Carrera GT's into secondary market?
03-22-2006, 10:36 AM
#1
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Thread Starter
Carrera GT's into secondary market?
Has anyone here been watching the secondary market for nicely kept Carrera GT’s that might have some miles/depreciation? Any ideas where to start looking?
It looks like there are still some new ‘05’s sitting at dealerships that could be purchased for a little over $400 (MSRP$448). I wonder what the real market is for a two year old car with a few thousand miles?
Thanks for any advice.
Mark
It looks like there are still some new ‘05’s sitting at dealerships that could be purchased for a little over $400 (MSRP$448). I wonder what the real market is for a two year old car with a few thousand miles?
Thanks for any advice.
Mark
03-22-2006, 12:24 PM
#3
Not in MA anymore
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Out here in MA a new one just sold out of a dealership for $375 - ouch...
03-22-2006, 05:03 PM
#4
Three Wheelin'
Originally Posted by redcar1
Has anyone here been watching the secondary market for nicely kept Carrera GT’s that might have some miles/depreciation? Any ideas where to start looking?
It looks like there are still some new ‘05’s sitting at dealerships that could be purchased for a little over $400 (MSRP$448). I wonder what the real market is for a two year old car with a few thousand miles?
Thanks for any advice.
Mark
It looks like there are still some new ‘05’s sitting at dealerships that could be purchased for a little over $400 (MSRP$448). I wonder what the real market is for a two year old car with a few thousand miles?
Thanks for any advice.
Mark
this is u.s. dealer availability:
2- Fayence Yellow
4- Guards Red
4- Black (2 with Terracotta, 2 with Natural Grey)
3- 98 non-metallic color to sample (1- I think is Carrera white, 1- a ferrari red color, 3rd- not sure)
4- Basalt black
62- Carrera GT silver
total of approx. 79 new 2005 cgt's at dealers.
and houston has more than any other single u.s. city with 6 on the floor (7 until one sold last week) of the two sonic automotive owned dealerships.
from what i've seen you should be able to purchase a like new under 1k miles in the 325k range.
new models of course depend on the dealers willingness to deal but i've heard they can be had for (edit) under 400k
my guess is that this is the price at which the dealer can recover the floored amount but makes no profit.
for a car of this calibre these prices represent a great opportunity.
Last edited by icon; 03-23-2006 at 04:16 PM.
03-22-2006, 07:24 PM
#5
Instructor
Thread Starter
Fascinating. I would never have guessed that there were so many 2005's still in dealer stock? With 79 '05's what about '04's? All gone?
At $360 or so, an untouched new car has some appeal. Do you happnen to know where the 3rd color to sample car is? Could it be blue?
Definitely becoming a buyer's market, just a matter of how long to wait.
Thanks a million.
Mark
At $360 or so, an untouched new car has some appeal. Do you happnen to know where the 3rd color to sample car is? Could it be blue?
Definitely becoming a buyer's market, just a matter of how long to wait.
Thanks a million.
Mark
Originally Posted by icon
are you looking to purchase?
this is u.s. dealer availability:
2- Fayence Yellow
4- Guards Red
4- Black (2 with Terracotta, 2 with Natural Grey)
3- 98 non-metallic color to sample (1- I think is Carrera white, 1- a ferrari red color, 3rd- not sure)
4- Basalt black
62- Carrera GT silver
total of approx. 79 new 2005 cgt's at dealers.
and houston has more than any other single u.s. city with 6 on the floor (7 until one sold last week) of the two sonic automotive owned dealerships.
from whit i've seen you should be able to purchase a like new under 1k miles in the 325k range.
new models of course depend on the dealers willingness to deal but i've heard they can be had for as low as 360-365k.
my guess is that this is the price at which the dealer can recover the floored amount but makes no profit.
for a car of this calibre these prices represent a great opportunity.
of course nick on the other hand states that you will be able to purchase a like new cgt for 220k in about 11 months!
i attempted to get him to put his money where his mouth is but of course he declined!
this is u.s. dealer availability:
2- Fayence Yellow
4- Guards Red
4- Black (2 with Terracotta, 2 with Natural Grey)
3- 98 non-metallic color to sample (1- I think is Carrera white, 1- a ferrari red color, 3rd- not sure)
4- Basalt black
62- Carrera GT silver
total of approx. 79 new 2005 cgt's at dealers.
and houston has more than any other single u.s. city with 6 on the floor (7 until one sold last week) of the two sonic automotive owned dealerships.
from whit i've seen you should be able to purchase a like new under 1k miles in the 325k range.
new models of course depend on the dealers willingness to deal but i've heard they can be had for as low as 360-365k.
my guess is that this is the price at which the dealer can recover the floored amount but makes no profit.
for a car of this calibre these prices represent a great opportunity.
of course nick on the other hand states that you will be able to purchase a like new cgt for 220k in about 11 months!
i attempted to get him to put his money where his mouth is but of course he declined!
03-22-2006, 10:57 PM
#6
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It's my understanding dealer cost on an 05 CGT is 425K less the holdback it's about 413K. Unless Porsche has offered incentives to dealers I would think the dealers are willing to lose a great deal of money when selling a new 2005 CGT at 375K or less which seems highly unlikely to me? It's also my understanding the floorplan costs are about 5K a month on the CGT.
Just my two cents.
Just my two cents.
03-22-2006, 11:43 PM
#7
Three Wheelin'
Originally Posted by Les Quam
It's my understanding dealer cost on an 05 CGT is 425K less the holdback it's about 413K. Unless Porsche has offered incentives to dealers I would think the dealers are willing to lose a great deal of money when selling a new 2005 CGT at 375K or less which seems highly unlikely to me? It's also my understanding the floorplan costs are about 5K a month on the CGT.
Just my two cents.
Just my two cents.
but a 5.2% margin and a 2.6% retail holdback seem quite small.
i've seen retail margins of almost 12.5% on 911's.
if that were true of the cgt the cost figure before retail holdback would be closer to 393k.
dealers treat flooring as an expense and not a cost added to the unit.
but porsche must be offering some incentives because i have seen prices under 400k for a new 2005 unit.
also have heard of very low mileage units (under 500) going for a good bit less.
Last edited by icon; 03-23-2006 at 04:43 PM.
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03-23-2006, 12:00 PM
#8
Rennlist Member
If there are 79 for sale at dealerships anyone have an idea how many are for sale with private owners? Assuming another 70 that would put the number of CGT's for sale at around 150 in the US. Since about 600 have been delivered to the US, the number for sale is 25%. Incredible for a supercar.
Recently a Enzo with 5800 miles sold for $975,000 and it was considered a steal at that price. Porsche has made a mess of this car.
Recently a Enzo with 5800 miles sold for $975,000 and it was considered a steal at that price. Porsche has made a mess of this car.
03-23-2006, 12:16 PM
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I am certain about the 425K dealer cost and somewhat less certain about the holdback but my estimate is pretty close. My info comes from the owner of a Porsche dealership who at one point organized a CGT NA boycott in 2003 when the low profit margins were announced and the sales price raised 100K by Porsche. This was a national boycott not to accept CGTs in NA which fell apart when a south Florida dealer decided to buy the CGTs.
Nick,
Didn't that ebay 975K Enzo have a new engine installed after the factory original one needed replacing at about 5000 miles and aren't the Enzo engine problems and subsequent engine replacements getting pretty common? Seems unusual for Ferrari me thinks?
BTW can you help me get a 599GTB that is one incredible car, it would be my first Ferrari?
Nick,
Didn't that ebay 975K Enzo have a new engine installed after the factory original one needed replacing at about 5000 miles and aren't the Enzo engine problems and subsequent engine replacements getting pretty common? Seems unusual for Ferrari me thinks?
BTW can you help me get a 599GTB that is one incredible car, it would be my first Ferrari?
03-23-2006, 03:37 PM
#10
Rennlist Member
Originally Posted by Les Quam
I am certain about the 425K dealer cost and somewhat less certain about the holdback but my estimate is pretty close. My info comes from the owner of a Porsche dealership who at one point organized a CGT NA boycott in 2003 when the low profit margins were announced and the sales price raised 100K by Porsche. This was a national boycott not to accept CGTs in NA which fell apart when a south Florida dealer decided to buy the CGTs.
Nick,
Didn't that ebay 975K Enzo have a new engine installed after the factory original one needed replacing at about 5000 miles and aren't the Enzo engine problems and subsequent engine replacements getting pretty common? Seems unusual for Ferrari me thinks?
BTW can you help me get a 599GTB that is one incredible car, it would be my first Ferrari?
Nick,
Didn't that ebay 975K Enzo have a new engine installed after the factory original one needed replacing at about 5000 miles and aren't the Enzo engine problems and subsequent engine replacements getting pretty common? Seems unusual for Ferrari me thinks?
BTW can you help me get a 599GTB that is one incredible car, it would be my first Ferrari?
Last week I visited my Ferrari dealership of which I am a VERY good client. When the subject of the 599 came up I was told that the dealership had no idea how many 599's allocation they would have for this year. They thought they would be lucky to get one delivered before the end of the year.
They know I am not a front engine guy because I turned down early 612's and the Superamerica. I told them as of now I have no interest in the 599. But honestly if I did, I believe there are a couple of individuals who would be ahead of me. As is always the case with a new Ferrari, it is like trying to find teeth in a chicken.
03-23-2006, 05:35 PM
#11
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From most of the reviews and tests comparing the GT and the Enzo, the GT has been equal to or or greater than in performance to the Enzo.
So why is the Enzo maintaining such demand at such a high price and the GT is not??
So why is the Enzo maintaining such demand at such a high price and the GT is not??
03-23-2006, 06:12 PM
#12
Three Wheelin'
enzo's built = 399
cgt's built = 1,111
ferrari's are not built until someone buys them.
even then they don't fill all the orders they get.
but people with both the enzo and the cgt do seem to prefer the cgt for performance.
cgt's built = 1,111
ferrari's are not built until someone buys them.
even then they don't fill all the orders they get.
but people with both the enzo and the cgt do seem to prefer the cgt for performance.
03-24-2006, 12:53 AM
#13
There is about 8 of them between two Porsche dealerships about 40 miles apart here in S. Florida. They are not dealing much on them which is why they are still there.
I doubt there are many dealers still getting full MSRP for them at this time.
I doubt there are many dealers still getting full MSRP for them at this time.
03-24-2006, 09:03 PM
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Originally Posted by icon
enzo's built = 399
cgt's built = 1,111
ferrari's are not built until someone buys them.
even then they don't fill all the orders they get.
but people with both the enzo and the cgt do seem to prefer the cgt for performance.
cgt's built = 1,111
ferrari's are not built until someone buys them.
even then they don't fill all the orders they get.
but people with both the enzo and the cgt do seem to prefer the cgt for performance.
Enzo's built: 400 (number 400 was the car for the pope, which was auctioned for Katrina victims last year)
Carrera GT's built: 1250, last car will be delivered next month.
03-24-2006, 10:12 PM
#15
Three Wheelin'
Originally Posted by netburner
Enzo's built: 400 (number 400 was the car for the pope, which was auctioned for Katrina victims last year)
Carrera GT's built: 1250, last car will be delivered next month.
Carrera GT's built: 1250, last car will be delivered next month.
One Porsche customer in the United Arab Emirates has received a special present this year:
Stuttgart-based Dr. Ing. h. c. F. Porsche AG has delivered to the customer a Carrera GT bearing the number 1,111.
With this milestone, the 612 hp, 330 km/h Carrera GT is now the most successful high-performance sports car of all time.
The last unit of this exceptional vehicle will leave the Leipzig plant in April 2006.
the way it reads the 1,111th unit could be construed as the last unit that was being delivered in april 2006!
thanks for the clarification!
do you know if any more of the remaining units are headed to the u.s.a.???