The Ferrari market rises and falls in cycles influenced by the global economy, generational shifts and currency swings. The collectable Ferrari market was last a buyer’s market just after the double whammy of the real estate crash of 2007 and the Lehman Brothers bankruptcy in September of 2008. That market bottomed in 2010 and started a strong recovery, peaking in 2014. As we look back to the heady days of 2014, we then received only one or two calls or emails a day from people who wanted us to help them to market their Ferraris. There were more buyers than sellers. Today, we receive half a dozen calls or emails every day and the number is growing. The roles have reversed. Today there are more sellers than buyers.
With each call, we laboriously explain … More
Tesla Motors Inc. appears to have missed its revenue target for the latest quarter by $315 million, suggesting the company is much better at selling cars than making them.
Breitbart News reported last month that Tesla’s CEO Elon Musk had told a shareholders’ meeting last month that the company, despite never meeting production goals, will revolutionize the auto industry to increase production over the next five years. He predicted … More
The collector car market cratered in 1989-90.
What were the significant events that preceded the collapse?
1. Auction companies popped up everywhere trying to get a piece of a rapidly growing number of transactions, increasing prices and resulting commissions;
2. Cars sold to speculators, not collectors;
3. Individuals like Hans Thulin took on huge bets on the collector car market’s continued rise; Thulin eventually failed to consummate his purchase of GTO 3607 at Monaco in 1990 for $10.7 million and a year later it was sold … More