What is happening with the Pista market?

Again, as I originally stated. The speciale and pista were already trending up incrementally. This auction was the catalyst that started the recent massive price increase. I was about to buy a speciale but the next day every speciale on the market was bumped $75-$100k.

and one off auctions influence markets ALLLL the time. You think if a basquiat sells for an astronomical price at an auction the entire basquiat market isn’t effected? Happens all the time.

 

https://bringatrailer.com/listing/2020-ferrari-488-pista-35/?utm_source=Iterable&utm_medium=email&utm_campaign=campaign_2648439

 

Good to see it was driven.

 

Apples to oranges comparison and that's being generous. Discussion is about Ferraris.

 

It’s actually apples to apples. You stated “one sale does not create a market” and I am stating that is factually inaccurate. Doesn’t matter if it’s cars, art, baseball cards, comics books etc. One off Auctions or one off sales massively impact markets constantly like the example I gave re the Speciale. It sold for almost $150K - $200K over the current market value at the time. So a car that was appreciating moderately exploded as a result. That then caused all the more modern Ferrari VS
Models like the Pista to skyrocket. Like this article below states, a rising tide floats all boats.

https://www.hagerty.com/media/market-trends/hagerty-insider/will-other-classic-car-values-benefit-from-the-record-mercedes-sale/

“This news, in other words, effects Jaguar D-Types. Aston Martin DBR1s. Don’t forget the Maserati 300S, the Ferrari 250 Testa Rossa, and a handful of others. Those cars are directly affected.

“It’s probable that a number of these cars will soon double in value” says Rob Sass, the Editor-in-Chief of Panorama, the Porsche Club of America’s magazine. “Think about it. The $100,000,000 ceiling wasn’t just punched through, it was shattered.”

 

The current 2 examples on BAT should perhaps give at least some insight on actual transaction figures. I think the asking prices on Pista’s are super ambitious and perhaps a little uncoupled from reality and I say that as an owner of an embarrassingly low mile Pista coupe.

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One of them is a Canadian example, which on BAT generally does not do well (given that the audience is generally very US-centric).

 

first pista ive seen with a painted badge love it

 

True enough, but it does have close to delivery miles (114) which might cause enough to overlook that distinction.

 

I can help you not be so embarrassed by taking her out for a few miles!

 

Tarrifs a major issue on the Canadian car. Let’s see what happens with the other next week. I bet it gets close to 750.

 

Actually just looked and its already at $650 with a week to go so could possibly go higher.

 

Love Ford vs Ferrari
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Canadian BAT Pista went for $615K to an American buyer. Serious price for a Canadian car which will incur tariffs.

 

How does that work?

 

What do you mean exactly? Believe the winner Paid American dollars and now needs to import it. Tariff is 25% so figure an additional $150K plus whatever other costs associated with importing the car. Probably puts this Pista around $800K

 

There are no tariffs imposed on used cars going from Canada to the US. Duties and expenses, yes, but tariffs do not apply

edit- OH WAIT, apparently as of March this year, they did impose a 25% tariff including used cars, however ir is based on the country it was built. So if a car was built in the US , went to canada and you bought it and brought it back to the US, no tariff.... jeesh, my bad.

 

I don’t think that’s accurate. The car was manufactured in Italy so it’s not exempt. Used cars imported from Canada are subject to the 25% tariff. If you’re purchasing a used foreign car in the US there is no tariff.

 

Just saw the edit. Yeah it’s crazy yet people seem to be ok with paying them when they want something. Huge number for that Pista…..

 

Here is two....