Before downpour irrumpiese in events organised by Ferrari at end of last week in Maranello to celebrate its 70th anniversary, long row of models from all eras deployed at test track in brand realized that market for classic cars has a legion of tiffosi (fans) and attracts no less investors. The company promoted an auction in which were offered, 53 cars, from a Ferrari 250 Europa Coupe 1953 until his exclusivísima LaFerrari Aperta of this year. Sold 49 of 53 vehicles in catalog and between m all y raised 62.1 million euros.
Although figure is not dazzling for this business (a single Ferrari GTO 250 1962 it came to auction for more than $ 38 million in 2014, a year before peak of market), percentage of cars sold (92,45%) shows that interest for classics with solera and certificates survives despite decline that business accumulates from mid-2015. Buy a Ferrari with a pedigree is still a potential business even though auctioneers such as Soby's, which organized bid have to desgañitarse more to scrape one of thousands of euros before lowering hammer.
A collector from california, a regular toger with her husband of se events and owns about 40 classic cars (many for rent to film industry), commented that buyers as she had become more and more demanding with history of car. “Up to 2015 was enough to be a model, rare and in good condition, now history of vehicle it is crucial for price. If car belonged to Keith Richards price goes up, but not as much as before, you have to have more cache to get to higher prices.” With a glass of white wine in hand, lady, as rich as anonymous, made comment while he is in catalogue of auction page where it appeared Ferrari 400i 1983 black guitarist of Rolling Stones, which eventually sold for 345.000 euro.a Jewel on wheels
In auction held on Saturday 9 were offered, 53 cars, of which 49 were sold. In total, we raised $ 62.1 million euros, a figure that includes sale of a Ferrari LaFerrari Aperta 2017 by 8.3 million, which were donated to Save The Children. In sale of classics, five highest rated were following:
1. Ferrari 250 GT LWB California Spider, 1959. Auctioned in 7.855.000 euros.
2. Ferrari 250 GT Cabriolet Series of 1958. Value reached: 4.719.000 million euros.
3. Ferrari 750 Monza of 1955. Sold by 3.375.000 million euros.
4. Ferrari 288 GTO 1985. Auctioned by 3.263.000 million euros.
5. Ferrari 250 Europa Coupe 1953, which was delivered by 2.871.000 million.
The trend is, refore, to buy best and pay less. In three of largest auctions (Scottsdale, Kissimmee and Amelia Island) taken in first semester in united States, for example, experience was similar. The number of sold vehicles with respect to offered was reduced compared with previous year, but remained at an acceptable 75% of total. However, average price paid for m was reduced by 12%, according to an analysis by insurer of classic cars Hagerty.
The firm, which has its own index for measuring temperature of market, leads registering two years of cooling demand. While, subscript of consulting firm dedicated to Ferrari, which includes 13 models most appreciated brand of between years 50's to 70's, remains relatively stable from a year ago and a half, despite fact that some of icons in list have lost something of value.
Similar situation to that of united States was in an auction last June at Goodwood Festival of Speed in United Kingdom, where two classics like a Ferrari Testarossa Coupe 1989, and a Bentley S-Type Continental Sports Saloon from 1959 or even sold.
Already on market planned to idea that possible changes in monetary policy in united States and United Kingdom were to redirect to many investors towards assets that are more traditional such as stocks and bonds after years of uncertainty and rates are negligible, in part, exacerbated interest of classic cars as a value shelter. Or experts blamed halt to that, after years of a crazy race of sales to price is sometimes excessive, since re were not many cars of real value on offer. In addition, who probed get any sale, soon I knew that was not going to get benefits meteoric 2015.Historical accessible
Although most of best classic brands such as Ferrari, Porsche or Aston Martin will continue to have a good pull among investors despite fact that majority of you are not willing to pay any price, new situation of business has refocused interest towards segment of so-called ‘classics accessible’, valued typically at less than 100,000 euros, as may be a Volvo P1800, Alfa Romeo GTV/GT Junior, Jaguar XJ-S, Triumph Stag or a Volkswagen Karmann Ghia, to name a few european models.
This market is very much alive and many reports from auction houses suggest that will be only one to grow at a good pace in coming years. Some of vehicles of this segment shall be same fate that many of Ferrari that is subastaron on occasion of 70 anniversary of brand, which grew by around five times its value from mythical Italian brand festejara his 60th birthday.