Ferrari (NYSE:RACE) World Record Priced 250GTO’s New Owner

Ferrari (NYSE:RACE) World Record Priced 250GTO’s New Owner

Ferrari (NYSE:RACE) World Record Priced 250GTO’s New Owner

$RACE

Two weeks ago, when the news broke of the $70-M sale of the 1963 Ferrari 250 GTO s/n 4153, speculation abounded as to its new owner, as it was a private treaty transaction.

Soon, word leaked out that the buyer is David MacNeil.

The Big Q: Who is David MacNeil?

The Big A: Mr. MacNeil is a Car Guy, and the owner of WeatherTech, a producer of automotive accessories, and the main sponsor of the Laguna Seca circuit in California, as well as the IMSA SportsCar series.

Mr. MacNeil is an experienced sports car racer and car collector. He also owns the WeatherTech Racing team, which will compete in the year’s Le Mans 24 Hours.

Mr. MacNeil’s rise to automotive fame began in Y 1989, when he mortgaged his house for $50,000 to start a business importing automotive floor mats from the UK to the USA.

While working as Vice President of US sales for the Mercedes Benz’s AMG he saw that the quality of mats fitted to US luxury vehicles was very poor, except say for Rolls Royce and Bentley, and while on holiday in the UK he learned that the quality of some UK-made floor mats was much higher.

A light went on!

And soon Mr. MacNeil began to manufacture his own mats in the USA, under the WeatherTech brand, and the company expanded to produce other accessories such as boot/trunk liners, pick-up bed liners, mud flaps and seat protectors, as well as a pet feeding system said to protect animals from harmful toxins, prompted by the death from cancer of  3 of his dogs.

Mr. MacNeil always encourages other companies to manufacture in America, as WeatherTech does, and famously ran an advert at the 2014 Super Bowl to hammer home that message that entrepreneurs can succeed defying the anti-business odds in the US at the time by manufacturing in the US.

Mr. MacNeil is a long time racer competing in the 12 Hours of Sebring, and now his son Cooper races too, and is 1 of the WeatherTech team’s Le Mans drivers.

He also races a Ferrari 488 Challenge, and made his Daytona debut in it earlier this year.

The 250GTO is not his only Ferrari.

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 140.34 12 June 2018 1.26 140.58 140.9 139.45 428,262
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Bullish (0.46) Bullish (0.44) Bullish (0.36) Very Bullish (0.58)

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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