Highs and Whys in Monterey
The 2008 Monterey auctions brought together the largest collection of high-dollar collector cars ever offered anywhere on one weekend. Four of the auction houses featured multiple top-level GT Ferraris, with seven 275 GTBs, four Daytona Spyders, three Lussos, and almost four dozen more Ferraris crossing the block over three days. 400 SA—$1.65m now, will it […]
Laws of Diminishing Returns
I recently received an email regarding a 430 Scuderia that had hit a deer, with the damage described as “very lightly hit, the bumper is scratched and the hood is lightly dented.” Further emails stated that the owner, who was a passenger in his own car, felt the diminution in value to his 430 because […]
20 Ferraris You Shouldn’t Resist
I’ve known Keith Martin for more than 20 years and have been involved with SCM nearly from the start. In the earliest days, 1989–90, he was buying and selling Alfa Romeos like there was no tomorrow (read: like there was no 1991). I’ve watched with interest as he has gone on to build SCM, and […]
Sorry, You Can’t Get That Part Here
Much has been written—both positive and negative—about Ferrari Classiche, the arm of Ferrari set up as an official certifying organization for its cars. For decades, Ferrari had no interest in the older cars and only pricked up its ears (and its legal department’s pens) when the elusive William Favre began building and selling 250 GTO […]
The (Ever Increasing) Sum of Its Parts
Thanks to feedback from readers, virtually every column inspires a follow-up column. In “Opening Pandora’s Black Box” (December, p. 48), I wrote that “the older Ferraris, from the 512 BB backwards, can be restored by an experienced shop, and virtually any part is or will continue to be available or can be made.” What I […]
Convertible Assets Indeed
Throughout the week of March 12–17, the demise of Bear Stearns sent a shudder through the world’s economy. If, like me, you consider The Economist fun reading, and you survived the 1974 and 1979 gas crisis and the 1980–85, 1990–95, and NASDAQ 2000 recessions, it’s been all-too-predictable. The U.S. economy went wrong again. So what, […]
What Emerging Markets?
The flow of Ferraris to the U.S. began in October 1948 with Tommy Lee’s purchase of 166 MM Barchetta s/n 0002M at the Turin Auto Show, quickly followed by Briggs Cunningham’s purchase of 166 Spyder Corsa s/n 016 that November. For the next 60 years, Ferraris have gone back and forth between Europe and the […]
Crunching Ferrari’s Global Numbers
Decades ago, when negotiating with bankers for our first seven-figure credit line, I was asked, “What is the annual global Ferrari market, in both dollars and cars?” While I’ve long since forgotten the figures for that period, it was an interesting exercise to calculate then, as it is today. We start by breaking Ferrari sales […]
Where are Ferrari’s Future Classics?
One of the frequent questions that crosses my desk is “Which current Ferraris will become classics like the Lusso, 275 GTB, or any of the collectible earlier Ferraris?” Sadly, the answer is very few, if any. Win on Domenica, sell on Lunedi From the first Ferraris built in 1947, the Ferrari reputation was built on […]
A Dose of Reality in Your Ferrari Dreams
Recently, one early-morning caller wanted an “F1 Ferrari.” That afternoon, another emailed wanting “a race car,” and a later caller wanted either a 246 GTS or a 550. While buying a Ferrari is an inexact science, I start by explaining that all Ferraris are in some way “mission specific.” To the first-time buyer who wanted […]