On September 9, Ferrari made history when the 210th model of its 2017 Ferrari LaFerrari Aperta sold for $10 million — the highest value that any modern car has been auctioned off for in the 21st century. Even without the newly-set world record, the LaFerrari Aperta’s reigning position at the top of the list of cars sold at RM Sotheby’s Ferrari 2017 auction is a remarkable feat on its own.
Of the 20 cars that had fetched over a million dollars at the Ferrari auction in Maranello last week, the LaFerrari Aperta is only one of five cars built in the last two decades to have gone under the hammer. The rest of the list is peppered with classic models of the late 1950s to early 1970s, back when founder Enzo Ferrari’s DNA was still very much part of every car rolling out of the factory.
Ferrari LaFerrari Aperta
It isn’t hard to see why the Ferrari’s vintage models perform exceptionally well at auctions. Now seven decades old, Ferrari boasts a rich heritage that is unparalleled by any other carmaker. The roots of Ferrari’s glory lie in Formula 1: Scuderia Ferrari is the only team to have participated in all editions of the Formula One World Championship since its inception in 1950. It has since gone on to hold the most constructors’ championships and the highest number of winning drivers.
Ferrari’s racing success is indebted, of course, to its marvellous cars. Since 1947, the Italian carmaker has released some of the most phenomenal grand touring cars ever known, from the Ferrari 250 series and the F40 to the Dino 246 and the Testarossa. It is these cars, now highly-prized rarities in the auction world, that many a multimillionaire Ferrari collector is eager to get their hands on. (Call it their raison d’être, if you will.)
When they do go up for auction, though, these Prancing Horses go down in the pages of history books. In light of the record-breaking sale of the LaFerrari Aperta and as a tribute to the iconic Italian carmaker’s 70th anniversary, we revisit the 5 most expensive Ferrari cars to ever go under the hammer.
5. 1964 Ferrari 275 GTB/C Speciale
Kicking off the list is one of only three 1964 Ferrari 275 GTB/C Speciales ever built. Like the rest of the trio, the pictured chassis number 6701 was made for racing, as indicated by the “C” (which stands for Competizione) in the car’s name. Designed by Pininfarina, the car’s body was based on the 275 GTB road car and built by Scaglietti. Modifications such as lightweight aluminium body panels and thinner chassis tubes were made to reduce the weight of the car and make it more ideal for racing. The 275 GTB/C also came with a 316bhp 3.2-litre V12 engine; when it fetched $26.4 million at RM Sotheby’s Auction’s Monterey sale in 2014, it became the most expensive front-engined car ever sold at the event.
4. 1967 Ferrari 275 GTB/4*S NART Spider
It may be number 4 on this list, but don’t underestimate the merits of the 1967 Ferrari 275 GTB/4*S N.A.R.T. Spider. For a time, in fact, the car was the world’s second most expensive car to be auctioned when it made $27.5 million in 2013 during Pebble Beach by RM Auctions. The car was only one of 10 Ferrari 275s ever built specifically in an open-top and Spider configuration, as requested by Ferrari importer Luigi Chinetti. Far surpassing its pre-auction estimate of between $14 million and $17 million, the 1967 Ferrari 275 GTB remains the most desirable Ferrari droptop of all time. Its appeal wasn’t lost on celebrities either; Hollywood legend Steve McQueen owned his very own model, which later went under the hammer in 2014.
3. 1956 Ferrari 290 MM
The 1956 Ferrari 290 MM is the stuff of legends, and for legends. This red sports car — complete with the classic race car Ferrari styling — comes with a lot of history, dating from way before it was even sold in 2015 at RM Sotheby’s New York sale. Christened as “the Holy Grail for car collectors and aficionados the world over”, the car is only one of four 290 MM’s ever built. Chassis 0626, however, was extra special: it was built for El Maestro himself — that is, Juan Manuel Fangio, who is widely heralded as the greatest Formula One racers of all time. The car has even had a taste of the adrenaline on the racetracks when it finished fourth at the 1956 Mille Miglia with Fangio behind the wheel. It was also later raced by Phil Hill, the sole US-born Formula One champion, securing the crown at the World Sports Car Championship in 1956/57. Despite its long and storied racing career that lasted until 1964, the car has never once crashed, which is great for whoever bought it for $28 million two years ago.
2. 1957 Ferrari 335S
Racing is in the lifeblood of Ferrari, and it’s exactly what fuelled the 1957 Ferrari 335S. As an official Scuderia Ferrari factory team car, chassis 0674 has switched hands from the likes of Peter Collins and Maurice Trintignant for the Sebring 12 hours, to Wolfgang von Trips for the Mille Miglia. The sports car had only brought its owners to the sixth and second place respectively, but it finally tasted victory when it won the 1958 Cuban Grand Prix in Havana in the hands of Stirling Moss and Masten Gregory. A racing car in every sense, the 335S eventually found itself in Pierre Bardinon’s world-famous private collection of winning Ferraris. Thankfully, it didn’t stay that way forever. In 2016, Paris by Artcurial sold the blue chip Ferrari for $35.7 million — the second highest dollar price ever paid for a car at a public auction, and the highest ever for an auction in Europe.
1. 1962 Ferrari 250 GTO
The most valuable car in the world boasts the perfect combination of performance, good looks — and scarcity. In fact, Ferrari only made 39 models of the 250 GTO between 1962 and 1964. Functioning as both a road car and a race car, the 250 GTO was at the pinnacle in Ferrari design and engineering at its debut. The one that tops this list, however, wasn’t even in mint condition when it went under the hammer in 2014 at Bonham’s Quail Lodge Auction in California. The car first raced in the 1962 Tour de France Automobile at the hands of French racer Jo Schlesser and ski racer Henri Oreiller. The French pair took the car out for its second spin at the Coupes du Salon race, which ultimately led to a crash that killed Oreiller. The badly-damaged car was then returned to the factory for repairs before it was resold several times and finally retained by the Maranello Rosso Collezione. The jaw-dropping $38.1 million price tag is a testament to the unparalleled lure of the 250 GTO line, which counts celebrities such as fashion designer Ralph Lauren and Pink Floyd drummer Nick Mason as fans. The sale is also reflective of Ferrari’s position in the world of cars: sitting nicely at the top, timeless and incomparable.
The biggest Ferrari auction took place last Saturday and, just like we’d called it, history was made. On September 9, RM Sotheby’s auctioned off a LaFerrari Aperta for a staggering $10 million (€8.3 million to be exact). Coinciding with Ferrari’s 70th anniversary, the sale sets a new record for the most expensive modern car to sell at auction — a record previously held by another Ferrari car.
If $10 million sounds a tad excessive, that’s only because the car that came with it was a one-of-a-kind model by the iconic Italian car company. The LaFerrari Aperta that was sold happens to be the last model of Ferrari’s signature car to be made. Setting itself apart from the other Aperta soft-tops, the car comes with a metallic Rosso Fuoco livery and a double metallic Bianco Italia racing stripe on its hood and tail. It isn’t surprising, then, that the car has far surpassed its estimated value of $3.5 to $4.5 million.
The last time a final version of the standard LaFerrari had gone under the hammer, it had similarly broken records by fetching $7 million. This was just in 2016, when the car was sold to raise funds for earthquake victims in Central Italy.
Ferrari continues to uphold its philanthropic spirit this year as well. The proceeds of the extravagant $10 million sale will be donated to the Save the Children charity, in support of a good-willed cause to improve the lives of disadvantaged children around the world.
Other highlights from RM Sotheby’s Ferrari auction that had taken place at Maranello, Italy include a Ferrari California 250 GT SWB that went for €7.9 million ($9.5 million) and a 1958 250 GT Cabriolet Series I that fetched €4.7 million ($5.7 million). As for the Ferrari Daytona barn find, the car was sold for €1.8 million ($2 million) which, in comparison to the hefty price tag of the LaFerrari Aperta, seems like a steal.
It’s that time of the year again. Some of the world’s biggest carmakers gather to show off their latest accomplishments and automotive innovations at the International Motor Show (IAA) at Frankfurt, Germany. From September 14 to 24, the annual auto industry show will host bigwigs like Ferrari and Bentley, as well as homegrown brands such as Porsche, Volkswagen and Audi.
The 67th edition of the IAA will also be shining a spotlight on cleaner cars of the future, following the “dieselgate” scandal at last year’s show. In response to the criticism surrounding harmful emissions from diesel and petrol engines, automakers around the world have been shifting their focus to electric and automated vehicles, many of which will be unveiled at the IAA.
Nevertheless, the trade show will still feature good old automobiles that meet all the requirements of a traditionalist: excellent craftsmanship, ingenious functionality and beautiful design. Here is a round-up of cars to look out for at one of the industry’s biggest events of the year.
Ferrari will be celebrating its 70th year anniversary with a bang that comes in the form of the Ferrari Portofino. The 2+2 convertible, which succeeds the longtime fan favourite Ferrari California, boasts a twin-turbo V8 engine capable of unleashing an impressive 600hp. According to the Italian carmaker, the Ferrari Portofino is also able to sprint from 0 to 100 km/h in just 3.5 seconds. With its retractable hardtop and gorgeous Rosso Portofino coat, the Ferrari Portofino will undeniably be one of the most powerful — and stylish — supercars on display.
Bentley Continental GT
You know what they say: the third time’s the charm. And it certainly is for Bentley’s third-generation Continental GT, the latest incarnation of the British brand’s Grand Tourer. The all-new Continental GT has been revamped with a heavily revised 12-cylinder engine that outputs an impressive 626bhp. With the makeover, the car can now go from 0-100km/h in 3.7 seconds, and accelerate to a 333km/h (207mph) top speed. The successor to Bentley’s most popular car also boasts sleeker exterior lines and a range of cutting-edge driver aids, which will no doubt be a source of fascination for visitors later this week.
One of the major contenders from Germany itself is Porsche, which will be unveiling its third-generation Cayenne SUV. For a while, fans had only a rendering of the new car to go by. However, those who make the trip to Frankfurt will get to see for themselves exactly what Porsche has in store for them: an impressive Cayenne that is now longer and wider, yet lower and lighter. The SUV will also feature a range of technologies from its seminal 911, including rear-wheel steering to boost handling and poise — even off the road.
Guests at the biennial Frankfurt show will get to say hello to Audi’s all-new flagship vehicle: the A8 luxury sedan. The A8 has already been at the vanguard of motoring technology for some time now. The new model that was unveiled to the international press back in July, however, promises to be the first production car with a Level 3 autonomy. The all-round high-tech beast will be premiered alongside its sportier little brother, the A7 four-door coupé.
Besides a range of SUVs and other concepts, BMW will also finally reveal its new M5 super sedan. Set to be one of the highlights for this year’s show, the 600bhp supersaloon is the company’s first vehicle to come with all-wheel-drive as a standard. The new M5 also breaks a previously long-held tradition of BMW’s with its 190mph top speed. That puts the car miles ahead of the company’s past production cars, which were electronically restricted to 155mph.
On 9 September, RM Sotheby’s will be setting a record by hosting the world’s largest single marque auction in history. A collaborative effort between the auction house and Ferrari, the three-day “Leggenda e Passione” sale will see 42 Ferraris — each spectacular in their own way — going under the hammer. The sale might also see another record being set, thanks to a very rare item that will be going up for grabs.
Believe us when we say that this Ferrari LaFerrari Aperta is one of a kind. Ferrari is big on tradition (which is only to be expected; they are Italian, after all) and for the last 70 years, the car company has stuck to building only 499 models of every hypercar that they’ve released, with the first model going from the production line and straight to Ferrari’s permanent museum collection.
The car in question, however, is the 500th model of Ferrari’s flagship soft top, launched specially at the beginning of the year to mark the company’s 70th anniversary. To make it even more special, Ferrari had broken its long-held tradition for a good cause: the limited-edition car was built to be auctioned off in aid of the Save the Children charity.
This unique Aperta will naturally stand out at the “Leggenda e Passione” thanks to its metallic Rosso Fuoco red finish, featuring a metallic Bianco Italia double racing strip running from the hood to the rear. Inside, the car’s cabin is trimmed in black Alcantara and black carbon fiber, complete with polished red leather inserts and red contrast stitching.
Perfection comes at a cost, of course. RM Sotheby’s has estimated the value of the LeFerrari Aperta to be between $3.5 and $4.5 million. That’s not too high a price to pay for a car that is this rare, and it’s a good $3 million shy of the amount that made last year’s auctioned off 500th model of the standard LaFerrari the most expensive modern car ever to sell at auction.
It’s always a shame to see a vintage car in a “barn find” condition, and even more of a sorry sight when it’s a Ferrari in question. Having been hidden away in a dusty garage for over 40 years, the pictured 1969 Ferrari GTB/4 Daytona may not look like much. What even the most dedicated of Ferrari fans don’t know, however, is that the car is really a diamond in the rough.
Here’s a little history lesson: back in the early 1970s when Ferrari Daytonas were fiercely dominating the private racing scene, over 1,200 models were built. Of these, five models were specially equipped with a lightweight, aluminium-alloy body, making it perfect for the racetracks. Ferrari did make an exception for one additional model, however, which was instead built specifically for road use — and it’s the only one like it in the world.
The car’s history is equally illustrious, having passed through 6 different owners from Italy and, later, Japan. Its last owner, Makoto Takai, had the legendary car stashed away in Japan for a good four decades before it was (thankfully) discovered.
As declared by a Ferrari expert who examined the car, the street-ready Daytona is essentially in the same condition as it had been in its heyday. It may look a little shabby now, but it will definitely pay off to have it restored to its original glory. With a black leather interior and a red finish on its tailor-made aluminium exterior, the car comes with extra features such as power windows and plexiglas headlights. The odometer also reveals that the car has travelled 36,390 km.
You can expect there to be much fanfare around the 1969 Ferrari Daytona once it goes under the hammer on September 9 at a special Ferrari auction hosted by RM Sotheby’s. Being the world’s only remaining aluminium-bodied production GTB/4, the car is expected to fetch between €1.4 million and €1.7 million. Other models, such as a new LaFerrari Aperta, will also be up for sale at the Ferrari Factory in Maranello to commemorate the car manufacturer’s 70th anniversary.
For nine years, Ferrari has steadfastly devoted itself to the Ferrari California T, the entry-level drop-top boulevard cruiser whose appeal reached both celebrities and supercar fans alike. Now, the Italian sports car manufacturer has unveiled the successor to its longtime staple. It’s time to say goodbye to Ferrari California, and hello to Ferrari Portofino.
In case you’re wondering, Portofino is the name of one of Italy’s most beautiful towns, renowned for its charming tourist port. The name choice is significant, as the town is noted for its elegance, sportiness and understated luxury — everything that the new V8 GT encapsulates. The launch colour of the new Ferrari has also been dedicated to this marvellous town: Rosso Portofino.
On top of that, the moniker reflects Ferrari’s hopes to highlight the new car’s European rather than US-focused driving and handling characteristics. That means that in terms of road-holding behaviour, the new car is a genuine Ferrari, through and through.
So how exactly does the new V8 prancing horse differ from its predecessor? As revealed on Wednesday, the Ferrari Portofino is completely new from the ground up, save for the powerplant which is derived from the V8 twin-turbo that powers the California. Despite that, the new Ferrari is capable of unleashing an impressive 600hp and sprinting from 0 to 100 km/h in just 3.5 seconds.
Besides the boost in horsepower, the Ferrari Portofino is also much lighter and stiffer, with a clever electronic rear differential and a similar suspension setup as the one found in the 488 GTB. Storage is another factor that was considered; the Ferrari Portofino boasts a retractable hard top, a roomy boot, generous cockpit space and two rear seats, making it suitable for short trips.
Combining style, speed and storage, there isn’t anything quite like the new Ferrari Portofino anywhere else. It is certainly setting itself up to be a powerful convertible, which you will see for yourself when the car is officially unveiled at the Frankfurt International Motor Show in September.
As Ferrari celebrates the 70th anniversary of the “Prancing Horse”, Luxuo was among the selected media invited to Ferrari Singapore’s corporate headquarters to talk to Dieter Knechtel, CEO of Ferrari Far East Hub to discuss the challenges of growing a luxury business amidst soft global markets, catering to the affluent and the overall direction of the world’s market leader of high performance sports cars.
An Interview with Dieter Knechtel, CEO Ferrari Far East Hub
Kicking off Ferrari’s 70th anniversary was a Ferrari tailor-made project at last year’s motor-show where designers of Centro Stile put a modern twist on the stylistic features and elements that distinguished 70 of the most beautiful Ferraris in history and in so doing have created 70 unique “design”. 350 cars were proposed in total, that is to say 70 different liveries x 5 models; each created just the once for every car in the current range, blend the past with the future.
Exterior in Rosso Ferrari 53, a dark solid red inspired by the first Ferrari ever built. Number “56” on the door. Livery around the front grille.
The 125 S was the very first official racing sports car built by Enzo Ferrari and his team in 1947. It made its début on May 11 at the Piacenza racing circuit. With its bold red exterior and elegant silhouette, this model has become a true icon.
According to Knechtel, his colleagues were skeptical that they could find the customers to buy those cars but in the end, the cars were sold out during the summer of 2016, between the end of June and the middle of August. Such is the fervour for Ferrari sports cars that Luxuo was dying to uncover how the Prancing Pony is little impacted by the slow down unlike the rest of the luxury industry.
Jonathan Ho for Luxuo: It’s always interesting to talk to C-suite executives when markets are a little uncertain, almost everyone has an unique perspective on the situation.
Dieter Knechtel, CEO Ferrari Far East Hub: We are a little bit different in that Ferrari can operate in pretty much any economic environment. Based on some marketing studies which project till 2025, I can tell you that the number of wealthy people are still growing.
People say that the Singapore economy is flat and slowing with GDP growth hovering around 1.9% but that is normal for a developed economy. Yet, the number of high net worth individuals will continue to grow over the next 10 years and this is a development which won’t stop. This is where we see the potential.
Exterior in Rosso Mugello. Thin silver line at the bottom of the windows and windshield. Chromed grilles and ball polished rims.
The 212 Inter Vignale cabriolet (1951) is admired for its sheer beauty and flair. Indeed it was awarded second place in the Ferrari Grand Touring class at Pebble Beach in 2014.
What about in context with the rest of East Asia?
We see this growing affluence in Asean but really we see this everywhere even in Japan and Australia. Philippines and Vietnam are going strong, Thailand is softer at the moment but Ferrari is not dependent on GDP growth per se but rather the potential size of the segment. For example, in Thailand we have 340% luxury tax but its the market where we sell the most cars in Asean so we do not depend on GDP or tax factors but really on how we work with our partners and distributors and how solid the processes are implemented, how they are representing the brand which makes more of an impact than the environment because our products are highly attractive.
There’s a consistency in what we do and there’s a value in staying true all the time and the clients can see it. From the product point of view we have everything we need and now it’s up to how we do the work. The key point is that there are many potential customers; and some high net worth individuals have never considered why they might need a sports car and we have to develop this desire. This desire is usually cultivated with dynamic presentation of the car – touch, feel and personalised effort with someone who had never previously thought about buying one. We have many customers visiting Marenello for an unrelated reason but after we take them to the track to experience a car, they always end up wanting one.
Ferrari Maranello, the factory where all visitors inevitably fall in love with Ferrari.
Let’s start off with something which hangs over the head of every car enthusiast in Singapore. A while ago, Hong Seh Motors, former Singapore distributors for Maserati had a letter which went viral on social media. In it, they posited that government taxes like COE, ARF, GST, CEV, etc, essentially triples the cost on a $100k Ghibli. Citing rental and difficult markets, they have elected to relinquish distributorship, do you feel your partner Ital Auto feels similar pressures?
This is the same situation for Ferrari, they cost three times here than they do for Europe. €230,000 times three becomes €690,000 here and plus options, it’s almost close to a million euros and I think this is something we have to live with and have proven that we can live with.
We have been growing for the last 20 years even when they introduced higher and higher taxes. It is still possible to do business here at a reasonable level and Ital Auto is a very strong partner and have been doing a very good job over the past years.
They dare step into Maserati in SIngapore because they know what they are doing and they can see the potential plus, they have a lot of experience with the brand as the biggest dealer for Maserati in the world through Shanghai. They know the game, understand the context, I don’t see any worry or pressure, it’s about doing a good job and being of service to the customer, it’s not about selling more cars, it’s important to sell cars but it is more important to do the right thing with the brand.
High key events like Singapore RendezVous allow an opportunity for the Ferrari Owners Club Singapore to get together and share their passion with like minded individuals
When you say doing a good job for the customer, does this imply that Ferrari being arguably a more recognisable marquee that you don’t really need to work on the branding anymore because all you need is to properly service the customers that walk in based on sheer demand?
We still have to work on the branding even though it’s very well recognised and reputable. We don’t do any advertisements and we use racing and Formula 1 as our communications platform. Though We don’t need to build up the brand anymore, we need to over-fulfil our brand promise.
When it comes to Ferrari, this brand experience is very much related to the ownership experience: It’s about driving and the experience of the car while doing it in a community of like-minded people. This is why, we organise track days and tours in Italy with road tours in different countries, we can organise almost any experience with the car- What we offer to our customers is often a “money can’t buy” experience.
Ferrari Owners Club Singapore organises their own get-togethers independent of Ital Auto or Ferrari, it’s a strong community
Between the clients, there’s a lot of communication because there’s mutual understanding of successful, globally minded, life-loving, taste-masters. I think this sort of ownership experience is a big part of our job. Singapore Ferrari owners-club is a great community.
When it comes to reaching out to new prospects, we have to execute a different sort of effort and that means finding possibilities to excite prospects with our products and letting them experience how great it is to drive a Ferrari. Sometimes the mindset just isn’t there yet because it’s a high tech fast car, we have address some concerns, notably that a high performance sports car might be difficult to drive or unsafe to use on a daily basis but once you drive a Ferrari you will begin to see how easy it is and how you are much in control of everything because all the technological systems support you. Additionally, we instruct them on how to handle it and it inspires a lot of people.
Dashboard view of the royal blue 500 Mondial Pinin Farina spider (1954), one of only 14 open-top models of this series built by Pinin Farina. Onboard computers weren’t a “thing” yet.
Do you feel this technology is double edged in that many car enthusiasts prefer that the onboard computer doesn’t handle so much of the driving experience?
At Ferrari, the computer essentially monitors speed and has algorithms to avoid risk or potential unsafe actions. Stability programs also allow for different levels of driving experience and that is selected through user selected toggles, adjusted for environment and driving style, so owners can have fun with the car. At the same time, passive safety is very important and we developed many things which contribute to safety of the passenger in extreme situations. Dynamic vehicle controls come with a corresponding improvements in safety so that everything can be safe for driver and passenger.
For Ferrari’s 70th anniversary, the Blu Electtrico may bear the number “235” like the 1954 model but the dashboard is vastly different thanks to high tech displays and dynamic control systems which ensure smoother control for even the unaccustomed.
Some Maseratis share a powertrain with Ferrari (in that they are built at the Ferrari factory in Marenello), does this arrangement with Ital Auto puts both brands on a collision course especially with joint history from before?
The V6 and V8 engine of Maserati are produced by Ferrari. We don’t have V6, that’s exclusive for Maserati, the V8 which Maserati uses is a variant of the one we use at Ferrari. There are modifications to the engine which changes the characteristics for Maserati, so while it may be the same basic product, it’s a different experience.
To put this in context, having sat in a Rolls Royce and in a Maybach, sometimes the luxury experience is too similar so now that Ital Auto will carry both Maserati and Ferrari, how will you differentiate yours?
I don’t think the experience is too similar. I believe that we have a totally different strategy. Maserati is going into volume while we are staying exclusive. A Ferrari is an unique experience and it’s a personal piece of art plus we are at a different price point and performance point of view, there’s a world of difference. We are not competing with Maserati at all.
Historically, Maseratis were marketed alongside Ferraris in the network, in China, it’s basically every dealer. In Singapore, it’s going to be a mono-brand set up which means even the management teams and processes are different and quite likely the customers are different as well.
I guess what I really want to ask is that do you specially make Ferrari’s V8 engines sound vastly different?
Yes. [laughs] That’s the ultimate question! Every brand should have it’s own sound and at Ferrari we have ours. Every manufacture tries to produce the authentic sound of the brand.
Ferraris are designed to last but Singapore COE usually means we evaluate whether it is more worthwhile to get a new model every 10 years, is this something which you take into account when you have to determine what models Ferrari Singapore gets allocated?
We don’t determine allocation, we leave that totally to the markets and customer demands. We don’t have a specific strategy related to the 10 year expiry of a COE. What we are really concerned with is the market for pre-owned cars, it is my wish to take care of pre-owned Ferraris because I’d much rather keep it even the Ferrari official network and sell it again. This is great for pre-owned values but we also feel the responsibility for every car so the more we can take care off, the better.
When it comes to allocation, we produce cars made to order, we don’t produce cars on stock. Allocation depends on how many customers we find.
[Editor’s note: Ferrari Singapore manages their own pre-owned division through Ital Auto from 2 years ago]
There’s no doubt that Ferraris are well engineered, with your Porsche background, do you feel Italian supercar manufacturers can learn something from the Germans?
[Laughs] I think both brands are very highly respected in the industry. I think both brands can learn from each other, one is watching the other in terms of systems and processes and I think this is very healthy situation which spurs competition for both brands.
Italian brands are full of emotions. German engineering is clinical but both brands are excellent players in the industry. We can learn from each other but neither Porsche nor Ferrari will leave its path of uniqueness and heritage.
Dieter Knechtel, CEO of Ferrari Far East Hub
As CEO of the Ferrari Far East Hub, do the markets differ very widely from one country to another?
In Asean, Thailand is good because of stability which sounds odd because the military is in power, but it’s exactly the reason so it’s a very welcoming environment for wealthy people to buy. Malaysia has suffered quite a bit because a primary resource issue with China, prices of palm oil have come down, other reasons are political – both markets have bottomed out and are coming up again. In Indonesia we have a very strong customer base. People with Ferraris usually buy tailor-made 12 cylinder limited editions. We don’t large numbers of Indonesian customers but each customer has an average of 3 Ferraris – A small crowd of very strong customers.
In your opinion, why does a brand like Aston Martin struggle even with the weight of James Bond behind it?
[Sighs] I think the point is that if you want to be successful all the time, you have to be consistent in what you do, that is what made Ferrari so strong because we have a system of product development and strategy we makes us strong while other brands struggle to put together something consistently.
Poltrona Frau bespeaks interiors for Ferrari and recently, the Poltrona Frau Cockpit was a concept developed by Ferrari for Poltrona Frau. Looks like you can enjoy Ferrari Frau inside and out.
This question is half serious: You mention that Indonesia is one of your strongest markets and Poltrona Frau has a relationship with Ferrari to do custom interiors, does this relationship exist because Indonesia has so many traffic jams that if you’re going to be stuck in a Ferrari, it should be a really comfortable one?
[Laughs] As far as I know, the Indonesian clientele appreciates the personal treatment in the whole process of deciding what to buy: from how they are received and how they are informed, they have the interest in having the best and then someone needs to inspire them about what is the best.
Tailor-Made is a time consuming business so there it comes down to personal effort. People who are willing to pay whatever to have the best, most unique piece of art, then they need to have a good consultant explaining to them what is possible and then bringing them to Marenello to see the different options. We have different levels of customisation and we have a good number of Indonesian clients working with the design department to create a unique car which will take 3 to 4 years to deliver. I don’t think traffic has so much to do with that but the culture.
I guess what surprised me was that when I reached out to the Singapore Poltrona Frau, distributor he expressed that there was very little interest in customising a car’s interior.
In Singapore, our customers have the sensation that when they buy a car, they have already spent a lot and they don’t want to over stretch it while in Indonesia, it doesn’t matter so much.
Is it a zero-sum game when it comes to competition with Lamborghini?
By experience, very few customers have both. That said, we believe the typical Ferrari customer is very different from a Lamborghini customer. Ferrari still has the strongest product which is confirmed by the fact that we are the clear market leader by far.
What about when it comes to Tesla?
No, I dont believe our customers are into electric cars.
Would Ferrari even consider looking into one?
Full electric, for sure no. But electrification is definitely coming in a form of a hybrid.
No full electric car because it is a brand philosophy?
It’s a brand philosophy and I don’t believe there is a market for us because our customers want a real Ferrari and we don’t foresee a true Ferrari being an electric car.
You don’t forsee an oil and gas free future?
We see some signs. I believe there are initiatives in France now to be free of gasoline engines An oil and gas free future might come but it will take a long time but I still think there’s some time to decide what we will do and what we have to do. We want to be loyal to our values and stick to our DNA.
This Talbot-Lago T150-C SS “Goutte d’Eau” Coupé by Figoni & Falaschi sold for €3.36 million at the RM Sotherby’s Villa Erba auction.
In the sumptuous setting of the shores of Lake Como, some 40 classic cars went under the hammer at the RM Sotheby’s auction. Of all the lots, two French classic cars stood out from the crowd.
A sensational Talbot-Lago T150-C SS “Goutte d’Eau” Coupé by Figoni & Falaschi sold for €3.36 million. This entirely restored “Teardrop” coupé is one of only two examples of the striking “Goutte d’Eau” built by Figoni & Falaschi with fully enclosed front fenders. Another big hitter at the sale was a 1935 Bugatti Type 57 Atalante Prototype, which sold for €3.024 million.
In third place came a 1993 Porsche 911 Carrera RSR 3.8, which sold for €2.016 million. Three Ferraris also broke the million mark: a 275 GTS by Pininfarina dating from 1965 (€1.792 million), a 1964 250 GT/L Berlinetta Lusso by Scaglietti (€1.428 million) and a 1990 F40 (€1.064 million).
Note that several vehicles listed in the auction remain unsold, including a 1928 Mercedes-Benz 680 S Torpedo-Sport Avant-Garde by Saoutchik, which could have been the star of the sale (estimated at €6.5-€8 million), as well as some much more recent vehicles, like a 2016 McLaren P1 GTR (estimated at €3.2 to €3.6 million) and a 2014 Ferrari LaFerrari (€2.75 to €3.2 million).
German tuning firm Novitec, renowned for its wide-body customizations has stretched the latest V8 Ferrari in terms of size and performance. The company plans to build just 22 examples of what it’s calling the N-Largo—11 in coupé form and a further 11 as droptop spiders. But both versions will come with the same customary widened stance, made-to-measure body kit and a major increase in horsepower.
The N-Largo outputs a massive 772hp, compared with the 670hp that the standard 488 delivers, plus 892Nm (132Nm more) of torque. Together they give the car a 0-100km/h time of 2.8 seconds and a top speed of 342km/h—that’s a 14km/h upgrade.
The global aftermarket tuning and automotive customization industry is one of the reasons Ferrari held out so long before finally calling time on naturally aspirated V8s in favor of turbocharging as a means of maintaining performance while increasing fuel economy.
With turbos already fitted to the engine, turning power up to 11 becomes a comparatively straightforward process. However, for every increase in horsepower, there needs to be an equal increase in air flow, engine cooling, braking or aerodynamic stability, something that a number of companies will overlook.
Thankfully, Novitec isn’t one of them. It has ensured that there is a greater, freer flow of air to the engine bay and the brakes to ensure this extra power delivers extra fun rather than reduced reliability. It’s also why it’s added a new exhaust system and dropped the car’s ride height.
But the best feature is that this boost in performance can be turned off or on via the steering wheel-mounted Manettino switch, further reducing any unnecessary strain on the engine when simply cruising or driving around town for example.
This nod to practicality and protection is also why the car comes with a hydraulic lift kit, to ensure those larger front and rear spoilers don’t clip curbs or get caught on things like speed bumps.
Unfortunately, there is no horizontal equivalent that can pull the car’s sides in on narrower roads; because with the larger front and rear track and carbon fiber body, the N-Largo is 2.09 meters from side to side, in other words, it’s wider than a Range Rover.
Reminiscent of a hot wheels pack, this unique building in Singapore is turning heads all around the world. The vending machine-like tower that dispenses luxury cars to well-heeled buyers is the latest space-saving innovation in land-starved Singapore—just don’t try to shake it if it gets stuck. This brainchild of Autobahn Motors (ABM) houses more than 70 of the company’s million dollar wares.
Used luxury car dealer and owner of ABM Gary Hong has taken to displaying his wares in a glass-fronted, 15-storey building. Costing SGD$3 million to build, Hong, 45, said he got the inspiration for the new showroom during a trip with his four-year-son to buy toy cars. Like choosing a chocolate bar, the buyer can see everything on display, before pressing some buttons and having their choice delivered.
“From there I realised that the Matchbox arrangement is a mini version of our inventories that can be displayed and arranged nicely,” he told AFP.
From the comfort of a plush sofa on the ground floor, potential buyers can order a Ferrari, Maserati or Lamborghini among other brands, all with the touch of a hand-held device. Once a selection is made, a promotional video of that car is played on a flat-screen television while the vehicle is automatically transported down by a lift.
“When the customers see a car that is presented in a best way like a beauty pageant, they just decide that this is a winner, and we got a deal,” said Hong, who added that sales have risen by 30 percent since the move to the new premises in December.
The extremely smart design not only creates an interesting pull towards customers looking for a new ride, but also tackles the problem of land scarcity in the little red dot. With a population density ranked by the World Bank to be third highest in the world, behind Macau and Monaco, land comes at a premium in the tiny city-state.
The company stores between 70-80 cars at its facility—an amount that would otherwise require five times the space if the vehicles are parked traditionally. A similar car vending concept currently exists in the United States, through online auto retailer Carvana, which was last reported by US media to have five such facilities around the country as of April.
From Brescia to Rome and back again, automotive fans will be out in force to mark the 90th anniversary of the Mille Miglia, when the classic car race gets underway on May 18. Every year, the race is oversubscribed — over 700 cars registered for the 90th-anniversary event — and that number is whittled down to the crème de la crème by a panel of renowned judges, to ensure that the 440 cars that will be racing are truly breathtaking automotive examples.
Of those 440 pre-1957 cars, 92 will be priceless cars that actually raced in the original endurance event between 1927 and 1957 before it was struck from the World Sports Car Championship calendar because of its danger to drivers, cars and spectators. For example, among the 10 museum pieces, Mercedes will be bringing are a 1928 SSK; the actual 300SL that raced in the 1952 event (important in Mercedes’s history as the first event it competed in following the Second World War); eight 300SL Gullwing models; a 190SL; and a 1954 220a.
However, when it comes to classic competition cars, Italian marques will be in a league of their own. Some 14 Fiats that completed the original course will be undertaking the 1000-mile round trip this year, as will 12 Alfa Romeos, four Zagato-built cars, two Maseratis, and four Ferraris.
This year’s event will be of even greater significance for the Prancing Horse. A Ferrari won the last official Mille Miglia in 1957 and the marque has chosen this year’s event as part of its own 70th-anniversary celebrations. It will be allowing Ferrari owners whose cars were built after 1957 to compete in a “tribute” alongside the official race for the small fee of €8,500.
Once one of the highlights of the World Sports Car Championship and truly a measure of both a car and a driver’s true endurance and capabilities, the 1000-mile street course that takes in incredible scenery, twisty mountain roads from one end of Italy to another is considered by many as the birthplace of the GT car and the race that first put marques like Alfa Romeo, Porsche, Maserati, Mercedes and Aston Martin in the public consciousness.
The 90th Mille Miglia will officially start at 2 pm CET on Thursday, May 18 and will start in Brescia, taking in Padova, San Marino and Perugia before turning around in Rome and heading back to the starting point via Siena, Modena and Parma.
When the Norwegian Joy lifts anchor for the first time this summer, the ship will introduce a two-level race car track on the top deck, where up to 10 guests will be able to take a spin in electric go-carts at a time.
The Norwegian Joy. Image courtesy of Norwegian Cruise Line
The Norwegian Joy can accommodate 3,850 passengers and is Norwegian’s first purpose-built ship for the Chinese market. The ship will home port in Shanghai and Tianjin and make its maiden voyage this summer.
Pitched as a first-class experience at sea, other features include casinos, open-air laser tag course, simulator thrill rides, hover craft bumper cars, multi-story water slides, open space park, and Norwegian’s largest upscale shopping district with luxury brands.
If, like us, you were wondering whether Ferrari F430 F1 Coupe first owned by POTUS would sell, then allow us to clear things up for you: the answer is yes. In fact, someone also bought Donald Trump‘s other car, his childhood home, and a whisky bottle signed by him earlier this year. His name does sell.
Just in case you were hoping for a political angle to this article, there isn’t, really. Now, as you should know, Ferraris are not as popular on the collectable car market. The Ferrari first owned by Trump (the car had just two owners) sold at Fort Lauderdale Convention Centre in Florida last Saturday for nearly twice the model’s usual price at an auction.
So: Ferrari F430 owned by someone else gets US$125,000 to US$175,000; Ferrari F430 first owned by Trump gets US$270,000.
What can we say? According to Bloomberg, Trump’s old Cadillac limousine went to a new owner for four to seven times the price of others of its type in March, and POTUS’ Lamborghini Diablo fetched 75 percent more than average in September last year.
As we mentioned, it’s not just the cars. Whisky bottle signed by Trump? Sold for double the estimate price in January, and for more than other alcohol linked to current POTUS. Trump’s childhood home at Queens, New York? Sold, to Michael Davis last December, who put it up on the market months later at 54% more than he bought it for.
Next, a Trump-signed notebook or something might go for a million. Let’s keep our eyes peeled.
We would like to thank AFP Relaxnews, Washington Post, Bloomberg, BBC, and Fortune for information on Trump’s past car (and bottle and childhood home) auctions reflected in this article.
RM Sotheby’s auction of 150 lots ranging from vintage Bugattis to modern Bentleys generated $70.9 million in sales.
“Not only was it our best ever Amelia Island performance, but the highest tally in Amelia Island auction history,” said Gord Duff, Auction Manager, RM Sotheby’s. “The calibre of entries our team secured for this year’s event was second-to-none.” The star of its show was a 1937 Bugatti Type 57S Cabriolet that went under the hammer for $7.7 million.
And, even though some 19 cars in total managed to attract winning bids in excess of $1 million, a host of vehicles that were expected to send the room into a frenzy failed to meet their estimate, including two Ferraris— a 1961 250GT SWB ($9-$10million) and a 1950 166 MM Barchetta by Touring (pre-sale estimate of $8-$10 million).
All of which suggests that interest in the bluest of blue-chip Ferraris is on the wane, or at least that everyone with the interest and money to invest in such a machine already has one in his or her collection. As a result premium collectors are looking to other Italian marques — mid-1960s Alfa Romeos, Lancias and Maseratis all performed well at all Amelia Island auctions this year — or they’re looking to ‘modern classics’ or essentially new cars with extremely limited production runs.
For example, a 1995 Ferrari F50 once owned by boxer Mike Tyson secured a $2.64 million winning bid making it the second most expensive car sold by RM Sotheby’s; and a 2012 Bugatti Veyron fetched $1.65 million and a 1974 Porsche 911 Carrera RS 3.0 went for $1.375 million.
The star of its sale of more than $30 million was a 1998 Porsche 911 GT1 Strassenversion which went for a phenomenal $5.665 million.
“We achieved strong results for a number of exceptional cars, especially from the Porsche marque, exemplified by the world record price achieved for the GT1 Strassenversion,” said Gooding & Company president David Gooding. “In spite of the 13 world record prices set, we are definitely seeing a market shift, which is healthy for the marketplace as a whole.”
The sale also set new records for the 964-generation Porsche 911 with a Turbo S Leichtbau ($1.54 million), the 2011 997 GT3 RS 4.0 ($748,000), and the 2011 Porsche 997 GT2 RS ($561,000).
And while the trend for Porsches seems to be getting into full swing, attention is also shifting to other marques with a track connection. There is a surge of interest in late 1940s to mid-1960s Aston Martins, the Jaguar E-Type is continuing to get strong prices and the Amelia Island auctions also set a record for Mazda. A 1989 Mazda 767B that raced at Le Mans fetched $1.75 million.
The supercar is expected to achieve a price higher than for an average F430 because President Trump’s name is on the title document. Had Trump not sold the car in 2011, he would not be allowed to drive it now anyway. The American secret service do not approve of their Commander-in-Chief taking the wheel for obvious security and safety reasons.
The same rule applies to the Vice-President. Former VP Joe Biden was also forbidden the car keys although he was permitted to drive his beloved 1967 Chevrolet Corvette on closed roads for a television show.
Over time, former businessman Donald Trump was able to amass a personal fleet of vehicles and included in the list of cars he can no longer pilot are his 2003 Mercedes-Benz SLR McLaren, a jointly developed Grand Tourer; a 1956 Rolls-Royce Silver Cloud (one of the first cars Trump ever owned); a 2011 Chevrolet CamaroIndy 500 Pace Car; and a 24-Karat Gold Orange County Chopper.
It will be interesting to see if the POTUS connection will enhance the vehicle’s value. The auction of this vehicle, estimated to fetch between $250,000 and $300,000, does present both car fans and presidential history enthusiasts with a unique opportunity to own a Ferrari F430 once driven by a president.
This is not the first time a car connected to President Trump has turned up for sale. An opportunity to purchase both a piece of history and a potential investment occurs on March 19 by Bonham’s at Goodwood in England.
The Cadillac limousine was built in 1988 by Cadillac in conjunction with Donald Trump and purchased by him for a family member. It arrived in the UK in 1991. There were plans to produce 50 of the ‘Cadillac Trump’, but only two were ever actually built.
Car collectors like some added value and celebrity vehicles are possibly the most sought after. To see a personal vehicle owned by one of the most powerful men in the world on sale is extremely rare. It is a larger-than-life opportunity to buy a car previously owned by a larger-than-life politician. The vehicle will be sold without reserve and the auction house estimate is between £10,000 – £12,000 (€11,000-15,000 / $12,250 – $14600). However, because of the presidential connection it is thought the final price could reach £50,000!
Meanwhile the Ferrari is being sold by Auctions America in Fort Lauderdale, Florida during its March 31 to April 2 sale.
On March 12, 1947, Italian motor racing team Scuderia Ferrari — which previously raced Alfa Romeo cars — presented its first in-house creation. The 125 S, was presented in the courtyard of its factory in Maranello, Italy. The 125 S was the first in a long line of sports cars, both for the road and for competition, which shaped the carmaker‘s legendary status.
The 125 S was directly inspired by the AAC 815, a car that Enzo Ferrari designed and built in 1940 under his brand of the time, Auto Avio Costruzioni. In fact, certain purists consider this to be the first real Ferrari. The mythical Maranello factory saw the light of day 1942 and five years later the first Ferrari-branded cars rolled off the production line. The Ferrari 125 S, with a 118Hp V12 engine, made its competition debut in 1947. Its first wins started a long list of prizes and achievements for the car maker. In 1947, Ferrari presented its first grand touring (GT) model, the 166, a sporty car with sleek lines. Around a hundred cars were built across the various 116 models (Sport, Inter and MM).
Like all Ferraris, the hoods of these early cars were adorned with a small black horse rearing up on its hind legs against a yellow background. The Italian brand‘s famous badge has been used on all the firm’s models, whether road cars or competition cars. It pays homage to the aviator Francesco Baracca, a First World War Italian Air Force ace, killed in 1918, to whom Enzo Ferrari was particularly close, and who used to paint a horse on the side of his planes. Scuderia Ferrari first started using the “prancing horse” logo in 1931 on Alfa Romeo cars that the team was racing at the time.
Ferrari’s glory was evidently built on the race course and is intrinsically linked with the history of Formula 1. Scuderia Ferrari is the only team to have participated in all editions of the Formula One World Championship since its creation in 1950, while also holding the most constructors’ championships and the highest number of winning drivers. Ferrari also competed in the 24 Hours of Le Mans, from 1949 with the Ferrari 166 MM, and all other endurance classics until the 1970s.
Its racing success and the high-quality finish of its GT models soon gained international renown for Ferrari. In 70 years, the Italian carmaker has released some of the most stunning grand touring cars in history, from the Ferrari 250 series and the F40 to the Dino 246 in its various versions, the Testarossa and the more recent LaFerrari hybrid. These models today sell for eye-watering prices at auction. In 2016, a 1957 Ferrari 335 S fetched €32.1 million at a Paris auction — a new world record.
1961 Ferrari 250 GT SWB Berlinetta Competizione, Chassis 2735, ex-Rob Walker and Stirling Moss
The Ferrarri 250 LM, 1964
Following the announcement that the striking 812 Superfast will debut at the Geneva Motor Show, Ferrari in its 70th year have revealed 70 exclusive one-off liveries for the current range. The inspiration comes from extraordinary models such as the 375 MM Pinin FarinaBerlinetta that Roberto Rossellini ordered for Ingrid Bergman. It really doesn’t get more glamorous than that.
Project Ferrari Tailor-Made allows clients to make their personalization choices on site in Maranello, Italy where they are flanked by a personal designer who will assist them in creating their bespoke Ferrari right down to the tiniest detail. This will encompass everything from livery colors to cabin trims, finishes and accessories of which there is an unprecedented selection of materials, treatments and hues.
Putting a modern twist on the stylistic features and elements that distinguished 70 of the most beautiful cars in history, clients can choose from 70 exclusive liveries that can be created just once for any car ordered from the current range. Blend the past with the future to create the Ferrari icons of tomorrow as the following 7 examples show.
The 212 Inter Vignale coupé was one of only 34 to have been built by designer Alfredo Vignale (1952). With its ivory exterior and taupe livery, it is a truly striking car. The 375 MM Pinin Farina Berlinetta from 1954 was the one-off model originally commissioned by film director Roberto Rossellini for the illustrious actress Ingrid Bergman. This is the car that gave Ferrari’s iconic color Grigio Ingrid its name.
Legendary British racer Sir Stirling Moss drove his 250 GT Berlinetta SWB to victory three times, including in the 1961 Tourist Trophy. In striking blue with a horizontal racing stripe and classic white roundels on the doors, this model really stands out. Moving forward through the years, with iconic racing lines the 1964 250 LM is finished in classic red with a white central stripe. This Ferrari claimed overall victory at the 24 Hours of Le Mans in 1965.
On through 1970, a 365 GTB4 ‘Daytona’ is seen in stunning blue with a red interior. This superb example represented an important milestone in the evolution of the Ferrari coupé, with its high-performance front-mounted engine.
Featured in the television show of the time, buyers can pretend to be Magnum P.I. with a 1980 308 GTS, or they can be inspired by the legendary 2002 Enzo. In silver with red interior, this was one of Ferrari’s great supercars and was the embodiment at the time of the latest Formula 1 technology and expertise.
All cars ordered with these striking livery options will be distinguished by an exclusive commemorative logo of the 70th Ferrari anniversary along with an ID plate with the name of the model that inspired it. Truly unique, there can only be one of each of these paeans of the past.
When you hear the name Ferrari, 2 things come to mind: Speed and Elegance. Turns out Ferrari isn’t satisfied with just fast. The supercar manufacturer has selected the 87th edition of the Geneva International Motor Show for the world premiere of the new 12-cylinder berlinetta, the Ferrari 812 Superfast. Yes, it does live up to its name. Ushering a new era in Ferrari’s history, the 812 Superfast is Ferrari’s most powerful production car ever.
Aimed at a distinctive demographic of clients demanding the most exclusive and robust supercar, the 812 Superfast boasts the versatility to be driven on road and track. The 812 Superfast includes new 6.5litre V12 engine that unleashes 800 CV of power at once, pulling maximum power output of 8,500rpm. After all, 789hp, a 0-100km/h time of 2.9 seconds and 718Nm of torque make this officially the world’s fastest, most powerful front-engine production car. Coupled with a dual-clutch transmission with specific gear ratios and the combination of shorter up and down shifting times between gears, a super sharp throttle response is born.
But this is just the beginning. The 812 Superfast gets electronic power steering for even greater turning precision whatever the speed. What’s more, because it’s a digital rather than analog system, the steering communicates and works in concert with the car’s other cutting edge stability systems.
Ferrari wants owners to drive this car, rather than put it into storage with the hopes of making a return on their investment. So it’s given it something called the Virtual Short Wheelbase system. It debuted on the F12 tdf limited edition in 2015 and will make the car feel and respond like a vehicle half its size at lower speeds — think inner-city traffic and narrow side streets with tight turn-in angles. Ferraris with longitudinally mounted V12s tend to be both very long and rather wide.
Ferrari is also going even further into the realm of active aerodynamic technology for its latest model with flaps located in the nose that open and channel air under the car’s body and out through rear channels to constantly optimise downforce and therefore its ability to stay glued to the road.
And, as this year marks Ferrari’s 70th anniversary, for a final flourish the new car gets a celebratory shade of red Rosso Settanta paint.
The collectible classic car industry has long been one that gets your heart pumping. With the prospect of collecting an item so elusive you’re one of the few ‘lucky ones’ to obtain, classic car connoisseurs are known for their deep passion in the industry. Despite talk of bubbles, and of Ferrari fatigue, the classic car market is in extremely good health as 2016 becomes 2017. Yet, we ask ourselves what makes a car collectible? The very definition of what makes a car collectable or desirable is changing faster than a classic Ferrari’s 0-100km/h time.
On the whole the market has remained very strong,” begins RM Sotheby’s Peter Haynes. “Probably the thing that came out of 2016 most clearly is a shift towards what the industry is calling the modern classic.” By modern, Haynes says that interest in automotive exotica from the late 80s and 90s is now huge. “It’s really hard to account for this change unless what we’re seeing is the beginning of a sustained shift in the market — the passing of one generation and a new generation of buyers coming in,” he says.
As a rule, collectors that buy with their heart rather than as an alternative to a hedge fund, will be drawn to those cars that have a personal, emotional significance.
“People are buying the cars they want to buy,” explains Robert Johnson, director of Classic and Sports Finance, a company that helps collectors track down and pay for exotic cars, whether at auction or through dealers. “It’s a case of what do I really want? What do I aspire to and what was on my bedroom wall as a kid?”
And in the 80s and 90s, bedroom walls were covered in pictures of the Lamborghini Countach, Ferrari Testarossa, Porsche 959 and the Porsche 911 Turbo. Over the past 12 months, prices for all of these models, and their successors have started climbing. At the RM Sotheby’s Paris sale on February 7, a 1988 Porsche 959 Sport went for a world record €1.96 million, but a 1995 Porsche 911 Turbo Cabriolet attracted a winning bid of €1.34 million.
And the auction houses are now changing the mix of lots on offer to cater for this changing taste. “A few years ago, it was very rare to find an auction house selling a new car,” points out Haynes.
Yet at this year’s Paris sale, some of the biggest lots were also the newest. A 2014 Mercedes SLS AMG Black Series went for €470,000, a 2011 Ferrari 599 GTO for €450,000, a 2012 Aston Martin V12 Zagato fetched €750,400 and a 2016 Porsche 911R went for €515,200. These prices point to a second growing trend in the collector car space. The investors that would normally be buying up mid-1960s Ferraris are now looking to rare modern cars instead.
“A lot of people are now sniffing these cars out rather than going to classic car auctions,” points out Haynes. And at the moment there is no shortage of choice. McLaren, Ferrari, Porsche and Lamborghini have all unveiled extremely rare, extremely expensive models over the past 12 months, from the Ferrari J50, to the aforementioned Porsche 911 R and the Lamborghini Centenario.
But in each case, the entire run has sold out before the first example has been built. “People are going to start clambering over each other to buy them,” says Haynes, who believes the cars will be stored for resale and never driven.
However, it could also be good news for everyone else. Some of the most desirable traditional classics, could soon be within more collectors’ reach. A 1973 Alfa Romeo Montreal sold for just €78,400 at the Paris sale, a Maserati Bora for just €179,200 and a 1970 Ferrari Dino 246 GT L Series for €448,000 — that’s less than a 2016 Porsche or a 2012 Aston Martin.
Motorsport fans are in for a real treat as for the first time at Rétromobile, they’ll have the chance to see no less than six Delage 155B 1500, a racing car that won first place in the 1927 Constructors’ Championship. Ninety years after it dominated the Grand Prix races with Robert Benoist at the wheel, this legendary car will be on display for visitors to enjoy at Rétromobile.
Racing car aficionados will also be delighted to see the Ferrari 500 F2 in which Alberto Ascari won the World Championship of Drivers in 1952 and 1953. Over a two year period, this car won 14 out of the 15 Grand Prix races in which it took part. It is part of Rétromobile’s major tribute to the 70th anniversary of the prestigious Italian brand. The show will feature numerous models which made Ferrari a legend in competition and on the road, including the 166 Mille Miglia which won the 1949 Le Mans 24 Hours race, the Ferrari 312B (a Formula One car from 1970), a 1957 Ferrari 250 GT Cabriolet Series 1, a 1961 250 GT Berlinetta, a 275 GTB, and a 1965 250 LM Berlinetta.
In complete contrast to the Ferrari theme, Rétromobile will celebrate the genius of Victor Bouffort, a French engineer who designed quirky vehicles that were often ahead of their time. A number of these will be on display, including a three-wheeled sports car, an amphibious all-terrain vehicle, a suitcase which could be transformed into a scooter in two minutes, and a two-seater city car that was shorter in length than the width of an ordinary car so it could park anywhere.
Rétromobile will also feature an exhibition of some of the most iconic models in the history of the French motorbike, ranging from the very first motorized two-wheeled vehicle built in 1871 by Louis Guillaume Perreaux to 2017’s Midual Type 1. Visitors will be able to see a Louis Blériot 1920 invention, the Peugeot 500 two-cylinder which won the 1927 Grand Prix, a 1934 Jonghi 350, a 1939 amphibious Simca-Sévitame, a 1952 Koehler-Escoffier 1000 and a 1957 Taon Derny.
As part of the Rétromobile event, Artcurial Motorcars will hold its annual auction on February 10. A 1948 Ferrari 166 Spyder Corsa Scaglietti, which was driven by champions Giuseppe “Nino” Farina and Raymond Sommer, is so highly prized that Artcurial does not want to reveal its estimate. In 2016, the auction broke the world record for the sale of a racing car with a 1957 Ferrari 335 S which went for 32.1 million euros.
The 42nd Rétromobile takes place from February 8 to 12, 2017, at the Parc des Expositions, Porte de Versailles, Paris