Aging UK Rocker Dubbed “The Buffett” of Classic Ferraris

Aging UK Rocker Dubbed “The Buffett” of Classic Ferraris

Aging UK Rocker Dubbed “The Buffett” of Classic Ferraris

$RACE

Nick Mason made his 1st fortune playing the drums for Pink Floyd.

His 2nd came from racing old cars. Specifically, vintage and classic Ferraris that today are among the most expensive cars on the planet.

He recently took the star of his collection, a 1962 Ferrari 250GTO flat out up the 1.16 mile track at the Goodwood Festival of Speed, about 60 miles South of London in the rolling South Downs National Park.

The annual event has grown from a small, hillclimb race  to a full-on weekend of supercars from around the world.

He bought the 250GTO Ferrari some 40yrs ago.

A similar car sold for a record $38.1-M in Y 2014.

 “Everyone thought I was completely insane, including myself I think,” Mr. Mason said. “But now they think I am the sort of Warren Buffett of motoring.”

In 1969 I had a 250GTO in my garage, and offered it to Warren Buffett for $15,000, he did not see the value.

I talked with him that year with Edward Delaney, the head of Merrill’s Newport Beach, CA office about Ferrari’s for over 2 hours in my office. I had a 250GTO, I might have sold it for $11,000 back then and would have been happy to get it, a used race car was a boat anchor.  Memories…

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 86.16 7 July 2017 0.46 85.28 86.31 85.06 295,733
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Neutral (0.23) Neutral (-0.04) Bullish (0.26) Bullish (0.46)

Have a terrific weekend…

 

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