That’s great for the new owner, but short of changing turbos or something I can imagine what could possibly cost so much.
I can check but I recall they did new fuel tanks, plus deferred maintenance work covering everything mechanical.
Upon review of the auctioneer's notes I think $60k was the service work to cover the deferred maintenance when the car came our storage and $10k was Classiche = $70k, most of which was generated by Gran Touring, with the balance and Classiche Certification by Ferrari of Newport Beach. A wise man once told me 30 years ago: Joe, these are like Pelicans, they usually come with large bills.
The Classiche cert was listed as submitted and pending for the Monterey sale...and is still listed as submitted and pending for this upcoming Miami sale. 6 months later...is that typical?
Yes, I personally know of a car which is still waiting for it's Classiche Certification red book 8 months after submission of the application by the Ferrari dealer, John Amette said to me yesterday "it is now taking an inordinate amount of time. I’m not sure if this is because the new system and process we have to use or if they are having difficulties with the company that prints the portfolios".
Maybe the owner tasted how good driving really is, and wants to move on to a higher mileage example Sell the garage queen to the next investor
2024 auctions are featuring a lot of 'repeat' F40s so far. Mecum Kissimmee sold a car that was offered at Bonhams Amelia last year. RM Miami is about to offer a car they sold at Monterey last year. Mecum Glendale is about to offer a car that RM sold at Monterey in 2022.
This repeat activity tells you that there is a proliferation of speculators who own the cars, and not just with F40s, in recent years we have seen an increase in Ferrari Supercar ownership based purely because of their upside potential, and therefore their more frequent short-term sales are motivated by the desire to capture immediate profit, rather than by life's circumstances as you would see with long-term enthusiast owners.
Please keep in mind that not all supercars officially described as "sold" at some auctions have actually been sold...... Which means they are just pushed out of the warehouse again and again....... Marcel Massini
I posted a dedicated thread for this because it's coming to auction alongside a 288 GTO, F50, Enzo, and LaFerrari, but Euro-spec F40 #84169 is coming to auction in Toronto via RM in a few months. The estimate is $2,750,000 - $3,250,000 USD which makes me believe this is probably a very low mileage, non-cat/non-adjust example to carry that estimate as a Euro-spec car (details are not available yet). For reference, the Euro-spec F40 that RM is offering at Miami very soon wears only 1,200 km and carries an estimate midpoint only $100k higher. https://rmsothebys.com/en/auctions/dd24/dare-to-dream-collection/lots/r0036-1990-ferrari-f40/1446420 Photo Darin Schnabel ©2024 Courtesy of RM Sotheby's Another thing to note. I previously posted that this year featured zero F40s between Scottsdale and Paris, whereas last year featured 5. Now, assuming Bonhams' Amelia catalog is complete (the rest are), we have one F40 between Amelia and ModaMiami, whereas last year we had 3 at Amelia. So, 8 last year between the first three big auction weeks of the year, and 1 this year. If we include Mecum Kissimmee and Glendale, the score is 10-3 in favor of 2023. Combine this with the fact that so many of 2024's offerings so far are repeats of very recent auctions, and there are just way fewer 'new' F40s going to auction so far this year. Not sure if there is anything meaningful to glean from this or if it's just a blip, but interesting to note. Speaking of, I was made aware last week during a dealer visit that a recent high profile auction sale was fake. That dealer, the consignor, simply 'bought' their own car (not an F40). Image Unavailable, Please Login
I think all this repeat activity is a characteristic of speculative activity as I mentioned above, but, you will see some new F40s come to the market this year.
Details are up now, and #84169 is indeed non-cat/non-adjust and carrying 1,606 km/998 mi. https://rmsothebys.com/en/auctions/dd24/dare-to-dream-collection/lots/r0036-1990-ferrari-f40/1446420 Of all the F40s covered in my market analysis, the only ones to come to market with less mileage are: #92560, 749 km, seen for sale by Girardo & Co. in the UK in Feb 2023 #84116, 932 km, offered by RM last August in Monterey, and again next week in Miami (this time with 1,200 km) Of course with the usual caveat that not every F40 offered for private sale ends up in my data collection.
Lowest mileage we have sold, a USA car, it still had the window sticker glued to the windscreen, I'll tell this story another day. Image Unavailable, Please Login
Is the F40 more likely to double or halve from here? I am obviously a bad indicator because I thought I was a genius for selling my 1,200 km F40 for $1.6m. Ferrari super cars are hot right now and prices for great cars are rising steadily. Does an F40 cap out at some point?
I'm probably slightly bias, as I own 2 F40's and 2, 288 GTO's so my feeling is as I have said for the last few years now going back to 2016.. We are talking grade A cars.. so super low mileage and super low ownership.. perfect cars.. F40.. will top out at 5 million USD, F50 at 8.5 million, Enzo at 7.5 million and the 288 at 10 million.. that's where I think these will end up in 5 or so years...
