24/05/2007 RM Auctions - Ferrari Leggenda e Passione 20th May 2007 - Review Scarlet Fever
A little bit of North American showmanship came to Maranello last Sunday, in the form of Ontario auctioneers RM, in association with Sotheby’s, holding their first all-Ferrari sale at the Fiorano track. The results were, to say the least, spectacular.
So successful was the sale that all but one car was sold – and I’m sure Rob Myers will be trying to post-sale that one as I write – at an average selling price of over one million dollars, the auction as a whole grossing $US46 million.
Top money went to the 1962 Ferrari 330 TRI/LM Testa Rossa , selling for Euro 6,875,000 (a figure that includes buyer’s premium, as all our prices do, and equates to around £4,708,904 or $US9,231,063). This was the Le Mans-winner of that year, had been driven by the ultra-successful pairing of American Phil Hill and Belgian Olivier Gendebien, and was the last in the famous Testa Rossa series of sports racers. Ticking all the boxes in a big way, the saleroom erupted when the hammer finally went down on the aggressive racing Ferrari driven, as were so many of the cars, ‘onto the block’ in the time-honoured North American fashion.
Ferrari President Luca di Montezemolo
The welcome scene for buyers on Sunday
ex-Lauda family 1973 Ferrari Dino 246 GT - Sold for Euro 132,000
1985 Ferrari 288 GTO - Sold for Euro 440,000
This was a colossal price, and was just one of several records for the marque made over just a few hours in the technical building at the Fiorano track, normally home to the Scuderia’s transporters and support vehicles.
Saturday had seen a visit from Michael Schumacher and extensive activities at the circuit, including a VIP reception, while prospective bidders on Sunday enjoyed the company of Ferrari’s President, Luca di Montezemolo, and Chief Executive Officer, Jean Todt, who were showing great interest in the fabulous selection of cars (and automobilia) on offer, all entries carrying full certification of authenticity via the company’s Classiche programme.
First on stage was the 1986 Ferrari 328 GTS, selling for Euro 44,000, followed by the 1963 Ferrari 250 GTE (Euro 143,000) and ex-Lauda family 1973 Ferrari Dino 246 GT (Euro 132,000). These were strong figures for nice cars, albeit ones of a type available from dealers worldwide.
The pace hotted up with the arrival of the ex-Massa 2006 Ferrari 248 Formula 1 Grand Prix Car that sold for Euro 1,650,000, while the silver 1966 Ferrari 275 GTB/4, a running car that really needed a restoration, found a new buyer on market value for Euro 605,000 (£414,384/$US812,334). The strong money than started coming in as the red 1985 Ferrari 288 GTO we drove recently went for Euro 440,000 (estimate Euro 325,000 - 375,000) and the big sports racing 1970 Ferrari 512 S went for a top-estimate Euro 2,640,000.
1965 Ferrari 275 GTB - Sold for Euro 605,000
1966 Ferrari 275 GTS - Sold for Euro 423,500
Edsel Ford was in the saleroom to see his yellow 1971 Ferrari 365 GTS4 Daytona Spider sell for a storming Euro1,045,000 (Estimate Euro 575,000 - 725,000), while the first of the SWBs, a 1960 Ferrari 250 GT SWB Competizione, sold for Euro 2,090,000, the white and green car was on display part-completed, as the new owner will receive a totally restored car from Ferrari Classiche. The ‘Street’ SWB went for Euro 1,870,000.
Rob Myers, Max Girardo and the rest of the RM team weren’t letting the saleroom - still buzzing from the 330 TRI’s price - rest, because next lot up was an ideal Mille Miglia car (the sale was held the day after this year’s retrospective finished), the 1953 Ferrari 340 MM Competition Spyder, duly selling for Euro 2,310,000.
The yellow 1985 Ferrari 288 GTO Prototipo wowed onlookers for Euro 506,000 (Estimate Euro 400,000 - 450,000), and then both the 1967 Ferrari 365 California (Euro 715,000) and 1966 Ferrari Dino 206 SP (Euro 2,420,000) had experts reaching for their calculators, before the sale closed with another ‘big one’ the 1953 Ferrari 340/375 MM Berlinetta, resplendent in its Carrera Panamericana livery, sold for Euro 4,235,000 (that’s £2,900,685/$US5,686,335) against an estimate of Euro 2,800,000 - 3,200,000.
Prior to the motor cars the 70-odd pieces of automobilia garnered Euro 457,413, with only one lot unsold, and the 2005 Formula 1 Steering Wheel achieving Euro 63,250.
1966 Ferrari Dino 206 SP - Sold for Euro 2,420,000
2001 Ferrari 550 Sperimentale - Sold for Euro 165,000
A truly sensational sale, and one that for those used to understated ‘Old World’ auctions a real eye-opener - but an event that made for riveting viewing, with professionalism and showmanship in good measure.
RM are likely to be holding further sales in Europe this year; as an opener, they couldn’t have wished for more.
To see the full results, including approximate conversions to £Stg and $US, please CLICK HERE.
RM Auctions in association with Sotheby's
34-35 New Bond Street
London W1A 2AA