[212Export]

I wonder about "the price Momentum" in older Ferraris, especially rare collector cars with race history, where prices went threefold during the last 5 - 6 years. Understanding the basic economic law of supply and demand, I do start to get a little worried about pricebehavior of Ferraris like the 330 GTC, 275 GTB's, Daytonas etc.
If I look at todays prices for a 275 GTB/4 of 1-1.2 Mio US; a soso Daytona for 320k US and a pretty clean 330 GTC for 290k US I do ask myself, if anybody of us will ever be driving those nice GT's from the 60's and 70's again.
Additionaly it clearly shows hoe relatively cheap the so called supercars are (F40 and F50) with the exception of the 288 GTO.
I would be very interested in your thoughts, opinions and expectations on this !

[Andrew]

Originally Posted by 212Export

I wonder about "the price Momentum" in older Ferraris, especially rare collector cars with race history, where prices went threefold during the last 5 - 6 years. Understanding the basic economic law of supply and demand, I do start to get a little worried about pricebehavior of Ferraris like the 330 GTC, 275 GTB's, Daytonas etc.
If I look at todays prices for a 275 GTB/4 of 1-1.2 Mio US; a soso Daytona for 320k US and a pretty clean 330 GTC for 290k US I do ask myself, if anybody of us will ever be driving those nice GT's from the 60's and 70's again.
Additionaly it clearly shows hoe relatively cheap the so called supercars are (F40 and F50) with the exception of the 288 GTO.
I would be very interested in your thoughts, opinions and expectations on this !

I agree and now is the time to buy those "cheap" supercars, especially the F50. I always have a fear that when I post this I am somehow subconsciously driving demand up and will not benefit if I am in a position to buy one of those cars.

Hopefully the answer to the first half of your though is, yes people will continue to drive the GTs from the '60s and '70s. It will be sad if they all turn into garage queens.

Here is another question. What has been the price increase relative to inflation? If it is significant the question I wonder is what's driving the demand to make the price go up so much. More multi-millionaires today with disposable income?

[212Export]

Originally Posted by Andrew

Here is another question. What has been the price increase relative to inflation? If it is significant the question I wonder is what's driving the demand to make the price go up so much. More multi-millionaires today with disposable income?

Definitively so. Especially from the Asian part of the world. In contrary basic inflation grew just around a meager 20% during the last 8 years. (I guess Ferrari prices are not included in the core consumer inflation report )
The worldwide money system has been inflated by the central banks in the early 2000's to prevent market meltdowns, creating a state of easy liquidity at hand of all kinds of "no interest rate accruing" investments, like contemporary paintings changing hands for 30 Mio. USD etc. It seems that the subprime crises is the first sign of a correction of the whole situation and, traditionally, Ferrari prices may be at the tail of such developments. I really do not know but I have the feeling (stomach wise) that we are near a turning point somewhere around the next 6 - 12 months. The fact that in Europe alone someone could possibly participate on around 1500 classic and vintage car events in a certain year probably describes better my feeling of "extension" in our loved Ferrari World.

[sharkey]

To begin with, I have just received an unsolicited phone offer (low balling of course) for the 330 GT 2+2 which I have owned for over 29 years. The last time that happened was in the 80's when any Ferrari was going up at a ridiculous pace. I am the Old Bastard who has had the car sitting under a tree in SoCal for years. When I was getting offers every week or so at very low prices I told them all I'd rather plant flowers in it than let it go for the offers they were making. In summary, I believe all of them are going higher and soon.

Originally Posted by 212Export

Definitively so. Especially from the Asian part of the world. In contrary basic inflation grew just around a meager 20% during the last 8 years. (I guess Ferrari prices are not included in the core consumer inflation report )
The worldwide money system has been inflated by the central banks in the early 2000's to prevent market meltdowns, creating a state of easy liquidity at hand of all kinds of "no interest rate accruing" investments, like contemporary paintings changing hands for 30 Mio. USD etc. It seems that the subprime crises is the first sign of a correction of the whole situation and, traditionally, Ferrari prices may be at the tail of such developments. I really do not know but I have the feeling (stomach wise) that we are near a turning point somewhere around the next 6 - 12 months. The fact that in Europe alone someone could possibly participate on around 1500 classic and vintage car events in a certain year probably describes better my feeling of "extension" in our loved Ferrari World.

[jtremlett]

Depends what happens to the world economy doesn't it? Personally, I would expect a prrice correction in the next year or so, but we shall see.

I'm not sure I agree with the original poster. I don't see demand for the early cars coming from Asia. As far as I am aware (and maybe others know different) most of the earlier cars sold of late have gone to new homes in the traditional markets of Europe and the US. Demand for the latest cars is what is coming from Asia, as I see it.

And yes, I do think part of the demand is people wanting to participate in things like the Mille Miglia Retro and therefore, in spite of the values, we are actually more likely to see these cars now than in the past.

Jonathan