The Frank Knight Index Q2 2017 report shows that Ferrari is dominating the classic car market claiming more than $5million+ auction results than all the other car makes put together.
The same report also shows that over the past 10 years the value of luxury cars has increased by 362%. In comparison, wine has increased 231%, art 113% and stamps 103%.
While the luxury car market slowed slightly in 2017, a number of cars performed well at auction. A LaFerrari Aperta was auctioned off for around $10million for charity at RM Sotheby’s Ferrari-only sale in September, an Aston Martin DBR1, once raced by the legendary Stirling Moss, was sold by RM for over $22.5 million at its Monterey sale and a McLaren F1 sold for $A24 million.
World's most expensive car to be auctioned off
The world’s most expensive car to be sold at auction was a 1962 Ferrari 250 GTO and went for a whopping $A49 million at auction in 2014. With a relatively small production run of 36 cars, the Ferrari 250 GTO has a revered position in collector’s circles.
While we have no Ferrari 250 GTO, we do have a number of luxury cars up for auction Monday 19 February, 2017. View them here.