No one has ever explained the value of these vehicles on the market as well. A very professional presentation, I love it, thank you Karim. I hope Ferrari Chat (Mods, Rob) will wake up because I find it a shame to see some consultants or others who are unable to create such graphics and not recognize those who know how to engage the public and move the audience on this forum.
I had noticed this, (as nice as it is), I thought it was not correct and looks wrong, as the stitching on the binnacle would of probably been done too as it’s visible as well as the quilting on the roof ( both of which are not and just standard stitch), the yellow stitch invites the eye to inspect further and to me from the pics I’ve seen the leather too just looks too new, so if it had engine upgrades I wonder if it had interior upgrades and all been reverted back for resale ?
Hi Kris, Whatever you re-stitch, then the base needs also to change, so: the leather and black velour-type (behind each shoulder) for the seats re-stitching the top material for the binnacle plus the rest of the dashboard running across under the windshield as they are the same grey material (in case binnacle was re-stitched) The roof material/alcantara for the roof (in case it was re-stitched) Regarding whether “all been reverted back for resale”, I believe it would be almost impossible to find all the genuine fabric/materials that were originally used during production. Lookalikes yes.
Hi Karim. Yeah that was my thinking regarding re-stitching original material, it does look nice but I just wasn’t 100% sure if it was a one off factory option, ( but I knew the F50 expert would know ). If I’m not mistaken the original owner is possibly the owner of a new car company in Modena ( was a mattress maker now turned car manufacturer) called Giamoro automobili and just launched a car called Katla ( and the launch car is yellow too) with a purpose built hot vee quad turbo V12 producing 2146hp. He was also one of the early investors in Pagani according to Top Gear Magazine, which may also relate to or help explain why the car possibly had an upgraded engine
Rosso Barchetta in Los Angeles this afternoon. Image Unavailable, Please Login Image Unavailable, Please Login
Well..it's not pretty to say the least. https://www.instagram.com/giamaro.automobili/?hl=en https://www.topgear.com/sites/default/files/2025/05/IMG_0069.jpg
Well besides the car, I enjoyed zooming in at the faces of each surrounding the car in your TopGear picture. Not sure if they happen to be the engineering team, I would feel comfortable driving the car… Image Unavailable, Please Login
Hi Christian, It’s a pleasure that you find some value in the analysis! Well here are some more insights on values and the market pre and post Monterey ’25. First, the past: the Big 4 Halo cars did very well over the last dozen years. However, the F50 was way ahead on compounded annual growth: Image Unavailable, Please Login Then, the present: How to find the price of a standard Euro-spec red F50 following the Monterey F50 sale: Image Unavailable, Please Login And does such analysis match with recent F50 transactions? Image Unavailable, Please Login Finally, let us look at the trend over the last 14 years of F50 price changes. Quite amazing and insightful. ‘Relentless growth’ comes to mind despite numerous flat periods. Is it the start of another big growth cycle? Image Unavailable, Please Login
Fantastic Karim, I love this! I savor this kind of analysis. It's precise, clear, and look so simple, behind it is a lot of work and very detailed observations. The first one is about the rise of the Big 4...very strong. The second about the skyrocketing of the F50 with this way of detailing RM sales... Extraordinary! I love it, thank you Karim for this deep and precise work.
Thank you for the very useful and instructive insights, dear @Karimsaid . It will help me a lot in my work. And what will be the mileage differential for a similar car with 1000 km?
You welcome and happy to hear that. Regarding your question, I take it that you are asking about the premium for mileage differencial between 1,000km F50 and a 8,500km F50, all else equal. That is shown in the first example of the 3 Hong Kong cars (add 15% to the price of the 8,5k km car and you get that of the 1k km car). So the car was purchased (£4.95m to £5m) ‘Broker Price’ then transport and insurance to the UK (£50k), then recommissioning basic (tanks: £20k, tyres: £5k, general: £20k), Classiche: (£15k), interest expense (or cost of own capital) over 3-4 months from purchase to sale: (£125k). So total cost £5.2m. Normally a main broker would ask £250k for a Sale or Return transaction of £5m. But because the broker risked his own limited funds and did the work on the car, I would think he might want to double that and make £1/2 million on top of his £5.2k cost. So then the ‘Retail Price’ would be £5.75m. This was my initial forecast. But the broker might think ‘I have a very low mileage at 1,000 km, let me go for it especially after the Monterey amazing sale’ and price it at £6m. That is the number I took. Then you discount by 15% to get to a 8,500km car (£6m/1.15) and you get the £5.2m. If you assume the broker will go retail price at £5.75m then your 8.5k km car would be £5m. Hope this clarifies. Note: of course the tricky bit with the very low mileage cars is the mileage legitimacy. Whether genuine and traceable. But that is another topic all together.
So I'm hearing that a lot the Halo car's that were transacted earlier in the year from Europe to the US, even thou they were paid for earlier , but delivery was delayed due to recommissioning and Ferrari certification have been hit it with a blanket 15 % tariff.. One GTO I understand has a 1,048,699 USD bill onto the purchase price.. It's with the lawyers now to try and sort out.. There are a lot of restorations which are being carried out a present which are US bound. so these will get caught in the tariffs as well..
BEFORE I know of a US collector who redid his GTO in the UK (with the best in the business) and wanted full perfection with toolkits and accessories (again he commissioned the best for that). But then there was an edict ‘my car is leaving completed and with all accessories arriving to the US in March (before the April tariff date). He made it (but everybody was running around to make it happen). I think he will satisfactorily smile when reading this. CURRENTLY After the introduction of the tariffs by a while, I excitedly informed somebody I know in the US that I have good news: “on F50s, given their age, the applicable tariff is the 2.5%”. He answered me confidently “no new news, I knew it from the beginning”. So, I was impressed. A couple of months ago he bought a very expensive car into the US and sold it on after paying the 2.5%. I hope he does not get a bill of a further country tariff of 15%… AFTER As the tariff saga is ever changing, may be when things settle down, the situation will not be as bad or ambiguous as now. ADVICE It might be prudent not to outguess the tariff changing situation (some agents think they can get it with just 2.5%) and simply store your car in bonded status in the UK or wherever it is in Europe (if they have the equivalent status). When the dust settles and the picture is clear and the market has adjusted (i.e. prices in US vs prices in UK/Europe) then one decides. If it’s too expensive to bring back to the US, then come and enjoy it here or, alternatively, sell it in UK/Europe (as long as it’s not the unwanted US-spec). DIMINISHED SUPPLY Now the US market is sealed. The same goal of protecting the US product, has extended to these lovely 25-40 year old machines. This will make US collectors buy their F50s (and similarly low-production supercars) only from the US, as getting them from Europe will cost them the 15% (or 15%+2.5%) extra. So it will restrict the supply to only the F50s available in the US. This in turn will increase the US-based F50 prices. So UK/Europe-based collectors will not be able to buy (the Euro-spec) F50s from the US. In other words, the supply to the UK/Europe will also shrink. This, in turn, will increase the prices of F50s (and other low-production supercars) in the UK/Europe..
It will be interesting to see how all this develops.. For the buyer of the 288 GTO,( A great super low mileage, low ownership car with total provenance ) at present his final cost is around 7.5 million Euro...( with Tariffs ) this car was bought at the start of 2025 before the Halo cars started to move up. Its even harder for the dealers that bought cars.. Their margins will have to incorporate this extra charge.. so you could see prices reflect this.
I think away around them is still possible..you can import cars around the world at the price paid buy the current owner.. so maybe the way round would be to import the said car and sell it when it is in the country.. I know a good friend of mine did this in the middle east.. car was imported in on the original price paid not the value of the car... then the car was sold... if you have owned the car for long periods this may work for some people..
Yeah, has a modern Noble look to me but very much like most modern cars, j….. but it is the transition from making/selling mattresses to supercar manufacturing, but also creating a purpose built 2000hp+ engine. That is an incredible feat if it is pulled off successfully
Let me see if I got you right with an example. Assume an owner in the UK who bought many years back his F50 for £1m and is now a willing seller at £5m. Route 1: US buyer buys it at £5m and imports it to the US and pays £750k duty (15% * £5m). Landed cost to US buyer: £5.75m Route 2: The seller imports it to the US and pays £150k duty (15% * £1m). Then sells it to the US buyer at £5.15m. Landed cost to US buyer: £5.15m. Savings of £600k. If the above is true and legal, then this would open a wide arbitrage door. US F50 prices will be 15% more expensive due to the sealing of US borders with tariffs vs UK/Europe prices (£5m in our example for UK and £5.75m for US). A US dealer targets UK F50s with long-term owners who have their original purchase invoice and follows Route 2 above and then owns an F50 in the US for £5.15m when the going price in the US is £5.75m. Such dealer will be happy that tariffs were introduced!
Yes this is my understanding.. Of course the caveat's would be.. This would only really work for long term holders that may sell, also wether someone would challenge the transaction.. but this is something that has happened to a car that went to middle east... Cars can be imported to other countries on the price paid by the owner of the car.. what happens after that is down to the owner.
I am a long-term holder of F50s with all the original authentic purchase invoices dating from 2012 for the oldest purchase to 2021 for the latest purchase (with a current price of up to 14 times the original purchase price). However, I would never take part in such a scheme as it seems to circumvent policies in place (e.g. tariffs) that are the rule even if I totally disapprove of. However financially ‘beneficial’ such an approach may appear, it is ‘optimisation’ on the wrong side, I believe. But that is my view. Others may see it differently.
So my view is this option would work if you intended to reside or spend time in the said country, then you are free to do what you like with your car.. We are going to be in the US due to my daughter studying in 2027/28 and will be there for a couple of years... I will probably bring some of my collection with me and pay the import taxes on the cars. my first purchase was 2001, then again in 2010 and the last 2024.
Hope that (a) you pay taxes on your purchase price and (b) by then the tariffs on older cars will be back to 2.5%. Then you will be a happy man. (Oh I forgot to add, and (c) high supercar price inflation during this period…)
