In 2017 a record number of Ferraris was brought to auction. In total 818 cars, of which 65% was sold with an average hammer price of $ 514.000,-. When compared with 2016 and years before, it is clear that the price correction is continuing in the classic Ferrari market.
Although the sold rate of 65% was higher than in 2016 (60%), it was significantly lower than the average in the last 10 years (69%) and the average of all cars in 2017 (75%).
Op top of that the average hammer price of $ 514.000 in 2017 was 32% lower than in 2016 ($753.000). It is the third year in a row that the average hammer price is lower than the year before and in 2017 it was less than half of the $ 1.165.000 in record year 2014.
Top sale was the 1966 Ferrari 275 GTB Competizione, sold at the Gooding & Company Auction in Pebble Beach (19-aug-2017). The new owner bought the silver grey racer for $ 14.520.000.
An analysis of these numbers in the Classic Ferrari Value Development Report, which will be published in November 2017.