Market Analysis

     The Scottsdale auctions start the season and we look to the sales to determine if the market is in a slump, holding steady, or catching fire.

     Our first car, a 250 GT LWB Berlinetta (TdF), changed hands for nearly 4 million dollars. It was about ten years ago these cars were trading between 7-8 million dollars. The example here is pretty representative of most of these racing cars. Raced, damaged, rebuilt and raced some more. Few of this model avoided the ravages of the track.

     Now restored, as most are, it presents in pristine condition. Why did this example not bring top dollar? Hard to say for sure but the trend is topflight cars, “A” list, no story, always tend to bring the big bucks.

     This one does have a replacement engine and while replaced in period it does not qualify as an “A” list car.

     At the other end of the scale, the 458 Speciale has been a $400,000 car at auction. The one offered here ended up at nearly $800,000.

     While this Ferrari was in a great color combination and well taken care of, it still had five thousand miles on the odometer. Certainly not a super low mileage example.

     So, what does this say about the market? Is there a generational shift going on? Younger collectors may not be swayed by the history of earlier Ferraris.

     A modern Ferrari may be more relatable and therefore there is a desire to own and drive something closer to their age group.

     The market overall does appear to be flat, but the good news is there are more chances to gauge the market just around the corner.

     Stay tuned.