The Market Guide is Back! In the August 1 Cavallino 238!
The Past: Over the past tortuous months, the market initially stalled but began moving again very quickly. The auction houses switched to viral events and found a ready audience. Dealers took to their phones, email blasts and internet sites to sell cars, and again found a ready audience.
The Present: This virus recession continues, and prices for the most part have begun to decline, and this downward trend is reflected in the Guide. While there is activity, there is not enough to sustain the previous level of pricing. While many cars have been held off the market (as fortunately most owners are still in a relatively good financial position), there are still too many cars being offered for the market to absorb, since for many buyers, it’s still a matter of wait and see.
We have kept the lower end pricing about the same, as we have not seen many sales below this low level (and we factored out panic sales). The high end is where you will see the decline. Many valuations were extremely high, and sellers are willing to let the cars go and bank in any gains they made over the years.
As noted previously in Cavallino, Ferraris with high build numbers don’t do as well as Ferraris with low-build numbers, the limited-editions and the specials. This has always been so. And then we have the market that knows no bounds – the Big Ferraris. There has been active private selling of the bigger and more important Ferraris, owner to owner, and these prices have not only held up, but gone up.
The Future: The virus will slowly disappear, and the economy will gradually improve, but the Ferrari market will stay flat for the foreseeable future – sellers offering too many cars, buyers looking to wait and see. There is one bright spot – some pre-owned models have dropped into a range where a 2nd and 3rd tier group of buyers can afford the Ferrari of their dreams. That and an extended warranty makes for a happy new owner.
One prediction from one of your more savvy collectors – there is so much money being pumped into the economy that in a year or two, when the virus is over, there will be too few places to spend that money, so watch it go back into collectible cars again.
The Guide is available only in Cavallino magazine. To view it on a regular basis, you must subscribe.
The Cavallino Guide has listings for over 324 individual Ferrari models, with Years Made, Engine Type, Chassis Range, Model Type (Sport, GT, Production, Speciale), Low End Price Estimate, High End Price Estimate, and Arrows indicating Up or Down Movement.
** Please note that Keith Bluemel supplies the car type data only; the Cavallino staff supplies the pricing based on a survey of selected brokers and dealers and the auction houses.
ALSO FOR YOU IN CAVALLINO 238:
• A GLAMOUROUS GHIA
Bizarre? Yes. Baroque? Yes. Enjoyable? Absolutely. An Admiration by Historian Alan Boe.
• WHO WAS JOHN EDGAR? PART IV
Ferrari owner and entrant in the ‘50s. But who was he? The conclusion to his remarkable story by his son William Edgar.
• 308 GTB G4 MICHELOTTO EXAMINED
A 308 race car? Indeed. A look at one of these early GTB Ferraris by Keith Bluemel.
• IN MEMORIAM - Homages to Giorgio Nada by Franco Lombardi & Count Paolo Marzotto by Arnaud Blanfuney.
• GUIDA & MERCATO – Yes, it’s back! The latest price evaluations & auction results.