Ferraris were once again the undisputed focal point of the collector car marketplace in 2016. Given their importance to the markets, they were also the center of attention in Auction Editor Rick Carey’s reports on Sports Car Digest, with nearly 190 of Maranello’s finest methodically examined this year.
Examples that went under Carey’s microscope included a 430 F1 with “interior carbon fiber trim [that] looks like it came out of a J.C. Whitney kit” to a fabulous alloy-bodied 250 GT LWB California Spider that sold for $18,150,000. Carey reported the latter was “sold by Gooding in 2010 for $7,260,000 before the most recent cosmetic work by Bob Smith Coachworks but even taking that considerable expense into account this is a serious price, effectively doubling its value in six years.”
Although not directly analyzed by Carey, the top auction price of 2016 also went to a Ferrari, the 1957 335 S Spider Scaglietti that sold for $35,711,359 (€32,075,200, £24,693,782) at the Artcurial Retromobile auction in February. Notably, using the Euro and Sterling, the sale price for the 335 S broke the all-time auction record set in 2014 by the 1962 Ferrari 250 GTO (€28,528,626, £22,843,633), although it finished second when converted to dollars.
What will happen to Ferrari prices in 2016 and beyond? Will the Trump presidency usher in a new wave of optimism in the markets? We’ll soon know with the Scottsdale/Kissimmee auctions coming up soon in January, followed quickly by Paris sales.