$50 million dollar Ferrari

Those classic Ferrari's bring crazy money. I watched a 1962 Ferrari GTO sell @ the RM Auction in Scottsdale, Arizona 3 years ago for $19,500,000. That same car today can bring over 35 million. These people that Own and deal in these kinds of cars don't need the money!!!
 
Vintage cars and vintage wine are becoming legitimate investments akin to buying stock and real estate. The big thing in Europe now is borrowing against your vintage wine collection just like people borrow against their homes. I forget the company, but say you need a few hundred K in cash, you take a few cases of your prized vintage wine to the vault, get it appraised, and then borrow against the appraisel. But with real estate and the stock market not doing as well lately, the super wealthy are looking elsewhere to invest and make money. But like anything, investments are a wave and these cars will peak out at some point, just like Apple did late last year. That one Ferrari will not hold that $50 million value.
 
This '62 Ferrari 250 GTO sold last summer for $35 million..built for Sterling Moss.

stirling-moss-ferrari-250-gto.jpg
 

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