1990 USA FERRARI F40 SELLS FOR $500,000

With all the doom and gloom and infinite number of naysayers it's nice to see that serious buyers do exist. I have experienced this myself with the recent sale of one of my Stradales. With almost a dozen Stradales for sale he chose my car for various reasons and paid a very fair price for it.

What's important to note are reasons why some cars are cheap. There are reasons why some cars don't sell. While some might believe that Sheehan's F40 is a great deal with all the upgrades, etc. - it's totally unacceptable to 98% of the buyers for this type of collectible car. Upgrades and changes might work on a Corvette or a Ford but it never works on a Ferrari. It's probably the only marque where adding value (like a $100,000 Novitec bi-turbo kit) actually depreciates a car!

Premium examples of F40s (and most collectible Ferraris) usually change hands privately and without much fanfare. Despite what is happening in the economy as a whole there ARE buyers for premium examples of cars. Joe's F40 is a prime example of this. A done deal at $500,000 can't be disputed.

 

good sale, congrats!

the car is a total winner, and for most, a far safer, more enjoyable place to put your money than in General Electric's stock.
Stocks go to zero. Cars usually do not. They flex, they fall, they surge, but the metal usually doesnt evaporate.

Congrats on your sale. And thanks again for helping me find my 40 as well.

Regards,
sg

 

yeah, boo hooo hoo to me!!

thats like me complaining that my wife cooks me too much food too often.
i say "feed me!" keep it coming.

 

Nice to see even in this economy, when the right car finds the right buyer big money still comes....

 

If you have a McLaren F1 LM, I will sell you my soul. Preferably Ralph's LM.

 

Nice to see that theres a good selection of F40's avaliable at the moment!

I'd be worried about increasing the mileage on a car which has so little on though!

I guess the solution is buy two!

 

wow

 

From my view, the problem is that this car has seen about 120 miles per year of use and would have to have similar ongoing use to hold value. What is the fun in that?

I'd rather have art that will fit in my house.

What is a driver car that sees closer to (or over) 1000 miles per year of use worth?

 

How does the $490k 684 mile car compare to the 712 mile car which sold for $753k last August at RM Monterey. The estimate for the RM car at the time was $575-675k. I'd estimate that F40s are off approx. 20% from the top of the market at this point. Nice to see a few exceptional examples shake loose - as is normal in these types of economies.

 

Joe,

Amen, I wish my stocks were only down 25%. Seems the ones that post about how bad things are might be the ones shorting all the stocks causing this market to fall. Chicken little running around "the sky is falling" or the broker/investor shorting the stocks saying "sell, sell, sell" when he profits from the fall. If Obama wants to do something right, he needs to reinstate the uptick rule that Bush took out a couple years ago. The volatility will certainly stop.

Sorry to change the subject. What a beautiful F40 that you sold! Looks like a smart individual got a great automobile. Seems everything you touch is that way. Congrats!

 

Doing great! Thanks for putting me on your mailing list. It's a joy to see such wonderful cars. Next time I am out your way I will have to come by for a visit.

Regards, Matt

 

FYI,

My F40 and Enzo sold to a dealer is SW Florida who knew the condition of my cars....
It it would be fair to say that the F40 sold in the mid $550 range...& I paid quite a bit more than that for it, last year.
The F40 was/is the nicest I had ever seen. As some would say: museum quality

JG