Ferrari classic car values up 9.09% since January

The value of Ferrari classic cars rose by 2.67% in May compared with the previous month, according to fresh figures.

The Historic Auto Group's price index of leading classic cars also revealed that values are up 9.09% for the year, giving considerable encouragement to investors in this most prestigious of classic car marques.

Classic Ferrari 250 GTO car
The Ferrari 250 GT, the second-most valuable car ever auctioned

The year's figures have no doubt been boosted by the $31.6m achieved by a Ferrari 250 GTO in February, making it the second most expensive car ever sold behind a 1936 Bugatti Type 57sc Atlantic, which achieved an undisclosed sum between $30m-40m in 2010.

A Ferrari GTB/4 Spider, one of only 124 built, also auctioned for $1m in March.

"Ferrari trumps all other names in terms of prestige and liquidity," classic car expert Simon Kidston recently told Bloomberg.

"If you have a good car that's priced correctly, you can find a buyer within hours."

The figures also revealed that the Porsche marque was up 0.74% in the month, and 8.59% on the year.

The classic car market as a whole remains positive, despite a slight correction during May. The HAGI Top 50 Index, the Historic Auto Group's all-encompassing price index of leading classic cars, is up 5.69% since the start of the year.

Paul Fraser Collectibles will continue to bring you all the latest on the classic car market throughout the course of the year. To make sure you don't miss out on the key news sign up to our free weekly newsletter.

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