Napa Valley’s Tier 1 Ferrari (NYSE:RACE) Aficionados Gather

$RACE

It is not surprising on any given weekend to see a variety of exotic cars parked along the Main Streets in Calistoga, St. Helena, or Yountville in northern California’s Napa Valley.

What is surprising is to see 40 Ferrari Supercars in 1 resort parking lot.

The occasion was an event put on by the iconic Italian Supercar to give its loyal and select clienti a chance to view its new vehicles, and enjoy each others affection for the marque.

To participate in one of these annual events, on must Own a Ferrari and be Invited by the company.

Ferrari’s start at $200,000+, as with the new 2018 Portofino, to the LE (limited-edition) HyperSupercar the La Ferrari Aperta that sells for $2.2-M, this LE is of 209 examples and was sold out on its announcement last year by invitation only.

Jordan Melville was one such person to receive an invitation: “They e-mailed me the announcement that it was out and within 2 days I was down at the dealership putting my money down. With the new model, when I go home I’ll unpack and whip on down to the dealership and put some money down on that as well,” he said.

The West Coast of the US is the #1 market for Ferraris, followed by the Northeast and South Florida.

The company recently brought 70 of its classic cars, one for each year of company’s history, to the Concours D’Elegance in Pebble Beach.

All of the cars, owned by the company, private owners and museums, were valued at $500-M.

From there, about 40 privately owned cars wound their way up the scenic coast, where owners wined and dined at various wineries, and finally landed at Solage in Calistoga.

Despite the super appearance of its cars, the way the Ferrari operates and markets the cars is low Key.

If you hadn’t walked through the parking lot of Solage Resort and Spa during the 2nd to last week of August, you might not have known about the 70th Anni event at all, unless of course you follow Ferrari daily in my column here in LTN.

Last year, the company said it shipped just 8,014 cars worldwide, but reported net revenue of $3.4-B from sales of cars, car components and other sources.

Ferrari is very choosy about who gets its best cars and its stock trade a lot higher than analysts estimates.

If you are not a current or previous Ferrari owner, you have no chance at all (to purchase a limited-edition car,” said collector David Christian, who for decades has raced and owned elite Italian cars. “I don’t care how much money you have.”  Thank you DC, we know that is true.

Have a terrific week.

  anniversary, Bullish, collectors, Company, Ferrari, money, Napa, owners, race

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