Appreciating Classic Cars: Now’s the Time to Buy?
If you have a Maserati MC12 Corsa to sell, you should advertise it where potential buyers hang out.
Check your garage, loyal readers, because if you have one, you’re in luck. The Corsa is the racing version of the road-going MC12, and only 50 Corsas were ever produced.
Produced back in 2004 and 2005, the car boasts a Ferrari Enzo V12 engine that makes 620 horsepower and jumps from 0-62 mph in 3.8 seconds. The car is based on the Enzo, however it’s slower and bigger than its more attractive cousin.
It’s kind of like an Enzo in a fat suit, to be honest. Regardless, the car is incredibly rare and valuable, especially in Corsa trim.
So where might potential buyers of this expensive machine hang out?
The Pebble Beach Concours, of course.
Autospies caught wind of the car cruising around Pebble Beach, saying:
To see an MC12 is an event. To see an MC12 Corsa, specifically on the road, is one of the most unlikely things as it is a car built for the track. But from the video clip shot by Jason Thorgalsen below, it’s clear one New York-based owner has made a dream reality. And, as Jason points out in his video, it may actually be for sale.
That’s some smart marketing, because cars at Pebble Beach sell for a lot of money. A 1962 Ferrari GTO sold there for a record-breaking $38 million, so it’s pretty clear that shoppers appreciate rare classics.
CBS News says,
…classic cars have seen their values spike sharply in recent years, with the price of collectible Ferraris rising more than 60 percent last year alone, the Los Angeles Times notes, citing the London-based investment research company Historic Automobile Group International.
What’s driving up the prices of high-end collectible cars? It could be the surging wealth of the top 1 percent of earners, or it could be investors seeking to flip the cars and make a quick profit. The current owner of the GTO that sold for $38.1 million is an investment group that bought the car only two months ago, according to the LA Times.
You and I probably won’t spend $38 million on a car. However, if getting into the buying and selling of classic cars is of interest, you need to hang out where like-minded people are. List your car in CarGurus’ used listings and start shopping there if you’re in the market to find a classic.
You probably won’t find that $38 million Ferrari, but as of this writing there were two nice replica GTOs listed.
What classic car would you buy to start your collection?