Ferrari's Flying Off the Auction Block for Millions of Dollars
Watch on YouTube ↗  |  February 13, 2026 at 13:48 UTC  |  8:15  |  Bloomberg Markets
Speakers
Dave Magers — CEO of Mecum Auctions
Matt Miller — Host

Summary

  • Mecum's Kissimmee auction generated approximately $460 million in sales, breaking the previous record of $260 million.
  • A 1962 Ferrari 250 GTO sold for $38.5 million, and a Ferrari Enzo sold for $18 million, signaling extreme strength in the high-end collector market.
  • The CEO notes a shift in buyer behavior: participants are now "investors" rather than just "collectors," seeking "unicorns" (low mileage, single owner, provenance).
  • Despite macro concerns, liquidity at the top end is robust; 80% sell-through rate with almost immediate payment for high-value assets.
Trade Ideas
Ticker Direction Speaker Thesis Time
LVMH /RMS
LONG Dave Magers
CEO of Mecum Auctions 		Mecum sold $460 million in cars in January. The CEO states that for "monumentally significant" cars, payment was received "pretty much immediately," indicating ample liquidity among buyers. The "Wealth Effect" is clearly active. If high-net-worth individuals are deploying hundreds of millions into vintage cars with immediate cash settlement, the consumer at the very top of the pyramid is healthy. This spending power spills over into other heritage luxury goods (handbags, watches, fashion). LONG. Bullish signal for top-tier luxury conglomerates catering to the ultra-wealthy. Wealth taxes or significant changes in capital gains tax structures could dampen demand for luxury collectibles. —
RACE
LONG Dave Magers
CEO of Mecum Auctions 		The auction saw a 1962 Ferrari 250 GTO sell for $38.5 million and a Ferrari Enzo for $18 million. A single collection (Bachmann) of 46 Ferraris brought in over $120 million. Record-breaking auction prices for vintage models act as a massive marketing engine for the modern Ferrari brand. It reinforces the "Veblen good" status of the vehicles, proving that Ferraris are not just depreciating assets but investment-grade stores of value. This supports Ferrari's pricing power and brand equity in the primary market. LONG. The secondary market validates the primary market's exclusivity strategy. A broader economic downturn could eventually impact high-net-worth discretionary spending, though the ultra-wealthy are currently showing resilience. —