They Shoot Prancing Horses, Don’t They?

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Ferrari-335S

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With the stock market resembling a roller coaster for the last 6 months, way too many predators have entered into the car market strictly to drive up and capitalize on the insane growth in values we’ve seen since 2013. Those old enough to remember 1990 and what Ferrari’s were pulling, will also remember what happened next.

In talking with some of the country’s top collectors with in our Fuelfed membership, there’s been some baited anticipation to see what will happen in Scottsdale. “Can it keep going up? Surely we’ve reached the outer edge of the bubble.” Maybe I should sell before it pops.”

Well, it seems it will remain 1989 for awhile longer.

 According to CNBC, an Ohio real estate developer was the buyer of a 1957 Ferrari that sold for more than $35 million on Friday, according to people familiar with the sale.

Sources say the winning bidder of the 1957 Ferrari 335 Sport Scaglietti that sold in Paris at an Artcurial Motorcars auction went for $35.7 million.

The new owner already has an enviable Ferrari collection — helped by the fact that he also owns a Ferrari dealership in Vancouver, British Columbia. Experts say he has about a dozen of the prized “prancing horse” brand cars in the plush garage of his home in Cortland.

His reported purchase of the 1957 335 S would mean he is now in possession of the most expensive car ever sold at auction. The final sale price with commission fees was nearly $36 million.

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