FERRARI ENZO

What color is the Blue one?

Gr. Martin

 

Blu TDF.
But born Matt Titanio Extra Campionario.

Marcel Massini

 

Thanks you ever so much.

Gr. Martin

 

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were they the ones that were stored in Hong Kong for a bit of time?

 

Maybe not news but... yellow enzo for sale, 2.6M at Ferrari of New England | New Ferrari dealership in Norwood, MA 02062

 

Thanks for the info. Are there any photos of the car with it's original paint?

Edit: Is this it?
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That's it.

 

Doesn't look too matte to me, that's why I asked.

 

Beautiful color: https://www.facebook.com/kevinvanc.photography/photos/a.233621326836377.1073741829.213923172139526/260579550807221/?type=1&theater

 

Just was told that a 1,000 mile Red Enzo in Florida sold for $3 million... Waiting to confirm.

 

*sigh*

Supercar bubble.

Fusion Luxury Motors for example was listed at $2.888m almost 9 months ago. It crept up to $2.988m, and now it's at $3.288m.

 

Insane. But it's the market for now. Alfa Montreal goes for $130k or more. Regular 911 2.7 are going for $150-200k..So an Enzo should easily be worth that compared to those "regular" cars.

 

Agreed.

Market bubble.

 

I partially disagree. When the end users are collectors building collections...

 

As a collector myself, I understand where you're coming from. But I also partially disagree with your partial disagreement.

The definition of a market bubble is agnostic to the reasons for it. You can't tell me that the Enzo has appreciated in value from $1.2m to $3m in a year's time. The supply hasn't dwindled dramatically enough (it's not like half the Enzo's in the US were totaled), and it's not like 100% more collectors woke up one morning this year and realized for the first time in their lives that they want an Enzo*.

(* Insert any other supercar experiencing a dramatic and unnatural growth in value this year.)

 

A bubble bursts when recent owners need to offload again quickly as they overpaid and don't have the finances to hold firm on the cars during any flatline or reduction in the market.

I asked Marcel last week who the current buyers are of the high end classics (on the Monterey auction thread) and he confirmed its still established money in general buying the cars, i.e people who don't need to panic during a cool down in the market.

On that basis it seems current buyers are still getting in before the cars get beyond their reach, once that point happens I foresee a levelling off and a slight backwards correction, but nothing like the events of the early 90s

 

There are 100% more collectors who have woken up. Venezuelans, Russians, Brasilians, Saudis... There is a new generation of extreme wealth that are creating collections. I see it everyday living in Miami.

I know of two Russians that live on Fisher Island ALONE that are pursuing Ferrari Supercars, SLR722, Mercedes Gullwing etc etc

We are living in a different world!

 

Fair enough. I've seen what you describe. I do agree with you, but...

That doesn't disprove the existence of a bubble. A 100%, or 200%, run up in values because of irrational exuberance over the past year is known as a bubble. And when everyone is saying "get in on a (insert random supercar) while you still can!" that's a build up for a bubble. The same thing happened with stocks during the Dot Com bubble. Lots of newly minted, and even extreme, wealth thought they had to jump in because everyone else was (perhaps even because it was trendy).

 

Unlike the stocks you'd buy in the market, there is a very limited supply of these cars and they appeal to the collectors and, hence, the pricing trend. While slight adjustments may not be off the table, as long as there are willing buyers/collectors for these very limited commodities (the type of buyers having the wherewithal to hold the assets), the prices for these cars will very likely sustain the path in the longer run. I would be very surprised to hear 250GTO owners/collectors agreeing with you that their cars are 100% overpriced and that they should be worth 20-25M at best in today's market......

 

Well said.

 

Fair points.

Thank you guys.

 

+1

Thank you, Joe. Always insightful.

I want my / our collectibles to increase in value (obviously), but I also want them to be stable increases. I've endured enough bubbles to know that they aren't pleasant.

While these aren't a perfect example, given that supply of cars, such as the Enzo, are dramatically lower, here are some examples of non-stock market related bubbles that popped: Collectible Crazes That Were A Waste Of Money - Business Insider