Collapse of the Ferrari market
A rich friend forwarded me an advertisement that he got…
“Ferrari of New England is pleased to announce that we have 7 brand new Ferrari’s [sic] in Stock [sic] and ready to go, including 6 F430’s [sic] (Spider’s [sic] and Coupes) and a 612 Scaglietti. This is indeed a rare opportunity to become the first original owner of a new Ferrari. Most times it takes years and a purchase of a pre-owned Ferrari to attain this status.”
Drew
January 5, 2009 @ 10:02 pm
Collapse is a bit of an over statement. Yes, there is no longer a 2 year wait, but the prices haven’t gone down much at all.
You can find a few under-maintained examples at USD$75K, but only a few are selling under ~USD$100K.
And used 430’s, as well as Ford GT’s, are still selling at or above MSRP.
Ellis Vener
January 6, 2009 @ 5:58 am
I saw a piece on CNN yesterday about a new Ferrari dealership in the Tampa area. They say that they sold 8 Ferraris last month.
Paul Pencikowski
January 9, 2009 @ 11:32 pm
Not Ferrari, but I think relative…
My fly-buddy Al is buying a new jet (PC-12). No “deals”.
At the peak of the jet-boom (approx 2 years ago) it was a 2-3 year wait for delivery (depending on the jet). Now 3-6 months. But still, “list price; no-deals”.
Flip-side: The *used* jet market has collapsed. Al’s 6yo PC-12 is the best-equipped, lowest-priced PC-12 available in his year-group. Not one response in 2 months of advertising. Ouch.
Al says the PC-12 market is representative of all biz-jets.
Trivia: A PC-12 will fly from Boston to Key West FL with-reserves. While carrying 2-crew + 4-passengers + bags + fullsize dirt bike. One of my PC-12 stories below (if links work)…
Dominican Republic Day-3; Constanza and Santiago
Solar Power Homes
January 11, 2009 @ 1:58 pm
Paul,
To the best of my knowledge a PC-12 is not a jet. It’s a turbo-prop. Meaning it does have a turbine engine, but it’s a propeller aircraft.
Do agree with you that PC-12 is representative of entry level jet aircraft market. In some cases it’s even more expensive than jet aircraft.
Of course no other aircraft can match its utility for any price.