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: Investment value of watches: You can buy a
: Ferrari or Porsche and let it sit, gaining
: value or you can enjoy it like the guys at
: the Monterey Historics who race their
: antique cars and risk it all. They are meant
: to be enjoyed.
I was at the historics a couple of years ago. There was a bit of risking going on.
At one end of the spectrum, a guy wrote of an ex-Schumacher Ferrari F1 car. Big shunt. No injuries. But the car looked so bad they immediately shrouded it, but kept repeating over the PA that the driver was okay.
The other notable miscue: A Ferrari GTO stuffed into a barrier after a novice mistake--jerking the steering wheel after dropping a wheel off the pavement, which causes the car to dart across the track. (The driver happened to be a woman, but it's really incidental.)
Maybe a million dollars worth of damage to a six million dollar car. But don't feel too bad...the family owned three other GTOs.
On the other hand, I met a guy who had a GT40. He was certainly wealthy but not filthy rich like many, if not most, vintage racers (or at least the ones who own GT40s and big Ferraris instead of Abarths.)
He was pretty torn. He loved to race the car, but he didn't want to hurt it, and couldn't afford to absorb a million dollar loss.
It's a double edged sword when your toys get to valuable to play with.
best
Allen
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