Buyers cannot sell their new Ferrari within the first year of ownership. This is clearly printed in the contract – Photo: Motor Biscuit
Ferrari doesn’t just sell cars, they also sell style. They evaluate all potential buyers to see if they are worthy of driving a Ferrari. That’s one of the reasons people have to spend so much money to buy a Ferrari. And once the buyer has decided to touch the “Italian prancing horse”, the buyer will have to follow the strict rules set by the company.
That means, Ferrari can completely put a certain celebrity on the “black list” of not buying cars, or not allowing employees to buy their own cars to work.
According to Yahoo Finance, in 2011, Ferrari sold 11,155 cars. Although it is a record for them, it is nothing for popular car manufacturers. But it is these “small” numbers that show the rarity of the “prancing horse”.
So, once they have enough money and pass Ferrari’s rigorous “background check”, buyers have to be sure it’s the car they want to stick with. Because there is no room for regret. Even if the car has already belonged to the buyer, Ferrari can still “take back”, in many forms.
Buying any car, let alone an expensive and prestigious supercar, involves a lot of paperwork. But with Ferrari, you have to read every line more carefully.
Failure to comply will result in the buyer being blacklisted. Those on the black list can only buy back used cars or through many intermediary floors – Photo: Motor Biscuit
According to Motor Biscuit, one of the most common requirements is that a buyer cannot resell a Ferrari during the first year of ownership.
The reason is because the Italian car company wants to prevent people from selling hands-on and profiting from their limited production cars. Especially when they have spent a lot of time and money to thoroughly check and choose the right owner of the supercar. And the resellers will usually not be so meticulous.
Don’t think you can beat Ferrari. Steve Wynn, an American real estate magnate, casino and art collector, once ignored the rules and sold his extremely expensive Ferrari LaFerrari to someone else before the deadline had come. As a result, he was blacklisted and never allowed to touch a rare Ferrari again.
The contract also stipulates that the buyer cannot resell the car without notifying Ferrari, even after the first year of ownership has passed. They do not want the prestigious car to fall into the hands of “unworthy” buyers. In addition, they also want the right to buy back the car once the buyer no longer needs it.