1999 456M sells for £105,000 hammer in UK Auction

Yes i have a thought. It's crazy that someone would buy this,store it in a bubble,think about the engine spending time starting it and not driving it!!!!!! Then sell it after all that time and energy for a financial loss. Could have just bought the poster.

 

Insane pricing due to insanely low mileage. No connection to the real world in which 99% of cars were driven, had several owners, stories, etc. I posted the same regarding a 1991 Mondial T on sale for 98k USD. Auction pricing is often disconnected from reality. I want to drive my Ferraris. If I wanted to decorate my garage, I'd buy a painting.

Kind regards,

Nuno.

 

+1 although I think that for most of us "down the line" this surges in prices would have a positive incidence on our Fcars even with our more realistic milleage.

 

It's all about driving these fantastic cars. Storing them and keeping the mileage low makes no sense to me.

 

I guess these auction results may give us owners some room to "dream" about the 456 finally appreciating.

I am noticing an unquestionable increase in "hammer" and asking prices on eBay around the world for older Ferraris.

I have been looking at 400 series, 3x8, Testarossa, 355 - even Mondials are going up.

550 are without a doubt up from 1/2 years ago, 456 I haven't seen it happened yet, as least in Europe, there are too many being offered - anywhere from 30K Euros to 50/80K .

But I think a "good driver" will not cost you less than 40K - I believe color combo and manual are command a significant premium - with the blue on light interior being the most demanded/valued.

That said, 4 seater "penality" will always apply.

 

Spot on, imho.

308 GT4s, Mondials, 456s, 612s... All will appreciate eventually, but practicality is light years away from being something people look for and desire when talking about supercars.

That doesn't mean they won't eventually reach pretty interesting prices down the road, but one can't realistically expect them to go near 2 seater values.

The V8 "penalty" also exists imho, although to a much lesser extent. You can't beat 2 seater V12s.

Kind regards,

Nuno.

 

Maybe the "best" cosmetically and definitely the most original, but with so few miles, I have plenty of doubts mechanically. It will still eventually need all the fixes the other cars have had and every mile driven will be a sharper decline in value than in higher mileage cars. I've put about 1,500 times the mileage on my car. Driving it is what it's for. It's a beautiful sunny day today and I'll be taking a spin in a couple of hours.

 

One thing for certain if the new owner drives it the value will go down.

 

I think several factors came together to result in this price:

Auction: bidder emotion is a powerful thing
Mileage: if you want a brand new 15 year old Ferrari, this is it
Model: It could be considered the most desirable of its type (M 6 speed)
RHD: Will always bring a premium in the UK vs. more common LHD in other markets
Market conditions: no explanation, as I can't think of one for irrationality

 

As for the price it doesnt surprise me extreemly low milage and origianal cars have been selling at this premium for the last few years.

I would guess this car will stay in a collection and dont be surprised if it goes out of the UK, as
Asia has been bleeding Australia of cars due to the Aussie dollar.

The other place that would have probably a number of delivery miles cars is in the Sultan of Brunei collection plus all the specials.

 

Wow~

 

True, Tomy. That's why I look at auctioneers as the true enemies of the real enthusiast. They ruin and adulterate the true ownership experience. The pleasure lies in driving, not in speculating. Cars get better if enjoyed and maintained properly. Garage queens are nightmares. If however people can't refrain from speculating, then go have a look at derivates, futures, stocks, bonds, etc and leave Ferraris alone.

Kind regards,

Nuno.

 

The market forces would operate with or without auctioneers whether you're talking about art, watches, real estate or cars. Auctions merely make the markets work more efficiently and, yes, more transparently. Personally I would never sell or buy a car at auction, but that's a personal preference based on the level of risk I'm willing to accept.

 

Seriously what a waste of a car...

 

Another way to look at this the original owner only lost 70K throu depreciation.

 

Graeme, yes plus 15 years of inflation and interest.

 

still not bad cosidering the one I bought is a 1/5th its original value

 

I'm wondering what a Lhd car would fetch in a uk Auction ?

 

Left or Right drive or the location of the market will play their part, however it is the investors who buy this sort of cars are looking at them as commodities. and on top of that the buyers come from the emerging markets like Asia

This happened in the 90s, but this collector market appears to be stronger and more sustained because there is new wealth in different parts of the world

What they look for is very original untouched or extremely original car over restorations.

While the top end of the collector prices have gone stratospheric the ripple is moving down to the newer , by comparison , future classics.

These two sites will give you some appreciation of whats happened in the last 5 years

Classic Car Value ? Market Trends | Hagerty Collector Car Market Trends
Historic Automobile Group

 

Thanks if Im thinking a LHD low mileage 456 could be a great investment

 

another indication of where the market focus is
1991 Testarossa had covered less than 1000 miles from new, and was offered with a rare luggage set, selling for a more than £70,000 over its lower estimate.

http://www.ferrarichat.com/forum/boxers-tr-m/479690-ferrari-testarossa-sells-%A3202-500-race-retro.html#post143771613