A Ferrari 250 GTO was sold at RM Sotheby's on Saturday night for a record $48.4 million as part of the Pebble Beach Concours d'Elegance.
This article screams of a top in the financial markets, $48M for a car, people are making stupid money in the markets and have nothing better to do with it then waste it on toys like this. The Ferrari 250 GTO is a beautiful car, no doubt, but come on, $48M, no way.
Read the full story here...
https://www.cnbc.com/2018/08/27/most-expensive-car-ever-sold-at-auction-fetches-48-million.html
If pretty much all the markets in the US weren't at record highs, no way this car goes for this price, that's all I'm saying
I agree with your point. Buying a new and costly car it's good but spending 48m on a single car it's not a good idea.Hi @onthehook8
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So true
Most collectables are doing great now price wise, it's not only the car market. I think it's because interest rates are so low people are looking to park money into alternative investments.
Agreed, but also because the central banks around the world have printed huge amounts of currency units, and the rich always seem to get to use it first, funny how that works.....
You got a 92.31% upvote from @brupvoter courtesy of @onthehook8!
Thanks