- RM Sotheby’s
There isn’t much growth left in the classic Ferrari market after nearly a decade of record prices – but for those that are willing to look, there are a few opportunities left.
Craig Jackson, CEO of auction powerhouse Barrett-Jackson, was happy to offer what he thinks is one of the last remaining bright spots in the Ferrari back-catalog: late-model stick shift cars.
It’s not a new trend, but it is becoming increasingly more pronounced: late model cars with manual transmissions, even in models that haven’t earned “classic” status yet, are bringing a strong premium over cars with semi-automatic paddle shifters, Jackson told Business Insider.
“People are getting sick of just clicking [paddle shifters],” Jackson said. “They want to mash the gears and drop the clutch. Feel the gates.”
And because the final Ferrari model sold with a manual transmission- a 599 GTB and one of only 30 not fitted with the F1 transmission – left the factory in 2012, drivers looking for a modern Ferrari experience with a stick are clamoring for what would otherwise be relatively unexceptional Ferrari models, giving them a certain rarity.
In effect, the cars have become unintentional “limited edition” models.
“There were very few California Spiders specified with a manual transmission,” Hans Wurl of Gooding & Co. told Business Insider.
- Wikimedia Commons
“Ferrari marketed their semi-automatic transmission as the ‘F1,’ wanting to relate it to the technology of their grand prix cars,” Wurl said.
“A few of these savvy collectors, whether they were smart or just wanted the manual experience, got a car that wound up being very desirable.”
Most cars which eventually become collectible experience a latency period in which they are, in effect, just used cars.
In the meantime, it’s up to the savvy collector to decide which models will one day be the most desirable.