Investment grade ferraris, Fast cars with even faster returns
Investing in Ferraris can prove genuinely profitable. Well-chosen models increase in value faster than any other car, and demand for them greatly outstrips supply at international classic car auctions.
Classic cars are exempt from capital gains tax when they are inherited or sold on. As their lifespan is generally considered to be fifty years or less, they count as "wasting assets"; the same applies to guns and antiques, but you'll need a certificate to own a gun and a grandfather clock is boring.
Ferraris are the polar opposite of boring, so the team at money.co.uk had fun examining the ten best models based on their ROI...
1961 250GTO
- Cost new: £6,000 ($9,800)
- Cost now: £15m ($24.5m)
Return on Investment: 249,900%
In 1961, 39 lucky people drove home a Ferrari 250GTO. They each paid £6,000 ($9,800) for their elaborately hewn piece of engineering. Some of them (in fact, most of them) were crashed over the years; those that remain fetch up to £15m ($24.5m) in private sale. That's a 2,500x increase in value, making the Ferrari 250GT a particularly good investment. Broadcaster and hardcore Ferrari fan Chris Evans wailed that he'd "probably never be able to afford one" in 2008, before buying a 1963 model at auction in 2010 for a record-breaking £12m ($19.6m).
1952 212 Inter
- Cost new: £6,700 ($11,000)
- Cost now: £318,000 ($520,000)
Return on Investment: 4,646%
At about 140hp and an optimistic top speed of 120mph, nearly any car on the market today will outperform the 212 Inter. Judge it on its ability to turn heads, however, and nothing really compares. Its sweeping curves are inherited from Ferrari's racing bloodline, and with a bored-out V12 under the enormous bonnet, it's no surprise that the 212 Inter sells today for nearly 50 times its original price.
1968 Daytona
- Cost new: £9,927 ($16,237)
- Cost now: £200,000 ($327,000)
Return on Investment: 4,286%
Officially known as the Ferrari 365 GTB/4, the Ferrari Daytona is on everybody's list of beautiful cars, rubbing shoulders with the E-type, Bugatti's Type 57 and the DB9. Given its stunning looks and great performance, it's little wonder the Daytona frequently appears on Best Ferraris of All Time lists. It was never cheap but if you're lucky enough to own one, you'll be pleased to know the price just keeps rising, which is precisely why it features here.
1965 275 GTS (Right Hand Drive)
- Cost new: £5,699 ($9,321)
- Cost now: £250,000 ($409,000)
Return on Investment: 1,914%
Of the two hundred which were made manufactured, only fourteen were built in right hand drive. One of these wonderful fourteen will fetch between £200,000 and £250,000 ($327,000 and $409,000) at auction. The car itself isn't the fastest machine on four wheels any longer - you can match its 260bhp with a diesel Skoda estate and its 0-60 time is slightly slower than that of the electric Nissan Leaf - but you still feel like you're in a racing car.
1963 250 GTE 2+2
- Cost new: £6,700 ($11,000)
- Cost now: £104,000 ($170,000)
Return on Investment: 1,452%
The 250 was in production for over a decade, from 1953 to 1964, in a variety of guises and body styles. The GTE 2+2 was one of the few Ferraris which were ever built in a four-seat format (around a thousand), which means there's enough room for two children or very small, familiar adults in the back. With 237 horsepower you can just about compete with modern family car's performance but you'll be much happier in one of these - especially as its fetches £104,000 ($170,000) at classic car auctions.
1971 365 GTC/4
- Cost new: £16,500 ($27,000)
- Cost now: £107,000 ($175,000)
Return on Investment: 548%
The Daytona's direct relative, this cramped four-seater runs on the same chassis and suspension as its big brother, albeit with a less powerful engine. Five hundred were produced and were sold at the startling sum of £16,500 ($27,000) back in 1971. These days, their prices can reach almost ten times that and while they aren't considered a ‘proper' Daytona, the good looks clearly run in the family and their rarity drives desirability.
1966 365
- Cost new: £11,600 ($18,900)
- Cost now: £30,600 ($50,000)
Return on Investment: 163%
Produced from 1966 to 1970, the Ferrari 365 was the father of the legendary Daytona. Although it doesn't command the same money as its successor, anybody who's lucky enough to own a 365 will probably be content with a mere £18,300 ($30,000) profit if they decide to sell. However, possession of a 1966 Carolina model can net the owner up to £490,000 ($800,000) depending on condition as only 14 were ever produced.
2002 Enzo
- Cost new: £450,000 ($736,000)
- Cost now: £1m ($1.6m)
Return on Investment: 82%
A car so good it was named after the company's founder. There were only 400 Enzo Ferraris ever made, excluding one which was destroyed but replaced with a model baring the same serial numbers. Even though it is only seven years old, owners of this rare 651hp beauty have seen a doubling in price since its release.
1987 F40
- Cost new: £245,000 ($400,000)
- Cost now: £324,000 ($530,000)
Return on Investment: 32%
The F40 was the first production road car to break the 200mph barrier. Top Gear called it "the greatest supercar the world had ever seen" and probably rightly so, as it was the fastest (street-legal) car in the world for a couple of years after its production. Price fluctuations have seen them go for silly money at auctions in the past, though auction prices have stabilised in recent years. Still, the F40 presents a dependable investment which will take you to 60mph in 3.8 seconds.
2005 612 Scaglietti 3
- Cost new: £156,000 ($255,000)
- Cost now: £183,000 ($300,000)
Return on Investment: 17%
This is an actual four-seater, large enough for four adults and with ample luggage space for it to be a genuine GT car. First marketed in 2004, it is the only model on this list still in production and is well on the road to doubling its original asking price despite being a veritable infant. Its modernity makes it much more impressive on paper than any of the other cars here, but the money.co.uk team are divided on whether it has the same character as the older machines.
Reasons to Buy a Ferrari
Cars first registered before 1977 are eligible for free road tax, and classic car insurance is often a reasonably inexpensive affair if you keep below a certain mileage and belong to an owners club.
Buying a Ferrari in order to throw time and money at it could pay off. If you buy a 1960 California in ‘used' condition for £2.5m ($4m), you can expect to pay another million getting it into shape for resale. However, you can then expect it to fetch around £5m ($8.2m) in auction - a tidy profit of £1.5m ($2.45m).
Now is the best time to buy the car of your dreams. If you had a spare £10,000 ($16,400) in the late sixties and didn't buy a Daytona, you probably regret your mistake. The same is true of the F70 when it comes out this year - if you want to buy a motoring legend, why wait for it to become prohibitively expensive?
Ownership of a Ferrari will give you access to an exclusive club and the social events that go with it. Unlike other investments, a Ferrari will bring you into contact with people who share your passion for cars from all over the world.
The machine will delight your senses every time you use it. The throaty roar of Ferrari's twelve cylinder engine, the smell of a nurtured interior and the gleaming red bonnet in front of you will give you far more pleasure than some dusty share certificates tucked away in a chest of drawers.
