How about Palm Beach in a few months ?
Certainly I would like to believe that the information as shared is biased and completely wrong however for several years the conversations had with my associates as well as my gut has told me otherwise. I had one such associate share that this year Craig appeared much like a “cat that just swallowed the canary” throughout the process.
So IMO sadly, even with this information being brought public I suspect that we will see what is akin to "moths being draw to the light". If for no other reason then the big players will be doing all they can to cloak the information or at the very least quietly do a Spin Doctor routine so that they have a few more strong events to roll out of some of the gals that they have letting others retain them while sitting back to see how and when the dust settles (and it will we have been down this road before) at which time like vultures they will swoop in on the prey which in this case will be market adjusted values having been placed on the gals.
I went through the Exotic Car hoopla many years ago when it was the norm to have at least one Ferrari or ? in your financial portfolio. This was a discouraging time because far too many people with no passion for the gals yet plenty of disposable cash purchased them believing them to be wonderful financial investments aka inflation hedges.
With very few exception most lost their proverbial ass and those truly passionate about the gals found them back on the market at prices which not only made sense but also stimulated the desire and ability for the exercising of the gals.
The number of gals that went into storage only to be removed many years later having never been driven was phenomenal and during this process far too many deteriorated as the result of lack of being used. Gaskets, seals, tires, belts, hoses, brake fluid contamination, etc…… the list of storage related damage was extreme and the associated cost many times exceeded the value of the gals as the result of the significant downward market adjustment. A few such examples are the Ferrari 512 BB and the Lamborghini Countach.
Within the GT owners manual it discourages such a storage practice with the warning that if not used for (as I recall 3 years) the oil pump drive belt “MUST” be replaced because the lack of use with likely cause it to fail.
All I can say is “BT BARNUM” appears to be alive and well and in this situation the roaming wagon used during days gone past has been replaced with a Circus tent.
I think a moral of the story is “purchase want you like at a value that makes sense to you with little regard to what others say, feel, think, and even more importantly do not purchase based on what you have been told it might be worth someday”. I for one have never experienced someday however I clearly remember yesterday and am enjoying today.
Takes care
Shadowman
