If you’ve ever wanted to buy a classic V-12 Ferrari, now might be the time to do it, if recent trends in auction prices are an indication.
Twelve-cylinder Ferrari models sold poorly at two recent high-profile auctions, and the ones that did traded for uncharacteristically low prices. Those include two of the brand’s most desirable cars in recent years, the LaFerrari hybrid and F12 TDF, examples of both of which went unsold at a recent auction in Villa Erba, Italy.
The folks at Classic Car Auction Results have a couple of theories. One is that, at least in the case of the LaFerrari, brand enthusiasts are leery about taking home a car sure to command serious maintenance fees as it racks up kilometres.
Their other idea is buyers are unsure whether to believe Ferrari’s right to claim limiting production ensures desirability and high resale values. Neither of the two cars that rolled across the block in Italy bear plaques indicating what number they are in the production run, suggesting Ferrari may simply be building the cars to meet demand, rather than favouring future resale.
Other sales – or the lack thereof – left experts thinking perhaps people are not interested in flagship Ferraris the way they used to be.
But those experts, including Harry Metcalfe, former editor of UK car magazine EVO, don’t think it’s just Ferrari values that will suffer, as sales of top-end cars have been soft this year across the board.
“Ferrari prices have been the market leaders in both the size and speed of the growth, so it seems logical they’d be the first to falter, too.”