Purring sports cars are gathering in Milan on Friday before the festivities move to Modena, where founder Enzo Ferrari was born, and end with an exclusive party in Maranello, where Ferraris have been made since World War II. "Ferrari is a mythical brand: it has had a fabulous track record in speed and represents the pinnacle of the sports car," automotive historian and enthusiast Patrice Verges told AFP. For luxury motor fanatics and punters alike, there is something "Magic" about Ferraris and their distinctive sound.

"Having a Ferrari and being watched is part of the game," Verges says.

It was not until 1947 that the first Ferrari was born - designed by Ferrari, produced at the Maranello factory and bearing the brand's symbol, a black horse on a yellow background, bordered by the colours of the Italian flag.

Patience is a must: Ferrari boss Sergio Marchionne said last year the waiting list for a Ferrari 488 was three years.

Ferrari used to be "a brand for enthusiasts: it needed to be because its cars kept breaking down all the time, though of course no-one admitted it," says Verges.

The myth may have taken a hit, but the fact remains that the most expensive car ever sold at auction is a 1957 Ferrari 335 S Scaglietti, sold at auction in 2016 in Paris for 32 million euros.

Ferrari "Is not a car factory", it's "a dream factory", said Carnevale Maffe.