As today’s enthusiasts well know, classic cars are more than a hobby. They are a multi-billion-dollar industry, and Enzo Era Ferraris (1947-1972) are at the Top of the lists.
Some devotees might complain that years of a strong collector market have raised prices for many desirable marques and models, but the rise in value has also sustained more interest than ever in keeping classic cars in Top condition and some examples as original as possible
The boom years for the classic industry have also created new factory support and strengthened previously existing support, with many legacy automakers including Ferrari taking keen interest in helping to keep the cars they built in the past on the roads of tomorrow.
Here, we take a look at the highest-profile factory classic program to find out what it have to offer. No one knows how vintage cars will be used 30 years from now, but the Maranello Outfit will tell you, there is no time like the present to enjoy a classic Ferrari.
Ferrari Launched its Classiche department back in 2004, promising not only parts and service for the prancing horses of yore but also one of the most detailed and painstaking authentication processes out there.
Beyond checking its records to ensure cars have their proper components, the company employs historians and metallurgists to dissect, sometimes physically, every inch of even multimillion-dollar historic racing Ferraris to determine the extent of originality.
This includes everything from bodywork to brakes, gauges to gear sets, emblems to exhaust systems.
This famous Red Book certification process, so named for the Red binder of documentation given to successful cars, was started in part due to Ferrari’s concern that too many incorrect or outright fake vintage Ferraris were populating events and the marketplace.
As a company that has always recognized the strength of its brand image, Ferrari founded its Classiche program in part to address this issue in the vintage Ferrari scene.
Today, Classiche certification is a big deal to buyers spending multiples of millions on significant Ferraris, and it can have a major impact on a car’s worth, perhaps more so than for any other automaker.
The process is not cheap.
It starts at a few thousand dollars + shipping your car to Italy and can escalate into the 5-figure range with complications, but it’s the go-to method if you need to be sure your 250 GT SWB is the car it is claimed to be.
The good news for well-heeled owners
Cars with incorrect parts can be restored to factory-correct by Ferrari, including building a proper engine from scratch, right down to a brand-new and correctly serialized engine block casting.
The final sign-off on the Classiche certification is done by Enzo Ferrari’s only son, Piero, 72 anni,
In Y 2017, FCA announced the formation of its expanding FCA Heritage division, which provides many Classiche-type services for its other brands, including Alfa Romeo, Fiat, Abarth, Maserati, and Lancia, in varying degrees.
Enzo Ferrari’s iconic Italian Supercar manufacturer claimed the title according to the latest Brand Finance Global 500 2019 report launched at the World Economic Forum in Davos.
HeffX-LTN overall technical outlook for RACE is Neutral to Bullish, overhead resistance is at 157,76, and support at 149.06, all Key indicators are flashing Bearish in here. Ferrari finished at 155.32, -0.58 Thursday in NY.
Goldman Sachs upgraded Ferrari to ‘buy‘ from ‘neutral ‘calling the stock’s pullback a good “entry point.”
“We upgrade Ferrari from Neutral to Buy, offering 15% upside to our new price targets of 182. Our thesis, outlined in Life of Luxury published last month, is fundamentally unchanged post Ferrari’s in-line 2-Q results. We view the stock’s recent pullback (-7% since July 16) as a good entry point in here.
Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term investment, and I see it at 200/share in that frame.
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