It Takes A Lot More Than Money To Buy The Latest Ferrari Supercar

Ferrari

The Ferrari Laferrari supercar.

Anyone who wants to own Ferrari's latest supercar should already have 20 to 30 Ferraris in his collection, Ferrari North America CEO Marco Mattiacci said Wednesday.

Fame alone cannot secure someone a spot on the very short list for the car, LaFerrari. It takes devotion to the brand.

Asked if Barack Obama could buy the car, estimated at $1.3 million, Mattiacci said maybe. But he noted that several very high profile people have already requested one and been turned down.

The new flagship supercar was revealed at the Geneva Motor Show in March. It combines a V12 engine with Ferrari's HY-KERS hybrid system, which produces 950 horsepower. That will send the car from 0 to 60 mph in under three seconds, and give it a top speed above 217 mph.

Ferrari took 1,000 requests for the car almost immediately.

The limited run — only 499 will be built — is an extreme example of Ferrari's recent decision to push down production to make its cars more exclusive and valuable.

Speaking at a panel about the state of the luxury market on Wednesday, Mattiacci said the brand wants "to grow in a qualitative way."

Ferraris offer heritage, quality, and exclusivity, he said. "I would compare these cars to Picassos."