Friday, December 24, 2010

I Guess This Recession Is Hitting EVERYONE

This Ferrari for sale ad indicates the seller is in Hailey, Idaho.  If you don't know the area--this is Sun Valley--the only county in the state rich enough to consistently vote Democrat for President.  It is one of those places where the billionaires are pushing the millionaires out.
456M GTA in Silver with Bordeaux leather seating with low miles of 8,507 Even with the V-12 engine this stunning machine / moving art is easy to drive with it's automatic transmission and four wheel ventilated DISC brakes with the Teves anti-skid braking system. What makes this Ferrari so appealing it that even with it's low miles the last owner felt that due to age it was due for it's 30,000 mile major service. Not only was the major service done but shocks and ball joints were replaced all the way around.
It includes the original window sticker showing that the MSRP was $230,237.  Several things jump out at me from reading this ad:

1. How good can a car be that with 8,507 miles, it makes sense to replace the shocks and ball joints?

2. I understand that for the billionaire Democrats who make up Sun Valley and environs, it is really important to have a car that sits there, waiting for those rare occasions when you fly into your several million dollar mountain chalet and need to get around town.  (This explains 8,507 miles on a ten year old car.)

It used to be common for airline pilots to keep a beater of a car in several airports that they regularly flew in and out of so that they wouldn't have to spend the money on a rental.  Perhaps a $230,000 Ferrari is a billionaire Democrat's notion of a "beater."

3. Obviously, bad times are even hitting people that buy $230,000 Ferraris.  Depreciation tends to be one of the big costs of buying a new car--and I should say that this is certainly proof of that!  If you buy most new cars, and sell them again three years later, you may rack up ten or twenty cents per mile in depreciation.  This little gem, assuming it sells at its bargain price of $69,995, will rack up $18.84 per mile in depreciation.

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