Ferrari Classic Car Values? Madness...
Discussion
It seems values are increasing every minute let alone every week. Just seen a mint Daytona advertised £800k?! What the f*ck?! I was astounded 2 months ago when they were going for between £650k-£700k. £100k increases in less than 3 months seems insane. I remember 3 years ago that £200k was the absolute top end of the market. This is just rampant speculation on a not especially rare car.
£400k for a 246 seems normal, as does £1m for a mint F40 (of which over 1,300 were produced), £1m+ for an F50 and £1.5m+ for a 288 GTO. Honestly, where is this going? £1.5m for a Daytona, £2m for a low mileage F40, £3m for a 288?! We've seen compound annual rates of return in excess of 20% over the last 4 years on some classic Ferraris so I think this is definitely possible in the next 12-18 months (if it continues of course!).
This greed is filtering to all levels of the market. Such as this individual who's trying to flip a 456 with average mileage for £75k: http://www.pistonheads.com/classifieds/used-cars/f... I bet he bought it for less than £30k 2 years ago! Congratulations to the seller if some absolute sucker buys this for anywhere near the asking price! It's probably worth between £45k-£50k - which would be a tidy profit in itself!
Can it last? Thoughts?
£400k for a 246 seems normal, as does £1m for a mint F40 (of which over 1,300 were produced), £1m+ for an F50 and £1.5m+ for a 288 GTO. Honestly, where is this going? £1.5m for a Daytona, £2m for a low mileage F40, £3m for a 288?! We've seen compound annual rates of return in excess of 20% over the last 4 years on some classic Ferraris so I think this is definitely possible in the next 12-18 months (if it continues of course!).
This greed is filtering to all levels of the market. Such as this individual who's trying to flip a 456 with average mileage for £75k: http://www.pistonheads.com/classifieds/used-cars/f... I bet he bought it for less than £30k 2 years ago! Congratulations to the seller if some absolute sucker buys this for anywhere near the asking price! It's probably worth between £45k-£50k - which would be a tidy profit in itself!
Can it last? Thoughts?
It's late and I've had a drink or two but I think this scores 4 points using my PH Supercar bingo chart.
http://www.pistonheads.com/gassing/topic.asp?h=0&a...
Although I must admit I didn't really think through the rules carefully. Should double usage of the same word count twice? And what about bonus points for using them in the title?
Thoughts?
http://www.pistonheads.com/gassing/topic.asp?h=0&a...
Although I must admit I didn't really think through the rules carefully. Should double usage of the same word count twice? And what about bonus points for using them in the title?
Thoughts?
Gassing Station | Supercar General | Top of Page | What's New | My Stuff