The Special Edition LaFerrari Aperta Hammers for $10-M at Fiorano

The Special Edition LaFerrari Aperta Hammers for $10-M at Fiorano

The Special Edition LaFerrari Aperta Hammers for $10-M at Fiorano

$RACE, $BID

The $10-M LaFerrari Aperta in Rosso Fuoco w/Bianco Italia double racing stripe livery pictured above hammered for $10-M.

Saturday night at RM Sotheby’s Maranello (Fiorano) auction someone bought the sold out Ferrari-one-cannot-buy.

The last built for Charity s/n 210 Ferrari LaFerrari Aperta sold for $10-M Saturday night at the RM Sotheby’s (NYSE:BID) auction at Ferrari’s Fiorano track in Maranello, Italy.

That Ferrari a record price for any modern car. It is also 2X RM Sotheby’s high end estimate..

“Tonight in Maranello, Italy, at the historic Pista di Fiorano during the Ferrari’s 70th Anniversary celebrations, a 2017 LaFerrari Aperta, the Italian marque’s ultimate HyperSupercar, set a record for a 21st Century car when it sold for €8.3-M at the RM Sotheby’s Leggenda E Passione sale,” RM Sotheby’s said in it statement to the media.

Fully, 12  collectors were in the bidding, none of whom were named, this is not unusual in such Tier 1 transactions whether public or private.

The entire proceeds from the sale of the car will be donated to Save the Children, an international organization that works to improve the lives of disadvantaged children in more than 120 countries worldwide, Ferrari said.

In this instance, the funds raised will be used for educational projects in Asia and Africa.

The Big Q: Why has this Aperta marked the highest price ever for a modern car?

The Big A: Ferrari’s marketing genius.

Because unless you were one of the 209 invitation only buyer to purchase one, you could not purchase one until Saturday night’s auction.

“Create the Want” in the words of the world foremost fine arts dealer, Joseph Duveen.

Ferrari said that this is Aperta #210, not one of the original 209 announced last year in Paris, when it was also announced that all 209 were sold prior to the Paris Auto Show debut.

Last year’s sold-out announcement caused some billionaire/millionaire collector pain world wide. There were were numerous reports of accusations, recriminations and at least 1 lawsuit.

So, when Ferrari announced that 1 more Aperta was going up for sale at its auction in Fiorano, the collector car world responded, and the bidding started even before the event, if you really wanted that car you pledged to RM Sotheby’s at you want to be The Last Bid period, and your bank guaranteed the no limit offer to the auction house.

The results for the rest of the auction are not out yet, but some other Ferraris went for large sums.

A California 250 GT SWB went for $9.5-M, a 1958 250 GT Cabriolet Series I for $5.7-M and the original condition 1-off aluminum-bodied 365 GTB/4 changed hands for $2.2-M.

As soon as the full sell through results are received I will up date this report let you know.

Rest assured there is no bubble in this Tier 1 Ferrari market, there is a shrinking of Tier 1 Vintage and Classic cars to continue driving it North.

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 109.36 8 September 2017 0.77 110.45 110.54 108.96 1,406,400
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Bullish (0.30) Neutral (0.15) Neutral (0.16) Very Bullish (0.58)

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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