HAGI FERRARI INDEX

FERRARI, MORE THAN any other marque, is defined by its rarity. In February the HAGI F index fell back 5.03% – more than any other individual marque measure, and more than the overall collector-grade market as represented by the HAGI Top.

However, in March Ferrari recovered a larger proportion of the previous month’s losses than the other indices (some of which retreated further), gaining 3.69%. While all sectors are down in the first quarter of 2018, Ferrari is down the least – just 1.36%, compared with losses elsewhere of up to 8.32%.

As reported last month, year-on-year growth came to an end at the close of February, pretty much across the board, for the first time since the market returned to growth in 2010. One month on, that remains the case for every sector apart from Ferrari, which year-on-year is just up, with a gain of 1.15%. Elsewhere yearon-year deficits are as much as 4.59%.

All this reflects the inherent volatility of Ferrari values, which is partly accounted for by generally lower historic production volumes across most collectable models compared with other manufacturers.

In March, strong prices for authenticated and confirmed very-low-mileage F40s, both in Europe and the US, made a significant positive contribution. That’s because the F40’s capitalisation gives it a top weighting of 16.3% in the HAGI F, ahead of the 250 GT SWB and Dino 246 GT.

Of course, model weightings change as a consequence of the carousel of pricing, but this unique characteristic of Ferrari, determined by its production profile, will remain a constant within the market. Visit historicautogroup.com for further analysis.