Several vintage Ferrari models sold for incredible prices at an auction organized by RM Sotheby’s at Monterey Automobile Week in mid-August.
The “unreliable” factor comes from the fact that they have either been incinerated in scrap metal, or have had an accident that damages the body structure, or are at least half-completed and yet to drive. are not able to.
Notably, a Ferrari 500 Mondial Spider Series I that had been burned to scrap without even the engine was successfully auctioned for $1.9 million.
A Ferrari 365 GT that looks like it was crushed by a fallen tree sells for 6 figures. An incompletely restored Ferrari 330 GT also sold for $180,000.
What all of these cars have in common is that they are all of low to very low quality, and without a Ferrari badge, one of them might not be worth a dime. So what is the reason that many people are willing to spend large sums of money to buy such “scrap iron” as mentioned above? The answer is that they still have exploitable value.
First of all, the value of an antique car lies in its rarity. For example, the $180,000 Ferrari 330 GT 2+2 Series II is one of only 36 right-hand drive cars produced. In addition, this particular car featured electric windows – an extremely rare feature at the time of the car’s launch (1976).
As far as the Ferrari 250 GT Coupé Speciale Pininfarina is concerned, it is one of only four cars in the range to have been completed by Italian design firm Pininfarina. In addition, the owner of the car is also a famous person, King Mohammed V of Morocco.
However, the most valuable factors in a vintage Ferrari car come from the original engine, transmission, and chassis. This means that if a Ferrari is restored by a classic or an authorized third party, they will always retain their value as an “original” Ferrari. This factor is even more valuable than gold in the case of rare or historically valuable cars.
Ultimately, it is the Ferrari brand name and image that make up the value of their classic cars. This element is made up of many small points. Some examples include their success in motorsport in the past, product quality is guaranteed, and the design (and distinctive red color) has always been bold enough to attract many.