What Emerging Markets?

Punitive import taxes, primitive road systems, and lack of technical support will keep most classic Ferraris where they are

by Michael Sheehan

The flow of Ferraris to the U.S. began in October 1948 with Tommy Lee’s purchase of 166 MM Barchetta s/n 0002M at the Turin Auto Show, quickly followed by Briggs Cunningham’s purchase of 166 Spyder Corsa s/n 016 that November. For the next 60 years, Ferraris have gone back and forth between Europe and the U.S., moved by currency swings, economic booms and busts, smog laws, and ever-growing racing events. Over the last few years, there has been a slow but steady movement of cars toward Europe due to a woefully weak dollar and the popularity of events such as the European Ferrari Historic Challenge, the Tour de France, the Tour d’ Espana, ad infinitum.

As Ferrari prices have escalated and the dollar has steadily sunk into the sunset, I’ve had no lack of would-be-sellers who want us to sell their older Ferraris for ever-higher prices overseas to the new and...