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Why this '95 Ferrari F355 Sold for $76k Above Its Last Sale

Why this '95 Ferrari F355 Sold for $76k Above Its Last Sale

PLUS: 😱 The $2.5m Ferrari F40 Crash

Sam Gold
April 26, 2024

The Daily Vroom

Good morning, Vroomers!

Let’s dive straight into today’s edition…

MARKET LEADERBOARD

💰 The figures shared below don’t count any other sales such as car seats, memorabilia etc… All online auction sites are analyzed to put this leaderboard together.

I only include websites that have sold 5+ cars in the chart below.

Hoping for a few blockbuster sales that ended up fizzling out, yesterday's auctions still managed to rack up a total of $5.3 million. The usual suspects topped our leaderboard, while familiar names like Hemmings, Hagerty, and PCarMarket were notably absent. The path forward for these platforms is clear: they need to boost their game by increasing their listings, though that's easier said than done.

Next week, I'll be back with an update on the overall state of the market. There are definitely some intriguing developments unfolding behind the scenes at several platforms that I'm eager to share. Stay tuned!

YESTERDAY’S TOP 5 SALES

To view each listing, please click on the cars.

2019 Porsche 911 Speedster Heritage Design $401,000

2023 Porsche 911 Daka $240,880

2023 Porsche 718 Cayman GT4 RS Weissach $228,000

2018 Ferrari GTC4LUSSO $199,500

2023 Chevrolet Corvette Z06 Convertible 3LZ Z07 70th Anniversary Edition $186,000

Alumni Catchup

Below are the top 5 Alumni sales yesterday. The arrows in the diagram below show whether the vehicle sale has gone down or up in value.

I need to spotlight the 1995 Ferrari F355 that just sold for $76k more than its sale price four years ago. Back in its heyday, this Ferrari was touted as the vehicle you could "Drive to the track, race, then take out for the evening." It represented the last of the true "Gentleman’s Racers" in the auto industry.

It's quite fascinating to try to pinpoint why its value has surged. Since the previous auction, the car has seen some upgrades like new street lighting and H&R springs, and it's been serviced with new tires, spark plugs, and fluids. Although there's no single clear reason for the price jump, considering the sheer joy of driving this car, I believe it still represents tremendous value for the new owner.

On the other end of the spectrum, this 2020 Ford Mustang Shelby GT500 took a hit, losing nearly $30k in value in less than a year, despite only an additional 300 miles on the odometer. It's hard to pin down exactly why this stunner sold for so much less.

Clearly, the seller was motivated to move it quickly, as this wasn't a no-reserve auction. Interestingly, yesterday’s auction attracted more viewers than the original listing. Could it be that the original seller (known as 911r) had a better presentation and established more trust on the platform, allowing it to sell for above market value last year, while this time it fetched significantly less? Or perhaps there wasn’t the two buyers on the day willing to fight it out?

Tesla CyberTrucks Update

Now that listing a Cybertruck has become a regular occurrence, let's dive into the stats for all the listings we've seen since the first one hit the scene in March.

Currently, the going rate for these on the online market hovers between $120k and $130k. It'll be interesting to see if we start seeing more pop up, or if sellers will catch on that the window for a quick profit might be closing.

The upgraded "Cyberbeast" has made appearances exclusively on SOMO and has commanded prices of $169k and $250k in its two outings. One more of these is live here.

SBX Cars Auction Results Update

The first week of auctions at SBX Cars has wrapped up, and honestly, it’s been a bit of a rollercoaster. Out of 14 cars listed, only the Rolls Royce found a new owner two days ago. Yesterday’s auction drew a blank with no cars sold, though the 1990 Mercedes-Benz Wolf GD250 did go in a private sale afterwards—not for a headline-grabbing price, but a sale nonetheless. This leaves quite a few question marks hovering over SBX Cars at the moment.

With a busy auction schedule ahead in the coming weeks, the big question on everyone’s mind is whether we'll start to see some notable sales. Trying to look on the bright side, despite the slow start, SBX Cars has attracted bids from across the globe. They’ve also seen some strong interest, like the high bids for the AMG-One, which pulled in plenty of eyeballs.

We all recognize that SuperCar Blondie commands a massive following, but the burning question has been whether this audience can convert into actual buyers. So far, it seems the jury is still out. However, and this is a significant however, it's still early days for them. I'm definitely keeping my eyes peeled, eager to see how the next wave of auctions pans out next week. Here’s hoping for some exciting turns!

Auction Spotlight

Today I wanna highlight a few reasonably priced cars that you may have missed.

A very clean and honest low mileage 993. This one is still in the possession of the original owner and seems nicely presented.

A rare and great color combination for the Grand Wagoneer.

I do love the Ariel Atom and I would love to own one. This one has a track driving video that should be an example of what a driving video for a listing should be like.