Really hard to set the market average based on 1 sale though. I also watch the market, and I’m just not sure. We are at an interesting point right now, where sellers are holding, and buyers are holding. At some point we all know what needs to happen, and that’s the price needs to come down, but when? That price is crazy though 425k Damn.
I offered a guy on here 360k for his SV roadster and quite frankly I’m glad he said no. I make impulsive offers on cars probably 3x a week and they are always pretty fair offers, but sellers are hard headed(I would know, I’m the worst of them all lol.)
I just started watching the market as well and the few SV coupes I've seen for sale at roughly $370k asking have sold fairly quickly. As a potential buyer I would be tempted at $350k and $325k would obviously be even better. But just from my short window of data it seems there are buyers grabbing them up when they are near the $370k ask. I'd love to know what they are actually selling at though. But of course being the start of summer season maybe that's not all unusual. I should probably hold off on my search until fall as I can enjoy my SL for another full summer at least as I love that car as well! Maybe by then they really will be at $325k as I find it hard to imagine sellers are knocking off that much from the current listed prices.
I have been following listings as well. A few low priced cars have moved pretty quickly but most cars are sitting. Not a lot of sales. As more and more cars age, sellers will start to realize they have to come down to move the car. I have noticed the aventadors sitting as well but prices are not moving much.There seems to be an imbalance between asking prices and buyers willingness to pay those prices. The inevitable result is for prices to drop to reflect what buyers are willing to pay . Market prices in all high end goods are driven by what buyers are willing to pay, not what sellers want. Unless the car is extremely rare and collectible by someone that price does not matter most cars are subject to these forces. I remember well 2008,2009 and 2010. We started out holding the line on prices but eventually gave way to price cutting when the realization sunk in that it was not going to sell for that price. It takes a while. I think patience will yield very handsome results. Look at the amount of time most of the cars have been for sale .Totally opposite from last year. Lee
There is still broad faith that this will bounce back. . I pray it will. There is one very unexpected outcome of all the protests. All the protesters have thrown social distancing out the window. If there is not a huge spike in cases in the next two weeks then it will prove that all this has been a waste of time and jobs. How ironic that the unnecessary death of a poor black man could lead to the end of the corona pandemic scare. What is really strange is that the areas that have the most draconian corona restrictions. This is probably also due to all the pent up frustration being vented. I think there are way too many buyers and sellers sitting the fence waiting on a direction of the economy. There is simply not enough pressure for sellers to start the cascade of price cutting. If the economy shows signs that recovery will be slow and long, I think prices will drop quickly so sellers cut their losses. If on the other hand, we start recovering and corona fears wane then prices will hold. Only time will show the outcome. I don't really expect much movement until unemployment numbers start to paint a more realistic picture. I still think we will see some good drops but it takes time and pain for sellers to start dropping. No one wants to dump a car they are in love with. When it comes to closing the business or selling the lambo, sorry but bye bye business LOL. Either sellers must be forced to sell or conditions make them sell to avoid greater losses in the future.Late August should start giving some answers. Lee
Your post is premature. The economy is still running at what, 25% of max at best? There were absolutely a lot of low priced sales in March/April. Cars priced well are moving, those that aren't, aren't. Do you really believe that peoples interpretation of the current economy or biased opinion on it's ability to recover are true indicators of where we're at or what it will be? The fact of the matter is most of us on here can afford the cars at the current price, or higher or lower than they are now. Those of us that understand economics understand that it is inevitable that we will see a price correction, and not just on cars, but on everything. We've pumped trillions into the economy, a lot of businesses haven't opened, those that did aren't doing much business, so to not think there will be a change is shortsighted. To think the stock market won't correct its self is also shortsighted. The one thing I do believe is that we'll have a big rebound on unemployment, but I genuinely believe we aren't even close to the aftermath.