As an Italian, Joe really does believe that Ferraris and Maseratis are the ultimate cars. Joe’s passion for exotic machinery, the legendary Italian brands in particular, was instilled from an early age. A visit to the Joe Macari Showroom in London reveals a stunning array of classic, modern, racing and supercars; a more exquisite selection of Ferraris you will not find elsewhere in the UK. Joe’s showroom is often mistaken for a museum with its vistas of exotica including Ferrari 250 California, La Ferrari, Stradale, Pagani and GTO. If you know your supercars, you will be suitably impressed. Joe doesn’t just offer a range of classic and performance cars to suit a wide range of tastes, he also runs some fantastic events in the showroom including an upstairs bar area complete with balconies and several glass-topped tables built using Ferrari engines. Although Joe offers predominantly high-quality used Ferraris for sale he also offers other great automobiles such as the Lamborghini Miura or Pagani Huayra. Joe is ideally placed to share his insight into the Italian Supercar market.
Investing In Ferrari
Joe has been concentrating on his business of classic car sales and restoration. The classic car market was one of the best kept secrets in the investment field. With the growth of the internet and social media, people are discovering this sector. Buyers are now finding that they can buy a car and get pleasure from using it with their family while enjoying the bonus of an uplift in value along the way.
“The strongest marque by far is, and always will be, Ferrari.”
Recent auctions have highlighted the demand for useable classic Ferraris. Joe believes that the relative shortage of classic four seat and 2+2 Ferraris in the market, makes them the best investment today. “Pretty cars always do well but Ferrari didn’t build many four seat or 2+2 cars in the 60s or early 70s, so if you’re looking for a tip on what to buy now, the Ferrari 250 GTE, 330 and 365 ranges make a lot of sense.” These are models of Ferrari that many people don’t know exist. The internet has changed that; with around 300BHP, this era of Ferrari are good to drive and come with power steering and air conditioning.
Other Ferrari models that have recently seen a very strong rise in value include the rarer Ferrari 250 Lusso, 250 SWB (Short Wheel Base) and to many, the ultimate Ferrari; the 250 California. As an example of classic investment, a 250 SWB would have cost £2m five years ago; today they are fetching in the region of £6m. The Ferrari 250 SWB California Spyder, with its enclosed headlights trimmed in chrome, is one of the most desirable road going Ferrari of all time. Recent prices are in excess of $15m.
With some Ferrari prices in millions, recent articles have likened the classic car industry to the property market. If one is looking to invest, Joe advises investing in a ‘blue-chip’ area, where there will always be demand. Investors focus on provenance. A vehicle with a verified documented history is more valuable. A full history of a vehicle’s life since birth adds significantly to a car. In recognition of this and, in an acknowledgement of the investment potential of a classic automobile, Ferrari introduced the Classiche Certification programme 10 years ago. Classiche is where a vehicle undergoes a Ferrari inspection. They are then documented and certified by Ferrari. These vehicles represent the best investment potential as they have the authenticity of Ferrari behind them.
“A Ferrari is like fine art; there are a finite number of cars produced and they are not making any more. This is what drives prices of a classic Ferrari.”
But when you own your classic Ferrari, you can drive it, which will not harm your investment.
Owning a Supercar
With owning a vehicle as special as a Ferrari or Maserati one must consider the long term condition of the vehicle. A tour of Joe’s Ferrari and Maserati approved service centre and restoration premises will reveal modern Ferrari and Maserati sharing workshop space with more rarefied classics from Bugatti or Lamborghini. The facilities include an engine testing room where one can see V12 engines being put through their paces.
Being a seasoned racing driver with Le Mans to his credit, Joe will undertake most work and advise clients on what is the best route to take on a rebuild, from minor bodywork to a full, ground up restoration.
If you are looking to invest in a Ferrari or Maserati there are several schools of thought on what to buy; original and untouched, mechanically sound with some patina on the coachwork, or fully restored and ready for modern road conditions. Most collectors tend to choose restored with some modern touches and auction results reflect this. This way you will enjoy the car on today’s roads and have the potential of increasing value.
If one were to look at ‘modern day classics’, these are the 288GTO, F40, F50 and Enzo, all of which have also seen impressive price rises in the past 10 years. Built in limited numbers and with greater useability, prices can only go one way, especially once Chinese collectors enter the market.
The main thing to remember when looking at Ferrari is to buy with your heart and the future value should be secondary. Visit several well-established dealers with good reputations and decide which one would be the most comfortable to work with and allow them to do the upkeep and servicing involved along the way. It then becomes fun as you work together.