Market Watch: collectable Ferraris take another hit
In the latest Price Guide Movers update, collectable Ferraris increasingly fall into a buyers’ market. Those modest percentage declines can equate to six-figure losses, so should you buy now or wait?
The steel bodied 275GTB leads the downward trend in collectable Ferrari prices, losing 8.8% since our last update. That makes rough or badly restored examples £925k, with good cars now £1.1m and well restored cars £1.35-1.55m. That makes a mint example £130k cheaper, enough to buy a mint 308GTB qv and Testarossa for daily driving duties.
That’s because those too have fallen again, by 1.2% and 5% respectively. The downward trend has been running for long enough to convince us that it’s more than temporary blip, but it remains a steady slide rather than an alarming crash. For longer term owners these cars would have to fall at a more catastrophic rate to become truly troubling while bargain hunters will have to be patient.
Price Guide Movers is part of 23 pages of buying tips and advice, including Quentin Willson’s Hot Tips, Ads on Test, the Buying Guide and our latest Price Guide Quarterly update for 1400-plus classics, which we compile in association with Hagerty Insurance, in the latest issue of Classic Cars.