Poor (tainted) F430.
On paper, a 2007 Ferrari F430 F1 coupe, like many old Ferraris, is a smart purchase for collectors and investors alike, especially one with a famous former owner. Ferrari is literally the only brand whose cars consistently increase in value over the years. When we first reported over a month ago that , logic dictated it’d bring in a pretty nice chunk of change. The estimated amount was set between $250k-350k.
Well, the auction took place last weekend and that poor F430 F1 had a hard time finding a new home. According to Bloomberg, bidding stopped at $240,000 - $10,000 below its lowest estimate. How tainted is this Ferrari? After all, it was once owned by the current President of the United States. Surely that alone would, in theory, increase its value. Heck, there’s less than 6,000 miles on its odometer, despite being on its second, unnamed owner who put it up for auction. However, not long after bidding ended, the auction house stated the Ferrari did find a buyer, for a final price of $270,000. That’s still below expectations. For example, a 2008 Ferrari F430 GTC was sold at another auction last January for almost $500,000.
Here’s an even better comparison: There was another 2007 Ferrari F430, this one a Spider, which went for $357,500 at auction last year. Considering Trump’s former Ferrari was in excellent overall condition, has low mileage, and is equipped with Daytona-style seats and carbon dash inserts, you’d think it’d be worth more. Sad!