Will Your Ferrari Appreciate in Value? Learn More About the Value of Your Car
Are you considering purchasing a new Ferrari? If you are curious about whether or not the value will appreciate, let’s learn about what makes a Ferrari appreciate in value or not.
The short answer is that only limited releases consistently avoid the typical depreciation of value triggered by signing the dotted line and driving off of the lot. Supply and demand is the ever-present force looming over all resale values, but there are variables capable of altering the situation. A car’s prominence, for one. All bets are off if a famous person owned it.
A limited release model Ferrari will be more expensive but any individual concerned with getting an equal or greater return on their investment would be wise to aim high and go big. The rarer it is, the more people will pay for it. This blog used data from 33 vehicles auctioned off on Bringatrailer.com.
The Older Models
The classic Ferrari models that provide the best investment and opportunity to appreciate in value are the Ferrari 250, Ferrari 208, 308, and 328, and the Ferrari Testarossa 512 TR/512 M.
The Enzo model is another safe investment. It emerged at a time when Scuderia dominated F1 racing and was released in a small batch of only 400 vehicles. It will only rise in value because of the prominence and the significant affiliation with Enzo Ferrari himself.
The Ferrari 599 GTO’s value is a Redwood Tree, always growing strong. The company gave it a limited release of 599 cars. The limited release, coupled with the fact it was the first front-engine Ferrari to beat Enzo on the Fiorano track, added to the value of this model. It would have cost $400,000 brand new in 2010. Today, it is worth upwards of $600,000.
Two new Ferraris stand out of the crowd as surefire investments to appreciate in value: the LaFerrari and the Ferrari Monza SP1/SP2.
The LaFerrari is the current flagship car. Limited editions plus unlimited power means you can take this bet straight to Vegas. Each flagship is released every 10 years so you can feel safe in your purchase of this beautiful hypercar.
The Ferrari Monza SP1/SP2 will enjoy stratospheric price rises similar to what the Renault Spider and McLaren SLR Stirling Moss have seen. The limited release of 500 cars will appreciate in value daily. The market price will be around $2,900,000 brand new. One estimate for the Monza’s appreciation gets as high as $10,000,000.
Data and Current Auction Prices
The highest resale value from the data set available on Bringatrailer.com for this model shows that a 2009 Ferrari 430 Scuderia Spider 16M went for $230,000 as recently as February 7th, 2020. Car and Driver listed the base price at $313,350 in 2009. This model will not appreciate in value without prominence.
One model that has proven to resell at a good rate is the Testarossa. It might be the most iconic of all Ferraris so it makes sense that this model would appreciate in value. It has been featured in countless movies and TV shows. A 1988 Ferrari Testarossa with 22,000 miles on it is sitting on a bid just under $85,000. Other versions sold for upwards of $150,000.
If you’re going to purchase a Ferrari as an investment, it’s vital to focus your attention on limited releases. The fewer cars Ferrari produces, the higher the value of those cars will be. It is important to note that all resale values are dependent on many different variables. Mileage, accident history, and prominence are a few factors that can affect the resale price of your Ferrari. Purchasing and driving a car off of a dealership’s lot is an exhilarating and unique experience that, whether your Ferrari goes up or down in value Ferrari is a unique brand that provides many opportunities for investors.