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Bubbles (archive)
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Posted by Z8 Bob on April 14, 2000 at 21:52:03:

In Reply to: Buying & Pricing.....Part II posted by Jeff K. on April 13, 2000 at 22:31:59:

I agree with you. Any market can get overheated. Artwork and exotic cars are always the first to suffer in a down market. If you speculate, you can get burned in what ever: Stocks, cars, diamonds, or tulips (for you Dutch history "bubble" buffs). So be prudent and don't pay more than you can afford to lose, or more than it is worth to you, for the experience.

: Yes,high markups over list price is in part due to small supply and large demand. This is true not only for Z8, but also for Ferrari Modena and new Porsche Turbo. And, to a lesser extent on Mercedes CL500, BMW M5/M3,Honda S2000,etc. But, I also think the tech sector of the stock market is/was also driving the market for both cars and high end real estate. Any prolonged bear market and slow down in the economy will impact pricing in this very narrow market niche. History is the best teacher. The $125k Ferrari Testarosa sold for over $300k in the late 80's. Some of us remember what happened next.



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