Curb Zone - View Single Post - Ferrari Auction in Maranello Sets New Price Records

450SEL6.9 · 05-21-2007, 10:05 PM

What was the $9 million sale? A 250 GTO?

Anyway, a buyer bid and won a 250 GTO in the late-'80s with a bid over $10 million, but he didn't pay. Seriously though, some of these prices are insane. The markets for luxury items, luxury real-estate, speculative stocks have all gone nuts.

After the last time the car auction market peaked, the Japanese bubble economy exploded and a global recession hit. Perhaps I make too much of the predictive value of a one-off car auction, but one never knows what is in store for the world economy. There are more and bigger economic bubbles these days than in the late-1980s.

05-21-2007, 10:05 PM	#2 (permalink)
450SEL6.9 Inactive Account Join Date: Oct 2005 Posts: 825 My Mood: Thanks: 57 Thanked 60 Times in 54 Posts	Re: Ferrari Auction in Maranello Sets New Price Records What was the $9 million sale? A 250 GTO? Anyway, a buyer bid and won a 250 GTO in the late-'80s with a bid over $10 million, but he didn't pay. Seriously though, some of these prices are insane. The markets for luxury items, luxury real-estate, speculative stocks have all gone nuts. After the last time the car auction market peaked, the Japanese bubble economy exploded and a global recession hit. Perhaps I make too much of the predictive value of a one-off car auction, but one never knows what is in store for the world economy. There are more and bigger economic bubbles these days than in the late-1980s.