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Donald Trump’s Ferrari failed to reach its reserve price at auction as luxury investment market fades

So Presidential

Donald Trump’s Ferrari failed to reach its reserve price at auction as luxury investment market fades

A president with expensive tastes is proving no guarantee for luxury assets.

Even Donald Trump is having trouble getting a good price for his Ferrari. A 2007 F430 F1 Coupe once registered to Trump Towers left the sales block without meeting its reserve price at a Florida auction last month.

As sales of the Italian supercars — which make up what portfolio manager and car collector Sean Gambino refers to as the “most robust” end of the classic car market — stagnate for the first time since the financial crisis, pricey Manhattan apartments are lying unsold and European Impressionists can’t be shifted.

From automobiles to art to property, here’s a look at how luxury investments are holding up.

Liquid Assets

The Liv-ex Benchmark Fine Wine 100 Index fell 0.5 pe rcent to £302.69 in April, ending a 16-month winning streak.

“After a sustained period of...

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