Why are the GT's dropping in prices when V8 Ferrari hold on?

[AtomicGT]

Who gives a Flying F... about Ferraris? I bought my GT because it is the car that I think is the most attractive, best built machine on the road, and most amazing car to drive. When I pass a Ferrari, I laugh at the little pinhead and his flippers, oh and don't forget the red driving shoes, when they get out of their cars.

The Ford GT will appreciate, just drive it, service it, take care of it and you have an investment! But I think we bought the car for more than just an item to worry about what it will be worth in 10 years. :cheers

 

[LEMANSZ]

ditto atomic

 

[ChipBeck]

Near new Ferrari resale values.

Near new Ferrari resale value is artifically jacked up because dealers are sold out and can't charge more than MSRP. Current owners get preference and non Ferrari owners who can't get a car and are forced into paying a premium in the near new market. The same thing happened to Harley-Davidson 10 years ago when the dealers were sold out a year in advance. Buyers not willing to wait paid $5000.00 over MSRP for 1 year old Harley's. As soon as production caught up with demand that premium disappeared overnight. 10 years down the road this is not a factor and the cars must stand on their own. Look at the resale value of Ferrari and Lambo with over 10,000 miles. Resale values of those cars are pretty good IF you don't drive them. Porsche holds up much better with over 10K miles and the GT will too. When I took a Ferrari in trade with 25,000 miles on it it wasn't worth squat. 4000 GT's is a drop in the supercar bucket. Even after swimming in GT's for 4 days at the rally I still marveled at their beauty from any angle. The Venus de Milo is still beautiful and so is this 41 year old race car body. A great history, incredible performance, and a stunning shape that has stood the test of time. Look at a 20 year old Ferrari, they look kind of goofy. Look at the Countach, it looks ridiculous today. :ack Very soon, new GT's will be history. Well kept GT's will be prized long after the 360/430's have been placed in the same dust bin that the 308 resides in today. Can anybody look at the 430 and say, "This is a classic shape"? No way. The very first magazine test of the 430 said it all when the editors praised the car and ended the article with, "the only thing we don't like about the 430 is the way it looks"!!! :ack I believe the GT will be far more valuable than a 430 with comparable miles 10 years from now. JMO

Chip

 

[Neilda]

Spot on Chip, my sentiments exactly.

It seems that most of us in agreement - and certainly from a UK perspective, I would entirely agree with oldoaks comments....

Ultimately GT owners lusted, waited and jumped through various hoops to get a GT, can't really imagine selling it to make a $5k or a $10k loss. The purchase for most was never about money or appreciation - we just had to have it and now we have, it lives up to the dream - great to look at (more than any other car) and fantastic to drive. It's a car for enthusiasts rather than posers.

However I absolutely understand the additional comfort that an appreciation in value brings - even though it's irrelevant. It just makes us looks smarter!

 

[scylla6]

Centerpunch,
Candide it was and is!
Tom

 

[Beach-GT]

Fixation

I don't know what the fixation on ferrari is. I was at Sam's club getting gas for my Ranger one day (I would not put it in my GT) and I pulled up behind a new Red Ferrari (Have no idea what model) and out pops this bozo with a dry version of Elvis hair and alien sun glasses on. He's wearing a blue and red Spandex excersize leotard thing. I about fell out of the truck laughing. I wish I had a camera. I couldn't figure out if this was some old lady's boyfriend or some dude's boyfriend and sent him to Sam's to gas up! :rofl
If this is what drives Ferrari.......I want no part of it. :ack Thank GOD for a GT :lol

 

[LEMANSZ]

here in SoCal, Ferari's are as common as Porsche's...the ONE time I atteneted a Ferrari 'owner's club meeting'...was my last....snobs...pricks...pretension...etc., etc....the thing that I enjoyed in Detroit was that among some VERY rich guys and some not so rich guys...everone who is a GT owner...is an enthusisaist and not a poser....much closer to my kind of people to rub shoulders with...my wife agrees...

 

[jimfro]

Emotion

THESE CARS ARE ABOUT ONE THING ONLY EMOTION!!! THEY SPEAK DIRECTLY TO YOUR SOUL.

 

[eshrink]

Ah, but do they necessarily speak in CAPS?

- doc

 

[SteveA]

NOT ONLY IN CAPS GOOD DOCTOR, BUT MUCH OF THE TIME MINE CAN'T SPEL EITHER.

 

[eshrink]

Steve:

Jim said that the GT speaks directly to one's emotions. He did not specify the emotion, and I hope that it was not rage or grief.

Unfortunately, my GT spoke more to my banker than to my emotions.

- doc

 

[jimfro]

Rage & Grief

I feel rage that Ford is dropping the car, and I feel grief that I have only one.

 

[eshrink]

Jim...Jim...Jim:

You cannot have both rage that the prices are dropping and grief that you cannot have yet another one, for truth be known, the further they drop, the more probable that you can afford a second one.

So, in conclusion, it would be better to feel great joy that price drop with the goal of their reaching $11,500 by year's end so that you can have at least one more.

Seriously, I believe that the prices have to drop for awhile. I personally believe that the drop will be substantial and extended before it rebounds.

In the interim, try to enjoy it for what it is today...something that makes your CAPS key in upright and locked position.

- doc

 

[SuperB]

They are not Dropping the car, the production cycle ended. :willy

 

[bigdan40]

Hey Doc, what do you think about my theory?

1. Ford built too many too fast therefore lost the initial leg up they had at the beginning with supply and demand! The drop off in price is directly related to the flooding of the market with the GT. You can bet pricing will stabilize very soon, probably within 3 to 6 months after the build stops.

2. Even though 4000 cars sounds like a small number, it's not. This is a very exclusive market and my assumption is that MOST of the people who could afford this car can afford any car therefore it comes down to more of a purist or enthusiast buyer rather then some rich guy who might not be as interested in the history and heritage of the GT or just doesn't buy it because it's not the most expensive.

3. Then you simply have passion! I love how many guys on this site are so sincere about this car. It seems that everyone truly relates to the GT like it's their kid or sibling or parent and has the utmost appreciation and respect for what it is. Quite a few guys during this thread have mentioned the snob or look at me attitude because they have a Ferrari. Personally I would bet that all the guys that own a GT react the way I do when I'm being hounded about the car, with the enthusiasm of a little kid explaining his first base hit or first basket made. People appreciate that and when they realize you are approachable and want to talk about the car and not the fact that you own it, they warm up like old friends rather then be keeping a distance.

Just my thoughts Doc, am I crazy???

Dan

 

[AtomicGT]

You ROCK LEMANSZ :cheers , see you on Sunday, we'll look for some of them little red stallions on the PCH on our way to Santa Barbara!

Maybe the So Cal Ferrari Club will be out cruising the PCH and the SM Mountains on the 27th. That will be a time for a good middle finger jester and a few laughs!

 

[Cyclenirvana]

In this forum are many former Ferrari owners and many of us who test drove Ferraris prior to our purchase. A friend of mine, an owner of a F355, told me to "buy the car that turns you on." For me and most of you this was the GT. I recently took this car to VIR and the number of people interested in it was amazing. There were several C6 Z06s and 2 Ferraris (348 and 360 CS) but there was only one Ford GT...mine!! The downside...I parasite onto other car clubs because there are so few of us. Local corevette club ok but most members were considerably older and bragged about how much gas mileage they were getting. Huh??? So, the Ferrari club seemed the best fit for me (car enthusiasts and track events) and my GT...joined the FCA and participate in many events with the local NC chapter...I find Ferrari owners as varied as any other group. Some are pure car enthusiasts, while others can't tell the difference between a 308 and a 355. Why Ferraris retain such value is unknown to me? Supply and demand certainly is part of it. But, as others have pointed out, if you put >15K on one, it will heavily depreciate it. But who cares...I just cannot wait for the next track event!!!

 

[jimfro]

Why I have a GT

I am one of the lucky ones who was around when the GT40 ran at Sebring in the 60's. I was 18 and in love with the most beautiful car I had ever seen. I had to wait 40 years for my first date with a GT and though I don;t drive like I would have then, it still brings forth that rush I had so long ago. I am sure this same type of feeling is what had inspired most people to want this car. I am well aware the are people on this forum who can afford any car they desire for what ever reason they chose for me it is still the coolest looking and driving car I have ever had the pleasure of operating. I make a living working on really fast airplanes, which I also enjoy flying however only the P 51 Mustang give me the same rush as this car. :thumbsup

 

[eshrink]

Jim:

Me too. Well, all except for the aviation mechanics part.

- doc

 

[bigdan40]

I am one of the lucky ones who was around when the GT40 ran at Sebring in the 60's. I was 18 and in love with the most beautiful car I had ever seen. I had to wait 40 years for my first date with a GT and though I don;t drive like I would have then, it still brings forth that rush I had so long ago. I am sure this same type of feeling is what had inspired most people to want this car. I am well aware the are people on this forum who can afford any car they desire for what ever reason they chose for me it is still the coolest looking and driving car I have ever had the pleasure of operating. I make a living working on really fast airplanes, which I also enjoy flying however only the P 51 Mustang give me the same rush as this car. :thumbsup

Jimfro, Great program last night on I believe TLC channel! It revolved around Jack Roush and his empire but also touched on his ownership of two P 51 Mustangs. They said the motor is 1650 cubes and is a 12 cylinder, sound correct or was I half asleep? Dan