Is the Ferrari 250 GTO ripe for a comeback?
The Ferrari 250 GTO is often described as the brand’s most Ferrari-like Ferrari. Less than 40 were built in the 1960s, and they command a high price when they come up for resale: in 2014, one of these models broke records for highest bid on a car at an auction ($38 million). Just a year earlier, in 2013, one changed hands in a private sale for $52 million. Does this incredible demand signal that the company will be resuscitating the 250 GTO? According to an interview in Top Gear Magazine, quite possibly.
Ferrari’s share price has risen by 17% so far this year
SOURCE: Yahoo Finance
At the 2018 Geneva International Motor Show, Ferrari’s chairman, Sergio Marchionne, said that “something like” a 250 GTO continuation car was in the works, telling listeners that “the answer is yes, but I struggle with the term continuation car.” A “continuation car” is a new car built to the exact specifications of the original model, with no updates in regards to style or substance.
Jaguar is another top class motor brand that has taken old designs to market, with its continuation versions of the 1957 XKSS and the 1963 Lightweight E-Type. In both cases, the company saw great success – but they used vehicle identification numbers from cars that were “either destroyed prior to being completed or planned but never built.” Doing this helps maintain credibility: expanding limited runs fifty or sixty years later can damage demand, and muddies the waters as to what, exactly, those cars “are”. Marchionne is aware of this. He told reporters that:
“What Jaguar has done with the Lightweight [E-Type] cars is clever, but reinventing the 250 is a tough gig, and living off the spoils of the past is a bad habit to get into. There’s definitely a platform there, and hopefully we can show you something in the next few years.”
Dominion holds Ferrari in its Global Trends Luxury Fund.
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