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the cars lower in value every day so yeah waiting a few months would deffinately save yeah a few grand each month ya wait
damn bare bones no spec might sounds good now but would hold off on better spec if ya want
 

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Life’s short. Even more so now. There’s always a new toy around the corner to drive thing cheaper. Wait forever or jump in. If it’s a stretch. Get something else that won’t make you think so hard. Many toys at different price points.
 

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That cars from the West Ed lottery eh?

Thats a $270 K car max.

Some people just dont deserve to have these cars and sells it for cash even though they won the lottery.

Shame.
 

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Why would people such as lottery winners not "deserve to have these cars"?
i also think a Person with average income would have a lot of troubles to hold onto such a car once they have to pay the running costs out of their own pocket ... it’s Not like 15-20k including insurance and consumables are small change for most ppl ...
 

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I dint expect the luxury goods market to change much - you either have the cash or you dont. Dont expect any fire sales they are likely not coming. In fact this is a time to leverage the volatility in the market and make money so perhaps some become more liquid. Alternatively you can wait another year or so for better pricing because the car is aging.
 

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I dint expect the luxury goods market to change much - you either have the cash or you dont. Dont expect any fire sales they are likely not coming. In fact this is a time to leverage the volatility in the market and make money so perhaps some become more liquid. Alternatively you can wait another year or so for better pricing because the car is aging.
Of course fire sales will come ... it’s naive not to see that. Once Businesses will fight for survival (not unlikely in many areas like entertainment, hotels, restaurants, clubs, luxury retail, transportation, logistics etc ) their owners will capitalize their least needed assets (luxury cars, weekend homes, expensive jewelry, planes and boats ... all this stuff) to keep their business and sources of income floating ... having worked in wealth management just after Lehmann Bros in NYC I can assure you that is what will happen everywhere from China to the Hamptons ... only the scale of it is unknown and how long it takes to recover (could be months but more likely 1-2 years) ... the only exception from this is ppl who are extremely well off who will use the free liquity they always have (most ppl in the hundreds of millions to billions have 10-15% in cash positions at all times) to buy things cheap ...
 

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I dint expect the luxury goods market to change much - you either have the cash or you dont. Dont expect any fire sales they are likely not coming. In fact this is a time to leverage the volatility in the market and make money so perhaps some become more liquid. Alternatively you can wait another year or so for better pricing because the car is aging.
I think you’re greatly underestimating how many people live lavish lifestyles off of credit tied to business or market performance. Perhaps the market for $1m plus cars is insulated.
 

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I think you’re greatly underestimating how many people live lavish lifestyles off of credit tied to business or market performance. Perhaps the market for $1m plus cars is insulated.
I’m guessing the car enthusiasts that are high 8 fig or more will still buy. But the majority of the people who buy cuz they can prob won’t spend on a side hobby
 

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You do have a point there.

I just think there should be a rule for lottery cars, such as what you mentioned Chris, coverage by the lottery for 1 year insurance and maintenance and you cannot flip the vehicle until 1 year after.

If you won a lottery for a heart transplant and you're a healthy 30 year old individual, and you decide to sell your lottery ticket to someone in need for cash value. Why did you buy a lottery ticket for a heart transplant in the first place?

Might as well buy lottery for actual cash value instead of a supercar.

I'm just rambling.
 

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Many people live beyond their means and buy toys that they can't afford. I was talking to a luxury car sales person who related a story of a guy who put a Gallardo on 10 different credit cards to make the deal go through. Luxury goods will be the first thing to go especially when the exotic market had already started to collapse back in Oct/Nov of last year.
 

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Discussion Starter #32
That cars from the West Ed lottery eh?

Thats a $270 K car max.

Some people just dont deserve to have these cars and sells it for cash even though they won the lottery.

Shame.
Thank you for everyone's responses, I do believe that I will hold off of purchasing a 720s as of now (especially that bare bones one as it is going to be extremely difficult to sell/trade in later on). Going to wait several more months to see how this all plays out. Thank you.
 

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Many people live beyond their means and buy toys that they can't afford. I was talking to a luxury car sales person who related a story of a guy who put a Gallardo on 10 different credit cards to make the deal go through. Luxury goods will be the first thing to go especially when the exotic market had already started to collapse back in Oct/Nov of last year.
Seems to be the new normal since 10-15 years ... my dealer told me similar things and before when I was still often visiting the guys at the local Porsche dealer exactly same stories ...

In addition to this it also seems like many ppl who get these cars have kind of a high income but not really a big fortune ... some dealer told me that many of his cars are going into leasing Bc the ppl who want them simply cannot put the sum on the table Bc they need it in their businesses ...

unfortunately that becomes a big problem in the real estate market when ppl are entering into financing periods of 20-30 years based on their current earnings and prediction how this might develop ... that’s why every crisis relatively fast enters the real estate market now (especially the luxury real estate and single family home market) which is than amplified while values going down and the banks asking for more collateral when the value of the home becomes smaller than the lend sum ...
 

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I dint expect the luxury goods market to change much - you either have the cash or you dont. Dont expect any fire sales they are likely not coming. In fact this is a time to leverage the volatility in the market and make money so perhaps some become more liquid. Alternatively you can wait another year or so for better pricing because the car is aging.
History says otherwise. Just look at pretty much every other recession. I remember almost buying an LP640 in 2008 for $200K. Exotic car prices got destroyed during the recession.
 

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Good news, if you are liquid your buying power will increase 30-100% in the next 6 months and this bear market or recession (if it comes to that) should be fairly short lived as it was a true black swan event and not a systemic deficiency like 2008.

Extra good news. If you’re cash liquid and can wait a couple more weeks to start buying stocks, then you a few years down the road you will be a far richer person.
 

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Good news, if you are liquid your buying power will increase 30-100% in the next 6 months and this bear market or recession (if it comes to that) should be fairly short lived as it was a true black swan event and not a systemic deficiency like 2008.

Extra good news. If you’re cash liquid and can wait a couple more weeks to start buying stocks, then you a few years down the road you will be a far richer person.
Black swan event ? you realize that the production decline is real? Many companies will post far worse result this year than anticipated - Examples include all hospitality, all transportation businesses and a lot of manufacturing (e.g. Apple, VW, Ferrari and many many more), most Luxury retail in Asia (China is for many brands the strongest market under normal circumstances ) ... Insurances, Banking, Real Estate and so on will follow ... there is no black swan event but a very real loss in production and sales ...
 

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This certainly is a black swan event. These events are characterized by unpredictability and can have terrible consequences. 2008, (some) people saw coming because it was an actual and systematic deficiency in the way assets were valued and leveraged. A virus is different and certainly a virus released from a bioweapons facility. It can be just as devastating short term but benefits from a quicker recovery if that particular event can be dealt with.
 

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I think you’re greatly underestimating how many people live lavish lifestyles off of credit tied to business or market performance. Perhaps the market for $1m plus cars is insulated.
Maybe on a $100K Porsche but higher ticket items such as a 765 wont be affected. It also really depends on how this whole thing gets resolved and when.
 

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This certainly is a black swan event. These events are characterized by unpredictability and can have terrible consequences. 2008, (some) people saw coming because it was an actual and systematic deficiency in the way assets were valued and leveraged. A virus is different and certainly a virus released from a bioweapons facility. It can be just as devastating short term but benefits from a quicker recovery if that particular event can be dealt with.
you don't see the long term changes in your view of the market ... the disruption this brings can last for a longer time bc there were other external factors before (trade-wars, climate change discussion/policy, with companies needing to spend unusual amounts into R&D and so on ), which will be made worse by this ... also at the moment its fairly uncertain how long this virus mode will last (hopefully only some 2-3 months like in China) but it could also be much longer if it keeps jumping from one country to another and return later ...
 

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Maybe on a $100K Porsche but higher ticket items such as a 765 wont be affected. It also really depends on how this whole thing gets resolved and when.
why ? there are many ppl with garages full of cars who will start selling them off when their business are at risk ... you can survive pretty well if you only keep 2-3 if you now own 8 or more such cars ... additionally many 765LT would go to ppl with currently high income but not the free funds to directly buy these cars (these would cancel orders if they look forward to a 10-20% income decline or more bc for example bonus pools are smaller or sales targets no more hit) ... additionally still many buy not to drive but to think they can make money on a flip (these will also now think twice with falling values in the whole market) ... most LE cars like the LT don't exist in a bubble (this can maybe be said about cars like Ferrari 250 GTO/ Speedtail or Valkyrie, but not a car of which we will see 765 x2 examples) ...
 
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