Last summer’s Monterey auctions defined the top of the collector car market, and Scottsdale has delivered a new bottom line. It’s pretty hard to argue the collector car market isn’t on solid ground when collector cars generate $133m in Scottsdale in one week.
Barrett-Jackson did nearly $61m, Gooding just over $32m, while RM sold $18m and Russo and Steele $17.5m. In all, 2,343 cars were offered and 1,726 sold, a 73% sales rate. A variety of buyers attended the Read More
In my two previous columns, I divided Ferraris into the Enzo-era cars (1947-73), the Fiat-era cars (1973-91), and the Montezemolo-era cars (1991-present), and I outlined how each generation fared differently in the current economy.
But I didn’t go into how many Ferraris exist and where they are, which elicited a request from Chris Current, Chief Judge of the Ferrari Club of America, asking in part:
1. How many “old” or “classic” Ferraris, say 1975 and earlier, are there in Read More
In last month’s column I discussed how Ferraris have evolved through three distinctive eras in the past 60 years:
1. Racing-based evolution of the Enzo Ferrari era
2. Mass production of the Fiat years
3. Even-higher-volume of the di Montezemolo era
I concluded, in part, that the Enzo-era cars are the most collectible and highest valued, while the Fiat-era cars long ago flat-lined in value, and the Montezemolo cars quickly become used cars.
From the day Read More
Over the last 60 years, Ferraris have evolved through three distinctive eras: the Enzo Ferrari era, the mass-market Fiat years, and the present high-volume exotics from Luca di Montezemolo.
The Enzo era began modestly enough in 1947 with a pair of 125 Barchettas, s/ns 01C and 02C. Powered by a diminutive 1,497-cc V12, putting out a very modest 72 hp, the 125 was a success from its first race, winning at Rome’s Caracalla Circuit on May 25, 1947. At Read More
Six months ago we received one or two calls or emails a day from people who wanted us to help them to market and sell their Ferraris. Today we receive half a dozen calls or emails every day, and the number is growing.
With each call I laboriously explain that regardless of whether prices are going up or down, in any market it always takes the best car, best documentation, best service history, best marketing, and best price to Read More
The 2008 Monterey auctions brought together the largest collection of high-dollar collector cars ever offered anywhere on one weekend. Four of the auction houses featured multiple top-level GT Ferraris, with seven 275 GTBs, four Daytona Spyders, three Lussos, and almost four dozen more Ferraris crossing the block over three days.
The auction houses know what is currently “hot” on the market, and so all four worked hard to fill their auctions with those models, the GT Ferraris. Of the Read More
I recently received an email regarding a 430 Scuderia that had hit a deer, with the damage described as “very lightly hit, the bumper is scratched and the hood is lightly dented.” Further emails stated that the owner, who was a passenger in his own car, felt the diminution in value to his 430 because of the damage should be $100,000 over and above the cost of the actual repairs, and he expected the driver’s insurance to cover his extra Read More
I’ve known Keith Martin for more than 20 years and have been involved with SCM nearly from the start. In the earliest days, 1989-90, he was buying and selling Alfa Romeos like there was no tomorrow (read: like there was no 1991). I’ve watched with interest as he has gone on to build SCM, and have been pleased to be able to contribute my thoughts. At the same time, I have made the transition from having a fully staffed sales Read More
Much has been written-both positive and negative-about Ferrari Classiche, the arm of Ferrari set up as an official certifying organization for its cars. For decades, Ferrari had no interest in the older cars and only pricked up its ears (and its legal department’s pens) when the elusive William Favre began building and selling 250 GTO replicars in the early 1980s.
Enzo Ferrari was personally incensed, and Favre was soon out of business. Ferrari feared that if outsiders had access Read More
Thanks to feedback from readers, virtually every column inspires a follow-up column. In “Opening Pandora’s Black Box” (December, p. 48), I wrote that “the older Ferraris, from the 512 BB backwards, can be restored by an experienced shop, and virtually any part is or will continue to be available or can be made.” What I left out is the difficulty of finding and the cost of sourcing or making those parts.
Parts procurement comes in two levels of complication. Read More