After three record years (Y2015-2016-2017) with every year more Ferraris offered at auctions, in Y2018 724 Ferrari cars, 11,5% less than in Y2017, were offered. Still the 3rd best year ever, and the brand with most cars at auctions, but a clear signal that the market was changing.
Ferraris have always had a significant position in the auction market, with percentages of 20-25% of the total sales turnover. In the last six years with extreme price increases of classic cars in general and classic Ferraris particular, the Ferrari turnover share grew to 34% in top year 2015.
For years the average sales percentage at auctions is around 70%-75%. For years Ferrari matched this number, sometimes even outperformed this average. But in Y2016-2017-2018 the sales percentages of Ferraris at auctions were much lower: 60%, 65% and 64%.
Besides this, the average sales price of Ferraris dropped from $1.165 million in Y2015 to $514.699 in Y2017. In Y2018 the average sales price recovered to € 722.363, partly realized by the record sale of the 250 GTO (sn 3413 GT) for $48,4 million at the RM Sotheby’s auction during the Pebble Beach Automotive week. Only this sale supported the average sales price with $ 67.000.
If you want to know what is going on, an analysis of these numbers and much more is published in the Classic Ferrari Value Development Report, which is available at the end of november.