Ferrari owner makes £100k profit in one year



2015-06-26 11:37:56

Ferrari owner makes 100k profit in one year

It was safer than putting his cash in a bank, says UK supercar dealer

The Ferrari Enzo has long been a favourite among car collectors...

This was made clearwhen a businessman made an amazing 100,000 in profit in under a year from his Ferrari Enzo, which he never drove.

The modern classic Ferrari was bought from UK supercar dealer Tom Hartley for 625,000 in 2004, according to the Sun newspaper.

The buyer, a Parisian hotel boss, then sold the unused car back to Hartley a year later for 725,000.

According to Hartley, the buyer invested in the Enzo because it was "safer" than putting his cash in a bank.

But Hartley still made 50,000 profit when he sold the motor to a British businessman for 775,000 -incredibly, within one week.

The Ferrari Enzo would have been worth 450,000 in 2002.

"He's made a very good profit, especially as he just kept it in his garage," Hartley, of Overseal, Derbyshire, UK, told the Sun.

This is another example of how classic cars and supercars are increasingly being treated as investments by buyers who are tired of stocks and shares.

For instance, a 2007 Aston Martin V8 Vantage hasappreciated by10,000 since November to 50,000.

And the Lamborghini Gallardo hasrisen in valuefrom 90,000 eight months ago to more than 100,000.

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