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Hey guys, long time lurker over here.

I've been coming extremely close to purchasing a used 720s, however with the recent downturn of the global economy I've been having second thoughts. Thankfully, I believe all my streams of income and assests are in the clear for now, but I was more concerned with how the reverberating decline of the current economic climate (due to Covid 19, travel bans, stocks, commodity value etc.) would impact future values for these cars (and perhaps the exotic car market as a whole).

Would waiting a few months/a year yield exponentially more fiscal beneficiality in terms of discounts and depreciation?

Thank you in advance,

Khan

(P.S. The 720s I am currently eyeing is a bare bones performance model (no options at all....not even a backup camera or lift kit) with 1200 miles. I've negotiated the price down to $196,000 USD...)
 

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If you get an answer let me know what the lottery numbers will be. Not sure how anyone would be able to predict this as we are in uncharted waters that have not been seen before. The market is changing daily and I’m not sure any financial expert can predict what the future will be. (Probably safe young assume that everything is going to be affected) It’s tough enough to predict future value and depreciation in a regular market. With that being said why would you wait. Life is too short so go buy it and enjoy it today!!! If your gone tomorrow what good will waiting do?
 

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Sounds like a bad deal for an absolute zero option car. I don't even know how that car got produced. I've never heard of such a barebones cares.

The price of the 720S will go down from today forward. How much it goes does is simply based on how bad this virus thing gets. I assure you that exotics are not going up in price while global stock markets shed 5-10% on a daily basis.
 

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If you get an answer let me know what the lottery numbers will be. Not sure how anyone would be able to predict this as we are in uncharted waters that have not been seen before. The market is changing daily and I’m not sure any financial expert can predict what the future will be. (Probably safe young assume that everything is going to be affected) It’s tough enough to predict future value and depreciation in a regular market. With that being said why would you wait. Life is too short so go buy it and enjoy it today!!! If your gone tomorrow what good will waiting do?
I guess I was hoping for individuals who have been in the exotic market for longer than I to comment. Economic downturns due to viruses have been a recurring theme in the past (i.e SARS) and I was wondering how exotic car values fluctuated during similar time periods.
 

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Sounds like a bad deal for an absolute zero option car. I don't even know how that car got produced. I've never heard of such a barebones cares.

The price of the 720S will go down from today forward. How much it goes does is simply based on how bad this virus thing gets. I assure you that exotics are not going up in price while global stock markets shed 5-10% on a daily basis.
Really? And here I thought it was a good deal lol...bare bones for sure, will be hard to resell as well....but it is a 2019 with only 1200 miles for $196k. At what price would you consider purchasing it at?
 

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Really? And here I thought it was a good deal lol...bare bones for sure, will be hard to resell as well....but it is a 2019 with only 1200 miles for $196k. At what price would you consider purchasing it at?

If you are able to spend $196K, you should be able to spend $230K or so and find the right car. Its super cheap for a reason. Now if you were going to track it then that's another story. What is the MSRP on the car?
 

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If you are able to spend $196K, you should be able to spend $230K or so and find the right car. Its super cheap for a reason. Now if you were going to track it then that's another story. What is the MSRP on the car?
I honestly am not very picky when it comes to specifications...all I really wanted was the active lift to mitigate scrapes and damage....
Please note the attached document lists price in CAD!

The vehicle was a lottery car that was won, however the owner is now looking to sell the vehicle for cash. Perhaps that's why it was originally ordered as a bare bones spec.
 

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If the economy tanks I think we will find many markets that have been expanding for many years will contract. These include both sports cars and exotics but also watches where well-off middle class have increased the market. The number of models (and actual cars) are high so when the market stops growing I think prices will fall, and even more so if the market shrinks. I personally think you could get a great discount now, and if not wait for prices to drop after the summer.
 

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I guess I was hoping for individuals who have been in the exotic market for longer than I to comment. Economic downturns due to viruses have been a recurring theme in the past (i.e SARS) and I was wondering how exotic car values fluctuated during similar time periods.

"Past performance does not guarantee future results" can be applied to Covid-19 vs the 2003 Coronavirus. The freakout happening now is unlike anything that's ever happened in the world. I'm with you on barebones cars if they are cheap enough. I like to drive and show has nothing to do with it. The $196K you negotiated was probably too much last week given the spec. Today it is for sure too much, and tomorrow maybe WAY too much. It's ugly out there.
 

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I honestly am not very picky when it comes to specifications...all I really wanted was the active lift to mitigate scrapes and damage....
Please note the attached document lists price in CAD!

The vehicle was a lottery car that was won, however the owner is now looking to sell the vehicle for cash. Perhaps that's why it was originally ordered as a bare bones spec.

The choice is yours then. Regardless what you what buy it will depreciate but int his case it may be harder to sell down the road.
 

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I honestly am not very picky when it comes to specifications...all I really wanted was the active lift to mitigate scrapes and damage....
Please note the attached document lists price in CAD!

The vehicle was a lottery car that was won, however the owner is now looking to sell the vehicle for cash. Perhaps that's why it was originally ordered as a bare bones spec.
the problem with bare spec cars is that not only them but also the higher spec ones loose value at about the same % ... meaning if you wanna sell again you also need to be considerable cheaper or potential buyers will always go for a better car at near similar prices ... and at future prices of 180-250 usd for many used 720s besides the very high spec and unique color ones in a year or two most ppl won't mind paying 5-10k more to get a car that more like what they want and has most options they are looking for ... at -20 to -25k that might look a bit different but not below such sums
 
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the problem with bare spec cars is that not only them but also the higher spec ones loose value at about the same % ... meaning if you wanna sell again you also need to be considerable cheaper or potential buyers will always go for a better car at near similar prices ... and at future prices of 180-250 usd for many used 720s besides the very high spec and unique color ones in a year or two most ppl won't mind paying 5-10k more to get a car that more like what they want and has most options they are looking for ... at -20 to -25k that might look a bit different but not below such sums
At what price would you consider to purchase it, that would be worth it?
 

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At what price would you consider to purchase it, that would be worth it?
for now I guess the price you have is not bad ... however you need to always consider that if you want to sell this car again you always will need to sell it over its price ... which means basically 20-25k less than a regular spec car ... not sure it’s worth it plus you might need longer to sell it bc ppl will not really look for bare bone specs
 

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Sit tight for the moment. There may well be a ton of these available as people decide it’s not smart for them to keep these cars with changing circumstances.
 

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I don't know what will happen to the 720S market specifically, but to those who are predicting the permanent collapse of the exotic car market overall, I would point out that we were in a similar position twelve years ago during the financial crisis and, after a year or two of turbulence, we entered the greatest bull market for luxury goods and 'collectibles' of the last 200 years.
 
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