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Ferraris are flying off the auction block at record speed. In just two hours, the “Ferrari Five” shatter expectations — helping push Mecum’s Florida auction to a staggering $445 million in sales. The top seller was a 1962 Ferrari 250 GTO went for the eye-watering amount of $38.5 million.
What’s driving collectors to pay these jaw-dropping sums? Mecum CEO Dave Magers joined us on Bloomberg Open Interest with a peak inside the auction frenzy. (Source: Bloomberg)