SINGAPORE-based e-commerce platform Luxglove would arguably be one place to shop if you are looking for a rare (pricey) gift for someone who already has everything.
Tucked away in one corner of this online portal now is a vintage 1961 Ferrari 250 GTE, believed to be the first classic car, and also among the highest-priced items (aside from property) to be listed on any Asian e-commerce platform.
Photo: LUXGLOVES
Its price tag: a cool S$1 million.
It will draw car enthusiasts, collectors and buyers, who, even after buying it, will not even be able to drive it here, as it is a left-hand-drive car; with a few exceptions, such cars are not allowed on Singapore roads.
This model, with its original Ferrari Red exterior and black interior, is the 265th out of only 954 units produced globally. Luxglove, which curates pre-loved collectibles, told The Business Times that the Ferrari will be sold through an “exclusive private sale”, that is, a direct transaction between the buyer and seller.
A Luxglove spokeswoman said: “The purchase of this car would be more for investment purposes or as a symbol of prestige and status.”
Talenia Phua Gajardo, founder and chief executive of Luxglove, noted that selling classic cars online is not a new concept, especially in the West. “But being online gives us more exposure and enables us to reach out to a much larger audience.”
Atul Goyal, a senior analyst at investment banking firm Jefferies, pointed out, however...