Tuesday, December 23, 2008

Ferrari Pricing Part 2

I am now several days over my one year with the Ferrari. The car is slumbering, hibernating is probably a better word, in my garage. The Porsche is dry in the shed I built a few weeks ago. The shed has survived some unusual winter weather. We have well over one foot of snow on the ground at our house and it is still snowing. There is little chance for a winter drive in the Ferrari this year.

I have been watching the market for Ferraris for the past few weeks and on the surface it appears to be all bad news, if you are a seller. I have a hunch, only a hunch, nothing more than a hunch. Good cars are still commanding a premium and while the total price is now less than six or nine months ago good cars have not fallen nearly as far as not so good cars. There are many stories of cars selling for, historically speaking, exceptionally low prices, but I have yet to hear of a car with an exceptional history and desirable options selling at a big discount. Not saying it won’t happen but I wager a number of the “cheap” Ferraris which have traded recently come with a significant maintenance liability.

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