Purchasing a Scarce 1990 Ferrari F40 is Available for $5 Million Immediately
The iconic Ferrari F40, one of the most coveted supercars of all time, is set to go under the hammer at a federal court auction in Santa Barbara, California on August 12, 2023. This U.S.-spec 1990 model, with just 7,430 miles on the clock, is one of 213 F40s produced for the U.S. market out of a total production of 1,315[1][2].
Interested bidders can participate in person or via Zoom, with the auction being overseen by Icon Servicing. To become a "qualified overbidder", potential buyers must submit an email to Icon Servicing with a minimum bid of $2.6 million[1]. The opening bid, placed by RM Sotheby's, stands at $2,555,000[1].
The F40, originally conceived by Enzo Ferrari in 1984 to compete with the Porsche 959, is powered by a twin-turbo V-8 engine producing 478 horsepower. This raw power is sent to the rear wheels via a five-speed manual transmission[1][2].
The estimated selling price for this rare piece of automotive history is $5 million USD. This is the "buy it now" price authorized by the federal court auction, and it ends the auction immediately if accepted[1][2][5]. Notably, this price is higher than recent comparable F40 sales, which typically range from $2.4 to $4 million[1][2][3].
It's important to note that RM Sotheby's has placed a "stalking horse" bid of $2.55 million for the car[1][4]. The auction base price is likely to be higher than this, but not much more. There are no buyer or seller fees applied; what you bid is what you pay[1].
This is a rare and high-profile opportunity for any Ferrari enthusiast or collector. So, gear up and get ready to bid! The auction for this iconic 1990 Ferrari F40 is not expected to push prices for F40s into eight-figure realms, but it promises to be an exciting event[1].
[1] - Based on information from various sources. [2] - Source: Icon Servicing [3] - Source: RM Sotheby's [4] - Source: Federal Court Auction documents [5] - Source: Craigslist listing (initially listed by the seller at $5 million as a marketing stunt or court-approved sale price)
The auction for the iconic 1990 Ferrari F40, a coveted supercar in the automotive industry, is anticipated to impact the lifestyle of luxury car enthusiasts and collectors, with an estimated selling price of $5 million USD. This high-stakes event in the Californian transportation sector is being conducted by Icon Servicing, and the opening bid, placed by RM Sotheby's, stands at $2,555,000. Due to the absence of buyer or seller fees, the finance aspect of this transaction could potentially be streamlined, making it an appealing opportunity for potential bidders.
