CHECK OUT CARS & BIDS!
Here’s a fun video! Kennan and I browse through old DuPont Registry magazines from the peak of the Great Recession, searching for car prices from the past — to unbelievable results.
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00:00 THIS
00:37 CARS & BIDS!!!
01:27 Okay, now we are really starting
03:35 Ferraris Ferraris Ferraris
06:12 Ford GT vs Lamborghini Diablo
07:46 Carrera GT & Other Porches
10:12 Even More Ferraris
11:26 Doug is going to blow your mind
12:53 Depreciating Ferraris
14:23 All-Time Winner: Ferrari F40
17:02 JK, this is the all-time winner: XJ220
19:42 Ferrari F355
22:14 Prugna 308 GTB
23:19 What’s Ferris Bueller got to do with it?
24:06 Outro…(read more)
BREAKING: Recession News
LEARN MORE ABOUT: Bank Failures
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
The Great Recession, also known as the Global Financial Crisis of 2008, was a tumultuous time for the automobile industry. Luxury automakers were hit hard as consumers tightened their purse strings, and the demand for high-end vehicles declined sharply. As a result, supercar prices from the Great Recession were historically low.
Automakers such as Ferrari, Lamborghini and Porsche were forced to offer heavy discounts on their vehicles in order to move inventory. During the height of the recession, supercars like the Ferrari 599 GTB and the Lamborghini Murcielago were being sold for up to 30% less than their original sticker price. This was due to the fact that buyers were few and far between and the automakers needed to move their cars off the lot.
One of the reasons why supercar prices were so low during the recession was due to the fact that financing was difficult to obtain. Banks and other lending institutions were wary of approving loans for high-end vehicles, especially those with price tags exceeding six figures. This caused many potential buyers to either give up on their dream of owning a supercar or look for alternative financing options.
Another factor that contributed to the low prices was the fact that automakers were focused on creating more affordable models to appeal to a wider range of consumers. Ferrari, for example, began offering the California model, which had a lower price tag and was geared towards a younger, more fashionable audience. Lamborghini also introduced the Gallardo LP 550-2, which was less expensive than its other models.
However, despite the low prices and attempts to appeal to a wider audience, the supercar market still struggled during the recession. Many automakers saw their sales decline drastically and were forced to cut production in order to stay afloat. This led to a decrease in the number of supercars being produced and the rarity of these vehicles made them even more attractive to collectors.
Today, the effects of the Great Recession can still be seen in the supercar market. While prices have since rebounded, they are still not as high as they were prior to the recession. In addition, many automakers are still focused on creating more affordable models to appeal to a wider range of consumers.
In conclusion, the Great Recession had a significant impact on the supercar market, as prices were historically low and production was cut back drastically. However, the downturn also led to the creation of more affordable models, which has helped to bring new buyers into the market. Today, supercar prices have rebounded somewhat but the effects of the recession are still felt in the industry.
A week later and Doug still munching on those cookies from his table / cgt
Zooming in on Doug’s cookie bite! Perfect!!!
Lmfao that 760LI drop a zero and you got the new price ahaha
612 was and still is ugly lol
Great video, nerds.
I have a dupont registry from October of 2001 and there was a 1965 Ferrari 275 gtb for $210,000 and a 1991 Ferrari F40 with 186 miles for $399,999.
Had to watch 23 minutes until one of you had a freaking cookie wtf.
I owned a luxury/exotic dealership in 2009. It was a bloodbath overnight. I was out of business within 6 mo. Lost everything.
Best thumbnail so far
I remember seeing a Porsche carrera gt for sale at a dealer in Seattle for $330k in 2009. I knew it was a sensational car then, as it is now, but I don’t think many could’ve foreseen, especially back then, that its value would catapult into the seven figure stratosphere. That said, it’s a car well worth its million dollar plus price tag.
You listed cars less than what we spent on cars that year during the downturn…. We made bad decisions….
Love this episodes, do more like this if y’all have time please.
Immediate thumbs up for the Veyron-indicted bit.
Two obscenely wealthy guys talking about how it would have been nice to have lots of money…. lol
We are currently in the jaws of the worst bear markets I have seen, the average stock has been cut in half, and the only way to make money this year has been to either short or to trade long in very short time frames. I'm still at a crossroads deciding if to liquidate my dipping $117k stock portfolio, what’s the best way to take advantage of this bear market?
My dad's childhood best friend had a chance to buy a 1962 corvette for $7500. I saw one auctioned for 400k about a month ago
Tough seeing Doug have to do this. Was an innovator back in the day.
I wish you'd have covered some Mercedes prices from back then. Nowadays a used Benz is either 10x MSRP or 10% of MSRP, no in between.
Doug is the type of guy who uses a Porsche Carrera GT as a table for his cookies.
This was fun. I hope you do a home review again sometime
I aspire to be “eating snacks off my super car” rich
Would be cool if you made video with predictions for future which card you think will become “cool” “special “ “classic “
It will be interesting to watch it again in 10 years and see if you guessed it right.
I still have a bunch of Hemmings issues from the last twenty years, with all the auction results. I'm sure there would be some mind-blowing prices in there, too.
I LOVED this video Doug, I hope to see this return again. Fun fact, I recently bought a 1975 car value guide for old and collectible cars and Aston Martin db5s were apparently $5k
Add a glass of milk next to those cookies on those table top fenders
AZ homes did to similar to these cars. A short sale in 2010 for 100k went to 500k at the peak 2021 market. The laws in az made this happen, not everywhere this happened.
part 2
In 08 I almost bought a immaculate Ferrari Dino with 36k miles for 32k. I sadly didn't. Also a perfect 85 308 GTB QV 32k miles for 34k didn't do that either. Regretted it ever since.
4:34 is the look of a man wanting a recession lol
I love this. I poop myself whenever I get a chance to look through an old used car ad. Playing the “if I would have known” game is so fun ❤
But, not the 1930's ???