Ferrari is one of the most recognized names in the world, which is pretty impressive considering so few people actually own these vehicles. The reason why it’s so renowned, however, is because it’s eye-catching. Ferraris have long been known for their style, their power, and their class. The fact that Ferrari is also a huge F1 competitor and the sport itself has been seeing massive popularity in recent years is another big reason.
There’s so much to Ferrari and so much about the brand that fans need to know, starting with this primer:
What Is Ferrari?
Ferrari is a luxury vehicle brand, and it’s also the producer of some of the fastest cars in the world. Its story begins in Italy; it started back in the 1940s when Alfa Romeo’s boss, Enzo Ferrari, left the company he worked for to start his own brand. It wasn’t an instant success. In fact, it took seven years before the first Ferrari vehicle as we know it today was released. This model won the Turin Grand Prix, and today has been restored and is currently held by a private collector. Its worth, however, is estimated to sit around $8 million.
Where Are Ferraris Made?
Ferrarisare built in Maranello, which is in the Emilia-Romagna region of Italy. This region is also where the Lamborghini, Maserati, and other big brands are produced. In general, Ferrari only produces and sells around 7,000 units per year to maintain its exclusivity. This was changed when, in 2015, the brand was floated on the NY stock exchange. Since then, they have sold closer to 10,000 per year, massively increasing their profits in exchange.
What’s the Cheapest You Can Get a Ferrari for?
Now, the cheapest Ferrari is the Portofino, and even then, it still costs $250,000. The most readily-available expensive Ferrari new is the V12 GTC4 Lusso which starts at around $260,000. The most expensive new model outright, however, requires purchasers to get on the waiting list to secure their purchase.
Ferrari will also create custom vehicles if you’re willing to spend over a million on your own custom vehicle. If you’reafter collector’s pieces, however, you’ll need to pay far, far more. The most expensive Ferrari in the world at the moment sold in 2018 for $48 million. This vehicle? The 1962 250 GTO.
Ferrari on the Second-Hand Market
For those who want to bag a Ferrari for less, buying a used or even restoring a vintage model is absolutely the way to go. Don’t expect prices to suddenly become affordable for regular prices, however. You can still sell your Ferrari 575 for a pretty penny and be expected to pay more to buy it.
Unlike most cars, Ferraris don’t depreciate in the same way as other brands. While there are some models that absolutely can be purchased for less on the second-hand market, that only applies to models not considered to be a collector’s model, like the 1970 Ferrari 512 Modulo model.