The long version

McLaren's own depreciation reputation became self-fulfilling here — buyers who'd heard the brand doesn't hold value the way Ferrari or Lamborghini does started trading out before the car could prove them wrong, producing exactly the churn they worried about. The 720S is genuinely the fastest thing near its price point, but that number sells the car more than it keeps anyone attached once the next McLaren or a tempting Ferrari trade-in shows up. Values cratered early and have only partly recovered, and the ownership pool still looks more like short-term position-holders than people planning to keep the car a decade.