Originally Posted by
Forgotmyhat
Nobody said a Ferrari was an investment strategy. But people poopoo it as frivolous and a waste of money when that isn’t necessarily the case. I’m not a professional trader (as you state above) yet somehow I managed to enjoy Ferrari ownership for three years and end up better off financially than I would have had I not bought the car. I certainly didn’t flush 6 figures down the toilet as some of the nay-sayers would like to believe.
Insurance was around $150 a month with a clean record.
I don’t know what you mean by “normal” people or what that has anything to do with roads in the north. Maybe log on to
Ferrarichat.com and ask someone who owns a Ferrari there.
My E39 has outperformed every one of my other financial instruments:-). I have a Hagaerty guaranteed value policy that is less than 1,000 / year. People are shocked to hear that it is not that expensive to insure an exotic (obviously my E39 is not an exotic) but generally an exotic is not a daily driver and is driven carefully by the owner. Doug DeMuro mentioned in one of his videos that his Ford GT (now worth about 350K) is less than 2k a year to insure.