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De-Value of Spyders?...

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ocamilo

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Discussion starter · #1 · (Edited)
Well as I'm sure most of you know these last few months have been some of the worst in American automotive sales history.

I purchased my 02 Spyder back in May of this year and it's already dropped in value almost $10k! When I say value, I'm referring to what the market is giving for them...any car right now, especially Maserati's are not selling anywhere close to their booked value. I know with any car as time passes they obviously loose value, but I didn't think I'd see this drastic of a drop!

Now I realize there are a few things to take into consideration here, like our crappy economy and the fact that auto lenders are being more stringent, not to mention it's the middle of winter and not many people want to buy a convertible (although it seems like for those planning ahead now is the time to buy).

I'm just wondering if you guys think the value is going to drop even more or if it will swing back around come spring/summer?

Currently, nice condition '02 Spyders with reasonable mileage are only fetching around $30k....this is a great drop from them selling for around $40k back in April/May.

I'm selling my '02 Spyder for $28,500 and have been having a tough time. I'm debating whether or not to keep it for a while and wait till spring to re-list it for sale in hopes that it will either fetch a little more or be easier to sell at my asking price (which I think is extremely competitive).

Based off of what some of you have observed with the seasonal market for these (I'm talking about eBay, AutoTrader, ect.) do you think I'm better holding off till warmer weather or will the value of these cars continue to drop?

Does anyone have any recommendations for selling it other than eBay or getting screwed by a dealer who will buy it at way under wholesale? Currently I have it listed on eBay, the Buy/Sell section on here, Craigslist in Dubai and AutoTrader...
 
#2 ·
It will definitely be easier to sell it closer to summer. Also, why don't you try listing on Kauai's paper? I'm sure it would be the only Maserati in Kauai and that's very appealing.

Good luck!
 
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#3 ·
I don't think the market is going to get better anytime soon. As you know, I just purchased an 02 Spyder for $26,000 with 25335 miles on it. Drove it back from Alabama to DC yesterday with no problems. Very clean car.

On the other hand, if you hold on to it, I think it will eventually appreciate in value. I purchased my Ferrari in a down market several years ago and it's worth almost double of what I paid for it although it took several years to realize it.

There was a super clean 02 coupe with 25,000 miles that sat on a local lot here for over a year. They lowered it to $29,000 OBO and still couldn't sell it. They finally ran it through the auction and took a huge hit.
 
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Discussion starter · #5 ·
Niteroi said:
It will definitely be easier to sell it closer to summer. Also, why don't you try listing on Kauai's paper? I'm sure it would be the only Maserati in Kauai and that's very appealing.

Good luck!
Click to expand...
I had it listed on Craigslist in Hawaii a couple months back for $34k. I had a few bites, but without the car physically being here I can understand why people are reluctant or weary. I can always ship it out here and then it'd probably sell, but then again it's a gamble and I'd still have to eat the cost of shipping.

Anyways, I'm pretty sure I'll have an easier time come spring time.

Hopefully as Powerpig suggested these cars will in fact appreciate in value over time. I think considering Maserati discontinued these (although they were high production cars) they will increase in value and demand over time.
 
#6 ·
I don't think the market is going to come back for quite a while. Definitely not by Spring. You have to consider the cost of keeping the car (insurance, registration, repairs, interest, etc.) versus taking a hit and being done with it. Plus you never know if the market will go down further- it is possible. I would sell it and move on. Put the money in a safe investment and make a few bucks. You just in an unfortunate ecomony but at least you havent been trying to sell your home for over a year like me. Anyone want some beautiful real estate in Maryland horse country??
 
#7 ·
I've been chewing on this thread for a while.

It's very interesting.

Here's my take.

When I got my Mas... the idea was to buy my car... then sell my Lexus SC430.

Then I was going to buy like a Prius or something.

I would use my Prius as my long distance car - and use the Mas for day to day stuff around town.

Thing was?

I bought my Mas for a great price.

But at the time - if I would have sold my Lexus - I would have taken a hit on it.

A huge hit.

I could have probably sold my used Lexus and got a new Prius.

But that's not enough for me.

I paid $65,000 for my Lexus.

And even thought it is now used - I'm not willing to let it go for what I feel is fair market.

So rather than sell the Lexus at a loss... I decided to keep it.

So now when I go out of town - I'm sporting a Lexus.

My point is... if you can afford it? I'd keep it.

Gene
 
#8 ·
Sell it...

Why would it be any better to sell in the Spring? Just because of the nicer weather and more desire for a convertible? The economy and sales of luxury cars is not rebounding anytime soon. Prices will just continue to drop, if anything, and I would not anticipate a significant bump just because of the fairer weather. I'd continue to try to sell and if you need to sell it quickly, drop the price another $2K. You're only just at fair market value now.

My wife wants a MB SLK350. I've been watching the prices and have seen them drop 20% in just the last two months on good used examples. Prices on all luxury autos are going down, down, down, so I wouldn't hold onto your Maser any longer than you need to. BTW - there's a good article on this in the latest Economist.
 
#9 ·
you could have fooled me. I have been trying to buy a 2008 or 09 GranTurisimo and trade in a 2008 Jaguar XKR Coupe. I have made offers on several cars in Miami and Naples but not even close to making a deal. The dealers think the DOW is still at 14,000, so I am going to keep my very fast XKR for the time being.



 
#10 ·
Auto Market

Unfortunately, I don't think that you're going to time this market and see an improvement in sales prices. Historically, this almost never happens. It's slow moving and getting worse.

The point is to enjoy the car, if you can afford to hang onto it. Transferring to another car seems like a good idea however you'll spend a lot in tax / transfer. In the end... that car will fall in value also. Now is the time to enjoy what you've got if you're happy with the car (excluding the resale). The Maserati is a great value, probably the best bang for the buck out there.

Expect it to get worse and be happy when it gets better. If you've got the money and you're not happy with driving the Maserati, then take the hit now and be happy today if you can stomach the cost.

Good luck!
 
#11 ·
Oh well...

My '02 MCC is under the cover in my underground garage and doesn't bother me a bit. If someone spends $30k-$60k ore more on a car and cannot afford a $500-!000 per month payment plus the collectors/exotic car insurance they don't deserve a car as such.
Yeah spring of '09 eventually will get here but the old prices and values on modern models I don't think they'll be back where they were last year ever. These are modern high maintenance cars and far from being collectibles and whoever wants to get out of a loan on this type of car it'll take a huge hit. I've had over 20 cars in less than 10 years and sincerely I took a hit on every one of them, mostly financially and time consuming also.
Do I regret it? Very little because I've always had a reason to get rid of them.
Now I don't share the same vision, I know the market is crap, I know the weather is horrible here in the NW and I also know it's in the garage most of the time and i struggle finding free parking for my beater outside on the Seattle hills but you know what? I do all that with pleasure and I'm looking forward to next spring and I'll enjoy every minute driving it, the bond between my maserati and me isn't being matched by any bad news about the economy or other fabricated brain washing political doctrine.
This is the way I see things at this time and I also understand some people lost their jobs and hard times are coming for many but if you're one of them take the loan papers and the keys, drop them off at the financial institution where the loan was originated and tell them you can't afford the car anymore, there is nothing they can do to you, have a commuter car purchased before doing so, they'll try to bla bla you but legally there isn't anything they can do. Oh yeah they'll try to tell you about credit scores and how they'll ruin your financial life but all that is just bs. In a case like this prepare ahead of time for what's coming, people walk away from houses, business loans etc and the banks take the initial hit until they get rescued by some stupid government, it's the way it is now days and for millions it's common practice. I'm not saying it to do so but Europeans have done it for years and years, no one can take your life because you're being realistic.
This was my point of view on the subject.:):):)
 
#12 ·
siouxxxzennn said:
I don't think the market is going to come back for quite a while. Definitely not by Spring. You have to consider the cost of keeping the car (insurance, registration, repairs, interest, etc.) versus taking a hit and being done with it. Plus you never know if the market will go down further- it is possible. I would sell it and move on. Put the money in a safe investment and make a few bucks. You just in an unfortunate ecomony but at least you havent been trying to sell your home for over a year like me. Anyone want some beautiful real estate in Maryland horse country??
Click to expand...
Look at the 50bln usd scheme Madoff pulled and think about those greedy bastards that now are waiting to get rescued financially by the SEC. Oh let's all cry for them, watch some of them having the balls to even cry in the media for their losses, to be ridiculed on tv for their screwups and greadiness.

Look at the American auto industry who gets bilions to produce more plastic non reliable crap boxes on bad wheels and horible suspensions.
Someone wants to come even or make money in an uneven system? Good luck on that!
 
#13 ·
HUZETI said:
Look at the 50bln usd scheme Madoff pulled and think about those greedy bastards that now are waiting to get rescued financially by the SEC. Oh let's all cry for them, watch some of them having the balls to even cry in the media for their losses, to be ridiculed on tv for their screwups and greadiness.

Look at the American auto industry who gets bilions to produce more plastic non reliable crap boxes on bad wheels and horible suspensions.
Someone wants to come even or make money in an uneven system? Good luck on that!
Click to expand...
Dont hold back! Please let us know how you really feel! ;)
 
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#16 ·
HUZETI said:
My '02 MCC is under the cover in my underground garage and doesn't bother me a bit. If someone spends $30k-$60k ore more on a car and cannot afford a $500-!000 per month payment plus the collectors/exotic car insurance they don't deserve a car as such.
Click to expand...
Things change in life and when one finds himself without a job, a $500 a month payment on a car becomes a hard to afford luxury.
 
#17 ·
Serious or not

Niteroi said:
You can't be serious.
Click to expand...
Even being serious I don't held accountable the human being who wanted to have a dream car, it's the system that failed him, the environment he trusted for so many years and BF is right, $500 or so per month can be a lot when you don't have it, it can be a lot per year if isn't in your pocket.
I didn't mean to offend anyone here but I feel for everyone who was naive enough to believe the Clinton era will last forever.
I apologize if someone taught this was targeting a certain individual and if that is the case please remove my replies.
Thanks.
 
#18 ·
I like the emmotion. I am now looking at buying a Spyder specificaly because the price has come down so much. Overall I compare this to an old classic that needs more daily care, cost the same, but parts are less. Instead perhaps prices will hit bottom here soon and stabalize for awhile. All thing fluctuate. Stock market seams to have bottomed out on Nov 20th. We may test this again and who knows, I now I don't, but hey I've started buying a few stocks again and stepped up and went long oil and up 15% in a month. So again, who knows, maybe I'll get something right. Another thing I may get right is to pull the trigger on a Spyder in the dead of winter when nothing is selling and everyone is singing the blues. Last time I did this a drove my toy did minor repairs and sold it at even money a year later. Cheap fun.

Let's hope this is the case with the Spyders. Wish me luck. And enjoy your toy, especialy when no one is looking.
 
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