In 2016 a record number of 812 Ferraris was offered at auctions and a record number of 486 cars was sold, but….
Although in Y2016 the 2nd highest sales price at auction ever was paid for the Y1957 Ferrari 335S Scaglietti, chassis 0674, (hammer price: $ 35.930.639 on 5-Feb-16), the average sales price of a classic Ferrari was $ 753.398, 18% lower than the average sales price at auction in Y2015 and 35% lower than the average sales price at auction in Y2014.
And the ‘sold-rate’ at the auctions in Y2016 was 60%, much lower than the 78-79% in the years before.
The numbers of the auctions confirm the signals we get from dealers, traders, owners and collectors. In 2016 there has been a very big supply of classic Ferrari cars on the market, the average duration of a car offered for sale is much longer than in the years before and cars were sold for lower prices in Y2016.
The second half of Y2016 actually showed a small decrease of prices of some prominent classic Ferrari models and in the first months of Y2017 we see more models being offered for lower prices.
For more information and ordering the ‘Red Blossoms Classic Ferrari Report January 2016’ visit our website: https://docs.google.com/…/1FAIpQLSc6HJroFt34_JXk8J…/viewform
Source: Classic Car Auction Yearbook 2015-2016, Adolfo Orsi/ Raffaele Gazzi