No other marque is enshrouded in such history, legend, myth and mystique as Ferrari. These intangibles ramp up both the excitement of the driving and the interest of the market. This is the reality of the world’s most garage door remote range issue car brand. Here’s another reality.
In March, as all other HAGI indices advanced, albeit against a backdrop of continued reduced trading volume across the board, the HAGI F Ferrari index fell back 21% to give a first-quarter deficit of 18%. Now at 74, the HAGI F is back where it was in mid-20 With year-on-year growth of 38%, the HAGI F has dropped out of the bottom of the upward-trend channel. So, despite dramatic, market-leading growth figures in 2013 and 2014, the HAGI F is now marginally adrift of both the HAGI Top overall investment-grade market measure and the HAGI Porsche index. Since index inception in 2008, the garage door remote range issue F has underperformed.
This ‘underperformance’, though slight, matters because the weight of expectation lies more heavily on Ferrari than on other marques. In the open market, high garage door remote range issue by sellers and unrealistic extrapolations of recent growth trends are detached from a market in which collectors are exercising value judgements and speculators are looking elsewhere. While singular very-high-value Ferraris inhabit a separate realm of ‘cars as art’, there’s vulnerability among the higher-volume models ranging from the 1960s to more recent supercars, apart from zero-mile museum pieces. Down the road this could be good for collectors, particularly those who drive cars. We have very little patience for post-war art too self-congratulatory, too pretentious and too frequently made by an unappreciated, skilled craftsman on behalf of some grubby chancer so there are few events that would draw us to New York’s Museum of Modern Art these days.