What is happening with the Pista market?

Again, as I originally stated. The speciale and pista were already trending up incrementally. This auction was the catalyst that started the recent massive price increase. I was about to buy a speciale but the next day every speciale on the market was bumped $75-$100k.

and one off auctions influence markets ALLLL the time. You think if a basquiat sells for an astronomical price at an auction the entire basquiat market isn’t effected? Happens all the time.

 

https://bringatrailer.com/listing/2020-ferrari-488-pista-35/?utm_source=Iterable&utm_medium=email&utm_campaign=campaign_2648439

 

Good to see it was driven.

 

Apples to oranges comparison and that's being generous. Discussion is about Ferraris.

 

It’s actually apples to apples. You stated “one sale does not create a market” and I am stating that is factually inaccurate. Doesn’t matter if it’s cars, art, baseball cards, comics books etc. One off Auctions or one off sales massively impact markets constantly like the example I gave re the Speciale. It sold for almost $150K - $200K over the current market value at the time. So a car that was appreciating moderately exploded as a result. That then caused all the more modern Ferrari VS
Models like the Pista to skyrocket. Like this article below states, a rising tide floats all boats.

https://www.hagerty.com/media/market-trends/hagerty-insider/will-other-classic-car-values-benefit-from-the-record-mercedes-sale/

“This news, in other words, effects Jaguar D-Types. Aston Martin DBR1s. Don’t forget the Maserati 300S, the Ferrari 250 Testa Rossa, and a handful of others. Those cars are directly affected.

“It’s probable that a number of these cars will soon double in value” says Rob Sass, the Editor-in-Chief of Panorama, the Porsche Club of America’s magazine. “Think about it. The $100,000,000 ceiling wasn’t just punched through, it was shattered.”