They may be special edition, but are they worth the extra money?
As we have pointed out many times, the used market on Ferraris can be absolutely insane. This is mainly because of wealthy car flippers who buy special edition models just to sell them for a quick profit. No brand is more susceptible to this practice than Ferrari, and we can clearly see the effects on the used market. We have chosen five Ferrari models that we think are vastly overpriced. These models can be found for less, but we chose specific examples that seem way too overpriced. The normal versions of these cars are much more affordable.
LaFerrari owners are some of the luckiest human beings on the planet, and not just because they own the fastest Ferrari ever built. What makes them really lucky is the insane amount of appreciation that they were able to cash in on immediately upon taking delivery of the car. The LaFerrari cost $1.4 million when it was new, making it the deal of the century compared to what they go for now. We could only find one example for sale right now, which has an asking price of $4,195,000. We have seen people ask as much as $10 million for a LaFerrari, making it one of the fastest appreciating cars we have ever seen.
The 458 Speciale and Speciale Aperta are unique because they are the last limited edition, naturally aspirated V8 mid-engine cars from the Ferrari. While this does make them quite historic, we don't think that this is enough to justify asking prices of over $700,000. When these cars were new, Ferrari restricted purchases to people who loaded up on options, so this could have something to do with the insane prices. Still, we found a lower spec 458 Speciale for around $360,000, so buying one for more than twice that price is just outrageous.
The 599 GTO is not one of our favorite special edition Ferrari models. Even Jeremy Clarkson wasn't a fan of this car when he first drove it on Top Gear and it tried to kill him. Obviously no one agrees with our opinions or Clarkson's, because the values in these are astronomical. A little while ago, someone was offering one for over $1 million, and we found one for just under $900,000. We would much prefer to spend that amount of money on a normal 599 GTB with a manual transmission. This was the last ever manual V12 Ferrari, which we think is far more special that the track-focused GTO model which is too expensive for most people to take to the track anyway.
The F430 Scuderia and Scuderia Spider 16M have a similar problem as the 599 GTO. While these cars are nice track-focused models, they are really not that special because they aren't the last of an era. The 458 Speciale is the last naturally aspirated limited edition V8, so we can't understand why the Scuderia still costs over $400,000. We would much prefer to buy a normal F430 with a manual transmission, which would cost less than half as much as the Scuderia.
In its day, the Ferrari Enzo was one of the three fastest cars in the world along with the Mercedes McLaren SLR and Porsche Carrera GT. Today, the Enzo seems a bit dated with its six-speed sequential manual that's much slower than today's dual-clutch transmissions. Still, because it has a Ferrari badge it is worth far more than the Mercedes or Porsche on the used market. It is hard to find one for less than $3 million, which makes it far more than its original $650,000 price. The Maserati MC12 is basically the same car, and only costs about half of what the Enzo does, making it the better value. Today, a Corvette Z06 is faster than an Enzo, so we think it is one of the most overpriced Ferraris today.