is the bubble due to burst?

Big horse power Chain drive - great full history - the proper Duesenbergs are fetching well north with proper body configuration and number matching
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1912 Simplex 50HP Tourer

 

Thanks, that would have kept me up all night.

 

It is.

The Eleonora Sears Simplex Purchased new by Harold Vanderbilt for Eleonora Sears, Ex-Charles Chayne

https://www.bonhams.com/auction/28009/lot/140/1912-simplex-50hp-5-passenger-torpedo-tourer/

 

https://www.motor1.com/news/650529/ferrari-set-sales-record-in-2022/

Ferrari had a fantastic year in 2022, according to the automaker's newly released financial results. It set a new sales record by delivering 13,221 vehicles, versus 11,155 models in 2021. The net profit also achieved new highs of €939 million ($1.024 billion at current exchange rates), whereas last year the figure was €833 million ($909 million currently).

 

Yes slowing down and releasing some air.

 

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Why so low for the lusso?

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Way too many Lussi on the market.
All prices were low.
Except 512 TR Cabriolet. And Hill Memorabilia.

Marcel Massini

 

10 years later...

https://bringatrailer.com/listing/1972-ferrari-dino-246-gt-5/

$512,246

 

They're cute cars, but I don't understand this. Can remember when nobody wanted them and they were considered cheap.

 

Cars that used to be US$ 100 Grand are now US$ 1 Million, cars that used to be US$ 1 Million are now US$ 10 Million, and so on and on.
Money has lost its worth. It's that easy.
Besides that, classic cars today are lifestyle, every average household has at least one in the garage. Nothing special any more.

Marcel Massini

 

That hurts!

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+1 that's it in a nutshell.

 

"The reason for the collapse is simple," says Michael Sheenan. "Prices went too high. In 1985, everyone involved in the collectible-car market was an enthusiast. In 1989, they were all speculators. There are only so many enthusiasts who can afford $1 million for a car. The market finally ran out of end-users "

Road & Track, 02/94

 

Like it or not, classic cars are now considered a valid alternative asset class. Cars are volatile just like the stock market. Usually, plus or minus 10%. The top end of the market which is the most high priced Ferrari's have a volatililty of plus or minus 25%. People are conditioned to accept the fact that their cars will lose significant value. The only people that this will hurt are the flippers who bought cars on interest only loans. In a correction like now, the top end will over correct and the bottom end will under correct. Here's a pre-covid article for reference. The next catalyst will be high net worth millenials coming of age and buying their dream cars that they drove in video games like Gran Turismo and Forza. If the economy recovers with a federal reserve engineered soft landing and interest rates go back down again, the next uptick in classic cars will begin. Matter of time but we cannot predict when.

https://wolfstreet.com/2020/06/15/classic-cars-as-asset-class-get-hit-high-end-prices-hit-hardest/

 

Hemmings had an article on this very topic just this morning:

https://www.hemmings.com/stories/auction-market-reset-2023/?utm_medium=email&utm_source=EDaily&utm_campaign=2023-11-17​

 

1461GT is up for sale at Copley Motorcars, I doubt it will match the 17,990,000$ it made at RM a few years ago! Too bad it’s been repainted in Red after a beautiful restauration to its Le Mans livery…
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1451GT...

 

Sorry I am already tired of my week ! I meant 1451GT of course thanks

 

Wexner thinning the collection.

 

Running out of original cars to paint Rosso Rivendita, apparently.

 

Poss

Possibly to finance acquisition of The White Collection? Every lot is a blank canvas.

 

The Porsche collection?

 

Meanwhile, Ferrari is even more profitable in 2023 when compared to 2022

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https://karenable.com/truly-competitors/

 

An email received today caught my attention. No affiliation. Two points:

• Looks like Hagerty is suddenly getting into the auction business.
• George Foreman is unloading 51 vehicles. PSA- A few Ferraris in the bunch.

https://www.hagerty.com/marketplace/search?sortBy=nearest&zipCode=77336&distance=5&type=auctions&utm_source=SFMC&utm_medium=email&utm_content=23_MKT_MKT_USA_EML_UN_UN_Collection_Foreman1&hashed_email=8e43f6a5abf43ff70e0771781e4993de6c08fd1510eadb1414b4ce6b84c34e12&dtm_em=8e43f6a5abf43ff70e0771781e4993de6c08fd1510eadb1414b4ce6b84c34e12​