High end Ferraris up for sale in Monaco

4/19/2012

Several Ferraris are expected to command millions of dollars in bids at an upcoming auction in Monaco, reports Bloomberg.

The 1957 Ferrari 625 TRC Spider is one of two in the world and has a pre-auction estimate of more than $4 million. It may actually be outsold by the 375 MM Spider, a racing Ferrari from the 1950s that may fetch more than $5 million. A more modern racing Ferrari used by Michael Schumacher will likely break $1 million at well.

Ferrari remains one of the top brands in the world in terms of collectible vehicles due to the prestige of the nameplate and the rarity of some models. Although some vehicles are rarer, collectors who buy Ferraris are essentially ensured their model won't lose value over time, as Ferraris have always been a highly-desired vehicles.

"Ferrari trumps all other names in terms of prestige and liquidity," Geneva-based auto adviser Simon Kidston told the news source. "Collectors like to see the way this marque is traded regularly. If you have a good car that's priced correctly, you can find a buyer within hours. Overall, the trend is upwards."

Today's vehicles could one day become classics, but they'll never reach that point if owners ignore their scheduled maintenance. Paying close attention to things like brake repair and oil changes can help ensure that your car stays on the road for years to come.