Schumacher’s Ferrari F2001 for sale today -$5.5 million

Schumacher Ferrari shatters estimate at Sotheby's!

A record US $7.5 million,

http://en.f1i.com/news/285922-schumacher-ferrari-shatters-estimate-sothebys.html

 

There is so much money floating around right now. Every new supercar sells out, every auction car shatters estimates. Some guy pays 450 million for a stupid painting. It's ludicrous and I wonder when the music will stop.

 

The next economic downturn everyone will be dumping this stuff and losing their asses.

Watch.

 

With regards to the F1 2004 and the Da Vinci painting, these are long term investments and they will accrue in value....along with the other "tangible" investments these ultra hyper rich anonymous collector/collectors have at their disposal; might even be a consortium or a conglomerate of collectors.

 

thats debatable. one shift in the world economy and you would be dead before that painting ever got back to being worth even 450 mil much less any more

that said I agree that its likely a group of collectors rather than a single person but who knows

 

Money laundering mate that's all it is.

 

so much cash flowing...and i can't get any of it...sniff what a lack of talent to grab some....

 

This is a way better value and work of art than the new Da Vinci.

 

Dilly Dilly!

 

You can buy every car on the 2001 grid, AND build a proper race track and still have money left over for a sizeable car collection than that silly painting.

Let that sink in for a little...

 

If you cannot fly it, drive it or f... don't get it. Besides looking at the painting what else can you do with it?

 

Nope, it's all due to quantitative easing done by many countries for several years now. It causes asset price inflation, which this is an example of. Once the governments stop pushing cash into the economy expect prices to come back down (hopefully slowly).

When my friends that have ZERO knowledge about investing start telling me about the stock market going up and what to invest in I know it's time to get out and sit on the sidelines. I'm thinking a year from now we will start to see a downtrend and a liquidity problem globally.

 

P Lynch was a bit of a legend with Magellan etc.

Today's markets are a lot more interlinked and sophisticated,all you need is a trigger, hidden in there so far ..,for the whole lot to once again collapse.

I did around 30 years in Forex too...

 

Pity that the guys who pay these kind of money for a car most probably will storage it for decades to protect their inversion, instead of driving it.

 

LOL it just highlights the disproportion of wealth when people are able to play that amount for these things.
IIRC it sold for £45 in the fifties...and there is still doubt over its authenticity ...

 

You have a lot more experience and degrees on that subject than me. I'm still not sure as to how much the rates will go up if much at all, but if/when they do that and if/when they decide to unload their security holdings (https://fred.stlouisfed.org/series/TREAST) it won't be pretty. Of course they could keep rates low for a long time and hold huge amounts of public debt like Japan and hurt the longterm even more than they already have.

To keep this topic a little bit back on track, there are some Schumacher cars running around with the Corse Clienti program. I saw a few this time last year at Finali Mondiali in Daytona and they were amazing in person. I hope the new owner runs it at a few events...clearly they can afford to do that.

 

You know . . . . Ferrari has a whole warehouse of these things. Sure, not all of them were driven to victory by Schumacher. Still . . . . .

 

People or groups that buy these cars can afford to loose money or they wouldn't buy it. This car has the screaming V-10. I like this car over all the the current F1 cars. IMHO I would not want the whole current F1 field to trade for this. Saw and heard these cars running at Indy F1, The most impressive thing ever.

 

Wow! That must be almost as much as it cost to build it.

 

I've tried to keep track of the Schumacher Ferrari F1 cars, but it's kind of hard as there are discrepancies online (like #170 being his first winning car and not 171 or 229 not being the only one he won with in 2003). With my best efforts, I've found at least 32 different Ferrari F1 cars that Michael raced to victory. #239 would probably be the worth the most imo.

1996 F310-169: Belgian GP
1996 F310-171: Spanish GP (1st win with Ferrari or #170?), Italian GP
1997 F310B-175: Monaco GP, Belgian GP
1997 F310B-177: Canadian GP, French GP
1997 F310B-178: Japanese GP
1998 F300-184: Argentinian GP
1998 F300-187: Canadian GP, French GP, British GP, Italian GP
1998 F300-188: Hungarian GP
1999 F399-192: Monaco GP
1999 F399-193: San Marino GP
2000 F2000-198: Brazilian GP
2000 F2000-200: Australian GP, San Marino GP, European GP
2000 F2000-203: Canada GP
2000 F2000-205: Italian GP, US GP, Japanese GP, Malaysian GP
2001 F2001-208: Australian GP
2001 F2001-209: Malaysian GP
2001 F2001-210: Spanish GP, European GP, French GP
2001 F2001-211: Monaco GP, Hungarian GP
2001 F2001-213: Belgian GP
2001 F2001-214: Japanese GP
2001 F2001-215: Australian GP (2002)
2002 F2002-219: San Marino GP, Austrian GP (or 220?), French GP (or 221?)
2002 F2002-220: Brazilian GP
2002 F2002-221: Spanish GP (or 219?), Canadian GP, British GP, German GP, Belgian GP
2002 F2002-223: Japanese GP
2002 F2002-225: San Marino GP (2003)
2003 F2003-GA-229: Spanish GP, Austrian GP, Canadian GP, Italian GP, Japanese GP
2004 F2004-234: Australian GP, Malaysian GP, Bahrain GP, San Marino GP, Spanish GP
2004 F2004-239: European GP, Canadian GP, USGP, French GP, British GP, German GP, Hungarian GP, Japanese GP
2005 F2005-245: USGP
2006 248F1-254: San Marino GP (or 253?), European GP (or 253?), USGP, French GP, German GP
2006 248F1-255: Italian GP (or 254?), Chinese GP (last win with Ferrari)