Last Friday, a collector ended up paying $2,640,000, including a buyer’s fee, for a 2003 Ferrari Enzo at an online auction.
The Italian supercar is 1 of only 400 ever made, including the 1 donated to the Vatican for charity, was sold over the world wide web, as auction houses had to reorganize in the wake of the C-10 coronavirus chaos, by RMSothebys, as part of their ‘Driving into Summer’ event organized between 21-29 May 21.
The Enzo’s official estimated selling price was $2.6-$2.9-M. The price is not the news, but the fact that the Enzo set a record for the most expensive car to have ever been sold “in a dedicated online-only collector auction to date”. And it was nearly beat by another Ferrari, a 1985 288 GTO, that fetched $2,310,000 during the sale session that took place last Friday.
This Enzo has only 1,250 miles (2,012 km) on the clock and looks just as good as when it left the factory 17 yrs ago. And it is very fast, even by today’s standards, with the 0-60 mph (0-96 km/h) at 3 secs and a Top Speed of 217 mph (350 km/h)+
The mid-mounted 6.0-liter naturally aspirated V12 kicks out 651 hp (660 PS / 485 kW) and 485 pound-feet (657 Nm) of torque, which are channeled to the rear wheels via a 6-speed automated manual transmission
Our overall technical outlook is Very Bullish in here, as all Key indicators are Very Bullish as it approaches its all time highs at 179.21 marked on 18 February 2020.
Ferrari (NYSE:RACE) finished Thursday at 173.09, – 2.20 in NY. Just off its all time highs.
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!