called the endowment effect........even works with a worthless item....... then if you give it to them.......suddenly becomes infinitely more valuable.......


Only if you believe your own bullshit!!!!

I heard it called "The luxury car merry-go-round".

You buy a new Benz. Think you have done a good deal, they do the finance via MB and all is good.
Three years later you come in they trade the first and off you go in a second new one (leased of course by MB finance.
Three years later you come in and you are rooted because you paid too much for the first, got creamed on the switch to the second and by the time you get to the third you owe twice what it is now worth. Some smooth talking salesman in a shiny suit fed your ego and stitched you up. Come in spinner.
I am not picking on Benz as BMW, Lexus and everyone in that group does it.

Allow what you are buying to be worth 40% of purchase cost in 3 years. Factor that into your lease. Use an up-front balloon payment and lease for 3 years at 40% residual and you should not be too far out unless it comes from France or is a FIAT (Fix It Again Tony).

But what do most do? Take 4 and 5 year leases with high residuals to keep their repayments down so they can buy a car they cannot afford, to impress people that could not care less about them. Ha!



Offline robertb

  • Poll Dancer

  • Joined: Apr 2006

  • Location:
  • Drives:



But what do most do? Take 4 and 5 year leases with high residuals to keep their repayments down so they can buy a car they cannot afford, to impress people that could not care less about them. Ha!
Perhaps the most true comment i have ever read on a car forum......exact no one could care less,what there driving .

Its a very expensive way of impressing someone ,you perhaps don't even know.Or who could careless .




Offline robertb

  • Poll Dancer

  • Joined: Apr 2006

  • Location:
  • Drives:
on the CHP/Lease and final payment .

Long before the LCT was bought in.

It was not uncommon for buyers on Porkers,RRs,and high end Benz's...not sure about Ferrari cars as I never financed one.

For us to do 1 year or 2 year loans with a 80% residual,the idea being that.

Cars held there value,the buyer got a new car every 1 or 2 years.

Are the good old days and the brokers got paid 4% of the deal.

And there was structured payments ie payments started low and increase each year over the time of the loan.

I can remember doing a new Benz 380sl and pulling over 12k out of the deal,when most blokes were earning about $400 a week.

The lender Citi bank would pay the introducer the net over a certain %...the top brokers in the mid 80s would often pull in over 400k a year in income.



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