Not a day goes by where you don’t hear some vintage Ferrari going for record breaking prices. There’s been an increase in values for many Ferrari. I’ve seen this just on my own experience browsing through classifieds.
The resurgence of the Testarossa and Contach has been making the media rounds. I think they definitely passed the dip where their style were considered ‘outdated’ and garish. They are now cemented as the icons they are. I mean this makes sense to me, a lot of the vintage Ferrari can look ‘goofy’ or ‘overdone’ given a few model cycles after their initial release….only to rise again like a phoenix from the ashes – reclaiming their glorious spots in automotive history.
In a way, I think every car goes through this (more so with exotics) – a period where the design is fresh and awesome, then it gets overshadowed by the next fresh and awesome design – then it gets relegated to the dustbin of irrelevancy….until many years pass by where they are rare and special again and begin their journey to ‘classic’ status (and priced accordingly.) This is where I argue the 360/430 will continue to drift down for the next 10-15 years as they will slowly but surely be overshadowed by the 458/458t and the 458’s successor…and then to the 458…and the cycle continues.
Curious, I decided however to go to Haggerty and look up some vehicles. First I looked at the Testarossa, and sure enough – there you see the crazy spike. The same can be said about the 328 and 348. Interestingly enough, the 355 seems to have hit its ‘dip’ and I argue will start to rise in some time.
I was most curious about the other two ‘red-haired’ step children of the epoch along with the sometimes maligned ‘Mondial’ – the 308 GT4 and 400 series.
I saw that sure enough the prices on the two matched my anecdotal experiences- they are spiking again. Of course this has a lot to do with the good economy and other record-breaking Ferrari sales “lifting the tide” so to speak.
I would be lying though if I didn’t say I was somewhat surprised with the Mondial was flat. Is this a case of naysayers being correct? That the Mondial is cursed with some special badge of dishonor that has escaped the equally and sometimes more criticized 308 GT4/400 series? Is this a self-fulfilling prophecy, where parroting media simply try to outdo each other on who can bully a car more?
I need not preach to the choir here on the Mondial chat board, we all know the truth – these cars are the most underrated exotic (ever?) That being said, I see prices steadily climbing (by word of mouth) in Europe. I wonder if and when this will hit the shores of the states….
We are of course at the mercy of macroeconomic business cycles and the possibility of geopolitical black swans that could sink prices. That being said – I’m glad to be here now look forward to what 2015 and the future of the Mondial will bring…