if the 330gtc is 700k...

David,

You make good points!

Assuming there IS a future and that things of value are not confiscated and brought into the “collective” then I would expect the 550 and 575 to be valuable classics. They have a “retro-ness” that is not shared by the previous V12 models produced after the late 60’s. The models that followed the 550/75 are characterized by being styled after deep sea fish. Not to disparage that styling but it puts the 550 and 575 in a unique position between 1970 and the present.

I think the gated V12 cars will have a special place as well and this includes all the 550s and a small number of the 575s.

Regards,

Phil

 

I don't consider myself a collector, nor particularly well informed on the topic, so....

The GTC example, to me, says the car appreciated in value from when it was about 30 years old to today, when it's about 50 years old. I assume the majority of buyers are between 50 and 60, perhaps enjoying the romance of both a period of motoring history and reliving their own childhoods when such cars were icons and beyond the reach of most.

I have not tried to catalog when the mainstream products from Maranello appreciate to know if the GTC example is generalizable but it seems overly optimistic to suggest less than 20 years and a bit pessimistic to suggest more than 40 so the 30 year mark seems a reasonable starting point, should the dynamic occur to more current vehicles.

I suspect the "gated-era" for cars is coming to a (100-year) close, whether mandated by taste ("drive like Mike" or the aspirations of the "video game" generation), technology (more fuel efficient / technologically efficient to produce) or user training (how many of today's generation learn on a manual transmission?). 599 and on, really is better (or only available) as a paddle shift car and my belief is the 550/575 are the last true gated 12 cylinder cars. Using year 2000 as the production era, then 2030 marks one possible appreciation curve inflection.

If the buyer remains a 50-60 year old (the group most likely to have the disposable income or investment funds to acquire the car), a 2030 "acquisition point" means they were born in the 1970s or 1980s and are likely in their 30s today and learned to drive 15-20 years ago. Part of a bet on appreciation is therefore understanding how many learned to drive a stick and would yearn for one in a front engined 12 cylinder Ferrari in 20-years? I'd guess a reasonable number.

The "fly in the ointment" for this logic is of course many 30 plus year old Ferraris have not appreciated to any degree (308s) and i think it is a brave man who bets the next crop (e.g., 348s, Testarossas) will do.

In sum, I don't have the wisdom to opine on why some cars appreciate, so don't. And whether it is the sumptuousness of the body shape, sound of the engine, delight of the driving experience or racing heritage "proximity" that drives this.

My beliefs are:
- they are unlikely to depreciate much from here. Indeed they may see modest appreciation;
- you will have to hold the car for another 20 years to see the any real appreciation benefit. Even then, unclear given the numbers if it will outperform other investments;
- hold on to the car because it's what you want and getting into the driver's seat and starting the car always feels like a special event. If it doesn't require a real estate tax like payment every few years, great; if makes a little bit of money for you, even better; if it yields a nice contribution to retirement, or an estate transfer to your children even better, but don't buy for this reason

Philip

 

if efficiency, competence, durability, and build quality were the sole arbiters of price, then the toyotas would be the highest priced cars in the world.

they arent.

and similarly, the 550, although a fantastic car in every way, will never equal a 330gtc in value. the price vectors for the older car are just different.

 

There were 600 330 GTCs built, they have a SOHC engine and are Enzo era cars. There were 3083 550s and 2064 575Ms built, and they were designed and built long after Enzo died. The Maranellos are better cars than a 330 GTC, but not better Ferraris. Same can be said for a Dino vs its several generations offspring, the 458.