price check on an Enzo | FerrariChat

price check on an Enzo

Discussion in '288GTO/F40/F50/Enzo/LaFerrari/F80' started by Randy, Jul 22, 2015.

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  1. Randy

    Randy Formula 3

    Nov 9, 2003
    1,012
    Illinois
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    Randy
    Thinking about pulling the trigger on an Enzo but I saw this one just sold for $1.8, plus I think there was another that recently sold under $2mil. Are the numbers coming down, or is this just because it's a converted European car?

    2004 Ferrari Enzo

    Lot No. 2100

    Auctioned on Saturday, July 18, 2015


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    Sold for $1,870,000

    At the Paris Auto Show in September 2002, the world waited for the successor to the Ferrari F50 with anxious anticipation. The introduction of a Ferrari supercar was something that happened approximately every 10 years, and the car that emerged from under that red car cover would certainly set the bar for performance cars for years to come. The company was in excellent shape, as it was just two Formula One Grands Prix away from securing another World Championship, and they were selling more cars than they ever had before. The car they were about to introduce would prove to be the “icing on the cake” of a wonderful year.

    Instead of continuing with tradition and naming this car F60, Chairman Luca di Montezemolo declared that it had been decided to name the car after the company’s late founder, Mr. Enzo Ferrari. It seemed fitting to name the car in memory of the company’s legendary founder, who never wavered in his commitment to racing, particularly Formula One. The Ferrari Enzo was primarily designed by Ken Okuyama of Pininfarina with the thought in mind of being able to offer a select group of wealthy and dedicated Ferrari owners the opportunity to have close to Formula One performance in their latest ultra-light, mid-engined two-seater supercar.

    At its core, the resulting supercar can be likened to Michael Schumacher’s championship-winning F1 car with a sports car body. The spec sheet certainly reads like that of an F1 car, with a carbon fiber chassis, carbon-ceramic disc brakes at all four corners and a another nod to Formula One technology; a six-speed sequential F1-style gearbox that was capable of shifting gears in 150 milliseconds. Pininfarina highlighted the Enzo’s F1 heritage by incorporating a pronounced nose and giant rear air diffusers. The aerodynamic package, including computer-controlled adaptive aerodynamics, was so effective that unprecedented levels of grip were achieved with minimal drag penalties.

    The 5,998 cubic centimeter V-12 is an exemplar of engineering genius, producing 660 brake horsepower and 484 foot-pounds of torque. In contemporary tests, Road & Track magazine noted that the Enzo recorded the best acceleration figures ever for a production road car, with 0– to 60-mph in 3.3 seconds and the quarter-mile in 11.1 seconds at 133-mph. Testers also marveled at the Brembo-developed, race-bred braking system, and their best 188-foot stop from 80-mph was another record. Yet another best was the 73-mph run through the slalom and an amazing skidpad reading of 1.01-G of lateral acceleration. Other road testers indicated a staggering top speed of 218-mph.

    Even to the casual onlooker, it was clear that the Enzo was vastly different from its predecessor. The car was inspired both cosmetically and mechanically from Ferrari’s experiences in Formula One. Engineers spent countless hours sculpting the car’s shape in a wind tunnel to ensure that form followed function and that nothing compromised the cars available down force. The theme was similar inside, as there was nothing to distract the driver from the task at hand: driving. The interior was filled with carbon fiber, and the only luxury, aside from the leather bucket seats, was a climate-control system. Not even a radio was present, as it would add unnecessary weight and mask the glorious sound of the 12-cylinder engine sitting just inches behind the passenger compartment.

    Production was very limited and only existing Ferrari owners were invited to buy one; these invitations were generally directed towards the buyers of the previous F50 and F40 models. Just 349 cars were originally planned, all of which sold before production began. Later, after numerous requests, 50 more cars were made, bringing the total to 399, a 400th Enzo was built to be presented to Pope John Paul II, and it was later auctioned for charity on his behalf. The car continues to be seen as the “Ultimate Ferrari” and to hold its value, remaining the most sought-after of all modern Prancing Horses from Maranello on the market today. The recent announcement of the La Ferrari ensures that Ferrari will continue to push the boundaries of technology for road cars as it, like the Enzo, gathers the greatest technical capabilities from both Formula One and GT engineering.

    The Enzo offered is a sparingly driven example that was delivered in classic Rosso Corsa over black and red interior with red seat inserts, plus red dashboard and door panel accents. This is a factory European specification car that has been converted in California to conform to all California EPA, DOT and SMOG regulations. It is consequently legal for road registration in all 50 states of the Union. These cars are all-business in their performance, but do have a few passenger amenities, such as air conditioning, that will add pleasure to this racecar-like driving experience. The exterior is adorned with Scuderia Ferrari shields, factory alloy wheels and black brake calipers.

    Ferraris have always stood proudly at the very top of the automotive food chain, and without doubt, the Enzo represents the highest-performing and most advanced model in the modern lineage of this storied marque. This car is outstanding in its cosmetic and mechanical condition, as might be expected of a car with proper care. Of the 400 Enzos built, however, an alarming number have succumbed to irreversible damage at the hands of inexperienced or cavalier drivers who, in following the Formula One inspired theme, have written their cars off.

    In 2004, American magazine Sports Car International named the Enzo Ferrari number three on their list of Top Sports Cars of the 2000s. American magazine Motor Trend Classic named the Enzo as number four in their list of the ten "Greatest Ferraris of all time.” Unmolested and properly maintained examples such as this are therefore highly desirable and worthy of very close attention.
     
  2. amenasce

    amenasce Three Time F1 World Champ
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    Oct 17, 2001
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    Joe Mansion
    Which one sold for under $2m? Id say the one you listed was "cheap" due to being a non US car and whoever bought it got a great deal as he now has a "US car" for all intents and purpose other than the VIN.

    I dont think the market will soften on these with F40s going for $1.5m here. I actually see them going up (as long as the market continues to be crazy).
     
  3. Randy

    Randy Formula 3

    Nov 9, 2003
    1,012
    Illinois
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    Randy
    here's the other under $2mil. sold for $1.375 mil US



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    23 May 2015


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    Lot 107

    2002 Ferrari Enzo

    To be auctioned on Saturday, May 23, 2015

    Sold for €1.260.000

    Chassis no. ZFFCZ56B000129581
    Engine no. 111836
    Body no. 8
     
  4. Randy

    Randy Formula 3

    Nov 9, 2003
    1,012
    Illinois
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    Randy
    what would you say the right number is for a US car, I find it hard to believe that there is 100% premium
     
  5. joe sackey

    joe sackey Five Time F1 World Champ

    May 23, 2006
    57,525
    Southern California
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    Joe Sackey
    There is quite a value delta between USA cars and the Eu/ROW cars and this has existed for years.

    Perhaps these links of some USA cars is helpful:

    http://www.ferrariofnewportbeach.com/used-Newport+Beach-2003-Ferrari-Enzo-Base-ZFFCW56A430132645 $3 million

    View Lots | Classic Car Auctions | RM Sotheby's)

    The Pope's Enzo upcoming has a $4-6 million estimate, which only goes to underscore that today's market is all about the range, and that range is huge. You have to take it in a car-by-car basis.
     
  6. amenasce

    amenasce Three Time F1 World Champ
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    Oct 17, 2001
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    Joe Mansion

    That Enzo cant be compared to US cars. First it's a euro car, 2nd it has more miles than most US Enzos will ever have and it was used as intended by its first owner (Gregorio Tunon - RIP). Track days, Gumballs in Morocco etc. I wouldnt mind owning that car but i know the american buyer usually prefers a more "virgin" car.

    I would say a clean US Enzo with sub 10k miles should be priced at around $2.3m to $2.6m.
    Delivery mileage cars - $3m+
     
  7. joe sackey

    joe sackey Five Time F1 World Champ

    May 23, 2006
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    You are right on the mark Andrew.

    I can corroborate this by personal sales of multiple cars Cars | Joe Sackey Classics
     
  8. NürScud

    NürScud F1 Veteran

    Nov 3, 2012
    7,307
  9. joe sackey

    joe sackey Five Time F1 World Champ

    May 23, 2006
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    Sprinkled with Holy Water?
     
  10. Tenney

    Tenney F1 Rookie
    Consultant

    Feb 21, 2001
    4,264
    Last one built?
     
  11. joe sackey

    joe sackey Five Time F1 World Champ

    May 23, 2006
    57,525
    Southern California
    Full Name:
    Joe Sackey
  12. rmb221

    rmb221 Karting

    Feb 25, 2013
    193
  13. Randy

    Randy Formula 3

    Nov 9, 2003
    1,012
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    Randy
    true, but it's been for sale for awhile, which tells me it's the wrong price.
     
  14. ROMO

    ROMO Formula 3
    Owner Rossa Subscribed

    Mar 18, 2008
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    ROMO

    You really should retain Joe Sackey to assist you with ANY Enzo purchase you are considering to make. He has vast experience AND contacts which would alleviate any concerns with this very expensive purchase. Just a friendly suggestion! :)
     
  15. Randy

    Randy Formula 3

    Nov 9, 2003
    1,012
    Illinois
    Full Name:
    Randy
    I know he is fantastic and we have been exchanging PM's. I have had a few others PM me as a result of my post and have been told about cars that are between $2.0mil and $3.0mil. I don't know the real current price for one, but I think it sounds like most can be purchased closer to $2.0 than 3.0. I may sit on the sideline until I figure out that the 2 that sold below $2 mil are just a flukes. Although I may go see 2 of them towards the end of the month if I feel more comfortable about prices. I want one badly, but I don't want to buy at the peak. if there are still converted euro cars under $2 mil in great condition, I would snatch one up right away
     
  16. joe sackey

    joe sackey Five Time F1 World Champ

    May 23, 2006
    57,525
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    Joe Sackey
    I totally understand the feeling any buyer has at this moment in the market, one of feeling nervous that prices are too high, wondering if they will correct downwards. This is a dilemma that anyone wanting to collect these cars is facing, and my job involves having empathy for same.

    That said, I can say that the ownership landscape has changed in the last 5 years substantially.

    Today's owners pay cash and can really afford these cars, they are not even stretching.

    Today's owners are very knowledgeable, know exactly what they are looking for, and are real enthusiasts.

    What does all this tell you?

    The market is pretty solid, its certainly bears no resemblance to the artificial one 25 years ago.

    Because of my financial planning background, I keep all sales data and study the market more than most of my peers, I'm certain.

    I hope all of this helps in accomplishing the dream.
     
  17. joe sackey

    joe sackey Five Time F1 World Champ

    May 23, 2006
    57,525
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    Thank you Roger, you have always been a gentleman.
     

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