Money to burn in a recession

By Al Pefley - bioemail

WEST PALM BEACH, FL (WFLX) - Even in a recession, with unemployment at its highest level in years, some people still have money to burn

A new Ferrari dealership is under construction in West Palm Beach on Okeechobee Boulevard.

Although the building isn't yet finished, the first shipment of new cars is already in, and two Ferraris have been sold in the first 10 days.

The Ferraris start at about $220,000, and the more expensive ones are nearly $400,000.

The dealership says the first two buyers didn't seem too worried about the recession.

They both paid cash - writing out checks for the full amount. "A lot of people do have a dismal view of the economy right now. But that being said, the Ferrari buyer, the Maserati buyer, is usually the CEO's of companies or the presidents of companies, and these are people that've made it to the top," said Tom Clinton, general sales manager of Ferrari/Maserati of Palm Beach.

The Ferrari dealership expects to sell 50 cars a year.

The new building with showroom and service bays is scheduled to open in December.