Fer­rari ups and downs

Classic Car Weekly (UK) - - Auction News -

As Foskers of Brands Hatch, the UK’s old­est in­de­pen­dent Fer­rari spe­cial­ist, re­ports in its in­for­ma­tive re­view of Fer­rari trad­ing in 2015, the last year has been one of con­trasts for both clas­sic and mod­ern Fer­raris alike. Cer­tain mod­els have done very well over the last 12 months, it says, in­clud­ing car­bu­ret­tor-fed 308s, Ber­linetta Box­ers, the F355, 550 and 575, and the rare Su­per­amer­ica, in par­tic­u­lar.

The Kent dealer cites the ex­am­ples of a 950 mile HGTC pack F1 car achiev­ing £339,000 at RM in Ari­zona in Jan­uary and a left-hand drive Su­per­amer­ica with the six-speed man­ual gear­box (one of just 43 in this spec) mak­ing a whop­ping £661,900 in a pre-Christ­mas shop last month. Mean­while, F355s that were chang­ing hands for around £70,000 at the be­gin­ning of 2015 have been trad­ing for six fig­ures, it claims.

It does point out though that not ev­ery model has ex­pe­ri­enced such amaz­ing growth, and any tem­po­rary sta­bil­ity in val­ues is a nat­u­ral mar­ket ad­just­ment for cer­tain mod­els, while many oth­ers are still on the rise. One of its pre­dic­tions for 2016 is that the mar­ket will see a purge of the large num­bers of sub-par, left-hand drive Fer­raris that have been im­ported to the UK in re­cent years.

Many of th­ese cars had been pur­chased cheaply in Europe with lit­tle thought or due dili­gence, it be­lieves, as some non-spe­cial­ist traders try to make large prof­its on the back of per­ceived-to-be con­tin­u­ally-ris­ing val­ues in the mar­ket. But most Bri­tish buy­ers are savvy enough to know that ex­cel­lent UK-sup­plied, right-hand drive ex­am­ples are much bet­ter buys.

Orig­i­nal­ity and ‘cor­rect­ness’ will con­tinue to be of ma­jor im­por­tance to buy­ers, it feels, es­pe­cially with clas­sic Fer­raris from the 1960s and ’70s. Foskers has also had a num­ber of en­quiries from own­ers of Tes­tarossas, 328s and even late Ber­linetta Box­ers in non-orig­i­nal red paint, who are in­ter­ested in restor­ing cars back to their fac­tory hues.

Cars in the £300,000-600,000 bracket may well see the most growth in 2016, the firm pre­dicts. Var­i­ous mod­els in this seg­ment, in­clud­ing al­most all Ber­linetta Box­ers and Di­nos, are still pop­u­lar with buy­ers – and it also ex­pects to see high de­mand for the very best, to­tally re­stored cars, with many will­ing to pay a sub­stan­tial pre­mium for a car that is fully sorted by the right ex­perts.

Richard Hud­son-Evans has been re­port­ing on clas­sic car sales for more than 25 years.

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