the F40 is undervalued

An Analog Escape: Ferrari F40

This was so well done.

 

One that's going to get enjoyed on the road as Enzo intended.

 

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This F40 was at a recent auction (yesterday I think) in Saudi Arabia. Bid reached 10 million SAR (around 2.66 million USD) and reserve was not met.

 

US spec in the Middle East, is that rare? most Ferrari over there seem to be euro spec.

 

I wonder whether it is a true US spec or if it could be a specific Middle-East spec.
There were (at least) some "Saudi specs" at one time - my former testarossa (a '87, so about the same period) was a Saudi spec (with some manufacturer's plate in Arabic), which was a mix between euro and US: it did not have the side markers (so looked like a euro) but had apparently a US engine, with the catalytic converters removed (so it had a US spec exhaust, with pipes in place of the catalysts, whereas euro cars of the same time had an exhaust with two silencers instead - the tuby style I installed was for US-spec).

 

94277 with just over 12k miles just sold for $2,150,000 all in netting the seller in the high $1ms underscoring the current value trajectory.

Along those lines I’ve been offered several F40s around the aforementioned numbers, and there are 3 middle mileage F40s coming to auction which should further establish the current market trend.

 

Thank you Joe for always impartially reporting on what the market is. This is one of the many reasons why I have sold F40s and 288s though you.

 

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Lol impartial? Thats the funniest post in the history of fchat!

 

This car has a story to be fair, no?

 

Sure.

I currently don't own an F40, am not looking to but one for myself again, don't care if values go up down or sideways, buy & sell for clients whatever the market as I've done for 25 years.

You on the other hand are an F40 owner with a patent reputation on FChat for trying to talk the market up.

We need an neutral party to tell us who's impartial here - wait, someone already did

I expect every F40 which establishes a lower benchmark will be said to have a story, so pray tell us, what's the story with this one?

 

We agree you are indifferent towards actual price and your primary goal is volume. You often hint at the market and then hide behind private treaty to conceal prices. We have covered the cat car in our f40 WhatsApp group which is also under private treaty so I can’t add color.

I don’t talk up the market - I use accessible data to understand the market and I don’t rely on your fchat posts as my primary source.

How did Toto’s car do?

 

What price gets the deal done on the car you had on closed bid auction?

 

Without getting into the car itself, educated buyers generally focus on spec, history, documentation, condition, mileage. Being a cat / adjust(?) car with mostly Japanese history and light documentation, add to that a car that was recently imported and quickly punted, I don’t think the car sold for an unusually low number. That being said, for someone looking to get into an F40, right above 2MM seemed a good value.

FWIW I had two friends that were interested and “willing to pay more” for the right one. As the market stabilizes the aforementioned parameters become more important.

 

This sale certainly made me scratch my head and the RM car look like a bargain. Interesting to say the least.

 

that was my reaction as well!

 

You own an F40, and most of your F40 posts are about the F40 market, and are clearly biased towards how the F40 market has been upwardly mobile and a good investment, so there's no question you are biased in favor of ever-increasing F40 values, spare us the pretense otherwise, meanwhile, where you get your information from is your business, we can agree that it isn't from my posts.

On the other hand, I am impartial, regardless of your previous post suggesting roma1280's post was somehow funny, what's funny is that it wasn't, my impartiality has been common-knowledge in the car community for decades.

My primary "goal" isn't market volume per se, my main goal is simply being an accurate, knowledgeable, and trustworthy resource to people who like to buy & sell these cars, judging by how many F40s we have sold to date (over 70 and counting), I'm confident that goal is being met.

Private Treaty isn't hiding from anything, it's simply the chosen method by which many affluent people like to buy & sell luxury goods so it's an important part of the market, specialists in the Private Treaty market often trade information amongst ourselves to keep up with where values are, understandably frustrating for you because you're simply not privy to what's essentially proprietary information.

From my perspective, that sale can't be used as a comparative measure of anything seeing as it was about $1m over what myself and a number of my colleagues would have paid for that car, it's not the first time we have seen an outrageous outlier price paid for one reason or another, but one such occurence means little, the $2.15m car though was market correct IMO.

 

I know (and respect) roma well enough so i was very calculated when I responded to his post, and I genuinely did laugh out loud.

Ok so you want to disregard the grey car because you and a few friends don't think the price is market, but what is your take on the Toto sale? Wld you say that is market for a low mile cat EU car?

 

Could I ask what price was realised for the TOTO car.... Thanks

 

i sent you a DM

 

The gray car is universally accepted as having been overpaid.

Sorry I can't comment on the private sale of Toto Wolf's former F40 n° 87007, but I promise I will be commenting on the upcoming public sales of n°s 93942, 77676 and 85308

 

As I’m always trying to learn as the market changes, while the result was difficult to predict (certainly by me), perhaps it shows that there is a market for “restomod” F40s. Since it was a no reserve auction, we know at least two bidders wanted this car. Barrett Jackson is the market for those car and they found the right buyers in this venue. Will be interesting to see if the trend continues in any meaningful way to create a new segment of the F40 market.

 

If I was in the market for an F40, I’d be taking a hard look at Bonhams’ serial No 77676 being a very early serial number car. Does anyone here have any insight on the car? Crosses the block tomorrow - any predictions on where it will trade?

 

well like you always preach, the public auctions aren't great forums to base market value off of.

 

the one at RM today says it was sold on collecting cars but for the life of me i cant find it at their website's history
https://www.classic.com/a/collecting-cars-auctions-e45zAkn/lots/1990-ferrari-f40-n2wBwoW/