Let’s Go! The value of Ferrari is like the current state of my body weight upon awakening each morning, the number is always up! Fat aside, there will be 12 GTO’s on display at the Amelia Island Concours d’Elegance this weekend and guess what the total value of these twelve vehicles is hitting? Much higher than that my friend. On display a whopping $360 million dollars in value for 12 GTO’s, this is not exactly a hobby for a chump with change, you’ll need a Warren Buffett sized wallet to add a Prancing Horse to your garage, though these twelve are not up for auction. Repeat, “three-sixty-mil” in GTO’s sounds like paydirt. AND, if you haven’t noticed the increase in auto auctions globally just remember the names Barrett-Jackson, Gooding&Co., Bonham’s and GPK Auctions, their auctions have seeminlgy influenced the rising values andd costs of collector cars. While I will not attend this weekend’s Amelia Island Auction and Concours d’Elegance, Atlantic City‘s recent auction drew the collectors and the curious from Baltimore, Philadelphia, Long Island and all points between, people want to be in the know how and know why how and they’ve missed the boat…it was a yacht. If you are not in the know
hot damn you’d better ask somebody cause these beauties are worth the hunt if you live in barn country, find it.
In closing, I’ve always wanted to express condolences to the family, friends, and loved ones of Mr. Sergio Scaglietti. Unfortunately the auto industry lost a pioneer, and prolific designer if you recall the 1957 Testa Rossa chassis number 0666 which fetched 16.4 million at auction a month before his home going in November 2011, that was Mr. Scaglietti’s masterpiece, he was 91. http://wheels.blogs.nytimes.com/2011/08/22/ferrari-testa-rossa-sells-for-record-16-4-million-at-pebble-beach/
Start your engines! With rising interests and increasing costs in collector cars it’ll require more than ambition & drive to find a real barn find, with the likes of people like myself wanting in on the auction action too-it’ll take a lottery win or extraordinary event to get in!
- Amelia Celebrates The Ferrari GTO’s 50th (motortrend.com)
- 2011 Pebble Beach Concours D’Elegance To Celebrate The “Greatest Ferrari Of All Time” (motortrend.com)
- Concours d’Elegance At The Ritz-Carlton, Amelia Island Puts Island On The Map With International Car Collectors (prweb.com)
- Report: $30 million Ferrari 250 GTO crashed on 50th anniversary tour (autoblog.com)
- Rare Ferraris May Fetch $20 Million at Auction (bulletfame.wordpress.com)
- HUBLOT Ferrari 250 GTO Classic Fusion Watch (freshnessmag.com)
- $16.4 Million Testa Rossa ? (ritholtz.com)