Posts tagged with: Lamborghini

Maranello, Italy: Home of Ferrari and Lamborghini

posted by   Ian Wyatt   |    November 25, 2008

Posted in   Travel   |   Comments (1)

On our recent honeymoon to Italy, I convinced Carrie to take a couple days in Bologna. Bologna is known for its rich Italian food, some of the best in the country. You may be familiar with Bolognese pasta, which takes its name from the region.

Within a short drive are to of the best known Italian sports car companies, Ferrari in Maranello and Lamborghini in Sant'Agata Bolognese. We spent one day of our honeymoon checking out these amazing cars and the places they are designed, manufactured, and tested before being sold to the wealthy exotic car owners throughout the world.

First stop was Galleria Ferrari, the official museum of Ferrari, a 2,500 square meter exhibition for cars new and old, ranging from the old classics to the brand new models, including an extensive collection of race cars and memorabilia.

For anyone who loves sports cars, the Galleria is an amazing visit. Enzo Ferrari started the car company in 1947, focused on producing world class, 12-cylinder race cars. The company has since evolved into the epitome of Italian cars, producing great race and road cars. I've loved Ferrari since I was a teenager with car posters on my wall, and a visit to Ferrari was simply an amazing experience. Unfortunately, a factory tour is only available to current owners, which restricted us from arranging a visit (apparently Ferrari knows where every single car every produced is located, and arrangements months in advance by your local dealer are required).

Second stop was the Lamborghini museum. The museum itself was much smaller, with only about 20 cars on display, including many prototype cars which have never been produced. The history of Lamborghini is also rich, although not as in depth as Ferrari. The number of models ever produced is much smaller, as is the total number of units sold.

We were fortunate enough to be able to tag along on a factory tour for an extra 20 euros each, as a Diablo owner from the Netherlands happened to be going on his tour at the same time. The cars go through 25 assembly stations where they spend 45 minutes at each station. All are custom built, with everything from the exterior color to the stitching on the leather seats being selected by the owner. Each car goes through 150 hours of manual assembly. Current production cars include the Murciélago (~$250,000) and the less expensive Gallardo (~$150,000). The cars look amazing, with great color combinations, huge V10 and V12 engines, and impressive performance.

Outside the factory, there are roughly 25 new cars that are recently completed and being tested. While cars are tested on a factory race track, all are also driven on the roads outside Maranello, where the cars are driven to test the real driving experience of the Italian country roads.

As a kid, I always loved the Italian sports cars. A visit to these places will turn any car lower into an Italian car enthusiast and aspiring Ferrari owner. Unfortunately, they are so damn expensive.

The bad news (or good news, for aspiring owners?) is that the economy U.S. economy is bad, and the global economy is slowing quickly. Certainly the effects of the economy are weighing on new automobile sales, and the used car market must also be suffering.

In the December issue of Sports Car Market magazine, Ferrari historian, race driver, and broker reports that "six months ago we received one or two calls or emails a day from people who wanted us to help them to market and sell their Ferraris. Today we receive half a dozen calls or emails every day, and the number is growing." Another article from the November issue of the same magazine titled "Highs and Whys in Monterey" ended with "...Ferraris are not cars, but commodities, and their value is a reflection of the ever-changing economic world in which they change hands. As in all markets, it's simply a case of supply and demand. Right now, the supply is ramping up and the demand is winding down."

The case could be made for leveling if not declining prices for Italian exotics in the coming years. Think of all the Wall Street bankers or real estate millionaires who took their less than hard earned cash to purchase the latest great sports cars. Certainly, many of these individuals will be unable to afford such purchases in the coming years. And at the same time, existing owners and collectors who are getting older (and poorer) may be looking for liquidity. Selling a Ferrari or two may yield the desired cash in a difficult market.

With collector cars, specifically Ferraris, seeing their values soar in recent years, it is now surprise that they slowing global economy may be hurting sales of these exotic cars. While those truly collectable Ferraris (those in the +$1 million range, of which there are many) may remain more stable, I have to believe that the market for mid to lower end Ferraris including many models from the 70s and 80s including the Dino, Mondial, 308, 328, 348, 355, and Testerossa will be falling substantially in the coming months and years as supply outstrips demand.

I have to wonder if the bubble for collectable cars will be bursting soon after the housing market in the United States. Maybe when the stock market comes back to life and my investments recover in a decade or two, I'll look to buy a 1980s Ferrari Testerossa at a bargain price. Even if it doesn't gain in value, at least I'll have a lot of fun driving the back roads of Vermont.

More photos in the Photo Gallery.