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Who was there in 1989-1990?

Discussion in 'Vintage Ferrari Market' started by Smiles, Aug 16, 2017.

  1. sperry

    sperry Karting

    Aug 6, 2013
    106
    Meanwhile at the Pebble Beach Concours, a majority of the field is made up of prewar cars, and those prewar cars garner almost all the awards. Something's gotta give.

    Best of show - 1929
    Runners up - 1932, 1957
    Most elegant - 1932, 1937, 1929, 1955
    Special awards - 1906, 1933, 1931, 1904, 1909, 1940, 1932, 1916, 1929, 1933, 1929, 1929, 1936, 1907, 1915, 1931, 1947, 1949, 1953, 1956, 1967
     
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  3. 375+

    375+ F1 Veteran
    Rossa Subscribed Silver Subscribed

    Dec 28, 2005
    7,514
    Good observation. You should also contrast the RM auction results with those from Gooding and Bonhams. RM killed it, they aggressively sold cars at good numbers; Gooding and Bonhams did a so-so job IMO.

    I was active in 1989 when the crash hit. My personal red flags were when a friend was offered $50,000 by the dealer for his delivery position on a new TR(and he refused it); a local dealer bought a nearly new 328 GTS at the Mannheim auction for $30,000 over MSRP(the model was still in production). By January of 1990(BJ Arizona, then a relevant auction) it was pretty clear that it was game over. The only buyers were in Japan and that lasted for a year or so.

    I had one car that I purchased in mid-1987 and held on to it until 1994, I still more than doubled my money. Started buying cars again in the mid-1990's but the market was essentially flat for 5 or 6 years.

    The market has definitely shifted. Classic Enzo era Ferrari have peaked and are still softening, cars from the 1980's, 90's and 2000's have assumed leadership.

    My 2 cents.
     
  4. Smiles

    Smiles Moderator
    Moderator Owner

    Nov 20, 2003
    14,134
    Pittsburgh, PA
    Full Name:
    Matt F
    Not that different.

    Interest rates were 20% in the early 80s, but by the crash they were definitely under 10%.

    New Ferraris have recently been selling for more than sticker, and big money doesn't know where to invest. Fine art, prime real estate, and cars are all rising on speculation.

    Matt
     
  5. Smiles

    Smiles Moderator
    Moderator Owner

    Nov 20, 2003
    14,134
    Pittsburgh, PA
    Full Name:
    Matt F
    I think that's a good read of the situation.

    Matt
     

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