Enzo Market Question

I know that this is a VERY crude indicator, but here goes:

For years, it was very tough find an Enzo for sale. For the last 3 or 4 months, they seem to be for sale where ever I look. In the DuPont Registry for the last 3 months there are no less than 5 for sale.

Is there a downward movement in prices?

 

Enzo replacement coming out soon. Some owners may feel the sales prices on these cars have peaked at least temporarily. Especially if they paid top dollar for it.

 

As far as I am aware, there have always been a handful of advertised Enzos for sale, and another handful of Enzos available privately, for the past few years. I'm not sensing that the number of cars available has changed.

In the past 2 months Ive sold two Enzos. During the course of sourcing the right car, all the aforementioned cars were considered/looked at. The sense I got was that the cars available are owned by people who are both willing & able to wait to get what they are asking (or close to it). This notion was reinforced by the fact that my clients paid strong $ for the cars we chose, and accordingly, based on recent activity I would have to say that there is no downward movement in prices.

 

No not at all, very much the opposite in fact. Cars have SOLD for much more money than they would have last year, or at any other point in the last 5 years.

 

Question: Have any of the Enzo's you've sold or considered been Classiche' Certified? What is your opinion of the Classiche' program? Does it add value or would it be a factor when considering two like cars?

S

 

I guess that buyers now have enough money to buy them. Prices on all cars have been challenged since 2007.

 

This:

 

I think its more of a consideration with the 20-plus-year old F40 or the 27-year-old 288 GTO. I'm not sure Enzo owners or buyers care.

Personally I'm cool with it, I certainly wouldn't base a purchase on it alone, but if 2 identical 288 GTOs are offered and one has it, that will certainly pique my interest.

 

Not sure about the personal financial standing of typical Enzo owners having changed one way or another.

But, I will say not all cars have had their prices (values) challenged since 2007. Case in point, the 288 GTO. Their prices have only steadily increased both before & since then.

 

A couple Enzos have been officially Classiche' certified one of which had previously burned to the ground. I have friends that have had great experiences with the Classiche' process and other friends that say its just Ferrari giving itself another license to print money. It has been my experience that it does not add value to an Enzo.

 

It certainly would add value to an Enzo that has previously burned to the ground. Without the Classiche certification, I don't think any serious buyer would consider it, unless it went for pennies on the dollar. With the Classiche, it has Ferrari's endorsement/stamp of approval, and would fetch a lot more. It would probably sell for close to the value of similar Enzos that haven't burned to the ground.

 

Trust me the fact the car had been Classiche' certified did nothing to change the value of the car. However, the fact that Ferrari built a brand new Enzo and gave it the serial number of the burned car, that did make the car valuable.

 

Sorry, I didn't realize Ferrari had built it. I thought someone else had, in which case Classiche might go some way towards reassuring the buyer about the quality of the work. For a car rebuilt by Ferrari, I completely agree with you, Classiche certification is pointless and adds no value.

 

Thank you,

s

 

Interesting, thank you.

S

 

Back in March, a sports team owner purchased a Classiched Enzo, with little more than a thousand miles, for just north of $1.5MM.

 

I thought that sale was a strong number for a red car.

 

So did I! To what such a high asking price can be contributed is anyone's guess. The original owner is well known, but not a celebrity; the mileage wasn't super low; and I can't imagine a Classiche certificate adding that much value - especially since Classiche will certify anything if the check is big enough.

 

All I can say is Go Giants!

Seriously though, the black/red car brought the same, influenced by this sale. I represented both buyer & seller in that next deal and they were both very happy.