The F50 Thread

Why did the styling mock up have US side marker lights?

 

Not sure, all I was given was these pictures from a digital display showing some of Pininfarinas work.

 

F50s on the Highway 1 during Car Week
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RM just sold the F50 for 9.25 million US, just shy of 7 million GBP...

 

Nice to see the Brazilian F50 got awarded best in class at the Quail this year. Goes to show good restorations can be done anywhere if you have the right motivation and $$.

 

To understand F50 values, I find it helpful to look at three drivers:

1. The general Ferrari market trend: are assets inflating or flat or values are declining?
2. The specific model (F50 here) inflation as compared to the general Ferrari trend: Has the F50 followed the trend or diverged and, if so, then in which direction and to what extent?
3. The quality of the specific car/example of the model (F50 here). Different features (how a given car ranks on the various dimensions of quality e.g. originality or condition) impact the value of a specific car. You can visit the thread F50 Perfection: A Guide to Excellence for the drivers of quality, and you can also visit the thread F50 Valuation: A Spectrum to see how these drivers of quality can determine value by using the Bloodline Valuation Model discussed in post #15.

I will discuss mainly 1 and 2 (with just a word on 3).

1. Ferrari Market trend
In Monterey there were many sales, so we can extrapolate some trends. I found that numerous Ferraris (90’s onwards and the special ones) have witnessed quite some growth. For example:

• 512 M: $912k (Est: $500 - 600k)
• F40: $3.85m (Est: $2.4 - 2.6m)
• 512 TR: $775k (Est: $350 - 400k)
• F40 LM: $11m (Est: $8.5 – 9.5m)
• 599 GTO: $2.04m (Est: $1.3 - 1.6m)

Some might attribute these results to the cars being extra special (e.g. very low mileage). However, I added the estimate (which should already incorporate that ‘specialness’) and we still see growth outside the estimate range.

Also, a LaF sold for $5.2m and a LaF Aperta sold for $6.7m, which are strong numbers.

So, the Ferrari market is hot and experiencing growth.

2. F50 inflation vs Ferrari market
In Monterey the average of the two F40s which sold (excluding the blue non-standard one) was $3.83m. If you want to include the fourth F40 which had a high-bid of $3.1m, that is $3.42m all-in, then the average of the three would be $3.7m.

In the UK, red F50 prices were double F40 prices for quite a while. Recently F40s averaged £2.3m and F50s double that at circa £4.6m. In June/July, three red F50s sold (from the same country) at an average of £4.76m. (One was via a facilitator who imported it to the US and sold it to a US supercar dealer, so I included the 2.5% import duty plus transport cost plus facilitator margin). That translates to £4.76m * 1.35 = $6.4m average for a red F50.

Now after the Monterey results where F40s averaged $3.8m and using the rule that F50s are double the price of F40s, we get $7.6m ($3.8m*2) for a red F50. If you use the $3.7m F40 average, then you get the F50 at $7.4m.

Another way to derive current F50 prices is to use the result of the F50 sold at RM for $9.25m. Using the Bloodline Valuation Model mentioned above (which uses premia for where the car ranks on the key dimensions of quality) let us assume that a yellow colour US-spec car is 25% more expensive that a red F50 (Euro-spec). In other words, if a red Euro F50 is at $7.4m, then after applying a premium of 25% for yellow colour/US-spec we get a value of $9.25m ($7.4m*1.25). Note that some will say ‘hey there is also a R. Lauren premium’ but then others will counter how about the condition, lack of original Warranty & Service book, the shortfall in history, maintenance, and accessories of the yellow car.

So, after a lull of 2 to 2.5 years, the F50 market started moving upwards in the last 6 months. In August ’24 the red F50 price was at $5.5m, in February ’25 it was $5.5m, then it moved towards $6.4m by June/July ‘25. Now it is at $7.5m.

The Monterey auctions have catalysed the Ferrari price inflation. A shrewd collector told me “It’s the start of the fear. You need to buy today as it will be more expensive tomorrow. Market sentiment follows price.” And we did get a clear resetting of prices upwards. The F50 model is on its way to $10m.

 

A perfect representation and could not agree more

 

Excellent analysis & very well-worded.

 

A Noir Car >

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- JmeSupercars

 

Monterey, a few days ago.

Marcel Massini

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Includes repainted ones (color changed).

Marcel Massini

 

103922.
Born red.

Marcel Massini

 

@Marcel Massini Merit Partners brought out two yellow F50's this year to Monterey Car Week. One car being 107030. What was the other one they brought out?

 

Could be 106915 as they were also marketing it. (Car 284/349, showing circa 26k km recently).

 

Before coming to the US, #107030 (307/349) had a modified engine, boosted to an F50 GT engine (below document was presented), as the seller from Italy said a year ago. I wonder if it still has the same engine or was it returned to the original condition?

Dear @joe sackey , I hope you are remember this specific F50?
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Non-originality/modification extends to the interior too (Schedoni did not manufacture yellow stitching seats).

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That's the first F50 that I've seen that has some kind of dirt on it!

 

Indeed!

 

Thank you Karim for the information, always detailed photographs.

 

https://www.instagram.com/charlie_ferrari_service/
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It would seem that the market really doesn't think kindly of modifications to F50s. 107030 was actively (aggressively?) for sale for several years.

 

These Halo cars are only original once.. Always buy the best in class.. if that's not possible, pass and move down to the next car group within budget ( the F40 ).. Collectors only want original top tier cars.. thats not to say there is not a place for these Halo cars that do not fit into this remit.. But price will reflect this significantly.

 

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