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Tax The Rich returns with reckless driving in a Ferrari 288 GTO

Tax The Rich, the YouTube channel that exists mainly to terrorize ultra-rare, ultra-expensive cars like the Jaguar XJ220, Ferrari Enzo and Rolls-Royce Phantom, has come out with its first video in two months, starring one of the rarest Ferraris of the past 40 years - the 288 GTO.
Now, by Tax The Rich standards, its treatment of the 288 is better than what the Enzo or the Rolls (especially) got in their videos. The most cringe-worthy parts are in the very beginning, before transitioning to actual roads (yes, we know the 288 was originally meant as a Group B rally car, but that makes zipping about on grass and dirt in a very rare Ferrari no less difficult to watch). After that, it's more of the stuff we wish collectors would do with their cars - drive. Seeing and hearing this 288 GTO at full clip is a thing of beauty, and something we wish were a far more regular occurrence.
Take a look below for the latest video from Tax The Rich.

LaFerrari trading at double its list price

If you've been looking at the seven-figure price tags (plus or minus) on the latest batch of hypercars, and wondering how their manufacturers could possibly charge that much, consider that their predecessors typically traded at well above their list price as it is. The Ferrari Enzo, for example, listed for "only" $650k, but with production limited to 349 units, demand far outstripped supply, driving the mark-up into seven-figures. In fact Enzos are still selling for a million or more at auction. Surely Ferrari deserves a piece of that action itself, at least as much as the speculators... hence the $1.7 million sticker price on its successor LaFerrari.
Here's the thing, though: according to the latest reports, buyers are paying that much again just for the privilege of getting their hands on a LaFerrari. In other words, they're paying double the already sky-high asking price: as much as $3.4 million to put it in the same ballpark as the Lamborghini Veneno (whose production was even more limited) and the latest Legend edition of the Bugatti Veyron Vitesse roadster.
The story gets a bit more sane with its rivals, though: according to the analysis reported by Oracle Finance, the McLaren P1 is commanding "only" a $500k premium over list, and the Porsche 918 Spyder "just" $335k extra. However even less expensive new models from high-end automakers like the Lamborghini Huracán and Porsche Macan are reportedly commanding $50k and $10k premiums, respectively.

Ferrari IPO worth $1 billion to launch imminently

Or maybe not. Back in July, we reported that Ferrari's initial public offering could come any day, based on what FCA honcho Sergio Marchionne told reporters at an international economic forum. Marchionne himself ensured investors that the Maranello automaker was "days away" from filing the paperwork. That didn't happen. Now it's October, and the rumormill is churning about all things Ferrari IPO on the news that the company has filed amended IPO documents with the SEC on September 22. Like last time, the launch is apparently imminent – as early as today, reports CNBC – and sources are hearing an offer of $1 billion in stock, or roughly 10 percent of what FCA believes Ferrari to be worth. Back in July, Marchionne insisted that Ferrari was worth as much as $11 billion, despite experts at the time pointing out that this was much higher than even the company's internal assessment of the brand's value. Bloomberg is also reporting that demand for Ferrari stock may exceed supply by as much as 10 times, even before the IPO. Much of this value (as much as half) is derived from the brand as intellectual property, as opposed to its assets or profitability. Part of the brand value equation is Marchionne's attempt to reposition Ferrari as a "luxury" brand, as Business Insider notes – the word "luxury" is mentioned 151 times in the document. The broad universe of branded Ferrari goods, like luxury clothing and toys, are a strong illustration of Ferrari's power as a brand. For traditionalists and Ferrari fans jittery at the thought of their beloved manufacturer subject to the whims of shareholders, a few calming notes. Tech Times reports that the documents confirm that Ferrari will remain incorporated as an Italian company. More importantly, there's no indication at present that Ferrari's new emphasis on "luxury" will change their product plans, meaning ever-faster exotic cars will continue to roll out of Maranello for now.Related Video: