1966 Ferrari 275 GTB is the Most Expensive Car Sold In an Online Auction

1966 Ferrari 275 GTB is the Most Expensive Car Sold In an Online Auction

#Ferrari #auction #online

$RACE

 As collector car auctions moved online, collectors continue to buy rare and historically important cars.

This week 1966 Ferrari 275 GTB Long Nose set the record for the most expensive car ever sold on the Internet.

The berlinetta sold for a jaw-dropping $3.08-M at Gooding & Company’s Geared Online sale this week, according to a press release from the auction house.

The hammer price easily broke a record that was set just 3 months ago, when a 2003 Ferrari Enzo sold for $2.64-M during an auction held by RM Sotheby’s.

Online auctions offering much desired vintage and classic models have no issues selling, Ferrari is #1.

The HAGI Top Index traded down marginally for the month (-0.24%) and was up 3.87% for Y 2020 to the end of July.

Exceptional classic and collector’s cars continued to perform well overall. This was most visible in the Ferrari sector which rose 2.43% during the month.

The HAGI F (Ferrari) showed a YTD performance of 13.53% as well as 7.85% over 12 months.

There is F1 racing this weekend at Barcelona, tune in.

Ferrari is The Aristocrat of the automotive sector.

Enzo Ferrari’s iconic Italian Supercar manufacturer claimed the title according to the latest Brand Finance Global 500 2019 report launched at the World Economic Forum in Davos

HeffX-LTN overall technical outlook for RACE is overall Very Bullish, the resistance is Nil, Key Support is at 186.78.

HeffX-LTN overall technical outlook for RACE is overall Very Bullish, the resistance is Nil, Key Support is at 186.78.

Our overall technical outlook is Very Bullish in here, as all Key indicators are Very Bullish.

Ferrari finished at 194.30, -0,02 Friday in NY, just shy of its all time intraday high at 196.53 marked earlier this wk.

The Maranello Outfit’s shares were raised to Buy from Hold at HSBC.

Ferrari will continue to create value the long term as it becomes the world’s 1st Super Luxury brand.

Ferrari is a quality 1st long term luxury products investment, and I called it at it at 200+/share ATV (after the virus) and sided with BAML to 230 long term, then…

Thursday, I raised my long term target to 300, a Strong Bull call.

Ferrari has an average rating of “Buy” and an average target price at 194.33.

Ferrari finished at 194.03, 0.02 Friday in NY, just shy of its intraday all time highs at 189.26 marked on 3 August 2020.

The Maranello Outfit’s shares were raised to Buy from Hold at HSBC.

Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term luxury products investment, and I have called it at it at 200+/share long term, adjusting it to 200/share short term (after the virus) and siding with BAML to 230 long term for now.

The stock is now considered defensive in the sector.

Have a healthy weekend, Keep the Faith!

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Paul Ebeling

Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he it the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

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