The Last Days of Rome: Abandoned Supercars of Dubai, Part II

dusty

The last days of Rome? I beg to differ, Dubai falls flat on 60 billion and all of a sudden its considered defunct. Relative to the rest of other debts owed by other city states in this global recession, it isn't as hysterical as media would want you to believe. 4Q next year Dubai will once again be the play boy playgound of the middle east. I wouldn't hedge my bets.

Dubai's Economic model was never based on oil.
Dubai ran out of oil over ten years ago. Everything was built on speculation, booze, import-export, and sex tourism.
Unlike other cities and countries that have a real economic base to rebound on, Dubai is built on sand.
Dubai is a desert. There is no real agriculture, mining, manufacturing economic base to help pay off its debt.
Dubai is purely a service economy. Problem is that a lot of countries in the Region are now copying Dubai's model and have the cash, oil resources to undercut prices.
The only way out for Dubai would be to copy the Monte-Carlo business model, i.e: Gambling. Problem is that will not please Abu Dhabi, their conservative oil rich neighbor down the road.

What is even sadder than the bunch of expats that got sucked into the real estate feeding frenzy, and were forced to abandon their cars or homes are the 20,000 or so "export specs-for African or Asian Market" vehicles languishing in the desert. Property of now broke dealers that are now unable to sell them locally or abroad.
Rumor is that some of the manufacturers have not been paid for these cars, since in the go-go days most of the dealers got "easy" credit from the manufacturers.

A DMC DeLorean is not a supercar #1. You can get one BRAND NEW for $50,000. Or get one pre-owned and rebuilt for $25,000. DMC is still in existence as the rights and all parts were bought out and the company re-birthed. Watch the History Channel and check out the 80's tech episode.

It is an iconic car for sure, but not a supercar. And stop posting photoshops, the last one of a F40 Ferrari that was a body kit on a Fiero was not impressive.

1989 Jaguar XJ6 : $2500USD

Bunch of 20 yo RR and Bentleys : 20K each

1995 BMW Z3 : $7500USD

1993 MB 300E : 5K ?

Fiero-based Ferrari F40 kit car : 250 bucks ?

DeLorean with that great PRV engine : maybe 20K if it's mint

1975 RR Camargue : Ok it's rare, ok it was VERY expensive, but now ?
I don't know, maybe for some collectors.

Smashed not so recent 911 : 15K


Are people really abandoning these cars for being unable to pay for them or they've leave the place and just don't bother selling them because they are worthless ?

Your best post ever.

+1

Its all Obama's fault!

LOL. Yet another hating thread on Dubai. So what do Americans think Dubai is currently like after the recession? Hmm lets see... "that was once the hub of the oil economy like the tens of thousands of abandoned cars parked around the city. " LOL yeah tens of thousands of abandoned cars. I would love to know where they get their numbers from. So they make it look like a ghost town. Reality check, it's NOT! Yes, some people have lost their money in the real estate hype, but does that mean the whole city is going to collapse? I beg to differ. This is media's biggest BS. I don't understand why all the hating on Dubai exists. Yes, it's actually more luxurious than any other city in the US. Yes its home to the most rich people in the world. Yes it has buildings you can only dream of seeing in real life. Yes it has the tallest tower in the world. It also has the biggest mall in the world. It's also amongst the top 10 SAFEST cities in the world. Get over it!

PS, I live in Dubai, and if you believe all that stuff you're reading about Dubai going down because of the recession, then you're an idiot.

Relax m53. We know the press or whoever no-name that wrote the piece needs to create news for their job. It has no credibility. Most intelligent people come to their own conclusions and don't believe the majority of crap out there. Makes for needless conversation. That's it.

I'll take the F40