President Trump’s Ferrari heads to auction: Will it fetch a premium?
This should be the biggest Ferrari F430 sale of the year. So big in fact that some might say it’s “yuuuuge.” Although F430s aren’t common, even a cursory online search reveals that they are available, if not cheap. But this example, coincidentally being auctioned on April 1, 2017, by Auctions America at their Fort Lauderdale (Fla.) sale, was purchased and titled new in 2007 by our recently inaugurated 45th president, Donald Trump.
The Auctions America low pre-sale estimate is $250,000, which represents a roughly 30 percent premium over an average Ferrari F430. That expected premium is largely due to Trump’s celebrity and new political status, and to a lesser degree the car’s low mileage.
While the Rosso Corsa (Racing Red) Ferrari was sold to a new owner in 2011, the car will be auctioned along with a copy of its original title including “President Trump’s Trump Tower, New York address and his distinctive, bold signature.” According to Auctions America, “President Trump owned the car for a little over four years during which time the car accrued a little over 2,400 miles.” It currently shows fewer than 6,000 miles and is equipped with a 4.3-liter V-8 and semi-automatic F1 transmission. Besides its relatively low mileage, we wonder if President Trump’s ownership justifies the aforementioned premium.
This sale does present both car and presidential history enthusiasts with a unique opportunity to own, enjoy – and hopefully use – a supercar once owned by a president. And it is a unique opportunity as most memorabilia doesn’t have a horsepower rating: “To see a former or current President’s personal vehicle offered for sale is extremely rare.” Furthermore, as befits Trump’s larger-than-life persona, most chiefs of state never owned a car that makes 490 hp.
So we’re curiously watching and wondering if this Ferrari, with its Chief Executive-provenance, will bring that 30 percent premium. Do you think it will?