Ferraris top auction investment
Image: courtesy of RM Auctions
When those with money to invest consider putting it into a classic car, it seems that Ferrari remains one of the top choices when you consider the long term prospects of the brand.
This month an auction in glamorous Monaco, saw three Ferraris making more money than any of the other classic cars for sale on the night.
A total of 22 vintage Ferraris went under the hammer, with a 1957 Ferrari 625 TRC Spider selling for $6.5 million to an anonymous buyer, who placed his bids over the phone.
Auto expert, Simon Kidston, said that the prestige, heritage and iconic nature of Ferraris meant that the classic cars created by this Italian firm remained at the top of the tree when it comes to investment.
A total of $41.8 million was spent during the Monaco auction, hosted by RM Auctions on May 13th. Millions of dollars were spent on other classic Ferraris, including a 1966 206 S Dino Spyder.
While vintage Ferraris designed for road use performed well at the auction, a car driven by Formula One legend, Michael Schumacher, went for $1.03 million, a little below the $1.1 million estimate which had been placed upon it.