Tokenization is moving forward. Now Finexity has made another “Classic Car” available to investors in the form of the Ferrari 328 GTS (1989). Is the investment in the tokenized sports car worth it?
The tokenization of tangible assets enables a new way of investing. The process is supposed to be unbureaucratic, digital and fast. This also applies to investments in “classic cars” such as the Ferrari 328 GTS. This is not the first vehicle Finexity has offered as an investment. Previously, users could purchase tokens of the Porsche 911 Turbo (1979). The 328 GTS is ten years younger and offers a performance of 3.00% according to Finexity estimates. Some risk always remains, investors should be aware of it when it comes to car tokenization offers.
Why tokenize cars?
Tokenization of tangible assets such as classic cars, wine, artwork, and real estate tokens opens the market to a wide crowd of new users. Usually, investments in tangible assets come with many hurdles. Not only do they have to store the tangible assets properly, it is mainly the high prices that deter potential investors. In the case of a classic car, the investment costs can be in the six-figure range. In addition the running costs of the accommodation and care come. With Finexity, on the other hand, the tokenized Ferrari remains in the provider’s garage. Tokenization allows users to invest in only part of the vehicle. Thus, investments with smaller amounts are also possible. At the same time, they benefit from the increase in value.
Ferrari 328 GTS – top model from the 80s
The Ferrari 328 GTS (Gran Turismo Spider) model series ran from 1985 to 1989 and is based on the design of its 308 predecessor. However, the car appears much sportier and sleeker. The soft curves of its predecessor gave way to an angular chassis. The 3.2 liter water-cooled 8-cylinder with its 305 hp provides sports car flair. The engine is mounted transversely in the rear. With a displacement of 3185 cc and engine output of 224 kW, the Ferrari can accelerate to 100 km/h in under 5.5 seconds. The top speed is 263 km/h.
Convertible with open top
The GTS model differs from the 328 GTB in terms of the roof: it is a convertible with an open top. The interior underwent an overhaul. Compared to the 308 series, the 328 got new seats, revised gullwing doors and a modernized switchgear. Optional accessories included air conditioning, a leather dashboard, rear spoiler and additional window flaps. “The 328 is the sleekest, most reliable Ferrari ever,” says Enrique Senior, museum director of the Senega Museum Collection in an interview with Hemmings. “Which is a good thing, because finding some of the individual parts can be a challenge.”
Fact sheet on the tokenized Ferrari 328 GTS
Model | Ferrari 328 GTS |
Year of manufacture | 1989 |
Engine | 8-cylinder V90° |
Number of previous owners | 2 |
Kilometers | 51 309 km |
Produced number | 7 412 |
Is the Ferrari 328 GTS a good investment?
7.412 models of the Ferrari 328 were produced at the Marenello manufacturing plant, most of them Caprios. Since then, it has been considered a robust sports car with a high longevity. From a mileage of the 100,000 mark, regular checks at the workshop are appropriate, as Auto-Motor-Sport reports. Above all, the timing belts, tension rollers and fluids should be replaced every two years at the latest. In addition, the body is very susceptible to rust, which is why it should rather stay in the garage in winter. The 328 series therefore needs a certain amount of care, but is not one of the most demanding sports cars.
Vehicle price drops again after a high
Today’s vehicle price has risen sharply compared to the original selling price in the 80s and 90s. However, it seemed to have reached its zenith at the end of 2015. After the price was 64,000 euros in June 2014, it shot up to 108,000 euros by December 2015. Since then, the price has been falling steadily. In the meantime, it has bottomed out at 91,000 euros. The curve is flattening out, but the trend seems to be continuing. Other Ferrari models are already on the upswing in terms of price. The 328 GTS could also benefit from this in the future.
The tokenized Ferrari 328 GTS in check
For the Ferrari, Finexity gives the following data to start investing:
- 3% indicative total performance
- Total acquisition price is 7.80 % below the appraised replacement value
- Appraised value: 125,000 euros
- Projected life from November 2021 to November 2031
- Projected sales price of 187,000 euros
- Original condition with certificate of authenticity and matching numbers
- Unique luggage set from the leather manufacturer Schedoni Modena
- ABS
- Power increase from 270 to 305 hp
Emotions linked to the car
Classic cars are cultural assets. They remind us of times when vehicles still had a personality apart from assistance systems and silent drives. They have character, history and are valuable. After all, many an automotive fan not only likes to reminisce, but also wants to drive them on the roads. Others are more interested in the tinkering aspect, wrenching and maintaining the machines. But does this make classic cars worthwhile as an investment?
At the moment, investors and classic car owners can look to the future with a positive outlook. According to the “Classic Study 2020 – Young and Classic Cars 2020: The Billion Dollar Market in Transition” by BBE Automotive, one cannot assume a declining market. The study speaks of “a significant industry with a lot of emotionality”. In addition, there are the so-called “youngtimers,” vehicles that are 20 to 29 years old. These are gradually rising to the rank of classic cars.
Classic cars as an investment – caution is advised
However, one should not rush into this market without thinking. This is especially true for automobile fans who have their own favorite brands and vehicles. For here, one’s own passion clouds one’s judgment. In addition, it is difficult to estimate the future value of the vehicles. A Classic Car that is worth 400,000 euros in one year could drop to 300,000 euros in the following years. Anyone who only wants to make a quick buck in this market can soon expect heavy losses. At the same time, of course, the opposite is also possible and the investment will rise sharply in a few years.
The role of blockchain at Finexity
The company Finexity also relies on blockchain technology for Ferrari tokenization. However, unlike many other blockchain projects, this is not a public ledger. Instead, it is a private Ethereum-based blockchain. Finexity offers its marketplace as "software-as-a-service" (SaaS). Regulatory reasons, among others, led to the decision to use a private blockchain.
FAQ – Frequently Asked Questions
How did I invest in Ferrari tokens?
First of all, you register on the Finexity platform. There you can buy the tokens. These include not only auto tokens, but also tokenized shares of wines, real estate, diamonds, and art. Get informed before you start trading. No knowledge about cryptocurrencies is necessary for the purchase process.
What makes the Ferrari 328 so special?
Ferrari 328 is a popular model from the late 80s. This particular car is preserved in its original condition and features a unique set of trunks from the leather manufacturer Schedoni Modena. An additional special feature is the factory power increase to 305 hp. Among other things, this model is known from “Beverly Hills Cop” with Eddie Murphy.
How does the value of a tokenized Ferrari evolve?
According to the expert and consultant of Finexity, Guido Frank, this car has a high potential. This is due to its complete maintenance history, the performance upgrade and the special luggage set. In addition, the car is in its original condition. Such Ferrari vintage cars are becoming increasingly rare, which is the reason for the growth potential of this asset.
