Mecum Kissimmee Jan 6-16, 2022
Volume 47 Issue 03
Feb 6, 2022
Rick Carey reviews selected Ferraris from Mecum Kissimmee auction.
Mecum Sets An Auction Record Without Much Ferrari Help
Mecum Auctions shifted $213 million in vehicles during its 10-day auction at Kissimmee, Florida, January 6-16. That is an absolute collector car auction record and 20% plus more than the next highest sale. Among the 3,176 vehicles offered (excluding motorcycles and boats) there were only sixteen Ferraris.
All but one of the Ferraris sold, an exceptional 93.75% sale rate and better than the overall sale rate for vehicles of 85%. Ferraris brought a total of $7,165,950, 3.3 % of the total changing hands at Kissimmee. Only one lot, F40 S/N 94528, sold for over $1 million, but it was so far over the top at $2.75 million, that a million dollars, give or take, misses the point.
Prices were uniformly strong, especially among the expensive, star cars, and it seemed like at the upper end there was boundless money and a willingness to part with it that bordered on irrationality.
After a week back home everyone heads to Arizona’s Valley of the Sun for the collector car commerce carnival known as Scottsdale. It will be a chance to test the Kissimmee results to see if they are bellwether or outlier.
There will be many more Ferraris in Scottsdale.
365 GTB/4, S/N 15443 (1972). Rosso Corsa with beige leather, black bars. Cosmetic restoration, 3+ condition. Hammered sold at $550,000 plus commission of 10 percent = final price of $605,000. Veglia air conditioning, Marelli ignition modules, Borrani wire wheels, Michelin XWX tires. The smog pump is not connected. Good older repaint with masking misses along the windshield posts and small cracks under the top coat at the hood corners. Good hood struts. The interior is sound but shows age and use. The underbody and chassis are aged and used appropriate to the 42,188 miles. A driver quality Daytona. At Mecum’s Kissimmee and Indy auctions last year, this Daytona was reported bid to $500,000 without selling. It had a better fate today and changed hands at a price that is, for its age and condition, generous. It is a result that is familiar at Kissimmee 2022 where prices were, in general, optimistic and bidders tended to overlook condition in favor of image. Lot # S234.
TESTAROSSA, VIN ZFFSG17A7L0083697 (1990). Rosso Corsa with beige leather. Unrestored original, 3+ condition. Hammered sold at $135,000 plus commission of 10 percent = final price of $148,500. MOMO Corse steering wheel, modular alloy wheels, Bridgestone tires, stick-on SF shields, red calipers, polished shift knob, Tubi exhaust. Good paint but the interior is more worn than indicated by the claimed 18,049 miles. Orderly engine compartment showing its age. The condition is not as good as it should have been for the claimed miles but the bidders appropriately balanced condition and miles in this result. Lot # L285.
SUPERAMERICA F1, VIN ZFFGT61AX50143109 (2005). Rosso Corsa with beige leather, black inserts. Original, with major mechanical repairs, 2 condition. Hammered sold at $275,000 plus commission of 10 percent = final price of $302,500. GTC package, red calipers, Bridgestone tires, carbon ceramic brakes, Daytona-style seats, CD changer, SF shields. Illinois salvage title, only 300 miles. Resurrected by F40 Motorsports. Looks like new after only $12,000 in repairs. There is no visible evidence of repairs which the consignor stated were limited to the right front wheel and fender. This is something of a bargain, a last-minute addition to the Kissimmee docket that was represented honestly and sold well under the market. If it is as good as the consignor says it is (and he is a reliable and experienced source) it should be very satisfying both on the road and in the pocketbook. Lot # S85.1.
812 GTS, VIN ZFF97CMA8M0263996 (2021). Extracampionario yellow with black leather, yellow stitching. Estimate $800,000 to $900,000. Unrestored original, 2 condition. Hammered sold at $700,000 plus commission of 10 percent = final price of $770,000. Stitched yellow Cavallino, Daytona-style seats, Manettino steering wheel, dual-zone climate control, Infotelematic digital audio system, passenger display, carbon fiber inner door handle, driver zone+LEDs, central bridge, kick sill and dashboard inserts, yellow safety belts, dreamline on bridge, dedication plate in silver, SSC5-side slip control 5 and E-diff 3, F1-trac with SSC integration, PCV-virtual short wheelbase 2.0, Magnetorheological suspension, front and rear parking sensors, carbon ceramic brakes with black calipers, black 10-spoke wheels with yellow pinstripe, Michelin Pilot Sport tires. 138 miles and like new. What this 812 GTS cost new but it’s a sure thing that all those options and accessories added up on their own to enough to buy a new C8 Corvette with similar bells and whistles. Lot # S146.1.
308 GTSi, VIN ZFFAA02A6C0040385 (1982). Fly yellow with black leather. Estimate $70,000 to $90,000. Cosmetic restoration, 2- condition. Hammered sold at $82,000 plus commission of 10 percent = final price of $90,200. Borletti air conditioning, TRX tires, Blaupunkt CD stereo, tools, books and service history. Good repaint and interior. Clear, bright gauges. Orderly engine compartment. Hazy wheel center caps. Stated to be 19,713 miles from new and looks like it. Fly yellow is always an attraction, particularly among a sea of 308s in various shades of red. The bidders (as well as the flies) were drawn to it and paid a seriously generous price to take it home. Lot # T262.
328 GTS, VIN ZFFXA20A5H0066699 (1987). Rosso Corsa with beige leather. Unrestored original, 2 condition. Hammered sold at $145,000 plus commission of 10 percent = final price of $159,500. Michelin Pilot Sport tires, Denon cassette stereo, air conditioning. Good original paint and barely used upholstery. Represented as 9,685 miles and looks like it. This transaction has a serious component for low miles and well-maintained condition. It should be satisfying to own and even drive but is probably better tucked away to bring out for shows while preserving its originality. There are only about 300 miles of driving left before it rolls over to five digits and the preservation premium begins to wear out. Lot # F092.
348ts, VIN ZFFFG36A5L0087357 (1990). Red with tan leather. Unrestored original, 2- condition. Hammered sold at $97,500 plus commission of 10 percent = final price of $107,250. Well documented, tool kit, two sets of keys and shop manual. Unrestored, factory orange peel. Stretched driver’s seat cushion and scuffed bolster. Belt service in 2014. When sold at Gooding Scottsdale two years ago this 348ts showed 4,643 miles. Today the odometer reads 4,711 and to all intents and purposes in the same condition but the 2020 sale was for $72,800, $34,450 less than it brought today. Ferrari Market Letter has 348ts for mid-five figures and why this one, even with so few miles, should be worth almost twice as much is incomprehensible. Lot # W142.1.
F40, VIN ZFFGJ34B000094528 (1992). Rossa Corsa with red cloth. Estimate $2.8 million to $3.2 million. Visually maintained, largely original, 2- condition. Hammered sold at $2.5 million plus commission of 10 percent = final price of $2.75 million. Tubi exhaust with the factory exhaust included. New fuel cell bladders in 2018, fresh annual service, tools, books and car cover. 14,053 km and exceptionally maintained. Excellent repaint. Unblemished upholstery. Mellowed engine compartment in good condition. Not fluffed up, but consistently maintained and cared for. F40s are on a tear but this result leads the pack and anticipates inflation that may not arrive. It is very optimistic. Lot # S150.
355 F1 SPIDER, VIN ZFFXR48A7X0114257 (1999). Black with tan leather. Unrestored original, 3- condition. Hammered sold at $100,000 plus commission of 10 percent = final price of $110,000. 5-spoke alloy wheels, Bridgestone tires, cassette stereo, air conditioning, black calipers. Chipguarded nose. Scuffed original paint with some stone chips. Sound but worn original upholstery, badly worn on the driver’s seat back bolster. Scruffy, used engine compartment. Tight fitting lightly soiled top. A used car with 26,073 miles. An optimistic price for a hard used 355 F1 Spider, like so many others here at Mecum Kissimmee. There was money to burn among the bidders and some of it was burned on this 355 F1. Lot # S271.
488 SPIDER, VIN ZFF80AMA3H0222041 (2016). Grigio Silverstone with rosso leather. Estimate $300,000 to $350,000. Unrestored original, 2 condition. Hammered sold at $300,000 plus commission of 10 percent = final price of $330,000. Loaded with options: Grigio Chiaro special colored stitching, carbon fiber driver zone plus LEDs, carbon fiber central bridge, white rev counter, premium hi-fi system, rosso seat belts, Daytona-style full electric seats, Cavallino stitched on headrest, nero/rosso floor mats with 488 Spider logo, adaptive front light system, parking camera, front and rear parking sensors, sport exhaust system, Brembo carbon ceramic brakes with rosso calipers, 20-inch matte black wheels, Pirelli PZero tires, Ferrari duffle bag. 611 miles and like new. Priced like a new car because it is. Lot # S116.
SF90 STRADALE, VIN ZFF95NLA9M0264321 (2021). Extracampionario white with red leather. Estimate $950,000 to $1.1 million. Unrestored original, 2 condition. Hammered sold at $850,000 plus commission of 10 percent = final price of $935,000. Scuderia shields, Daytona-style seats, stitched white Cavallino, eManettino steering wheel, heads up display, dual zone climate control, carbon fiber driver zone + LEDs, upper tunnel trim and dashboard inserts, F1 traction control system and E-diff 3,ESSC electronic side slip angle control, Magnetorheological suspension, Ferrari dynamic enhancer 2.0, carbon fiber side air splitter, engine cover, rear diffuser, under door cover and exterior sill kick, full LED headlights and LED tail lights, AFS system America, Brembo carbon ceramic brakes with red brake calipers and ABS/EBD energy recovery, silver 5-spoke wheels with red Prancing Horse center caps. 57 miles and like new. About $507,000 new without including the laundry list of options. This is the price of exclusivity. Lot # S147.
F8 SPIDER, VIN ZFF93LMA8M0267087 (2021). Extracampionario white with red leather. Unrestored original, 2 condition. Hammered sold at $600,000 plus commission of 10 percent = final price of $660,000. Scuderia shields, red interior with white stitching, Daytona-style leather seats, colored upper dashboard, carbon fiber inner door handle, driver zone+LEDs, central bridge, kick sill and dashboard inserts, colored safety belts, F1 systems mode controller, multimedia system with Bluetooth and DAB, dedication plate in silver, S-duct, FDE+ Ferrari dynamic enhancer, Magnetorheological suspension, carbon fiber exterior sill kick, full LED headlights and turn signals, AFS system, rear parking sensors, Brembo carbon ceramic brakes with red calipers, silver 10-spoke wheels with red pinstriping, Michelin Pilot Super Sport tires. 66 miles and like new. Mattress mogul Michael Fux, the consignor of three late model Ferraris sold one after another during Kissimmee’s Saturday prime time, obviously loves buying cars even though he has so many that none of them get driven more than a few miles before they’re taken to Kissimmee and sold on to make room in the barn for the next round of deliveries from Ferrari, McLaren, Rolls-Royce or Bugatti. Considering that there were two late model F8 Spiders in FML last month both priced under $500,000, he and Mecum do a good job of making this strategy work. Lot # S148.