Ferrari Classic auction bonanza in 2014 – Top 9 made $145 million

Ferrari dominated the world’s classic car auction rooms in 2014, with nine out of the top ten sales being Ferraris and a 250 GTO fetching $38.115 million.

The classic car world has seen prices going through the roof in recent years and, unlike the classic car bubble of the 1990s, there seems no sign that prices are close to collapse.

In fact, prices continue to rise inexorably as a combination of more wealth from emerging markets and poor returns from many traditional investment sees many of the world’s wealthy seeing classic cars as a safe haven for their money. And you get to drive your investment too.

2014 was another record year for classic car sales, and it was a market dominated at the top by classic Ferraris, with nine of the top ten auction sale prices gained by Ferrari.

Top of the heap was the Ferrari 250 GTO #3851 GT which fetched $38.115 million when it went across the auction block at Bonhams sale in Monterey in the summer, although pre-sale estimates had been as high as $60-100 million.

Not too far behind the 250 GTO was a 1964 Ferrari 275 GTB/C Speciale which fetched $26.4 million at RM’s Monterey auction, with a 1954 Ferrari 375-Plus Spider Competizione sold at Bonhams Goodwood sale for $18.4 million in third.

The top 9 classic Ferrari prices for 2014 were:

• 1962 Ferrari 250 GTO $38.115
• 1964 Ferrari 275 GTB/C Speciale $26.4 million
• 1954 Ferrari 375-Plus Spider Competizione $18.4 million
• 1961 Ferrari 250 GT SWB California Spider $15.18 million
• 1964 Ferrari 250 LM $11.55 million
• 1967 Ferrari GTB/4 $10.175 million
• 1958 Ferrari 250 GT LWB California Spyder $8.8 million
• 1966 Ferrari 275 GTB/C $7.86 million
• 1953 Ferrari 250 Mille Miglia Berlinetta $7.86 million

And the added bonus, particularly for UK residents, is that any profits the owners who shelled out so much money for a classic Ferrari make when they sell on will be completely tax free.

Which makes them an even better investment.