Ferrari opened up shares of the company for public trading on the New York Stock Exchange this week, under the ticker symbol RACE. The Italian luxury carmaker fetched as high as $61 per share, despite its IPO price starting at $52 per share, the Wall Street Journal reports.
While owning a piece of the Ferrari name is an exciting prospect, owning an actual Ferrari is a lot more exciting. The good news? The sale shouldn’t affect the asking price of older models, says Marcel Massini, one of the world’s leading historians on all things Ferrari. “I don’t think there is a direct, immediate relation between the stock and the classic cars,” he says. However, “we should not forget these cars were built in small numbers, they will always remain scarce, so there will always be a huge demand for the classic Ferraris.”
According to Massini, the most undervalued Ferrari out there is the 1997 and 1998 Ferrari F50, averaging a cool $1.5 million. Massini explains that because of its rarity, the F50s from the late 1990s should actually be fetching something like $2 million. While you might not have that kind of money to throw around, there are plenty of other investment Ferraris to buy. Here, with a little help from Massini, are five, from at $21,900 to $179,500 that can appreciate on the road and in your garage. Or, you could always buy some stock.
1988 Ferrari Testarossa Coupe
There’s nothing quite like the Testarossa — it was the ultimate 1980s poster car, synonymous with Miami Vice — it’s a true head-turner. Massini says that most Testarossa’s fetch something between $150,000–$200,000 — which makes this black, garage-kept, all original miles (28,537) 1988 Testarossa a sweet deal at just $97,000. [$97,000; vast.com]
1968 Ferrari 365GT 2+2
One of the first Ferraris to feature power steering, this 365 also has power windows, air conditioning, and a full history report. One of only 809 produced, this car is a true 1960s classic. [$179,500; carsforsale.com]
2003 360 Spider
If you’re going for a modern convertible, then this is it. Its sleek body design allows for the Spider to look just as good with the hard top on as it does when it’s off, and it retains all the speed and torque of a normal coupe. [$84,950; carsforsale.com]
1979 Ferrari 308 GTS
Tom Selleck’s Ferrari from Magnum P.I. — need we say more? This 308 has a beautiful blue paint job with a tan interior, and 48,000 miles. [$69,500; carsforsale.com]
1982 Ferrari Mondial
Considered to be a great entry car to the Ferrari club — Massini cites the Mondial as arguably the most inexpensive models available today. This black Mondial costs the same as 2016 Hyundai Elantra — wouldn’t you rather have a classic 1980s Ferrari and still be able to have power windows, locks, and steering? (Bonus points for being the kind of Ferrari that Anthony Michael Hall drove in 1985’s Weird Science.) [$21,900; carsforsale.com]