| Author | Message | ||
| Jeff B. (Miltonian)
Member Username: Miltonian Post Number: 596 Registered: 12-2002 |
On page 401 of Brock Yates' book on Ferrari, he mentions that Enzo and Luigi Chinetti met late in Enzo's life, and that Chinetti reckoned that Ferrari was worth at least $40 million, but was still haggling over a few dollars and intended to go to his reward with his last lire. | ||
| Jack Habits (Ferraristuff)
Intermediate Member Username: Ferraristuff Post Number: 1064 Registered: 4-2003 |
Great Jim! Exactly what I was looking for! Jack | ||
| Jim Schad (Jim_schad)
Intermediate Member Username: Jim_schad Post Number: 1885 Registered: 7-2002 |
http://www.westegg.com/inflation/ $300K in 1960 would be = to $1,780,936 in 2002 $394K in 1977 would be = to $1,197,756 in 2002 | ||
| Jack Habits (Ferraristuff)
Intermediate Member Username: Ferraristuff Post Number: 1063 Registered: 4-2003 |
Anybody who can "translate" 394,000 1977-US$ and 300.000 1960-US$ to 2003-US$? Just to get an impression. Jack | ||
| William H (Countachxx)
Advanced Member Username: Countachxx Post Number: 3158 Registered: 2-2001 |
not sure about Enzo but I think Piero Lardi Ferrari is probably worth well over $100M US. I heard he has a yacht over 100ft long. that thing has to burn some $ | ||
| Jack Habits (Ferraristuff)
Intermediate Member Username: Ferraristuff Post Number: 1061 Registered: 4-2003 |
Hi Thomas, the 258KK is the sum that was transferred. It was valued at 348KK. I still can't find 1960 exchange rates. Jack | ||
| Thomas I (Wax)
Member Username: Wax Post Number: 348 Registered: 7-2003 |
"That document was made up on July 17, 1977 and APPARENTLY, if I understand it right, a sum of 258,000,000 Lira was transferred on August 18, 1977. There is a part that I can not decypeher that deals with the difference of 90,000,000 lira." -Jack Habits ITALY -- SPOT EXCHANGE RATE, LIRA/US$, '71-'89 15-Jul-77 883.0000 (17th was a Sunday) Presuming the Lira value of 883.000:1.00 was adhered to, the value was $292,185.73 in '77 Dollars. 18-Aug-77 884.9600 However, on Thursday, August 18, '77 the 258,000,000 Lira value would have been $291,538.60 in '77 dollars. 1960's? Beats me. "Interesting" bit of history on Italian Lira | ||
| Jack Habits (Ferraristuff)
Intermediate Member Username: Ferraristuff Post Number: 1058 Registered: 4-2003 |
Can't find any rates earlier than 1971 so quickly but by then the US$ was in the mid-600 Lira. Assume that it was around 500 by 1960? That would make the real estate worth some 300K$. But... I agree with Ken A's comment. Jack | ||
| Jack Habits (Ferraristuff)
Intermediate Member Username: Ferraristuff Post Number: 1057 Registered: 4-2003 |
I found an exchange rate for July 17, 1977: 882.5 Lira to the US$. That would make the value of Scaglietti some US$ 394,000 in 1977. Still looking for 1960 exchange rates. Jack | ||
| Ken A (Zff)
Junior Member Username: Zff Post Number: 143 Registered: 12-2002 |
What Enzo Ferrari had when he died, you couldn't buy with all the money in the world. | ||
| Jack Habits (Ferraristuff)
Intermediate Member Username: Ferraristuff Post Number: 1056 Registered: 4-2003 |
Don't have the exact answer to your question but I do have some interesting documents that give a LITTLE insight. On November 16, 1960 the real estate of SEFAC was valued at just a little over 150,000,000 Lira. I would need to dig up historical exhange rates to translate that to $$$. I also have documents on the SEFAC / Scaglietti merger from which I understand that Scaglietti was worth 348,000,000 Lira at the time of the merger (and YES, that DOES include the 50cc Vespa scooter, registration # 172483 and the Scaglietti real estate). That document was made up on July 17, 1977 and APPARENTLY, if I understand it right, a sum of 258,000,000 Lira was transferred on August 18, 1977. There is a part that I can not decypeher that deals with the difference of 90,000,000 lira. So, no answer to your question but still interesting I think. Jack | ||
| Vincent (Vincent348)
Intermediate Member Username: Vincent348 Post Number: 1052 Registered: 4-2003 |
I don't know how much he made, but I can only assume that he was happy. Anyone who pursues a dream to the end: can only be. Vincent | ||
| Vincent (Vincent348)
Intermediate Member Username: Vincent348 Post Number: 1051 Registered: 4-2003 |
God bless that man!  Vincent | ||
| Nebula Class (Nebulaclass)
Member Username: Nebulaclass Post Number: 510 Registered: 11-2002 |
I was wondering this today. I would assume that he was fairly loaded, but then I started to think about it. Up until the mid to late 90's, Ferrari was never really "financially" sound. As you all well know, the company almost went broke in the 80's. Ferrari didn't have a championship racing team for nearly 20 years until Schumi came into the picture. I would assume that they made a good amount of sponsorship money, but racing earnings from wins probably weren't that high. Now, I know the company probably made money, but it couldn't have been a whole lot, considering that maybe 4000 cars were produced each year, and a lot of the money made from cars went right back into development for road and race cars. Any thoughts? |