He bought his Dino 246 GTS in 1983 for $29,000. It would sell for about $200,000 today.

Mr McPherson's Dino was on display at the Ferrari Show at the Italian Cultural Centre, Forrest, yesterday, along with eight other Ferraris.

''If you want to have a [certain] lifestyle, you're better off to buy a car like this wisely than you are to buy a new Falcon or Commodore, because most of those will be worth nothing in 20 years,'' he said.

''That was the reason for my decision when I bought it. [I asked myself] 'Do I buy a flat?' The flat would have been a better financial investment, but would have been boring. And life's for living.''

Mr McPherson said Ferrari was known for its ''good looks'' and ''Italian flair for design''.

''But it's also got the racing marque history behind it and that whole mix of stuff is what gives Ferrari its reputation.''

Dominic Pelle didn't want to say exactly how much he bought his 355 GTS F1 for in 2004, although it was in the ''mid-$200,000s''.

''It is expensive to own and run, but how do you put a price on something that you love?'' he asked.

The director of the Italian Cultural Centre, Pino Gumina, bought a red 308 GTS in 1998 for $110,000.

He thinks the difference between what he calls the ''best car in the world'' and other cars is huge.

''Somebody once asked me, 'What's the difference between a normal car and another car like a Ferrari?' And I said to this person, 'You sit inside and have a run and after you'll know.'''

Mr Gumina said a Ferrari's response to a driver was ''fantastic''.

''Anything you ask the car, it gives it to you. Some people may think it's difficult to drive a Ferrari but it's not, it's very easy,'' he said.

Mr Gumina takes ''his baby'' out only a few times a year for fear of its getting scratched or damaged.