MONTEREY AUCTIONS 2019 - THE BEST OF THE REST

Rick Carey

Volume 44 Issue 20

Sep 28, 2019

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    DINO 246 GT, S/N 03656 (1972). Blue Dino with beige leather. Estimate $400,000 to $500,000. Recent restoration, 2- condition. Hammered sold at $336,364 plus commission of 11.49 percent = final price of $375,000. Cromodora alloy wheels, Michelin XWX tires, Becker Europa II AM-FM, power windows and antenna, Ansa exhaust, books, tool kit. Excellent paint and chrome, good lightly stretched upholstery, sharp crisp gauges. The engine compartment is like new. The chassis and underbody have been repainted assembled but are done well. FCA Platinum at Concorso Italiano in 2018. It is refreshing to see a Dino that isn’t red or yellow. This Dino was sold by RM here in Monterey in 2008 for $118,250, before its recent restoration, and it brought a deserved superior price recognizing its quality in this post-block transaction although the pre-sale estimate range is out of touch with reality. Lot # 137. Gooding & Company.

    DINO 246 GT, S/N 04970 (1972). Red with black leather. Estimate $475,000 to $550,000. Visually maintained, largely original, 3- condition. Hammered sold at $435,000 plus commission of 11.15 percent = final price of $483,500. Sony CD stereo, Borletti air conditioning, power windows, Campagnolo alloy wheels, Michelin tires, flared fenders and Daytona seats, tool roll, jack, books. Torn, seam-pulled upholstery. Old repaint cracked behind both quarter windows. Old window channels. Old undercoat in the wheel wells. Scratched and scraped engine compartment. 30,785 miles and one owner until 2014. Sold by Gooding & Company at Amelia in 2014 for $627,000, then by RM at Arizona in 2018 for $406,500, this is a charmingly original and well-preserved Dino. It brought a whopping great price here at Monterey even taking its limited ownership history and documented miles into account. The bidders looked past the crappy repaint and the torn original upholstery to see something that is ephemeral and unlikely to be found again, even in a “Chairs & Flares” Dino. Lot # 326. RM Sotheby’s.

    308 GT4, S/N 10746 (1975). Estimate $40,000 to $60,000. Not evaluated. Hammered sold at $35,000 plus commission of 12 percent = final price of $39,200. Lot # 129. Bonhams.

    308 GTB, S/N 22475 (1977). Argento Auteuil with black leather. Estimate $70,000 to $90,000. Unrestored original, 3- condition. Hammered sold at $45,000 plus commission of 12 percent = final price of $50,400. Alloy wheels, Michelin XWX tires, Borletti air conditioning, BMW multiband radio. Crazing paint everywhere. Cracked, worn original upholstery. One owner until last year, 15,545 miles. Stored since 1992 and mechanically freshened last year. Highly original but the repaint it desperately needs will obviate that. Originality frequently brings major premiums but that seems to have been lost with this 308 GTB’s result, instead taking a discount for the repaint it so obviously needs. There are probably more issues waiting to be discovered after sixteen years in storage, issues that have been anticipated along with the paint in this realistic result. Lot # 36. Bonhams.

    308 GTBi, VIN ZFFAA01A3A0033487 (1980). Estimate $80,000 to $100,000. Not evaluated. Hammered sold at $54,000 plus commission of 12 percent = final price of $60,480. Sold by RM at Amelia Island in 2006 for $50,600, then by Auctions America at Fort Lauderdale in 2015 for $84,700. Lot # 142. Bonhams.

    308 GTSi, VIN ZFFAA02AXC0038767 (1982). Red with black leather. Estimate $70,000 to $90,000. Not evaluated. Hammered sold at $66,000 plus commission of 12 percent = final price of $73,920. Lot # 3. Bonhams.

    288 GTO, VIN ZFFPA16B000055237 (1984). Rosso Corsa with black, red. Estimate $2.55 million to $2.8 million. Unrestored original, 3+ condition. Not sold at hammer bid of $2.35 million. ANSA sport exhaust, power windows, air conditioning, two-tone seats, MOMO leather-wrapped steering wheel, Toyo tires, Blaupunkt cassette stereo. The first GTO sold in Japan. Clear coating on the outer part of the wheels is coming loose. The paint is a bit tired. Lightly worn and faded seats. A Ferrari, especially a premier model like a 288 GTO, with 13,803 kilometers should really look better than this. It’s far from the world’s best example, but it does have desirable options. This car was here a year and 224 km ago, and hammered not sold at a $2.55M hammer bid. RM also sold it for $2.75M in Arizona in 2015 and for $2.585M at Amelia Island in 2016, but in Monterey 2019 it was another seven-figure Ferrari that struggled. Lot # 241. RM Sotheby’s.

    308 GTS QV, VIN ZFFUA13A0F0055969 (1985). Rosso Corsa with tan leather. Estimate $100,000 to $150,000. Not evaluated. Hammered sold at $125,000 plus commission of 12 percent = final price of $140,000. The first car offered from the low mileage  Ming Collection. 3,959 miles from new. Lot # 316. RM Sotheby’s.

    328 GTS, VIN ZFFXA20A7G0064385 (1986). White with tan leather. Estimate $90,000 to $110,000. Unrestored original, 2- condition. Hammered sold at $65,000 plus commission of 12 percent = final price of $72,800. Tools and books. A few rock chips on the front grille but none on the body paint. The driver’s seat shows very light wear. 8,930 claimed original miles. A very good 328 in unusual colors. 328 prices have been softening a little after peaking in 2016 but the seller, who bought the car in 2015, likely got more here than he or she paid for it. Despite being an original and well-preserved example, it brought no premium for that. Maybe the originality premium was offset by the discount for white. Lot # 108. Bonhams.

    F40, VIN ZFFGJ34B000079763 (1988). Rosso Corsa with red cloth. Estimate $1.2 million to $1.5 million. Unrestored original, 2- condition. Not sold at hammer bid of $1.1 million. Sport seats, 6-point belts, modular wheels, owner’s manual, pouch, dealer directory, service book. Preserved in a Japanese collection since the early 1990s. Clean and barely used but aged with only 4,500 km from new. Belt serviced since its acquisition three years ago. Sold here three years ago in 2016 for $1.15 million, the consignor optimistically hoped the F40 market had stabilized but the reported bid here, after tacking on the buyer’s premium, would have been full retail and the bidders kept that in mind with this offer. Lot # 173. Bonhams.

    F40, VIN ZFFMN34A5M0087568 (1991). Rosso Corsa with red cloth. Estimate $1.5 million to $1.8 million. Unrestored original, 2 condition. Hammered sold at $1.53 million plus commission of 10.33 percent = final price of $1.68 million.  Centerlock modular wheels, Pirelli P Zero tires, SF shields, air conditioning, power windows, U.S. delivery. Ming Collection. 1,707 miles and like new. This result is a serious premium for low miles and meticulous preservation, a 2016 price for an F40 that has existed in a time warp since at least then and one of few lots offered in Monterey to break into the auction companies’ pre-sale estimate range. Lot # 318. RM Sotheby’s.

    F355 SPIDER, VIN ZFFXR48A2V0107584 (1997). Rosso Corsa with tan leather. Estimate $125,000 to $150,000. Unrestored original, 2 condition. Hammered sold at $175,000 plus commission of 12 percent = final price of $196,000. P Zero tires, black calipers, climate control, power windows. From the Ming collection. Just 705 miles, so it has hardly ever been driven, but it was reportedly serviced regularly, which is important and expensive on a 355. Given the body style, the mileage and the shifter between the seats, it’s among the most desirable production 355s around. A shockingly expensive price, well over even RM’s ambitious $150,000 high estimate. Until an even lower-mile time-warp example comes out of hiding, however, the new owner can at least claim to have the world’s best F355 Spider. Lot # 317. RM Sotheby’s.

    355 F1 SPIDER, VIN ZFFXR48A7X0113089 (1999). Grigio Titanio with black leather. Estimate $80,000 to $100,000. Unrestored original, 2- condition. Hammered sold at $60,000 plus commission of 12 percent = final price of $67,200. 5-spoke alloy wheels, Bridgestone tires. Good paint with stone chips on the front fascia and a tiny scrape on the left front corner. 19,544 miles and looks like it. Lot # 43. Bonhams.

    360 MODENA, VIN ZFFYR51A5X0119025 (1999). Black with tan, black leather. Unrestored original, 2- condition. Not sold at hammer bid of $80,000. Black calipers, P Zero tires, Daytona-style seats. Represented with 19,880 miles and some service records but no other details. The window frames are peeling. Scratch on the left rear wheel. Lightly worn interior commensurate with the mileage. The paint is lightly faded and the headlight covers are a bit cloudy. The shifter between the seats makes this car a standout, but its condition is a little disappointing by Ferrari standards. An open-gate shifter can command a $50,000 premium on 360s, but this car’s condition and lack of history left quite a bit to be desired. The reported high bid, while not generous, was worth considering. Lot # S018.1. Mecum Auctions.

    CHALLENGE STRADALE, VIN ZFFDU57A740134741 (2004). Black with red, black Alcantara. Estimate $220,000 to $240,000. Unrestored original, 2- condition. Hammered sold at $195,000 plus commission of 12 percent = final price of $218,400. SF shields, black calipers, carbon discs, carbon fiber mirrors, engine cover and interior trim, Alpine stereo, power windows, climate control, 7-spoke alloy wheels, P Zero tires. Represented as less than 10,700 miles, one owner. Sand-pitted nose, swirled paint, lightly faded dashtop. Unusually “used” for a Challenge Stradale. The bidders picked up on the evidence of use and resisted the temptation to get overly enthusiastic but still paid a retail price. Lot # 311. RM Sotheby’s.

    F430 SPIDER, VIN ZFFEW59A760151053 (2006). Red. Not evaluated. Not sold at hammer bid of $150,000. Reported as a post-block sale at Mecum’s Indianapolis auction in 2018 at $198,000, then reported sold here a year ago for $187,000. The trend line is clear. Lot # S176. Mecum Auctions.

    F430 CHALLENGE, VIN ZFFEX63X000152244 (2007). Red with red cloth. Estimate $100,000 to $130,000. Competition car, original as-raced, 3 condition. Hammered sold at $65,000 plus commission of 12 percent = final price of $72,800. SF shields, carbon brakes, Hoosier slicks, outside quick fill gas filler, fire system, digital display, carbon fiber wing, centerlock alloy wheels, two seats, roll cage. Sand-pitted windshield. Sound paint and interior. A tidy used race car. Lot # 32. Gooding & Company.

    430 SCUDERIA, VIN ZFFKW64A380161467 (2008). Black with black Alcantara. Estimate $180,000 to $220,000. Unrestored original, 2- condition. Hammered sold at $175,000 plus commission of 12 percent = final price of $196,000. SF shields, clear engine cover, yellow calipers and tach, carbon fiber Manettino steering wheel, CD stereo with Bluetooth and navigation, fire extinguisher, power windows, air conditioning. Two owners from new and represented with 6,200 miles. Looks like new except for a few nose chips and polishing swirl. Offered by RM at the Petersen Museum in Los Angeles eight months ago where it was reported bid to $180,000 against an estimate of $200-220,000. The consignor accepted the market’s judgment with this result. Lot # 346. RM Sotheby’s.

    SCUDERIA SPIDER 16M, VIN ZFFKW66A690167276 (2009). Red with black Alcantara, cloth inserts. Estimate $270,000 to $320,000. Unrestored original, 2- condition. Not sold at hammer bid of $250,000. Anthracite alloy wheels, P Zero tires, red calipers, SF shields,  carbon fiber steering wheel and interior trim, Sirius XM stereo, carbon brakes. The headlight covers are crazing. A clean used car with no obvious damage. Lot # 107. Bonhams.

    458 ITALIA, VIN ZFF67NFA8B0180805 (2011). Red with beige leather. Estimate $160,000 to $190,000. Unrestored original, 2 condition. Hammered sold at $145,000 plus commission of 12 percent = final price of $162,400. SF shields, yellow calipers, PZero tires, yellow tach. 5,600 miles, recent service and unblemished with negligible driver’s seat wear. Lot # 34. Bonhams.

    458 SPIDER, VIN ZFF68NHA8D0193700 (2013). Red with black leather, red Alcantara inserts. Estimate $225,000 to $275,000. Unrestored original, 2 condition. Hammered sold at $320,000 plus commission of 11.56 percent = final price of $357,000. Anthracite 5-spoke alloy wheels, red calipers, carbon brakes, carbon fiber interior trim rear fascia, engine panels and exhaust pipe surrounds, Pilot Super Sport tires, built in radar detector, lowered, Akrapovic switchable exhaust. Ordered new by the Ming Collection and preserved in pristine condition among the collection’s other low mileage Ferraris. It has 409 miles and is like new, if not better. This is an epochal result, not only having a huge premium for originality but also breeching RM Sotheby’s pre-sale high estimate, a feat almost unparalleled at the Monterey auctions this year. It may reflect the many custom features, an attribute that seems at odds with its low mileage and obsessive preservation. Lot # 321. RM Sotheby’s.

    SERGIO SPIDER, VIN ZFF75VFA5E0205934 (2014). Silver over black with light cream with red accents. Estimate $2.5 million to $3 million. Older restoration, 2 condition. Not sold at hammer bid of $1.9 million. Carbon ceramic vented disc brakes, independent suspension with special magnetorheological dampers. This rare car has some chip marks to the front spoiler lip edge and discoloration on the tailpipes but is otherwise perfection. The interior is unmarked. Easy fixes to a perfect car. A rare model, one of only six made to celebrate Sergio Pininfarina. With only a couple of minor imperfections that are easily fixed, why didn’t the seller do those easy jobs? Lot # 58. Gooding & Company.

    488 GTB, VIN ZFF79ALA0J0232129 (2018). Pearl White with red cloth. Estimate $375,000 to $450,000. Unrestored original, 2 condition. Hammered sold at $385,000 plus commission of 11.30 percent = final price of $428,500. 70th Anniversary livery #23 “Lucybelle” after the 250 TR S/N 0732 driven by Ed Hugus at the 1958 Le Mans 24 Hours. 155 miles and like new. This result represents a serious premium for the low miles and distinctive 70th Anniversary livery. The livery is unusually attractive, which isn’t the case with some. Lot # 370. RM Sotheby’s.

    488 GTB, VIN ZFF79ALA1J235850 (2018). Not evaluated. Hammered sold at $230,000 plus commission of 10 percent = final price of $253,000. Lot # S651. Russo and Steele.

COMPETITION

    312 T F1, S/N 022 (1975). Rosso Corsa. Estimate $6 million to  $8 million. Competition restoration, 2 condition. Hammered sold at $5.45 million plus commission of 10.09 percent = final price of $6 million. Ex-Niki Lauda. 4-spoke modular wheels with gold spiders and polished rims, Avon tires. One of four Niki Lauda-driven winning Ferrari F1 cars, first at the BRDC International Trophy and French GP, second at Zandvoort and third at the Nürburgring, also driven by Clay Regazzoni. Restored in the 2010s. These 312 Ts with their canard front wings, tall airbox intakes and drivers in bucket helmets are immensely appealing. These are analog race cars that can be run in historic events without the intense support of a team of Corse Clienti specialists (although doing so with infinite care). This is a curve-setting result, rumored to have been sold to an experienced car trader with F1 history. Lot # 31. Gooding & Company.