Ferrari (NYSE:RACE) Auction Planned for Maranello 70th Anni Celebration

Ferrari (NYSE:RACE) Auction Planned for Maranello 70th Anni Celebration

Ferrari (NYSE:RACE) Auction Planned for Maranello 70th Anni Celebration

$RACE, $BID

RMSotheby’s (NYSE:BID) points out it has sold more Ferraris than any other auction house and has offered  of the Top 10 most valuable Ferraris ever sold publicly.

The most expensive Ferrari sold through RM Sotheby’s was a 1956 290 MM previously owned by legendary race car driver Juan Manuel Fangio. It hammered at $28.05-M at a New York event. 2nd was the 1967 Ferrari 275 GTB/4S N.A.R.T. Spyder taking $27.5-M in Y 2013 during its Monterey California  event. Also at a Monterey a year later, one of the 3 1964 Ferrari 275 GTB/C Speciale made hammered at $26.4-M.

RMSotheby’s hopes to break those records during the 8-10 September weekend this year at what is described as being the biggest Ferrari auction ever.

This Ferrari sale will be held in Maranello, Italy and will gather some of the most valuable and sought-after Ferraris on the iconic car-maker’s 70th Anni.

According to the data provided by RM Sotheby’s the last time the firm and Ferrari joined forces was in December 2016 when the 500th and final LaFerrari coupe was auctioned in Daytona during the Finali Mondiali event.

It was sold for $7-M and all proceeds from the sale were directed to helping the earthquake victims in central Italy. The last LaFerrari establish the record for the most expensive new car ever sold at auction.

Notably, the hammer price was 5X higher than the LaFerrari’s original sticker price.

Details about the Ferrari cars headed to the auction block at Maranello will be published here as I learn about them in the weeks to come.

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 88.75 1 Jun-2017 2.03 87.19 89.09 87.09 633,993
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Very Bullish (0.63) Very Bullish (0.56) Very Bullish (0.62) Very Bullish (0.71)

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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