[Lambo2018]

I have been tracking several preowned car prices over the past couple of months and have started to notice a downward price adjustments on some of the car buying sites. After seeing what appears to be a new trend, I searched the topic and the answers ranged from yes, no and maybe. Hardly a definitive or conclusive search, and to be clear, I am aware of the issues at hand, supply constraints, low preowned inventory, increased car buying craze, etc.
My question is very specific, that is, in your recent searches have you noticed preowned car pricing to be on a downward trend?
I have also noticed a few other things cars that are priced a tad high are just languishing on the car buying sites plus preowned cars are taking a bit longer to sell.
Thoughts, observations?

The high prices of used cars may finally be dropping: Sonic Automotive president

 

[Luzifer]

For me the answer is a BIG NO! I've been looking at Huracans for over 2 years, In my plan I was going to start pre shopping this winter. Before the pandemic I had constantly a choice in my budget of 3-4 cars under 250K (215-240K range). These cars on average sold within 2-3 months I even took snap shots every month of the listings in a file. All these cars are now sold, when the hike started I realized the listings under 250K disappeared within 5 days to a maximum 2 weeks! I've stopped taking snap shots because nothing right now is under 250K over the past year other than 1-3 that dipped below but the weird thing they put the ad stating it was sold WTF? Why put an ad the car is sold, they just want to advertise the company name? Only one car stayed for sale for 6 weeks(220K) and now the listing states sold for the past month and a half.

There's only 4 H in the entire country near the 250K mark
The rest are 267K, 280K, up to 320K

I doubt the bubble will burst up here.

 

[Lambo2018]

I think there are many makes and models out there and as they go so, eventually will go all the marque brands.

 

[goldlifter]

Certain cars are “hotter” than others but days on market is increasing from the blistering pace that was this summer which is signaling a slow shift. I would expect the collector car market will have a strong showing this winter/spring at the major auctions

 

[Huratan]

This is for Huracan prices: Lamborghini Huracan Price Trends - CarGurus

 

[keeperdean]

It’s just the typical winter slump. Wait until spring. Prices are going to jump significantly. Happens every year.

 

[Russk]

Prices will fluctuate but I don’t think they’re going back to normal anytime soon.

 

[Lambo2018]

This is for Huracan prices: Lamborghini Huracan Price Trends - CarGurus

I would agree, at present time, the marque brands are holding relatively steady but this too shall change.

 

[Rcasa20]

I saw @Jr Mint dropped the price of his beautiful Viola Performante so using a sample of 1 it appears prices are coming down in that market.

 

[Lambo2018]

I saw @Jr Mint dropped the price of his beautiful Viola Performante so using a sample of 1 it appears prices are coming down in that market.

Sample size of "1" is somewhat statistically insignificant, now a sample size of "2" and you're home free.

 

[Huratan]

I saw @Jr Mint dropped the price of his beautiful Viola Performante so using a sample of 1 it appears prices are coming down in that market.

It could just be the time of the year with less folks shopping for these cars at the start of winter.

 

[Jr Mint]

I know I am asking the absolute top of the market for my car and that’s because It’s the rarest spec. I had it sold for my original price but didn’t let downers grove sell it since they were playing games with my allocations. Anyway, it’s winter now and I think all prices in general are softening a little like they do every year. Perhaps this year not as drastic but winter definitely always brings down prices of sport/exotic cars a little. Season didn't have an effect on my decision, I just am leaving for PR soon for about 5 months and when I arrive taking delivery of some new cars so she’s ready to go now.

 

[Billionaires]

The same thing is happening to other luxury goods. Luxury watch brands have also spiked up.

 

[Huracaan]

For me the answer is a BIG NO! I've been looking at Huracans for over 2 years, In my plan I was going to start pre shopping this winter. Before the pandemic I had constantly a choice in my budget of 3-4 cars under 250K (215-240K range). These cars on average sold within 2-3 months I even took snap shots every month of the listings in a file. All these cars are now sold, when the hike started I realized the listings under 250K disappeared within 5 days to a maximum 2 weeks! I've stopped taking snap shots because nothing right now is under 250K over the past year other than 1-3 that dipped below but the weird thing they put the ad stating it was sold WTF? Why put an ad the car is sold, they just want to advertise the company name? Only one car stayed for sale for 6 weeks(220K) and now the listing states sold for the past month and a half.

There's only 4 H in the entire country near the 250K mark
The rest are 267K, 280K, up to 320K

I doubt the bubble will burst up here.

If rates go up and RE starts slowing markets like Vancouver, Toronto and even Calgary means less money to spend on toys which will impact the supercar market.

And a lot of the high priced H's are sitting and surprisingly Perf prices have flatlined. I was expecting Perf coupes to hit $400k+ CAD but they're hovering around what prices were around last summer.

 

[Luzifer]

If rates go up and RE starts slowing markets like Vancouver, Toronto and even Calgary means less money to spend on toys which will impact the supercar market.

And a lot of the high priced H's are sitting and surprisingly Perf prices have flatlined. I was expecting Perf coupes to hit $400k+ CAD but they're hovering around what prices were around last summer.

Here in the city the real estates was total madness, it even trickled down to my business and I witnessed first hand the effects it created, people getting into bidding wars, people not even inspecting houses in order to buy them. One guy was so fed up of getting offers he just wanted to sell it now. What it did though to many who didn't have them inspected got a rude awakening with diy fubar work that failed as they moved in.

If it has an effect on toys I don't know, I doubt it because the news stated 75% of people made more money because of covid. People working from home not having to pay for parking and fuel, no restaurant expenditures at work, clothing etc. Many customers told me they sold their second car because they are permanently working from home now, not because they needed the money but they no longer need to drive to work.

What I see that has crashed are restaurants, bars, food outlets like small bakeries, pastries and such.

 

[Lambo2018]

What I see that has crashed are restaurants, bars, food outlets like small bakeries, pastries and such.

Agree about the restaurants and other food outlets. My wife and I have not gone to the River Walk in San Antonio Texas for over two years and were a bit surprised to see that mid-day on a Saturday with nice weather it was somewhat deserted. Many of the local shops were closed and the River Walk restaurants were not doing terribly good business. We then went to a restaurant in town that is usually packed on a Saturday around lunchtime and that too was not doing such great business either. Other observation, the restaurant help, specifically the servers were not of the highest caliber. It was, to say the least, disturbing. I am concerned and curious to see where the economy winds up when the dust settles post-COVID.

 

[Luzifer]

Agree about the restaurants and other food outlets. My wife and I have not gone to the River Walk in San Antonio Texas for over two years and were a bit surprised to see that mid-day on a Saturday with nice weather it was somewhat deserted. Many of the local shops were closed and the River Walk restaurants were not doing terribly good business. We then went to a restaurant in town that is usually packed on a Saturday around lunchtime and that too was not doing such great business either. Other observation, the restaurant help, specifically the servers were not of the highest caliber. It was, to say the least, disturbing. I am concerned and curious to see where the economy wind up when the dust settles post-COVID.

There's a TV show here, bankruptcy firms where they record real people coming in with their debts and either they file for bankruptcy or do a lowered repayment plan to creditors. A lot of restaurants filed for bankruptcy because of the closure of non essential businesses. There was also the problem with the labor shortage, what's stupid the news constantly talking about it they never said why, the reason why is our government paid out 2000$/month for each person to stay at home. People didn't want to go back to work and thus many more businesses closed for good. Heck even dentists were under lock down (except emergencies), one of them got repoed!

 

[Lambo2018]

This discussion may seen off topic but it's not. The economy and the universe that is the car world are inextricably interwoven and the health of one is dependent on the health of the other.
As an aside, my home has more than doubled in value..........but, I wonder, is it real or is it memorex. 🤷‍♂️

 

[topcarbon]

So everything is more expensive
You want to sell? To do what?
Buy?
There is an advantage if you have assets to sell and do not want to replace them.
Prices will remain high as long as people buy at the price.
Personally, I don’t have anything to purchase and I have no debt. I’m not lookto sell anything either
How boring

 

[Lambo2018]

As it relates to cars, I am not adverse to buying when I can buy new at MSRP.