1. Welcome to the new Styleforum!

    We hope you’re as excited as we are to hang out in the new place. There are more new features that we’ll announce in the near future, but for now we hope you’ll enjoy the new site.

    We are currently fine-tuning the forum for your browsing pleasure, so bear with any lingering dust as we work to make Styleforum even more awesome than it was.

    Oh, and don’t forget to head over to the Styleforum Journal, because we’re giving away two pairs of Carmina shoes to celebrate our move!

    Please address any questions about using the new forum to support@styleforum.net

    Cheers,

    The Styleforum Team

    Dismiss Notice

Classic cars which went for top $ @ recent Monaco auction

Discussion in 'Fine Living, Home, Design & Auto' started by Christofuh, May 8, 2010.

  1. epb

    epb Well-Known Member

    Messages:
    824
    Joined:
    Nov 24, 2008
    Location:
    Chicago, IL, USA
    What is the reason that Ferraris from the 60s fetch such a high price?

    Demand, due to the Ferrari name, and supply - model runs were incredibly small in the 50s and 60s - we're talking a few dozen cars in a lot of cases. Ferrari's rule is supposedly to always build one less than they thought they could sell. Throw in that most have either celebrity of competition provenance (or both), and you get crazy prices.

    They're also helped by the newer cars, which aren't nearly as beautiful or desirable and don't often perform much better. Production numbers increased in the 70s and 80s with more entry-level cars (the Dino, the 3x8s), so prices for later cars are much more sane. Aside from a few limited-edition cars like the 288GTO and Enzo, Ferraris depreciate like regular used cars now.
     
  2. LabelKing

    LabelKing Well-Known Member

    Messages:
    25,745
    Joined:
    May 24, 2002
    Location:
    Constantinople
    If you look at older car enthusiast magazines from the '60s and '70s, a lot of these 1950s and 1960s Ferraris, Maseratis, etc. were being sold for pennies on the dollar.

    They were considered mere used cars back then, and not even as particularly marketable used cars--a very niche interest back then.
     
  3. impolyt_one

    impolyt_one Well-Known Member

    Messages:
    14,457
    Joined:
    Sep 6, 2006
    Location:
    The Temple of Jawnz
    I don't see either the new Cali or 599 aging well in the future, while I think the 360 and 430 will probably look pretty good. The 360 still looks good now and it's over 10 years old already, not bad for avant garde car design.
     
  4. Germanicus

    Germanicus Well-Known Member

    Messages:
    175
    Joined:
    Mar 5, 2008
    The market has been totally overheated for about 10 years now. No matter which cars you look at. At a recent auction a Lancia Falminia Bertone Coupe sold for 144k€ this is double as much as the car's realisitic worth. Same goes for Aston-Martins or old Mercedes-Benzs, you could get a good DB5 or & from 50k€'s on, now its 3 to 6 times as much, same with these Ferraris. A couple of years ago you would have had problems selling one for over a million, nowadays it's gone insane. I know it's also a question of supply and demand, but these cars are not worth this amount of money.
     
  5. jiratic

    jiratic Well-Known Member

    Messages:
    126
    Joined:
    Aug 29, 2009
    theres something so rounded and charming about these cars, but holy **** are they expensive.
     
  6. turboman808

    turboman808 Well-Known Member

    Messages:
    878
    Joined:
    Nov 3, 2008
    Bugatti sold a few weeks ago for 30 million.

    http://www.autoblog.com/2010/05/05/1...rd-30-million/

    These cars are like status symbols among collectors. If I made that kind of money I would be all over them myself.

    I may not be able to afford 200k cars but I can afford certain cars that have not taken off yet. Most luxury cars from the 20s and 30s are far beyond the reach of the average man. Cars from the late 40s and 50s are still affordable. 10 years from now that will be a different story.

    The thing is the cost of restoring a car is fucking expensive. Thats a huge factor in driving up the prices. One reason is if it cost you 100k to restore the rust bucket in your back yard you may just trash it. Also if your looking for one of those cars paying 80k for one in mint condition makes alot of sense.

    I built my 914 over the last 3 years at a cost close to 6 figures. [​IMG] I plan to keep it for life but if I had to sell it right now I would get raped so fucking bad. I would be lucky to get 40k for it right now. But I never plan to sell so I don't worry about that to much.
     
  7. epb

    epb Well-Known Member

    Messages:
    824
    Joined:
    Nov 24, 2008
    Location:
    Chicago, IL, USA
    Bugatti sold a few weeks ago for 30 million.

    http://www.autoblog.com/2010/05/05/1...rd-30-million/

    These cars are like status symbols among collectors. If I made that kind of money I would be all over them myself.


    These cars are the elite of the collecting world right now - Duesenbergs, Rolls-Royces, Bugattis, all the coachbuilt cars of the 20-30s. What I wonder is how long that will last. The guys collecting these cars are older and I don't see the younger generation being as excited about them (seeing as how many have no idea what they are).

    I think we'll see prices for these start to drop as interest wanes, while 50s-60s exotics continue their rise. As LabelKing pointed out, these Ferraris were a couple of grand in the 70s, but really, you could still wind up kicking yourself. I passed on a $40k Ferrari 330 about 7 years ago; they've doubled in that condition since then, and I've no doubt they'll keep rising as interest in 60s Ferraris continues to grow.
     

Share This Page

Styleforum is proudly sponsored by