HAGI FERRARI INDEX

THERE WAS PRECIOUS little movement throughout the collector-grade classic car market in November, with month-onmonth adjustments of no more than a single percent either way across the board. Indeed, since the spurt put on in September, all sectors have subsided. Moreover, based on the year to date there is no possibility that the HAGI Top, Ferrari and Porsche indices will match 2016’s year-end figures over the month to come.

With a marginal gain of 0.4% in November, Ferrari, like all other segments, remains shy of its standing in September. That month represented a peak in most segments, but Ferrari’s peak was in February, and today the HAGI F is below its level at the end of January.

That translates into year-to-date growth of 1.35%, and 4.33% year-on-year for a brand that has historically achieved annual average growth rates in the order of 15%. It will be a miracle if in the next month the HAGI F comes anywhere near the 6.37% achieved in 2016.

This is not just a Ferrari story but part of a general alignment across most segments of the collector car market, so investors whose only motivation is pacy growth won’t be full of seasonal cheer. But then again they won’t be reading this.

Cars are currently underperforming other areas of the collectables sphere, as well as other mainstream financial measures. With trading volumes remaining subdued, those who own classic cars can get on with enjoying them – and of course Ferrari owners will reflect that, regardless of recent developments, the HAGI F has more than tripled since 2008.

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