Why Are People Paying Millions For Wrecked Ferraris?

For ultra rare, and particularly historically prevalent models, that chassis number is worth more than its weight in gold.

All of the above factors contribute to the remarkable value of all sorts of classic cars from all over the globe, but Ferraris are often more valuable than older cars from the same country or elsewhere, cars that are in better condition, or cars that have more noteworthy provenance.

Clearly, there's an X factor that classic Ferraris have. Actually, 'X factor' is not the right term. It's amystique, Ferrari brand has, and it's something that no other automaker can replicate.

Like Lotus, Ferrari was founded by a racing driver. Like Alfa Romeo, Ferrari has been involved in Formula 1 since the early days (it is the only team never to have missed a single season since 1950). Like Bentley,Ferrari has won Le Mansseveral times. And like Lamborghini, Ferrari has an obsession with big, exotic V12 engines. But what makes Ferrari special is that it combines all this and more.

In addition, the company's founder, Enzo Ferrari, had a huge personality and a single-minded focus on racing. He was not a businessman who took a liking to fast cars. He was a man who liked fast cars and had no choice but to start a business to make his dreams a reality. While other companies would go racing to sell more road cars, Enzo would only produce road cars if they helped further his company's racing exploits. He'd have been just fine with thePurosangue.

Then there's the matter of the iconic Prancing Horse logo,steeped in lore of its own,比赛法拉利总是涂成红色, regardless of the motorsport format they were competing in. This remained the case even when many other World Championship teams switched to national colors.

Speaking of looks, Ferrari always used the finest designers to pen its cars, from Pininfarina to Bertone. Things are mostly done in-house these days, but the principle of beauty intertwined with performance lives on.

Combine a racing-first attitude with a distinctive aesthetic, and you have a winner that is recognized the world over, whether for speed or style. The result was that the Ferrari name was on people's lips everywhere, from the Circuit de la Sarthe to the casinos of Monaco.

Enzo's legacy, although intangible, shines even in cars with faded paint and missing windows. That crumpled Ferrari we mentioned at the outset? It found itself in that state after it crashed and burned in a race some 50 years ago, and that makes the damage special in its own way.

A car in that state won't dramatically rise in value over the next couple of years, but if it undergoes a fullClassiche-certified restoration, then it will be worth much more. Bringing this car back to its original glory would be reviving a piece of art, and buyers in this kind of position almost always intend to do just that. Besides the potential financial windfall, the owner is in possession of a piece of history that very few others can ever hope to own, and when your best mates are multi-millionaires, having something nobody else can is worth more than the asking price.

Enzo, passionately but unintentionally, created an icon, and that passion shone through to all his cars. In turn, Ferrari ownership became a lifestyle. The brand hasstrict rules about maintaining its image, and although it may seem snobbish to shun those who modify a Ferrari or buy a car from a direct rival, these rules have helped Ferrari products maintain a sense of exclusivity, even among other six-, seven-, or eight-figure creations.

A Ferrari speaks of old money, of heritage, of pedigree. That pedigree was created by one man, and the fact that we always associate the names Enzo and Ferrari with each other shows that it takes a singular focus and an unhealthy obsession with one's craft to create an enduring legacy.

In summary, no single factor can be attributed to the high value of an all-original Ferrari, but a person can; we would lay the glory for today's success at the feet of its founder. Without Enzo's dogged determination, Ferrari may not exist or may never have reached the heights it has - in motorsport gloryandin hammer prices at auction.