GTTROIS

Agree. A N=1 does not make this a trend just yet. And are there still some people who are impatient and naive? Sure!
But is this going to be the norm? I doubt it.

JAB12

Seller lifted the reserve at $250K and posted it. That was a smart move.

G.Irish

Looks like an indie dealer bought it for flipping. Also kind of interesting that it was a 2 horse race from about 235k.

usctrojanGT3

An indie dealer is going to try to flip it for over $100k? They better have a buyer ready to go because otherwise they'll be sitting on the car for a while.

G.Irish

All the flippers are listing cars at $300k or more so maybe this dealer figured they could score $20k with this flip.

Zero757

So it‘s $280k PLUS auction fee PLUS tax? Wow!

gt3dude

Crazy got 100k over and 185k is by no means a loaded car.

curious to know how the 210-225k cars will do.

coss1600

Are these flippers all businesses or dealers. Sales tax will eat into half the profit? I guess there is montana

usctrojanGT3

If they are a licensed dealer they don't have to pay sales tax.

Diablo Dude

The 10 year yield is over 1.85% which is a 2 year high.
Retail sales were down 1.9% last month and Consumer Confidence is collapsing.
The "bubble" is popping.

PTS

LOL

chance6

You are not wrong...3-6 months from now we could be looking at a different picture.
Just don't stare at Kamala's neck for too long. lmao

Diablo Dude

Like I said, the bubble is popping.
SPX has lost nearly 300 points in just 5 days.
No one wants to be around for rate hikes or a War.

AlexCeres

meh. The rate hikes under discussion are vastly too small to materially impact the GT car income bracket, and Ukraine getting annexed won’t materially effect either the US or Chinese economies. A lot of short term volatility no question. Take some profits, hedge some positions, sure. A 2008 style unwinding is neither likely nor desirable. The bubble popping makes everybody poorer. A little ADM is better than watching your investments, retirement and house all collapse in value. Assuming you get to keep your job. 2008 really hurt a lot of people.

None of this changes the fundamentals of Porsche making 1 GT car for every 10+ people who want one. 1 car for 5 customers is still the land of ADM and allocation games.

PTS

Agreed. Volatility is coming. What precisely is meant by a bubble "popping" ? What's in the "bubble" ? It's not difficult to find a few variables that support an incoming correction, but I don't think that auto translates to GT car buyers to stop buying GT cars and the excessive lists at dealerships to disappear or drastically shrink