[Images: Darin Schnabel / RM Auctions, Story: Wired]
Last year when Chris Evans bought a Ferrari 250 GT California for £5 Million I thought two things:
- He’s mad!
- He’s even richer than I thought!
Turns out he may be onto something. A couple of weeks ago another very rare Ferrari, in this case a 1957 Testa Rossa, sold for $12.1 Million, and in this article in the Telegraph he explains why a Ferrari 250 GTO is worth £15 Million. Rare things that can’t be reproduced or created from scratch are where it’s at in the recession it seems. If only we’d started buying blue diamonds and rare Ferraris a few months ago!
This story does bring to mind the BBC documentary about modern art dealers propping up the price of various artists’ works in order to protect their own investment. The difference here I guess though is scarcity. There are tens of thousands of Warhol pieces out there, and thousands of Hirst pieces too, but only a few hundred really rare vintage Ferraris.