$RACE, $GLD, $BID
Gold long considered as 1 of the best, most stable, safe-haven investments has made a lot of investors rich.
The most prized classic of them all, the Ferrari 250GTO, has officially become worth more than its weight in Gold.
On 4 January 2019, the price of Gold finished at $1285.60 oz on about $45.00 a gram.
The 250 GTO weighs approximately 1940 lbs.
If you take number convert it to kilograms and do the math, you will find that the 250GTO referred to is worth $55.00/gram, significantly more than the price of Gold.
Not all 250GTOs are valued at roughly $50-M, but based on current market trends, we would not surprised to see other examples trading hands for in excess of $50-M in the near to mid term. Higher in the long term.
Have a terrific weekend.