FILE - In this March 13, 1990 file photo a 1962 Ferrari 250 GTO is displayed in Bridgehampton, New York. (AP Photo/Mario Suriani, File)
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
ART FINANCE"The hedge funder's new Ferrari" is not Italian, fast or even a car, according to financier-turned-art dealer Asher Edelman.For those on a tighter budget, a Chinese company plans to finance the purchase of a $75 million Michelangelo painting by issuing 7.5 million restricted shares at $10 a pop.Even so, there are Ferraris and then there are Ferraris.More owners are buying and barely driving supercars because low mileage means a higher price later on, Ferrari expert and racer Todd Morici said. (He calls those cars "garage art". ) Vintage autos as a category returned 288 percent in the past decade, according to the Knight Frank Luxury Investment Index, or more than twice that of the S&P 500 Index.Morici, 62, owns five Ferraris and builds collections for European and Middle Eastern buyers through his Morici Motor Sports LLC. Ferrari allows only clients who race in its motorsports program to buy the special edition 488 Pista Piloti.
FOLLOW THIS ARTICLE