the F40 is undervalued

According to someone who was following hammer was $2.5m and $2.75m is with fees.

 

Correct - i have the app set to include fees on final prices

 

Works for most auctions but Mecum and BJ are sketchy and often negotiate final fees with buyers if they’ll jump bids to get a car to reserve. But I’m sure this (buy fee inflated all-in price) will be pointed to as a genuine comp vs an outlier. The way of the bubble…

 

F40 price isn’t a bubble price. Used cars are up 30 percent. The world is a bubble since 2011 is one debate you can have but f40s have been nothing but steady and stable since 2009, my 2 cents.

 

If I owned one I wouldn’t say it was a bubble either. Prices up but nothing uniformly so I think there’s more nuisance to it than percentage reference or even one brand/model over another. I guess we’ll see how things play out when the market corrects as I suspect many current buyers are using portfolio loans and other cheap debt that’s highly susceptible to rate and market fluctuation are going to be rushing to the exits when the sure thing isn’t so sure and those payments keep rolling in…

 

There is no doubt that those things can be factors… But the world is very different now than it was in 2009… In 2009 there was a handful of us that were playing the Ferrari game and really playing it… Now they’re are 10 or 20 times as many guys trying to play the game… There are new industries, new sources of wealth, doesn’t mean that the rules have been changed by any means but I got long inflation assets about 10 years early… There is no doubt that hard assets have become true alternatives for people as bonds have stayed uninvestable… There’s a ton of froth across certain parts of the car market for sure (g63) , but I do think the F40 is the bluechip of bluechips

 

So to put it in perspective the F40's Seller nets around $2.25m.

 

Way better off selling on BAT

 

Or on Sackey & Co for benchmark results because we're low-volume high curation and focus only on Supercars only https://www.sackeyandco.com/results

Amongst some other iconic Supercars, we hope to announce a very low mileage Tipo USA F40 in the near future.

 

I’m always intrigued by the Mecum venue choice for exotics. To me their buyers are generally uneducated in that area vs muscle cars, but maybe sellers count on that? Or the fact Mecum will heavily negotiate sell (and buy) fees?

As an aside, what’s the obsession with Michael Fux’s “collection” cars? They’re always hideous spec’d and bidders still seem to love them. Then there’s the blatant flipping component since so many of them are undriven and often current model year cars. So much for manufacturers or dealers not wanting cars to go to flippers. I don’t get it.

 

Strange times we live in.

 

These always seemed like the ones that were undervalued in the F-Car supercar range. I see it like a .dot bubble type car that took 25yrs to regain all time high only to revert to the mean, where it belongs.

$2.5m for a nice F40 seems absolutely reasonable actually considering what it is. They are captivating race cars for the road and very very raw. It’s a unique offering and has the right badge. It also happens to be the founders last masterpiece that the world accepted as such but never valued it that way. Well, Chris Harris may just have been right? It’s the One.

 

"Actual image of high bidder at Mecum sale"

 

Is the price gap between US and Euro F40s that are actually on the ground in America shrinking or negligible?

 

Let me tell you that there is currently a massive demand from North American based potential buyers for EURO F40's.
But there's also huge activity in the F40 sector in Europe. During my 45 years in the Ferrari World I have never seen such a frenzy before (and I have been around in the seriously wild years of 1988/1989 already, fortunately this time it seems to be mostly real cash and not all financed as it was back in the late 80's).

Marcel Massini

 

The market is absolutely insane. For all cars not just F40.

 

True

 

FWiW for Euro cars there’s also a market difference between non cat / non adjust and cat and / or adjust cars.

 

There's also a market difference between an F40 with sliding plexiglass windows or the more mundane wind-up windows.
It's almost like the 250 GT California Spider with open headlights or covered headlights (a kool 5 Million $ difference!)......... (probably 50 Grand to convert but who wants to do that?)

Marcel Massini

 

Yes, agreed. If buying, be on the look out for fakes of both roll up window cars converted to sliding window that are being represented as original and cat cars with cats removed also being represented as original. As always, check with Marcel.

 

I’m glad to hear there may be stabilization in going to cash, although I’m not sure how anyone would truly know if it were cash or money taken on loan from something else (loc, margin, etc). I know last year I was approached by two separate entities to “invest” in their groups for the specific reason of car speculation. One from CA had a couple of F40s along with a dozen or so other cars in that league, and the other was just in the capital raise phase but intended to buy the same types and caliber of cars. I found it sad that these machines were looked at more as static art investments than being driven but I suppose that’s what happens when they start getting expensive…