Whether you like it or not, it is a proven fact that most cars are depreciating assets and lose money over time. There are, however, some notable exceptions to this rule such as certain classic Ferrari models.
For example, at an auction held over the weekend in Pebble Beach, California, a rare 1960 Ferrari California 250 LWB Spider Competizione was sold for a staggering US$11 million (€8.9 million) or about the equivalent of more than 50 brand new Lamborghini Aventador LP700-4 supercars, to an unnamed collector.
The dazzling example is an extremely rare model that has been built only nine times for competition and comes from the Sherman M. Wolf collection, who had bought it from its first owner in 1979 and owned it until last weekend.
The auction also saw several other unique Ferrari models from the same collection going under the hammer including a 1985 288 GTO, sold for US$1 million (€810,000), and a 340 MM Spider, that found a new owner for close to US$4.5 million (€3.7 million).