Second Hand Luxury: The World’s Most Expensive Used Cars
The brand currently dominating the second hand luxury vehicle market is clearly Ferrari. According to Gizmag.com’s November 2014 study fifty-three of the top one hundred most expensive used vehicles ever sold at auction are Ferraris. A striking dominance particularly because, comparatively, Ferrari is a relatively small Italian automobile manufacturer – one might expect larger competitors to dominate the market, but this is not the case. Used cars from Ferarri have always been good value for money.
Ferrari even holds the record for the most expensive second hand vehicle to ever sell at auction – it’s also the most expensive car ever sold at auction, second hand or not! On August 14, 2014 a 1963 Ferrari 250 GTO sold at Bonham’s Quail Auction for US$ 34,650,000! That’s US$ 38,115,000 if you want to include buyer’s premium in the total cost of the vehicle!
The sale of this 1963 Ferrari 250 GTO saw the record for most money spent on a car at auction returned to Ferrari after the title was held for several years by rival brands. In a beautiful twist of fate, the record was reclaimed by Ferrari on the 26th anniversary of the death of Enzo Ferrari.
Not only has Ferrari managed to produce the car that would go on to become the world’s most expensive second hand car ever sold, but the brand has also produced the world’s most popular second hand luxury vehicle on the Top 100 most expensive cars list! There are 13 Ferrari California Spiders appearing in the Top 100 most expensive vehicles sold at auction, and a 14th just outside the Top 100. These vehicles have been sold for astronomical amounts ranging from US$ 3,905,000 to US$ 15, 180, 000!
Only 106 Ferrari California Spiders were ever made, meaning that, with 13 in the Top 100, more than 10% of the California Spiders ever made are on the Top 100 list – an extraordinary feat by Ferrari. From a collector’s point of view it is this exclusivity, the sheer scarcity of Ferrari models coupled with the hand-made, technical excellence of the vehicles that has given the brand its astonishing resale value in the realm of collectible motor vehicles.