Ferrari Mailing List: Re: Best investment of the last 10 years????

[LarryT (l02turner]

You wrote <<this class of people keeps their spending VERY private>>

It's probably always been like that but with the recent climate where 
certain groups are trying to incite hatred of those who have acheived great 
financial success, it would seem to be a good idea as far as personal 
preservation is concerned.

You also said <<will ALWAYS find a big buyer for big $$$ because there is 
only one available and it might not 'be there' >>

I guess this is a bit like the painting that sold a few years ago to a 
Japanese businessman for more than $30 mil - someone wanted it, they had the 
$$s, so they bought it.  Simple.

I always like the comparision between stocks, etc and collector cars - it's 
not much fun looking at stock documents but visiting the 288GTO or 250SWB in 
the garage and just caressing those beautiful lines while you give it a 
gentle dusting would be infinitley more satisfying.  Fire it up and go for a 
drive and the "Joy" factor go stratospheric!

When I make my fortune that's where much of my savings will be - something 
fast, something red.

;-)
LarryT

----- Original Message ----- 
From: "Michael James" <cavallino_rapante [at] yahoo.com>
To: "Larry Turner" <l02turner [at] comcast.net>
Cc: "The FerrariList" <ferrari [at] ferrarilist.com>
Sent: Sunday, March 15, 2009 11:36 AM
Subject: Re: [Ferrari] Best investment of the last 10 years????


The folks who trade cars as commodities may see a dip in their investment 
value, or they may not.....its hard to tell how 'hard' the current economic 
times are affecting the super-rich. They don't advertise gains/losses, and 
may in-fact have such a stockpile of wealth that dropping $5Million+ for a 
rare Ferrari at-auction is still financially viable for many of them.

Unless you are a member of this group, though, I don't see any real value 
whatsoever in tracking their Ferrari spending habits. There's a new thread 
every other week on FChat regarding the results of some Auction somewhere 
and what everyone thinks or 'feels' about the prices paid....you'll almost 
never read about any names posted regarding who bought what, as this class 
of people keeps their spending VERY private. So, one can reasonably assume 
they keep their other financial dealings equally private, and don't care for 
the publicity. There's no real difinitive knowledge regarding the 
super-wealthy, other than they keep buying the cars they want, they keep 
buying the houses they want, etc. as these markets are still strong on the 
account of sales still transpiring for big $$$ today.

Sure, you can 'cut-back' on new-car purchases (they'll always be there when 
you feel comfortable pulling the trigger - Ferrari will just make you one 
when the check clears) but if a one-of-a-kind 250 GT SWB California Spyder 
with factory hardtop, all the right patina/history/provinance is uncovered 
on some rich hermit's barn, that car will ALWAYS find a big buyer for big 
$$$ because there is only one available and it might not 'be there' next 
week. The collector market is International, and many rare machines are now 
living in vast European stables.

M

--- On Sun, 3/15/09, Fellippe Galletta <fellippe.galletta [at] gmail.com> wrote:


From: Fellippe Galletta <fellippe.galletta [at] gmail.com>
Subject: [Ferrari] Best investment of the last 10 years????
To: "Michael" <Cavallino_Rapante [at] yahoo.com>
Cc: "The FerrariList" <ferrari [at] ferrarilist.com>
Date: Sunday, March 15, 2009, 3:17 AM


New FORZA just came out with a buyer's guide for the 250 GT line (part
2)....the real playboy 250s this month.

In 1999, if I'm not mistaken you could buy a mint 250 SWB for maybe $500k?
Maybe that super duper SEFAC for $800k? According to the buyers guide, a
steel body ranges now from $2.2M - $3M, whereas an alloy body from $3.5 -
$4.5!!

Of course, the recent economic downturn is being reflected here.....2008
prices peaked at $3M & $4.5M respectively, lol.

Don't know what the basis for these #s are.....how often are they traded
anyways??

Interesting to note the growing disparity between the classics and the new
cars....I just hope the F40s and 288s don't follow the same trend ;)

FG
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