$603k for CS on BAT! Has this world gone Batty?

Despite how bad they were I ended up watching both Suicide Squad movies back to back.

 

If anyone followed that BAT auction, it could be one of the 2 final bidders who had the rug pulled out by a "first time BAT bidder". Then again, it very well could be a sham pulled by the dealer. Opps....that would never happen

 

Right. All of a sudden a $603,000 sale and then a $750,000 sale? Yea, I agree. I know I'm negative Nancy on the uptick of prices, but I do actually find it extremely hard to believe. Time will tell though!

 

I can only report from my observations of German online platforms. Very little, if anything, is happening there. And prices start at around €250,000.

And when it comes to cars, I see it the same way as Collegeboy.

 

I'm following the market closely because I'm looking for one. Here in Europe, the cars on sale have been the same for several years, and far too expensive, nothing is changing, not a single sale...

 

The exact same thing happened with Specialles. They had a sale at 395k and kept going…….
Why would the CS be any different? The CS started the line, is the most rare in the line, and the most analog/driver’s car in the line. More desirable than the new cars too. The new cars are also $$$. Regardless of value, I’ll keep driving mine like I always have. If you stop driving a car because of the value, you really can’t afford the car in my opinion.

 

Theres a Fifth Gear video which goes into some details on the CS engine. Its built to tighter tolerances than the CS and is within 2%. Don't forget the Titanium springs too. Not a cheap part and when people try to convert their 360 to CA spec its the one item they can't obtain as they're really hard to find.

 

I own many cars. I split my time between rwo countries. Even if I tried my hardest I wouldn't be able to accumulate mileage on my cars. If you have a dozen cars you love to drive the miles add up slowly. I know a lot of collectors who love their cars and drive them but they live busy lives. If I had a CS and a daily I would have a lot of miles on the CS. Yes ,some collectors never drive their cars, but some of us do.

 

To add to my post (my English isn't the best), I would say that a collector might drive just as much, if not more, than the person with a Ferrari and an SUV in their garage. Both like cars equally, but one of them has a lot more options. It's a different ballgame for such people. Most of us cannot even fathom... enjoy. Nothing will stop the CS prices from coming down. Actually most limited edition physical assets will continue to rise.

 

For what its worth here is the sold price for the Blue Chip argento CS. Asking was 750 and it sold for $735. 100k more than the BAT CS which had a lot less mileage and owners. Wild!

https://www.challenge-stradale.com/137262.html

 

How did you confirm the price & sold status?

 

Look at this : https://www.classic.com/veh/2004-ferrari-360-challenge-stradale-6-speed-conver-nlxQLdn/

 

Yes, still for sale on their website. Asking price has been lowered from $750k to $740k and is now $735k.

https://www.bluechipfleet.com/listing/2004-ferrari-360-challenge-stradale

 

Ahh ok. I'm a buyer at $295 lol.

 

You and many others

 

When you consider the production numbers on the CS and Scuderia are about the same as the F40 and these cars are essentially when Ferrari peaked, the best mid engine V8's they ever made... yeah, $500k, even $750k seems cheap actually.

Honestly the Speciale is the one that seems the most overpriced, they made like 4000 of those. It just gets a premium because it's last (I'd argue scud is best though, it's the sweet spot)

 

Most numbers gathered on this suggest Scud builds were 2000-2500 whereas CS and F40 were approx 1300

 

With only approx 330 coming to North America. That’s a tiny number.

 

Yes. That number is probably under 300 given the reported crashes….

 

And one day the CS + Scud will both be worth more than a Speciale IMO

 

Many years ago in AutoWeek classifieds there was a Ferrari dealer that was listing models for incredibly high prices. It always was told by the seller that the car was sold. It never seemed like it was possible that an overpriced Ferrari could sell that quickly-- this was the case with every ad that was listed by this guy. Turns out the cars in his ads didn't exist-- BUT he did have a collection of Ferraris. He figured that by listing unavailable cars for crazy prices it would be simply a way for him (in his mind) the inflate the perceived values of the cars he owned. And in turn when he listed his own cars the following week for a reasonable market price they would look like a bargain.

This eventually was exposed and AutoWeek banned him from any further advertising.

Nowadays it seems like the Wild West out there. Sadly I view everything suspicious as just that, suspect.

Food for thought...

 

100% the market eventually always values rarity more if the car is considered a “great one”.

The CS has that, it’s widely considered one of Ferrari’s best and it has a low production run.

 

It can happen on illiquid rare models however, this time around its very different, its not only Ferrari's that have caught an appreciation in prices. Porsche's are all up crazy, some Lamborghini as well.

End of the day, if you think something isnt worth the price just don't buy it. F50 at one point could be bought at $500,000 USD on eBay. Good luck getting one at that price now...

 

The one problem with that thinking is that there are other CS examples selling-- at this point in time-- for hundred(s) of thousands less.
And of course each individual has the option of not buying. In my case, having more than a few cars in my garage (that I actually drive and enjoy), I have walked on many cars because I simply just don't need that particular one that bad. With that said I understand that some folks will buy an example such as this that will more than likely never seen any enjoyable use. As always... to each his own.

 

This is the reality of it imo, especially with almost everything going through some sort of dealer/auction now.

Dealers "buying" each others cars/debts at "high numbers" as well. Tons of cars just going back and forth between dealers.