Want a Ferrari but can't afford a car? There's another way to own a piece of the legendary Italian marque.
"I would not buy a new Ferrari as an investment," Eric Minoff, a specialist in the motoring department at Bonhams auction house, told ABC News."Barring inflation, the selling price won't exceed what the cars sold for new." "People will always pay more for what they can't have," said Minoff."Over the last 20 years only three to four 250 GTOs have been offered. On the whole they will always be worth a lot of money."
Even though the current market for classic car investing may be down from its peak in 2013, there's another reason ultra-wealthy investors are committing serious amounts of cash for vintage Ferraris. Stephen Reitman, an analyst with Societe Generale, said there's evidence Ferraris have become more attainable than they were in the past, especially in regards to the newer models.
"The Portofino is the best-selling Ferrari now in terms of volume," he said."The SF90 is a clear indication to push the brand away from trying to recruit entry-level buyers, a sector where there is a lot of competition. New management has taken a smarter approach to realizing the potential of the business."
"All the cars Ferrari makes -- the mass market ones and limited editions -- are very important to the company," he told ABC News."Ferrari is so tight with its customer base. Management listens to its customers and builds what they want." "We view this stock as too overpriced relative to our forecast for the automaker's healthy cash flow generation and superior returns on invested capital," he told ABC News.
Barney Ruprecht, a car specialist at RM Sotheby's, said he still expects the 250 GTO to rise in value but"incrementally and not at the same aggressive velocity that we've seen."
I guess that could happen))🧡
Velocity - Jan Theuninck, 2018
Stock
Have Bernie Sanders propose free Ferrari's for everyone?
If I wait long enough Elizabeth Warren will give them away free if she is president.
I want one....dont you ?