Latest / BREAK/FIX the Motorsports & Vehicle Enthusiast Variety Show / The Ferrari Market isn't just Hot... it's in a Heat Wave!

Transcript

The Ferrari Market isn't just Hot... it's in a Heat Wave! · BREAK/FIX the Motorsports & Vehicle Enthusiast Variety Show

0:00
As part of Ferrari Fridays, William Ross from the Exotic Car Marketplace
0:04
will be discussing all things Ferrari and interviewing people that live
0:07
and breathe the Ferrari brand.
0:09
Topics range from road cars to racing, drivers to owners, as well
0:13
as auctions, private sales, and trends in the collector market.
0:28
Hey, everyone.
0:29
William Ross here.
0:30
Welcome to the Ferrari Marketplace podcast and vlog.
0:33
We are here with our good friend Chris Miele, and if we can talk him into it,
0:36
new co-host here and get him on this show a lot more All the auctions are pretty
0:41
much done for the year, all the big ones.
0:43
We started in the beginning of the year at Kissimmee, the
0:45
Bachman collection at Mecum.
0:47
We just finished up Monterey.
0:48
So let's talk where the Ferrari market has gone this past
0:52
year, because it's gone insane.
0:54
Some of these numbers that everyone is seeing is just unbelievable.
0:57
We got some prime specimens right here behind us that have just, like, gone
1:01
through the roof in regards to value.
1:03
We got a F12 TDF, and we got a 812 Comp back here.
1:06
It's just unbelievable where price has gone, not just on
1:09
those, F40s, F50s, everything.
1:11
We've just seen some insane numbers, and this gentleman here can give us some great
1:14
insight into that, 'cause not where it's gone to this year, but where it's headed
1:18
in the next couple years, 'cause it's just gonna keep going up, and we can see
1:21
what's influencing that and everything.
1:23
But let's, let's start with the Bachman collection at Kissimmee, because that
1:26
really kind of all of a sudden really set the market through this year and
1:30
what came to up front auction and sale.
1:33
We'll actually go a little bit further back.
1:35
Last year in June of June of 2025, we began to, uh, work
1:39
with the Bachman family.
1:40
We did the appraisal.
1:41
It was myself and two former employees of Ferrari Classiche.
1:44
And we sat there for, I don't know, a week and a half, two weeks, little
1:48
bit less, and we took every car.
1:50
We appraised them.
1:51
We started to look at the market.
1:53
From that point forward, the market was starting to change.
1:56
The first big shot was Pebble Beach last August, 2025.
2:01
Mm-hmm.
2:01
The numbers started to jump.
2:02
You saw, obviously, the yellow F50, the F40 LM. You start, saw a lot of big cars
2:08
go off, and then it just continued to run.
2:11
And then, obviously, through the fall it was getting stronger
2:14
and stronger month by month.
2:15
We kicked it off January in Kissimmee.
2:17
We did the Mecum Bachman auction.
2:20
That just blew the lid off of it, and we had, I think, 19 world records, of which a
2:25
bunch of them have been already surpassed.
2:28
Yeah.
2:28
Yep.
2:28
And now you go fast-forward through the spring auctions and a bunch of different
2:32
things, and between all the online stuff you're seeing on Bring a Trailer,
2:36
you're seeing stuff obviously with RM and Dupont have their online sites.
2:42
Now Pebble Beach 2026, it's gonna keep going.
2:45
It's gonna keep going up and up.
2:46
The Bachman collection was its own unique animal, so to speak, because basically
2:51
every car was one owner, owned by them.
2:53
Mm-hmm.
2:54
Mm-hmm.
2:54
There was those couple outliers because they're a little more
2:56
rare, the F50, for example.
2:58
Mm-hmm.
2:58
But those really put it out there in regards that, hey,
3:02
people are willing to spend that.
3:03
Like that green 360 Challenge Stradale, that was an incredible number.
3:07
Yeah.
3:07
So now we're seeing, you know, in the market this past year, Challenge
3:10
Stradales are just going through the roof.
3:11
I mean- Mm-hmm … probably safe to say they've doubled in value in a year.
3:14
More.
3:15
You know?
3:15
You know, if you look at a car, the gentleman who owns these
3:17
cars, he purchased a Challenge Stradale in February, March 2025.
3:22
Challenge Stradale Tour de France blue without a stripe, rare color spec, and
3:27
that car was roughing it out sub-400.
3:30
Now that car's north of a million.
3:32
You know, you're up 150%.
3:34
That's a big, big jump, yeah That's nice return.
3:35
Yeah That's a big, big, big, big- Well, the one thing we're finding too is
3:39
color is starting to play a big role in the values too, wouldn't you say?
3:42
Yeah, yeah.
3:43
It's just, it's just crazy.
3:44
You know, you're watching people jump up hundreds and hundreds
3:47
of percents on, on these cars.
3:49
And to your point, for the longest time, mileage was the most important
3:53
factor, for the longest time.
3:55
It was always, "Hey, I have a car." Here's what it is, but it has 200 miles on it.
4:00
And people really were more interested in the mileage more
4:04
so than the options on the car.
4:06
Now, that really changed.
4:08
After the Bachman collection, I saw the big change because color was everything,
4:12
and there was cars in that collection that, quite candidly, were a little odd,
4:17
not something that you would normally see.
4:18
Yeah.
4:18
A yellow car with green- Mm … a yellow car with red, a yellow car with blue.
4:22
Now fast-forward, obviously Phil and Martha had a great vision because you
4:26
can really see where the cars went, and some of the most eclectic cars in the
4:30
collection pulled all the big numbers.
4:32
But granted, they had great mileage and great provenance, single ownership,
4:37
great service history, low, low miles.
4:39
Yeah.
4:40
Well, they'll- And that all tied in … full luggage sets on all of
4:41
them- Yeah, exactly … from Scadoni.
4:43
Yeah.
4:43
Stuff that you never see on other cars.
4:45
Everything was custom, including the owner's pouches.
4:48
Yeah.
4:48
I mean, everything was done.
4:49
A custom delivery book at the factory with most of the cars.
4:53
They picked them up as factory deliveries.
4:55
That's not stuff that you normally see, but people are now willing to
4:58
pay a lot of money for that, which you never really saw in the past.
5:02
Some of those colors were, say, rather eclectic in
5:05
regards to exterior and colors.
5:06
I mean, is- that's the strength of the relationship the
5:08
Bachmans had with Ferrari- Yes
5:10
to be able to get that?
5:10
'Cause I mean, those are … I'm sure at some point Ferrari would say,
5:13
"No, we're not gonna do that." Yeah.
5:14
"That doesn't make sense." But- Yeah, I don't think- … they let them
5:15
do it … some of the stuff that they've done, we even talked about
5:18
it after the fact, I don't think the factory would ever do again.
5:21
All the Cavallinos were painted different colors.
5:23
Some of them were green, some of them were baby blue.
5:26
Yeah.
5:26
I mean, I've never seen Cavallinos painted those colors.
5:28
Yeah.
5:29
So for me, even myself looking at it as a Ferrari dealer for a couple decades,
5:33
I've never ever, ever seen that happen.
5:36
Yeah, it was interesting, and it's really unique.
5:38
Now you're starting to see these unique specs and, you know, between
5:42
the power of the internet and people taking a photo of their car and they
5:44
put it on their Instagram page or their Facebook page, whatever it
5:48
may be, now you're seeing stuff that you never would see in the past.
5:51
I mean, you know, something pops up on your phone and they'll say,
5:54
"Hey, this car is in Germany," or, "This car is in wherever."
5:57
Yeah.
5:57
What's interesting, too, is obviously we get the lower production stuff.
6:01
Like, you do your Challenge Stradale, then you get into 430 Scuderia,
6:05
you got your 16M, then you get your 458 Speciale, Speciale Aperta.
6:09
Those were the ones expected because, you know, those were the special
6:12
cars, special editions produced.
6:14
But we had a conversation earlier, you brought up a really good point.
6:17
Try and find a 2005 360 Modena manual car.
6:21
Yeah.
6:22
Those ones also are really just jumping up in value 'cause- Mm-hmm … I mean,
6:26
you used to be able to, two years ago, get a factory manual 360, 200 range.
6:30
Right.
6:31
Maybe even high, depending on mod stuff.
6:32
Now you're three, 400,000 easily.
6:35
Mm-hmm.
6:35
And if it's down that, you know, and if it's a later- Yeah, late spec
6:38
car … manufactured car- Yeah … it's gonna be even more than that.
6:41
It's anything that's rare, right?
6:42
A 575 in a manual gearbox, a Superamerica in a manual gearbox.
6:47
Anything that's unique is what's gonna bring all the money.
6:50
Now, if the car is numbered on top of that- That's really
6:53
gonna make a really unique deal.
6:55
Now, if the car is individually numbered, case in point, 355 Fiorano,
7:00
an F512 M on a US spec car, each car had an individual plate numbering it.
7:05
We have both number one of 100 on the 355 Fioranos.
7:09
That's here in the back.
7:10
We have car number one of the F512 M. So people will pay
7:14
for the first or the last car.
7:16
Mm. The Bachman cars, as you know, were the last ones on the most part.
7:20
Yeah.
7:20
Their 355 was number 100 of 100 They did not get an F512 M or an F50 because
7:27
there was a, a little bit of a story there- … that Phil had a, Phil had
7:31
a little bit of a run-in with them.
7:32
Yeah.
7:33
So he canceled a few orders.
7:34
He would've had the last F512 M. He probably would've had, obviously, for
7:39
sure, one of the later F50s, but the US F50s were in the first run because of the
7:44
OBD2 deal that was going on at that time.
7:47
Yeah, the transition, yeah.
7:47
So he wouldn't have had the last F50, but for sure he would've had a yellow F50.
7:51
For certain he would've had a yellow F50.
7:52
Oh, I wouldn't doubt it.
7:53
You see a lot of specialty dealers popping up, I'd say, in the past 10,
7:58
5, 10 years, whatever- Yeah … in regards to getting into these, I'd say,
8:01
modern collectible, that genre of car.
8:03
Mm-hmm.
8:04
How much do you think they're actually helping drive this market going up?
8:07
Oh, they're doing an amazing job.
8:09
There's a lot of guys out there that are really focusing on it.
8:12
There's guys that have just an online presence on Bring a Trailer.
8:15
There's guys that have facilities throughout the US- Mm-hmm … that do
8:18
an amazing job, and not just Ferrari.
8:21
They're doing other brands such as Lamborghini, even, you know, some of
8:24
the other brands that are out there.
8:25
They're doing stuff with Porsche, the slant noses, the flock bows.
8:29
Yeah.
8:29
The really unique spec cars, the Carrera GTs that are in white.
8:33
You know, most of the cars you'll see are silver, but, you know, if you
8:36
see a black one, a yellow one, a red one, it's gonna bring all the money.
8:40
So there's guys that are just really specializing on that,
8:43
and they've done a great job.
8:44
They don't have to build a facility like this, a 25- No … $30
8:48
million facility that has all of Ferrari's corporate identity.
8:51
But they can build a very cool warehouse type space.
8:56
It's clean, neat, proper.
8:58
They got phenomenal inventory.
9:00
The guys really know their stuff at these places.
9:03
They know the product inside and out.
9:05
You know, the one advantage that we have on the Ferrari side is
9:09
our connection with the factory.
9:10
Yes.
9:11
So that's where we offer something that's a little bit different.
9:14
And then same thing as far as the lending.
9:16
Any Ferrari that's ever produced, Ferrari Financial will finance it.
9:19
So if the guy's not a cash buyer, it's easy for us to get the guy financed
9:23
because Ferrari will finance every car.
9:25
Yeah.
9:26
But on the history side of it, being a dealer, you know, we spend a lot of
9:29
time, or at least I do, I spend quite a bit of time at the factory, as you know.
9:34
It's easy for me to jump in and talk to the right guys or take a
9:37
look into the archive and see, hey, this is one of five cars, 10 cars,
9:42
whatever it may be, 'cause that's what happened in the Bachman collection.
9:45
Mm. That catalog identified everything, and that's what built the value was not
9:50
only is it yellow, and people would guess, hey, it's gotta be less than 20 cars.
9:54
No, it's one of four.
9:55
You know, we would really pinpoint down exactly what it
9:57
was Yeah, you can nail it down.
9:59
Yeah.
9:59
And that was a big part of it.
10:00
Yeah, that's what's great having that type of access- Sure
10:02
to that type of information to be able to verify all that documentation.
10:06
For sure.
10:06
It's great for a buyer too, because they know exactly what they're getting.
10:09
Exactly.
10:09
It's not just hearsay.
10:10
Right.
10:11
Someone saying it, previous owners, "Oh, yeah, it's that." You have it verified?
10:14
Mm-hmm.
10:14
"Oh, no, trust me." E- especially when you're talking about the
10:16
money you're talking about.
10:17
Yeah.
10:17
I mean, you know, you wanna know, right?
10:19
You don't wanna say, "Hey, I have the only one," and then some other
10:22
guy shows up at Pebble Beach with it.
10:24
You know, and, and it's, and it's a big deal.
10:26
One car comes to mind, it's not here now, but it's the owner of this car right here.
10:31
He has an F512 M and it was the first one off the assembly line that wasn't red.
10:36
It's white, and they only made two white ones in left-hand drive,
10:41
and it was the feature car in the previous edition of Cavalino Magazine.
10:45
At the time, you know, we saw the car, I heard about it.
10:48
It was delivered originally in, uh, I believe Amsterdam, and it
10:52
went through Germany, and it made its way over to Japan, and then
10:55
finally back to the US since 1995.
10:58
So it had a little bit of a journey in 30 years.
11:00
But it's amazing the offers that have come to us on that car.
11:04
Uh, again- 2X, 3X from where he purchased the car at.
11:09
Even him, he's still saying, you know, "What do you think I should do?" You know?
11:12
Normally, if you buy a house for X and some guy comes in, "Oh, hey, I'll
11:16
double your money," not everybody wants to move out of the house.
11:18
Yeah.
11:19
They're saying, "Hey, you know, this may be my dream house. I'm not looking to
11:21
leave." And as you know, when you say no, it's everybody starts to chase it then.
11:27
Oh, yeah.
11:28
Well, everything's gotta be for sale.
11:29
Yeah.
11:29
There's gotta be a number.
11:30
So that's what starts to drive the market as well, because not
11:33
everybody's looking to sell.
11:35
There's guys that are looking to collect.
11:36
There's people that are out there that are … There's funds out there.
11:40
There's hedge funds.
11:40
There's people, Wall Street's started to look at it and say, "Hey, there's
11:43
real returns on these cars." And people have made plenty of money,
11:48
including the dealers, including the individuals, including the sellers.
11:51
Everybody's doing well, and it's not that we're in a spike.
11:54
There's a lot of doom and gloom out there, people saying, "Oh, you know, this is g-
11:58
you know, this is what's gonna happen." They have been saying where's the bubble?
12:00
Yeah.
12:00
If you look alone just between ChatGPT, SpaceX, and Anthropic, you're
12:06
talking about well north of a trillion dollars of money that's coming in.
12:11
You look at the people, they're between 24 and 34 years old on the most part.
12:15
Mm-hmm.
12:15
The cars they grew up to are these things.
12:17
Yep.
12:18
You know, these are the poster cars that they grew up to.
12:20
They're bullish on them, and the super cars were the Enzos, the
12:23
LaFerraris, the F40s, the F50s.
12:25
That's the stuff that they want.
12:27
You know, when you hear the numbers, and I've been obviously fortunate enough
12:30
to have clients that are in that exact space and, you know, the amount of
12:34
money of the checks going out to me are just, you know, they're mind-boggling.
12:38
People are getting checks, not 1,000 people, not 2,000.
12:43
Yeah.
12:43
Oh, yeah.
12:44
10,000 people getting checks for $40 million or more.
12:47
Yep.
12:47
I mean, it, it, they're big, big, big, big numbers.
12:49
Yeah.
12:50
So, you know, when you hear that, it's not the end of the world for the guy to say,
12:54
"Hey, let me rip out 10% and buy myself- Yeah … a couple cars." I reward myself.
12:58
I earned this- Exactly … and they get it.
12:59
And God bless them for it.
13:00
Exactly.
13:00
That's fantastic.
13:01
Exactly.
13:01
You know, and not to mention $120
13:04
trillion transfer of wealth that's gonna be coming to whatever it is.
13:07
Yeah.
13:07
There's a lot of money influx into the market, so to speak- Mm-hmm People are
13:12
gonna wanna get that car they had on their post, 'cause they can afford it now.
13:15
Yeah.
13:15
They can get it.
13:15
It's a heat wave, right?
13:16
Yeah.
13:16
It's not, it's not a spike.
13:17
It's a heat wave.
13:18
It's gonna stay hot for a while.
13:20
Look, every time there's a heat wave, even in real life, I mean,
13:23
there's a storm, but it doesn't totally drop down to five degrees.
13:28
You know?
13:28
It'll cool off a little bit.
13:29
Yeah.
13:29
There'll be the ebbs and flows like there always is, but as far as investments,
13:33
as far as artwork and precious stones, a lot of other things have changed.
13:37
You know, you see the auction houses, especially Sotheby's, and
13:40
you see Christie's and the big guys, the watches and what have
13:43
you, their things are still hot.
13:45
But the car market now has entered that space, and when you start seeing
13:49
the powerhouse guys in the world, the Ken Griffins and these other big
13:53
collectors that are out there that are saying, "Hey, you know what?
13:57
I've been collecting art.
13:58
I've been collecting paintings, whatever, sculptures.
14:01
Now I'm gonna go ahead and I'm gonna get into these," 'cause they are art- Yes
14:03
… and they are sculptures in their own way.
14:05
And there's a lifestyle component to this.
14:08
You know, when you get a painting, obviously, or you get a, a
14:10
sculpture, whatever it may be, it's in your home, it's in a room.
14:14
You know, this, there's a lifestyle component.
14:15
If you wanna take it, you wanna take it to a show, you can go ahead and drive it.
14:19
You can take them on cavalcades.
14:20
You can do so many different things.
14:22
There's a whole nother element to it.
14:24
And a lot of the people that I've met, and I'm not talking about the cars
14:28
that are 30, 40, $50 million cars, I'm talking about cars like this, if
14:32
somebody gets into the car, and they know, "I'm gonna get it, and it's
14:36
not going to zero or some low number.
14:39
I'm gonna have the car," even if there's a little bit of exposure
14:42
as far as money- Yeah … they get all the other things to it.
14:45
Get to go to Pebble Beach, cavalcades with Ferrari, different events in Europe.
14:49
And they wanna enjoy life, and that's what people are starting to do.
14:52
So you're starting to see different companies with different events
14:56
getting bigger and bigger and bigger.
14:57
Canosa is one of the ones that comes to mind.
14:59
Yep.
15:00
And they're doing events globally now.
15:02
So it's not just, you know, they had, you know, the Middle East and Abu Dhabi.
15:06
Now they're gonna be bringing one, they're gonna be announcing in
15:08
Asia they're gonna bring an event.
15:10
You know, they have events here in the US.
15:12
They've done, you know, cavalcades.
15:13
They work closely with Ferrari.
15:15
But it's all over the place.
15:17
Pretty soon, you'll start to see markets people never
15:19
thought of going to, Patagonia.
15:22
You know, they say, "Hey, you know, I'm not so much of a hiker." Hey,
15:24
they're gonna do a Ferrari event there.
15:26
Hey, let's go.
15:27
Let's go.
15:27
Yeah.
15:27
You know?
15:28
It's only a question of putting the car in a container or on
15:31
an airplane and shipping it.
15:33
Yeah, it's a ticket, gets you into a lot of- Yeah … cool, cool events.
15:36
Yeah, but it opens, obviously, with purchasing the car.
15:38
Yeah, it opens up a lot of doors.
15:40
Well, then, not just for that vehicle, but for subsequent down the line, too.
15:44
You meet a lot of great interesting people.
15:46
Oh, yeah.
15:46
And just all with the same mindset.
15:47
Absolutely.
15:48
They all have the same thing going on in their heads, which is always
15:51
just fun and exciting to do.
15:53
So let's talk Monterey.
15:55
We're not gonna talk about Deluche.
15:56
That's a whole different animal.
15:57
I'm not even getting into that.
15:58
Let everyone else talk about that.
15:59
But outside of that, what was your, I guess you'd say, most eye-opening that
16:03
was there that went across the block Ferraris that you thought was like, wow,
16:06
that really opened your eyes to say, "Wow, I didn't think they were gonna go
16:09
there," or like, "Nah, that's about what I thought is where everything's going."
16:12
Is there anything that really stood out to you?
16:13
What I started to focus on, you know, I went through the catalogs and I
16:17
was going through and looking at some of the cars and, you know, they send
16:19
you all the catalogs prior to going.
16:22
The cars did the big numbers they did within their estimates, so, you
16:25
know, that's good and pleasing to see.
16:27
I mean, I went to, obviously, RM.
16:29
I looked at the cars that they had.
16:30
I went to Gooding, Mecum, went to Bonhams, I went to Broad Arrow.
16:34
I went to every single one of the auctions.
16:36
What I found is the unique cars, meaning low miles, unique spec- Mm … meaning
16:41
color combination, they're the cars that are gonna bring the money.
16:44
I mean, the provenance on the car obviously always helps.
16:47
Whoever did the restoration, if it is a restored car, that
16:50
obviously adds to the value.
16:52
But certainly you're seeing the old, old car market, it's not going down, but it's,
16:57
it's just kind of level- Leveling off, yeah … and just kind of leveling off.
17:00
It's just running steady.
17:02
And then you're seeing these cars, let's even say from really the '90s
17:08
forward, they're super hot, and if the car's a unique spec, a 355, a
17:13
360, a 550 Maranello- Ooh … if it's in a unique spec and then you start
17:19
to drill down on it and everyone's like, "Ah, I think they probably only
17:22
made a few of them in this color."
17:23
And then, you know, I dig into it and say, "Well, this is the
17:26
only one." Now, what's it worth?
17:28
It's the only one.
17:29
So once you get into what I call it's on one hand, it's less than five or
17:34
less, that's when you're gonna start to see that those are the cars that
17:39
really demand the s- big premiums.
17:40
And those cars, they showed up and they were doing the numbers.
17:44
That they were.
17:44
You know, I was following online, watching those.
17:47
I mean, one side of it, it's great to see because a lot of
17:49
these ve- … hey, they're finally getting what they're worth.
17:52
Mm-hmm.
17:52
It was just interesting to see people's reaction in the room, too,
17:55
for some of these, because some people were just like, "Oh my God."
17:58
But then other people were like, "Yeah, that's should, what
17:59
it should be at now." Right.
18:00
Exactly.
18:01
When you're going to those auctions, you basically went to
18:03
all of them, how do you look at it?
18:05
Are you looking as a buyer?
18:06
Are you looking at just, "Hey, I'm just seeing what the market's doing"?
18:09
I mean, are you kind of doing a little bit, everything is depending
18:11
on what's cr- crossing the block?
18:12
What's your goal at some, when you hit all these auctions?
18:15
If I'm not buying the car, I try to get as close to the front as I can, because
18:19
when you spin around and you look at the crowd, you can obviously get a
18:25
really good view off of the reactions.
18:27
You can hear them, but, you know, there's a lot going on in the auction, right?
18:31
When you look at it from the other side, if you're buying the car, I tend to
18:35
stay super stealthy if I'm on the clock.
18:38
Yeah, you're pretty prominent.
18:39
People know you, and they see you, they're like, "Uh-oh." Yeah.
18:43
Yeah, I kind of, I kind of stay stealthy if I'm buying.
18:46
Yeah, I mean, there's no doubt.
18:47
You know, y- you could see it from both sides, from the buyer side or
18:50
from a dealer side, is what I call it.
18:52
The auction side is the auction side, obviously.
18:54
Their job is to sell the car for the seller, get the most money they can
18:57
for the seller- Mm-hmm … because obviously, that's best for them
19:00
because th- they're in for the fees.
19:02
That's the ultimate goal for them.
19:04
They represent the seller, so they gotta get as much money as they can.
19:08
The flip side to that is, as the buyer, as you know, you're trying
19:11
to buy the car for the best price you can, but it takes two to tango.
19:15
Yep.
19:15
When you start to see it going on and you start to see the price running up, and you
19:19
gotta get a feel for who's in the room.
19:21
So if I'm buying, I'll usually scope the room earlier and see
19:26
who's sitting and who's in the room.
19:28
And then you can kind of get an idea of who is the potential
19:31
competition, but you never know.
19:33
There could be somebody that's a phone buyer, so you just- Yeah … don't know.
19:36
But you can quickly see by the way it's running up and how the auctioneer is
19:39
handling the bids that are coming in.
19:42
If it's starting to run super, super quick, then either you gotta roll up
19:46
your sleeves and be ready to go, or you gotta say, "Okay, I'll go to my number,
19:49
and if it goes higher, it is what it is."
19:52
But at least for the people I know, most of the people got the cars that they
19:56
wanted, and if they didn't, they pushed to their number and maybe then some.
20:00
That drives the market.
20:02
But it was always on, to your point, super low mileage car.
20:05
It wasn't a really rare car.
20:07
Mm-hmm.
20:07
Like, let's use the case of a 550 Maranello.
20:10
They made a bunch of them.
20:10
It wasn't, like, a super rare car, but the ones that did all the money
20:14
were unique spec or super low miles.
20:17
It was one of the two.
20:18
Yeah, there's some ones that sold very, very well.
20:21
Mm-hmm.
20:21
You purchased one of them.
20:22
Yeah.
20:22
A stunning, stunning car.
20:24
Mm-hmm.
20:24
We'll see that in another video, by the way.
20:27
Your word, heatwave.
20:29
Is it still gonna be a heatwave for a while longer?
20:31
Yeah.
20:31
Do you see it tapering off- No … into being tolerable?
20:34
You s- see it's gonna keep increasing and increasing?
20:35
It's gonna go for a while, for sure.
20:37
We saw it before Pebble.
20:38
Even last year it started.
20:40
We saw it starting to build.
20:42
I have a spreadsheet when we were doing the Bachman collection.
20:45
Every 10 days we were doing an update.
20:47
People were calling us.
20:48
You know, once it got announced, "Hey, I'm willing to offer you this for this
20:52
car." You know, I said, "Look, it's part of the auction, and, you know, I'll offer
20:56
you this." So I would just take the notes.
20:58
You know, we have 46 cars in the collection.
20:59
Yeah, you're seeing what, yeah.
21:00
So people were calling us nonstop.
21:02
Mecum was getting the calls as well.
21:03
But there was a lot of people because, you know, it was joint venture
21:07
between Mecum and us on the catalog.
21:10
There was people ringing us and, you know, social media every time they post a video.
21:14
I definitely, definitely, definitely got 12 to 15 calls a month,
21:18
so call it three calls a week.
21:20
Is that common, people trying to snag it- Yeah, they're trying to get it … before
21:23
the, before it crosses the block?
21:24
You know, and say, "Look, I'll offer you this much." And then the numbers
21:27
started getting, like, really big, you know, especially on the real unique
21:30
stuff, the F50, the Enzo, 599 GT0, the SA Aperta, the 458 Speciale Aperta.
21:40
You started to see the numbers start to come in, and then when the catalog
21:44
came out, it started to go crazy because then it was, "Hey, this is the last one
21:49
that was produced for the USA." Wow.
21:51
"This is the last car in the series. This is the last one off the assembly line." On
21:55
some of the 328s, the very last one- Yeah
21:57
produced for the US.
21:59
You know, that 348, 348 did 600,000 plus.
22:02
Yeah.
22:02
And as crazy as that- Yeah … sounded- I couldn't believe that … there
22:06
was one that was in the fours with a bunch of miles in, uh, Pebble Beach
22:10
this- Mm-hmm … this past week.
22:12
Stuff that we saw that we said, "Hey, you'll never see it," or bigger picture,
22:17
the numbers that we saw during COVID.
22:18
COVID made sense, right?
22:20
You're saying, "Okay, well, the factories are all closed. They're
22:23
not producing cars." It wasn't doom and gloom, but it was doom and gloom.
22:26
Yeah.
22:27
You know, the world was coming to an end.
22:29
It was a whole different thing, and cars were doing big, big money globally.
22:34
And we said, "You know what?
22:36
That was a moment in time that's something we're never gonna
22:38
see again." It's happening.
22:41
And even somebody like me who said, "Wow, that's just the monster,
22:45
monster, monster numbers that we're seeing." We come out of that in 2020,
22:49
let's say we were totally out of it by '22, and things started to reset.
22:54
You know, now when you watch it and you look at how the cars are resetting,
22:57
you could see quick identifiers.
22:59
Anything that's numbered, in the Ferrari world at least- Yeah … this car, that
23:03
car, if it's numbered and it's in a unique color combination and it's got
23:08
great miles, it's gonna do the numbers, and it's just continuing to go up.
23:13
The wind is behind these.
23:15
I don't wanna say that the old stuff is a different situation, but there's
23:19
a big gust of wind between these.
23:21
If you look at, let's just say a regular car, even a common car, like a 575
23:27
Maranello, not a manual car, standard 575, and they were all standard as an F1.
23:32
Those cars a year ago, a year and a half ago, they were between 100 and $130,000.
23:39
They've tripled.
23:40
Yeah Now you're looking at them and you're saying, "Okay, these are coming
23:44
up in that $300,000 neighborhood."
23:47
And if it's a really unique color combination, not a red one, not
23:50
a black one, not a silver one, and it's super, super unique,
23:54
it's gonna bring all the money.
23:56
We have three Superamericas here, 575 Superamericas.
24:00
We have a common one, right, a common color one here is this Rosso Corsa one,
24:03
but we have a Nero Daytona one, and we have a Rosso Barchetta one in the back.
24:08
They're rare colors, and they have super low miles, and anything that's
24:12
rare, people are offering you big, big, big money to get those cars,
24:17
'cause that's what they want.
24:18
So color now, what I've seen, it's always been there, but they're more interested
24:23
in the color of the car than they are on the mileage, and it never was like that.
24:27
First they would say, "Hey, tell me about that car. It's a great looking
24:30
car. What's the mileage?" Yeah.
24:32
It's a little bit of a different conversation initially.
24:34
"I love the color. Hey, by the way, what's the mileage?" Yeah.
24:37
That's the first que- … yeah Yeah.
24:39
What the co- … yeah It, it's just the tone, the initial conversation
24:41
has changed, and we've all noticed it.
24:43
Everyone says it.
24:44
And now fast-forward, if it's an atelier or tailor-made car on a
24:49
numbered car, it's a big number.
24:50
Now, like on this car right here, it's an 812 GTS.
24:54
Ah.
24:54
On an 812 GTS, if it's tailor-made or atelier, I've seen cars advertised
25:00
well over a million dollars.
25:02
Yeah.
25:02
And not that long ago, they were $600,000.
25:05
Mm-hmm.
25:06
So they're not numbered.
25:08
They're somewhat rare, but they're still, you know, range cars, production cars.
25:12
But if you have one that's rare, meaning it's a tailor-made car, super
25:17
unique spec, people are focusing in, in on those cars, and they're
25:20
willing to pay all the money for them.
25:21
You see that's changing the buyer demographic somewhat- Somewhat
25:24
the way these things are getting priced?
25:26
I mean, 'cause someone that's striving to buy their first Ferrari, you know,
25:29
used to be had to get a 360, 430.
25:31
Now it's gonna have to drop down to a 308 or 328.
25:33
Now, is that gonna strengthen that market or weaken it because they're like, "Eh,
25:37
I kind of wanted something that was…"
25:38
I say newer, but more they're familiar with?
25:41
I would say strengthen it, because, look, if you're gonna go buy a new 12-cylindery
25:45
and you equip it very well, it definitely starts with the number seven.
25:49
Yes.
25:50
I mean, again, let's say you want to get into a Ferrari and you say, "Hey,
25:54
a 2005 575 Marinello, load it up."
25:57
That car was around 250,000 when I was selling them new.
26:00
They were at 250 for the longest time or even below that.
26:04
They were in the ones as I just mentioned.
26:05
Yeah.
26:06
Now people are willing to spend three, 400,000 depending on the spec, and I
26:12
still see those cars getting stronger because somebody says, "You know what?
26:16
I really like the new car, but, you know, I want an older one." You saw
26:21
it very, very common, as you know, in the Corvette world. There was
26:24
guys that grew up and they said, "Listen, I want a Stingray Corvette.
26:27
I want a C2 or I want a C3." Mm-hmm.
26:30
Anything from '63 to, it really went up to, you know, 1981.
26:34
Anything that was in those big block era cars, and you would see people now
26:39
that just want those cars, and that market has gone way up and obviously way
26:43
down, and they made a ton of those cars.
26:45
Yes.
26:46
Yes, they did.
26:46
I mean, it's not like super low production- No … hundreds of cars.
26:49
So if it happened on cars that they made tens of thousands of cars, now granted,
26:54
certain cars with a Z06 package or whatever- Mm … may be on those, they
26:57
bring all the money, LE-8s, what have you.
27:00
I get it, but for a long time you would see some of those Corvettes bringing
27:05
big, big, big money in comparison to what their original MSRPs were.
27:09
Yeah.
27:09
Well, now you're starting to see it on these cars.
27:12
I don't know.
27:12
I think, I think it's gonna keep going.
27:14
That's, you know, I just- These two, I mean I would have to
27:18
venture to say the TDFs was what?
27:20
Four point something was the high mark- Yeah … in Monterey?
27:24
Yeah, they were in the fours.
27:25
I mean- Yeah, and this was not far behind it.
27:27
It usually was flipped.
27:28
Yeah.
27:28
That's actually surpassed it- Correct … in regards to market value.
27:32
Of course, the- Harder to find, and they made two different versions of this.
27:35
Of the Comp?
27:35
Yeah.
27:36
Oh, the Perta.
27:36
So they made a Comp Perta and they made a, you know- Yeah … a Competizione.
27:39
And the same thing happened, you know, the unique thing that, you know, use it for
27:42
example, they didn't do it on the Pista.
27:44
The Pista, the, you know, they were limited, but they had the
27:46
Pista Coupe and the Pista Spider.
27:48
You see where they're at.
27:49
Yeah.
27:50
I mean, one just sold this week for almost $3 million on a Pista Spider.
27:53
Super unique spec.
27:55
Really, really, really super cool car.
27:58
Only one I've ever seen like that.
27:59
Green with an orange interior.
28:01
I mean, it looks like a University- … of Miami spec, you know?
28:04
Super cool.
28:06
Yeah, I mean, look, a car like that, you know, you're hearing numbers, you know,
28:09
that are what I call in the stratosphere.
28:11
Yeah, that was interesting with that transition 458 to the 488,
28:15
obviously going from NA to the turbo.
28:17
You know, there was a drop there for a while because everyone's like, "No."
28:21
I wouldn't say unloved.
28:22
Mm-hmm.
28:22
But it really wasn't, I wouldn't say desirable either, but people like the car.
28:25
Mm-hmm.
28:26
They were down there.
28:26
It's like you s- could get it for a decent price.
28:28
Oh, yeah.
28:29
But now all, even the 488, F8, everything's, those are even going up
28:33
in regards to what- Look, you c- you can have a red Pista, regular car, 5,000,
28:36
6,000 miles, not super low, not crazy, and let's just say it has no stripe.
28:41
They made so few cars without a stripe at all, just one solid color.
28:46
There's guys who just chase unique specs.
28:49
That's what they want.
28:50
Just want a car that's unique.
28:52
No stripes.
28:53
Most of these had a stripe.
28:55
Yeah.
28:55
Most of these did not.
28:57
But on these cars, you'll see it.
28:59
But if you get one without a stripe on this or without a stripe here, unique
29:03
specs, people will go ahead and grab 'em.
29:06
It's just a question of what's out there.
29:07
The one that we have downstairs doesn't have a stripe, but it's got those really
29:11
cool dream lines on the- Yep … TDF.
29:13
It's just a matter of what's out there, and it's changed a lot.
29:16
Yeah.
29:17
That, remember, these cars, this car was launched in 2015, and then the
29:21
production was '16 and '17 for these.
29:23
10 years.
29:24
Yeah, I was about to say- I, you know, it, it's not like- I was gonna say, it
29:26
hardly seems like years … it seems like, it seems like it's just yesterday.
29:28
Yeah.
29:28
A decade has gone by, and they've built their department so much bigger at the
29:33
factory to do hand-painted shields- Oh … really cool stripes, dream
29:37
lines, different things on the cars.
29:40
It's changed so much that I call them catalog cars.
29:44
So if the car has everything on it, and it's not too busy, and it's
29:48
not gaudy, and it's not, you know, crazy, done, you know, very, very
29:52
classy- Are bringing all the money.
29:54
Think Ferrari was hesitant or reluctant to kind of start going down that
29:58
path, or they embrace it, you feel?
30:00
Because- They embrace it.
30:01
I think initially it was something that was for special customers, but now
30:04
it's such a big part of their business.
30:06
It's massive.
30:07
It's just such a huge part.
30:09
You know, the dealers are putting in these atelier rooms.
30:12
Dealers now are bringing customers constantly to Italy, to New York,
30:16
in our case in the US, to the New York showroom to do these
30:20
atelier and tailor-made sessions.
30:22
It's growing quite a bit, and it started off initially as something not that big.
30:27
It was a very, very small setup that was done in Italy.
30:31
You know, Elena Fontana, she's still at the factory.
30:33
She does the special sales.
30:34
She works there.
30:35
But it was initially she was at what they call the earlier version of atelier,
30:40
which became ateliers there, and now they have tailor-made, and she was part
30:45
of that initial team to start that up.
30:47
And that was back 15 years ago when they really got that thing.
30:51
Mm. They were starting to get it winding up and getting it going.
30:54
It is a massive part of their business.
30:56
I mean, massive.
30:58
When someone goes through the Tailor Made program, obviously
31:00
you gotta be a special customer to be invited to be able to do that.
31:03
No, no, no, no.
31:04
You don't have to be.
31:04
You don't have to be invited.
31:05
No, no.
31:05
You just gotta ask?
31:06
Yeah.
31:06
I mean, if you just say, "Hey, listen, I wanna do a really unique car." You
31:10
have a build spot to do whatever it may be, a, let's say a 12-cylindery.
31:14
And you say, "Listen, right from day one, I wanna do a really unique car.
31:18
I'm in the blue jean business.
31:20
I wanna do a white car with denim interior." Yeah, sure.
31:24
And you can do something really cool.
31:25
Atelier i- is, is different.
31:28
It's more of the common things that you would see.
31:30
Mm. The common leathers.
31:31
But once you get into Tailor Made, you can do whatever you want.
31:34
You know, if you wanna use fabrics from a suit that you have, a Loro Pianos- Yeah
31:39
fabrics, whatever you wanna do.
31:40
Everybody has a different spec.
31:41
Well, I've seen women do it all the time with a nail polish.
31:45
Polish, yeah.
31:45
I wanna do something for my wife.
31:47
You know- Oh … she likes this red.
31:48
It looks, you know, and like I said earlier, there's over 150 shades of red.
31:53
Look, you can commission your own color.
31:55
I've seen that happen pretty often.
31:57
Listen, there's literally thousands of shades.
31:59
I mean, really- Yeah, I mean, yeah … there's just so many total.
32:02
That's just something that if you really say, "Look, this is my company color.
32:05
It's unique." It's always something that was from somewhere else, you know?
32:09
This was a Nassau blue Chevrolet General Motors color of my dad's first Corvette.
32:15
He'll take the color swatch and look, and there's something that's almost identical.
32:19
They can name it, you know, Williams Blue, you know what I'm saying?
32:21
Yeah.
32:23
You can come up with your own blue.
32:25
You can come up with your own- I like the sound of that.
32:26
But, you know, come up with something cool.
32:26
Uh.
32:26
You can do that.
32:27
You can commission your own color.
32:29
It's a while.
32:29
They gotta do all the feasibility testing.
32:31
They gotta do a lot of stuff to do it.
32:32
Mm. They don't just mix it up in a jar and say- Here you go.
32:34
… "Here you go." But, but, uh, yeah, you know, you can do that.
32:38
You can do, there's a bunch of things you can do.
32:40
How do they feel about someone that, you know, that goes through that process,
32:42
and obviously spend the time, get unique, but then three years later, two
32:46
years later, they see the car for sale?
32:48
I mean, it's kinda gotta honest- Yeah, I, I mean, there's
32:50
pros and cons to it, right?
32:51
So the pros are- If the car goes out there and does a big number,
32:57
that helps promote it, right?
32:58
Say, "Hey, look- True. Yeah … this is why you wanna do it." I look
33:01
at it a little bit different.
33:02
It's a little bit different if you're like, let's say, a construction
33:04
guy and you're a home builder.
33:06
You sit with a family, "This is our dream home." Unless they came
33:09
under financial hardship, they just sell the house and they flip it-
33:12
Yeah … for all kinds of money.
33:13
Meanwhile, you remember all the meetings and everything, the customization, "I
33:17
want this, I want that. I want, you know, these different types of crown moldings."
33:21
Yeah.
33:21
And then they just sell the house, right?
33:23
I guess there's part of you that's like, "I- maybe they were just in
33:26
it in for the money, or they got a deal they couldn't refuse." You know,
33:28
in the automobile business, you're not talking about a one-off house.
33:31
You're talking about literally thousands of cars that get made a year.
33:35
Ferrari makes nearly 15,000 cars throughout the whole lineup.
33:39
Call it 25, 30% come to North America, roughing it out.
33:43
You say to yourself, "Okay," then you break it down by model.
33:46
How many are for this, and then how many go to each market?
33:49
So some markets get more cars than others.
33:51
Mm. It's obviously not an equal split.
33:53
And then you say to yourself, "Okay." You talk to the dealer and you say,
33:55
"Look, whatever they come out with next, I wanna do this." And then
33:59
the customer says, "Okay, I'm in.
34:01
I'm in for it." It's good to take them over. I go over almost every month.
34:04
I've taken plenty of people over and they've said, "Look, I'm doing this.
34:08
I wanna build a custom car.
34:09
This is what I wanna do," and they do it, and it's been really cool.
34:13
It's fun to see those projects.
34:14
To answer your question, I don't think that they ever get upset.
34:17
Yeah.
34:17
You know, sometimes they see 'em again, they said, "Hey, how's that car?" They're
34:20
like, "Eh, you know, I traded it in.
34:22
I sold it."
34:23
I think the more important thing is, is that it gets sold through the network
34:27
if they're trying to build their status.
34:29
If a guy takes a car and he says, "Look, I wanna be a top customer,"
34:33
and then he takes the car and he runs it at an auction, I'm talking
34:36
about a new car, not a used car.
34:38
Yeah.
34:39
If you purchase a used car, let's say a 550, and then you sell it again at
34:43
an auction down the road, you didn't buy it new through the dealer- No, no
34:46
and you didn't sell it.
34:47
But I tell everyone, it's good to work with your dealer for a couple reasons.
34:51
One's that Ferrari has their profile and they, everybody has a profile, and
34:55
they monitor everything that you do.
34:57
The more you do within the dealer network, the better you are.
35:00
I mean, it just helps.
35:01
It's an algorithm, and it just, it helps track and show that you're engaged.
35:05
But it's not the end of the world if you don't.
35:08
It's just that when a new car comes out and they say, "Hey, I really
35:11
wanna get on this list. You gotta hook me up," which I hear all the time.
35:15
And they say, "Look, I got 20 cars." And then I look at the profile, and
35:19
I say, "Yeah, you purchased three of them in the dealer network."
35:22
It's not my rules, but that's how you'll be evaluated.
35:25
You know, what did you do within the dealer network?
35:28
You know, you kinda gotta educate the people ahead of time.
35:30
As they're doing things, you know, you keep them informed.
35:33
And the good dealers, the good Ferrari dealers, know how to
35:36
manage their clients really well.
35:38
Mm-hmm.
35:38
They're really good at doing it.
35:40
You would think you'd wanna buy it through the dealer anyways.
35:42
Yeah.
35:42
I mean, just standing behind the car.
35:42
I mean, look at, I, I use the Rolex analogy all the time- Yeah … or a Patek.
35:46
If you're gonna go buy a Patek Philippe, whatever money it is, couple hundred
35:49
grand, I don't know if I'd feel really comfortable buying it online.
35:52
If it was from a dealer, yeah.
35:54
You know, because otherwise it's- Yeah, because they're gonna stand behind it
35:55
… right, you just don't know, you know?
35:56
Wow.
35:57
And I'm not saying, like, you know, on a, on a watch it's a different thing.
36:01
A movement's, I don't wanna say it's easy to switch, especially on some
36:04
type of tourbillon or something, and you know you're not gonna do that.
36:07
Yeah.
36:07
But I'm talking about, like, a regular Submariner, like, Rolex Submariner.
36:10
You see these horror stories on these reality shows that people, they open
36:13
the watch up, oh, it's not- Yeah.
36:14
… a real Rolex movement or something.
36:16
Falls apart in the water.
36:17
The face, the face isn't genuine.
36:18
It's an aftermarket face.
36:19
You know, these are all these different things that they have
36:21
as security features in there.
36:23
When we were out at Pebble Beach, I was flipping through the channels, I saw it.
36:26
You know, they have these diamonds now that are manmade.
36:29
Yep Lab-grown diamonds.
36:30
You know, for the longest time, documentary was about how diamonds,
36:35
they weren't nearly as scarce as they were made out to be.
36:38
They were just controlled by this consortium of people, you
36:42
know, whether it was the Harry Winstons- Names start with a D
36:44
the DeBeers, you know, whoever it was- Yeah … and that diamond's really hard
36:46
to get, and they would set the market.
36:48
And now they have these lab-grown diamonds, which are real diamonds.
36:51
They come with a real GIA certificate.
36:53
Mm-hmm.
36:53
They have everything with them.
36:54
You know, I can't imagine that business doing well now when they have
36:58
another diamond that looks identical to it, and it's a real diamond.
37:01
The watch analogy I was giving you is that's not really a real Rolex,
37:05
so why would you go ahead and buy something online or you don't know?
37:08
And whenever they bring it to an authorized dealer,
37:11
that's when they find out.
37:12
It's different with these in the sense the only time I've seen it is when the
37:16
car gets inspected, then they find out.
37:18
They're like, "Oh, it was painted? Yeah, it was repainted." They told
37:21
me that that was factory paint.
37:23
You know, we're a little bit different.
37:24
When a car comes in, we record the paint readings on a car.
37:27
We use the same meters that we use when we inspect them as when we take them in.
37:31
So when we look at it, we say, "Okay, here's where your paint
37:33
meter readings were from day one."
37:35
Okay, and here's the car here three years later, and it was sold
37:39
to this guy and that guy, and, you know, here it is back to us.
37:42
Here's the paint readings.
37:43
Now we know that there's a delta here- Yeah … so this was definitely painted.
37:46
Okay, so what's it worth?
37:48
And it's, like I said, it's no different than having the watch or a Picasso.
37:52
If you had a Picasso and my nephew was there firing his darts one day- … and
37:57
he's putting a couple holes in it, and, you know, we patch it up, and we make it
38:02
look perfect, it may, to the naked eye, to a, an amateur, say, "Hey, it looks
38:05
perfect. It looks good." That looks, yeah.
38:07
But an expert looks at it and goes, "Hey, listen, a perfect one's worth,"
38:10
whatever the number is, 10 million.
38:12
"This one's got a story.
38:13
It's been repaired.
38:14
It looks perfect, but it's got a story.
38:16
It's definitely not worth more.
38:18
It's worth less.
38:19
It's definitely not worth the 10 million.
38:20
If it's got a story, it's worth less." And that's what I tell everybody.
38:24
If you're gonna buy and invest in one of these cars, make sure you get
38:28
a proper inspection done on the car.
38:30
You know, that's a lot of things with people buying cars online, they don't
38:34
know, and I've seen it quite a bit online with a lot of the online platforms.
38:38
The cars come, and they're astonished, and there's all types of disclaimers on there.
38:42
It's a used car, you know?
38:43
Bring a trailer.
38:44
All those ones, I like, well, and like Carvana, too, to the extent is I can't
38:49
imagine buying a car, spending, even buying a Honda or buying a Ferrari, you're
38:54
getting into that price bracket- Mm-hmm
38:56
not going physically, seeing the car- Yeah … touching the car,
39:00
doing paint readings- Yep … on it.
39:02
Hearing it run.
39:03
Drive it if you, they let you.
39:04
That baffles me that people will spend that kind of money.
39:06
It doesn't matter, and even if it's from another dealer, stuff
39:08
like, I mean, what's written there, people will say whatever you need
39:11
to hear to get you to buy that car.
39:13
Mm-hmm.
39:14
You know?
39:14
And again, that kind of goes back to buying from an authorized
39:17
dealer, because- And most of the write-ups are AI generated.
39:19
Yeah.
39:20
You know, when you see them, they all sound the same.
39:22
But, you know, you said it perfectly.
39:24
Buying a car, like even if it's a Honda, outside of buying your house, it's
39:27
probably the second largest- Mm-hmm
39:29
purchase you're gonna make on a normal car.
39:31
When you get into this world, again, this isn't a Honda or a Toyota or
39:35
even a, you know, any American product car- Mm-hmm … Ford, a GM product.
39:38
Like I said, that's a need.
39:40
I need to get a new car.
39:41
My wife's gotta take the kids to school.
39:43
We gotta go food shopping.
39:44
I gotta get to work.
39:45
She's gotta get to work.
39:46
That's a need.
39:46
This is a want.
39:47
Yes.
39:47
You're selling on emotion I get it that they're scarce, and I get it that
39:52
they're hard to come by on certain ones.
39:54
But I always tell everybody, "If you find the car that you like, go
39:57
ahead, get a deposit. Make sure it's obviously refundable, pending a PPI, a
40:01
pre-purchase inspection, and get it done."
40:04
Get the car inspected by an authorized dealer, somebody who knows what they're
40:08
doing, because I can tell you now, I've seen more horror stories than you
40:14
can imagine in the last five years.
40:16
There's so much going on on social media and so much going on on
40:19
the internet and these online platforms that they buy the car.
40:23
Nobody told me that this car was painted or this fender was replaced or this car
40:28
was in… You know, people run a CARFAX.
40:30
They say, "Hey, the CARFAX is clean." That's not always accurate, too.
40:33
It doesn't mean anything.
40:34
Yeah.
40:34
If you buy a car, especially if you buy a car that's a European car that was
40:38
imported more than 25 years old- Mm-hmm
40:40
you know, they don't have CARFAX.
40:41
There's no record, yeah.
40:42
So, you know, the car comes in, and they look, and they're like, "You're kidding
40:45
me." I said, "No, I'm not kidding you.
40:47
Where'd you buy the car?" And it's always one of the things I just discussed.
40:51
Spending that kind of money on that car, why would you not spend
40:53
2,500 bucks, five grand- Yeah
40:55
to, to, on the car to do it?
40:57
Yeah.
40:57
Absolutely.
40:57
Okay, you're not getting it back as done, but would you rather spend the
41:00
five grand, or are you gonna spend half a million dollars and find out it was
41:03
in a wreck or it's been- Yeah … you know, something that wasn't disclosed?
41:06
Yeah.
41:06
What would you feel more comfortable doing?
41:08
And I've seen some guys even make it as part of terms of the sale with the
41:11
person they're gonna do it with and say, "Hey, listen, I'm gonna do this.
41:14
I just wanna send down my guy.
41:16
If it doesn't check out, it's on me.
41:18
I'm making the investment to do it.
41:19
I'll eat it." Yeah.
41:20
"But if it does check out, let's work it out in the price."
41:24
And the guy would say, "Look, I'm gonna knock off 5,000 bucks off a deal." That's
41:27
like a, that's almost like a given.
41:29
Yeah.
41:29
If, if they really wanna sell the car, you gotta do your due diligence.
41:33
It's usually, a lot of times, if it's the right car, it's a net zero, unless
41:37
the guy's hammering the seller down.
41:39
You know, and they're down, but I say they're below the surface, you know?
41:43
Yeah.
41:43
They're really hammering it out.
41:44
But yeah, you know, just work it out.
41:45
Now, you made a statement about European cars 'cause obviously the European market
41:49
compared to the American market, right now especially, is completely different.
41:52
Completely different.
41:53
I mean, do you see the European market catching up to where the US market's at?
41:56
You would think it would, right?
41:58
And look, I've always said I'm a bigger fan of the European cars than the US cars.
42:01
And if the car's 25 years or older, you just pretty much bring it in.
42:05
If it's less than 25 years old, it's a challenge.
42:08
It's not easy to bring in.
42:09
You may have to get the car federalized.
42:11
Some guys go in on show and display.
42:14
Some guys kind of wait the clock out, and they wait if
42:16
they're close to the 25 years.
42:18
But there's a bunch of different ways that you can do it.
42:21
The European market's really unique.
42:23
And the further that you go, and if you get into the Middle East, you
42:27
know, you go to a place like Abu Dhabi- Yeah … I mean, you see what's
42:29
going on in the Middle East right now.
42:31
You know, there's a war going on over there.
42:33
It's kind of settled down a bit, but you never know.
42:36
It could start up tonight.
42:38
So you're looking at cars like these doing- Substantially less than what
42:43
they're doing here, but you can't buy those cars and just bring them in.
42:47
No.
42:47
Yeah.
42:47
There's no way to do it.
42:48
Yeah.
42:49
You know, if you look at an Enzo, an Enzo's a really good car to use
42:52
Enzos were produced between 2002 to
42:57
2004, but there was some late model ones that were produced
43:00
as late as 2005, '6, and '7.
43:02
Oh, really?
43:02
Yes.
43:03
There was Enzos that were built very, very, very, very late.
43:06
When you say that to somebody, you got to check the production date because if
43:09
it's a built in '02, an early, early car, next year, 2027- Yeah, it's good to go
43:14
you can bring that car in.
43:15
But if the car was built in late '04, even, you know, some cars into
43:19
'05, okay, now what are you gonna do?
43:22
25 years, you're out to 29 or 30 on those cars.
43:25
Yeah, you're parking a lot of money.
43:26
So, you're parking a lot of money, and you can't do it.
43:28
But there's some guys that are like that.
43:30
They're like, "Look, I'm s- just strictly in it for the, the collectability part of
43:33
it, and I'm just gonna go ahead and I'm gonna let the car sit." And I get that.
43:37
If that's the deal, car's got to sit in a bonded warehouse, see it in five years.
43:41
Yep.
43:41
You know, that's the deal.
43:43
But everybody's different.
43:44
So, you know, there's a little bit of a n- you know, a interview
43:47
process when you first meet somebody.
43:49
Like, what are your goals?
43:50
Guys are always so quick to, like, just get the guy in the car.
43:53
It always comes back to bite you.
43:55
Oh, yeah.
43:55
You got to sit down, and you got to sit and talk to them.
43:57
I like to talk, as you can tell.
43:59
Well, you want the people to come back to you.
44:00
Yeah.
44:01
That's the one thing, too, is, is building that trust- Yeah
44:03
with that client, that customer, because they're buying from you.
44:07
No, absolutely.
44:07
That's the thing, and if you steer them wrong- Something goes
44:10
wrong, they're coming to me.
44:10
Yeah, and I always go to that adage, that person tells two, two
44:13
tells four, it goes down the line.
44:14
Yeah.
44:14
And it's like that just … You killed any business down the road, not only with
44:18
him, but whoever he knows- Oh, absolutely
44:19
he's gonna tell.
44:20
Absolutely.
44:20
You know?
44:21
And that's always baffling.
44:21
And look, when something goes sideways, you got to do the right thing.
44:24
Sometimes it's painful, but you're like, "Okay, listen, this didn't
44:27
work out as we originally agreed to." Got to take it on the chin.
44:30
We got to do the right thing, whether that means give him his
44:32
money back, take the car back- Yeah
44:33
compensate him some way.
44:35
Got to do the right thing.
44:36
And the guys that are like that are still around doing it.
44:39
The guys who aren't … And, you know, the Internet's deadly.
44:42
The Internet'll will expose you very, very quickly- Yes, very, yeah … if you're not
44:48
a, what I call … If you're a bad actor.
44:50
Yeah, it's gonna find you.
44:51
Yeah, it's gonna find you.
44:53
So, I tell everyone, "Look, just go out there, do your thing, represent
44:58
the car the proper way, have your stats, if they're not, in order."
45:02
I was just on the phone with one of the biggest guys on Instagram.
45:06
He's got an unbelievable page.
45:08
He talks to me all the time.
45:09
He calls me up.
45:10
He's an independent, and he says, "Hey, Chris, give me some stats on this car.
45:14
I just picked it up." And it's, you know, an older car, a 328, a 355, a 360.
45:20
How many were produced in this one?
45:23
And I looked at, I said, "It's the only one." He goes, "You're kidding me."
45:25
I said, "No, the only one." He said, "Wow." He goes, "That changes a lot."
45:29
I said, "Sure it does." Yeah, it does.
45:30
But it's good because I want to see him do well.
45:33
He helps drive the market.
45:34
Yeah.
45:35
You know?
45:35
So, the more people that get aligned and … It's good for everyone when it happens.
45:39
But when you look at, you know, certain sales, and I know there's been a
45:43
lot of talk online about some of the sales on some of the online platforms.
45:47
You know, we talked about it earlier.
45:49
That aren't real, they're artificial.
45:51
That's unfortunate, and I know that for sure it is accurate
45:56
that these things have happened.
45:57
I've seen it in black and white.
45:59
People have shown me things or shared the story with me.
46:02
It's not a made up, it's not speculation.
46:05
Why does that happen?
46:06
But then you'll see a case in point at Mecum's Indianapolis
46:10
sale, he had that titanium Enzo.
46:13
Yes.
46:13
What, about 37, 3,800 miles on it.
46:16
Just didn't have a good result, because that car definitely should have did more,
46:20
just based on the results that we see.
46:22
That was May, and now you're looking at what happened in Pebble Beach.
46:25
If you look at those numbers, if that same exact car ran at Pebble Beach,
46:30
it would have did millions more.
46:32
Not a million, millions.
46:34
Yeah.
46:34
Multiple.
46:35
Multiple.
46:36
A lot of it's timing, too.
46:37
It's not, it's the same seller, it's the same auction house.
46:41
Everything is the same.
46:42
It's timing So that's another big thing.
46:45
You know, that's the thing I love about Kissimmee.
46:47
It's the kickoff of the year.
46:48
It's like, you know, the same thing in NASCAR.
46:50
Their biggest race is their first race- Daytona … of the year.
46:53
The Daytona- Mm-hmm … 500's their first one.
46:55
Mecum's biggest auction is that, and I've loved going, and traditionally
46:59
for many, many, many years, I live right there in Florida.
47:02
I work here in Nashville, but I, I live in, uh, Windermere, Florida, which is
47:06
literally 15 minutes away from- Nice.
47:08
Yeah … Kissimmee.
47:09
I went every year.
47:10
As time went on, and Dana has quite the Ferrari collection, as you know, and
47:15
then he started to move some collections with Rick Workman's collection, some
47:19
of the cars from his collection.
47:20
There was other cars that he was moving.
47:22
And as time went on, it started to see some of the cars that he was moving.
47:26
That's how the Bachman collection got to Mecum, because he moved
47:30
all of their American cars first.
47:33
All the Corvettes- Mm … all the American cars, he moved the year before.
47:37
It was natural that they were gonna give him a look.
47:40
His business was growing, and we knew them from here, 'cause they
47:43
were from Tennessee, obviously.
47:45
And, uh, we serviced some of the vehicles in the collection,
47:48
so we were familiar with them.
47:49
I was familiar with the Bachman family.
47:51
I knew them for many, many, many years.
47:53
It worked out great, and it was the kickoff of the year, but that's
47:57
really run it full speed, and everybody's been kind of chasing a
48:01
lot of those numbers, especially- Yeah
48:03
the Enzo, right?
48:03
The Enzo- Yep.
48:03
Oh, yeah … the Enzo was a monster number, and nobody's come close to it.
48:08
There was one, the one at Broad Arrow, and it was the same actual
48:11
buyer that bought the one at Kissimmee that purchased that car.
48:15
Everybody's chasing that.
48:16
That's the number, right?
48:17
Yeah.
48:18
We all wanna go for that, and I get it, but you'll see cars full
48:21
circle now with the conversation.
48:23
You'll see an Enzo that comes in, and if it's federalized, this is my
48:27
opinion, just my opinion, I don't think a federalized car is worth
48:32
as much as one that's unmolested.
48:34
So it goes- Yeah … back to the painting story with the darts.
48:38
It's got a story.
48:39
Anytime something has a story, I'm not a fan of it.
48:42
That's just me.
48:43
Now, a lot of the GTOs were all federalized that were here in the US.
48:47
The very first thing that I do is unfederalize the car.
48:51
It's from 1985, so it's 40 years old, plus 40 years.
48:55
I unfederalize the car.
48:56
I take everything that they put on that car out of it.
48:58
I put it back to original.
49:00
That's how you should want a car, as original.
49:02
Yeah, it was left to factory.
49:03
Yep.
49:03
That's exactly how it should be.
49:04
That's why when people say it's an Enzo that was federalized, I say it hurts it.
49:10
I've had people agree with me and I've had people disagree with me, but no
49:14
one disagrees with it has a story, and a story doesn't usually help it.
49:18
No, it does not.
49:19
I've never seen a story help it.
49:21
Just my own two cents, but that's the way it is.
49:24
All right, we're gonna wrap this up with one last question to you.
49:26
Shoot.
49:27
What would you buy?
49:28
You know, it'd be something crazy, but what's Chris Miller gonna say?
49:31
You know, I love this car, but if- Any car?
49:32
I mean, it's Ferrari, hey, if it is, but if it's something else, I mean, what
49:35
would you go out to get to keep and to enjoy, but think, "Okay, you know what?
49:39
I'm also buying this probably 'cause it's going to appreciate." But what's
49:43
your- I gotta answer this two ways.
49:44
It's tough.
49:45
It's like, "What's your favorite kind of food?" Yeah.
49:47
I'm gonna break it down, what car would I buy from each decade?
49:51
How's that sound?
49:51
There we go.
49:52
That works.
49:52
Okay.
49:53
So from the '50s, hands down, a PF Cabriolet Series 1.
49:58
Okay From the '60s, this is tough.
50:01
It's between a 250 short wheel base and a 275 GTB alloy Alloy.
50:07
Yeah, I knew that was coming.
50:09
A four cam, though.
50:10
Yeah 'Cause they only made 16.
50:12
Uh, the '70s, for sure, a Daytona Spyder or a 365 GT4 BB.
50:20
Uh, the '80s, it's a no-brainer.
50:23
It's the GTO and the F40.
50:25
Mm-hmm.
50:26
Uh, the '90s, for sure an F50.
50:29
I mean, the other car that would be in the '90s, too, honestly, would
50:32
be an F512 M. I love that car.
50:34
Yeah, it's a great car.
50:35
I'd love those, too.
50:35
But, uh, love it.
50:37
But probably a 550 WSR, which we have one here.
50:42
Oh.
50:42
Oh, you do?
50:42
Yeah, we have a- Ooh … world speed record here.
50:44
Oh, wow.
50:45
So they only made 33 of those.
50:47
We have one here.
50:48
From the 2000s, for sure, a Challenge Stradale, probably a
50:53
Scuderia, but you have to throw the Enzo in there as well, right?
50:55
Yeah.
50:56
You can't, you can't, you know, skip over the Enzo, right?
50:58
No.
50:59
In the teens, you got a bunch.
51:01
You got the LaFerrari, you have 458 Speciale.
51:02
Mm-hmm.
51:05
And 2019, at the end, you know, you had the Pistas, right?
51:08
So I love the Pista.
51:10
I think that's another great car.
51:11
And now, you know, you got the TDF in there as well.
51:14
Going forward, 2020s- Wow … you know, you gotta put the Competizione,
51:18
the Competizione Aperta.
51:20
But the common thing I'm saying on every car, they're either limited
51:23
production or they're numbered.
51:25
I mean, even when you go back to, like, a 365 GT4 BB or a Daytona Spyder,
51:29
122 Daytona Spyders, 387 365 GT4 BBs.
51:35
Everything I'm saying is limited, limited production, so it's all in the numbers.
51:39
If you said, "Chris, pick one car as a daily driver right now. You're gonna
51:44
use it every single day, radio, AC." I'd go with a 550 Maranello, 'cause it's a
51:50
real true GT front engine V12 Ferrari.
51:53
Mm-hmm.
51:54
'Cause for the longest time, up to the 365 Boxer, they weren't-
51:57
Yeah … m- the engine wasn't in the back, it was up front.
52:00
For me, I love that car.
52:02
We bought a real special one, obviously- Yes … that we were
52:05
out there, and I chased it, and I'm still chasing a few other ones.
52:08
So for me, I think that that's a great car.
52:12
The 575 is great as well, but it's such a limited amount of cars that
52:17
they made in a manual gearbox.
52:18
The car was designed as paddle shift car.
52:21
The 599s, as you know, they made, you know, a limited production of those.
52:25
They made 31 for North America.
52:27
A lot of people think that's the world count.
52:29
It's 31 for North America, 29 for the US, and two for Canada.
52:33
About 63 or 64, I gotta look again, for the world total.
52:39
That is an awesome car.
52:40
But- It has a 550, 575 gearbox 5, 575.
52:44
Yeah A lot of people don't know that, in the manual, not in the paddle
52:48
cars, but they had to go ahead and put a different gearbox in that car.
52:51
So that's why I like it so much.
52:53
I just think it all starts with the 550.
52:55
Look, in today's terms it's, you know, just under 500 horsepower or in the 500
53:00
range, you know, you're right there.
53:01
It's super cool car.
53:03
It's not a beast, you know?
53:04
No, you can drive it But it's just a cool car It's not gonna kill you You
53:07
get in it, as long as it's firing, you know, ice chips out of the vents On
53:12
a hot day, you got your radio going.
53:12
You know, the real radio, the real sound is obviously the exhaust on the car.
53:16
Yeah.
53:17
I love them, you know?
53:18
I always tell people on that car, and like I said, I'm not
53:21
a big fan of aftermarket stuff.
53:23
I don't consider mufflers really aftermarket.
53:25
Ferrari evolved that quite a bit, you know, with the Manettino- Mm-hmm
53:29
where you can change the sound, but on the earlier cars you couldn't.
53:32
If you get a car and you put a set of tubies on it and you just go out
53:35
and cruise, that car is awesome.
53:37
Yes, it is.
53:38
I agree.
53:38
And I've, I've had them as demos over the years, going back 20 years ago.
53:42
I was driving them home from work, and I just used to get in the car and
53:46
put a smile on my face and just kind of cruise up the Garden State Parkway
53:49
in New Jersey, and I'd have fun.
53:51
And I loved them.
53:52
I really did.
53:53
I mean, I really, really, really loved that car.
53:54
It's a nice way to end your day.
53:55
Yeah, it is, right?
53:57
You just cruise, right?
53:58
But yeah, that's it.
53:59
But we'll, you know, we got some cool stuff to show.
54:01
We got cool Maranellos here, bunch of TDFs, couple F50s, couple GTOs, F40s.
54:07
I'm focused on it.
54:08
The store's focused on it.
54:10
We're one of the dealers that are out there.
54:11
There's a couple others, but we're definitely one of the ones that for sure
54:15
are super in tune with it, and I don't think there is another dealer, I know for
54:19
sure not in North America on this side of the globe, that is focused as much on what
54:25
we're doing at the factory and overseas.
54:28
There's some dealers in Europe that do the same as us, but I don't think
54:31
there's anyone doing it more than us I know, matter of fact, I know there's-
54:34
No, I would agree with you on that.
54:35
Yeah.
54:35
I mean, that's what's very unique and what's fantastic
54:37
about this dealership itself.
54:39
What it's doing all around is just- Mm-hmm
54:41
incredible.
54:42
Like, I made the statement before, like, when we first came in here yesterday
54:44
and you showed us around, I- it was eye-opening, 'cause you just don't
54:47
see this at any other dealership.
54:48
Yeah.
54:48
And then your involvement, what you do, getting out there, I
54:51
mean, it's, it's very awesome to see that you guys are so active.
54:54
Yeah.
54:54
You know, and, and it's great for the customers too that come here, because
54:57
they know that they are going to be taken care of, and they're going to be getting
55:02
what, the service they should be getting.
55:04
Yeah, it's a big- You know?
55:05
… big thing.
55:05
And, you know, look, you always gotta throw a plug for your team, right?
55:08
Yeah.
55:08
So we got a great team here.
55:10
They do an amazing job.
55:11
Tom has a great team.
55:12
He runs the store.
55:13
I kind of, you know, I got the VP role, so I'm kind of out and about.
55:16
But- Mm-hmm … you know, we work together as an amazing team.
55:20
You know, and the, and the biggest credit I always say is everybody
55:23
is always worrying about CSI and reviews and all these different
55:28
things that you gauge online.
55:30
Our Google reviews, we got close to 700 of them, and we're still a 5.0.
55:36
So- That's impressive.
55:36
That's good.
55:36
Yeah.
55:37
So we take everyone that comes in here, we do tours every single day.
55:41
We don't let anybody just kind of walk around and ignore them.
55:44
Everybody that comes in, we treat as a potential buyer.
55:47
I don't care if the guy pulls up and, wait, what, what's the name
55:50
of the race that you guys do?
55:51
What's- The 24 Hours of Lemons.
55:53
Yeah.
55:53
So I don't care if he comes up with one of the 24 Hours of Lemons cars.
55:57
You know, we treat everybody as if it's, like, your mom or dad.
55:59
Now, unless you hate your mom or dad- … it should be pretty easy
56:03
to, uh- Yeah … to give them a tour.
56:05
Yeah.
56:05
So we try to say, "Hey, listen, you never know."
56:08
And the truth is, we've given tours to people, and this is Tennessee,
56:12
pickup truck, cowboy boots- Yeah, you never know … you just don't know.
56:15
They come back later in the day, cleaned up with the missus.
56:19
You're like, "Wait a second, this is the guy- "Is that you?" … that
56:20
was here earlier." Yeah.
56:21
And he's like, "Yeah, I was on my way home from the farm," or whatever.
56:24
"Yeah, I'll take two cars. I want one, and she wants one." It's happened.
56:27
Tennessee's a little bit of a unique town, so we treat everybody
56:30
exactly the same, and you see it a lot with the entertainers.
56:33
We have plenty of, you know, people in that industry, country
56:36
music stars that come in here.
56:37
You know, again, they're regular people, they just got a gift of beautiful voice.
56:40
Yes.
56:41
But they're regular people, and they come in and, you know, we give them the tour.
56:45
We get the athletes, obviously, because of our involvement with the Predators,
56:49
the hockey team, Coach Saban, obviously, with college football and the NFL.
56:54
You know, and then all the other people that we have with the
56:56
connections of the ownership here.
56:58
So it's been a fun ride and, and, and, and the journey is gonna continue.
57:02
And like we said, the wind is behind a lot of the cars.
57:05
It's gonna be a unique ride.
57:07
It really is gonna be fun.
57:08
It's fun to be part of the journey.
57:09
That's awesome.
57:10
So that's it, guys.
57:11
We appreciate you watching.
57:12
Remember, hit that like and subscribe.
57:14
And as you heard it, we're in a heat wave, and it's gonna keep
57:17
getting hotter, so keep watching.
57:19
Appreciate it, everyone.
57:20
Take care.
57:26
For everything from Ferrari and Porsche, Lamborghini and Koenigsegg,
57:29
visit exoticcarmarketplace.com.
57:32
If you're into anything with wheels and a motor, log on to the Motoring
57:35
Podcast Network and check out our family of podcasts at motoringpodcast.net.
57:40
This is the place to find your favorite new show.
57:44
Next up, a shout-out to David Beattie and his team at Slot Mods, who custom
57:48
build some of the coolest slot car tracks in the world at slotmods.com.
57:52
Let your imagination run wild.
57:54
And finally, Grand Touring Motorsports, covering all aspects of auto
57:59
racing and motorsports history.
58:01
Check out their e-zine at gtmotorsports.org.
58:04
All the links for our sponsors are in the description.
58:08
This episode has been brought to you by Grand Touring Motorsports as part
58:11
of our Motoring Podcast Network.
58:13
For more episodes like this, tune in each week for more exciting and educational
58:17
content from organizations like the Exotic Car Marketplace, The Motoring
58:20
Historian, Brake Fix, and many others.
58:23
If you'd like to support Grand Touring Motorsports and the Motoring
58:26
Podcast Network, sign up for one of our many sponsorship tiers at
58:29
www.patreon.com/gtmotorsports.
58:34
Please note that the content, opinions, and materials presented and
58:37
expressed in this episode are those of its creator, and this episode has
58:40
been published with their consent.
58:42
If you have any inquiries about this program, please contact the creators
58:46
of this episode via email or social media as mentioned in the episode.