AUCTIONS, AUCTIONS, AUCTIONS
Volume 45 Issue 17
Aug 15, 2020
The Mecum auction had the most significant sales of all the auctions presented in this issue. There were two collections with some exceptional Ferraris.
Mecum Auction - Indy 2020 - July 10-18
The Mecum auction had the most significant sales of all the auctions presented in this issue. There were two collections with some exceptional Ferraris.
Most were low mileage, virtually brand-new cars. Many of the cars that sold will never be driven or used. They will forever be museum pieces.
Several other Ferraris had unrealistic estimates that supposedly made it to and even beyond the low estimate and did not sell. This makes the results of the sale cars somewhat suspect.
While the cars that sold were high level cars and the prices reported were exceptional, the inconsistencies should be noted.
275 GTS, S/N 7427 (1965). Black with red interior. Estimate $1.75 million to $2 million. Formerly part of the David Letterman Collection, previously owned by Jon A. Shirley. Chinetti Motors installed factory production auxiliary hardtop. Platinum winner. Classiche certified. Books and tools. Lot S143. Sold for $1.43 million.
275 GTB/4, S/N 10717 (1967). Grigio Mahmoud with tan interior. Estimate $3.25 million to $3.5 million. Purchased by Ferrari mechanic Terry Myr in 1970. Original and unrestored with one repaint in the early 1970s. Original owner’s manuals, factory tool roll, wheel chock and bill of sale from 1970. Classiche certified. Lot S166. Not sold at $2.9 million.
365 GTB/4 BERLINETTA, S/N 14135 (1971). Rosso Corsa with black interior. Estimate $900,000 to $1 million. Original paint and interior. Classiche certified. Platinum winner. 13,238 miles. Books and tools. Lot S144. Sold for $715,000.
512 BBi, ZFFJA09B000050285 (1984). Rosso Corsa with tan interior. Estimate $225,000 to $250,000. 13,482 kilometers. Same owner for last 10 years. Recent service with records. Lot S167. Not sold at $250,000.
512 BBi, VIN ZFFJA09B000052297 (1984). Rosso Corsa with tan interior. Estimate $400,000 to $500,000. 8,000 miles. Platinum winner. Two-owners. Full set of luggage. Books, tools and documentation. Lot S145. Sold for $374,000.
TESTAROSSA, VIN ZFFSG17A7K0082581 (1989). Rosso Corsa with tan interior. Estimate $150,000 to $200,000. Built in July 1989. 105 miles. Five-piece luggage set. Tool kit and books. Purchase receipts and documents. Richard Welkowitz Collection. Lot S115. Sold for $231,000.
550 MARANELLO, VIN ZFFZR49A6X0114645 (1999). Rosso Corsa with tan interior. Estimate $100,000 to $125,000. 567 miles. Silver-painted, 18-inch, 5-spoke alloy wheels with Bridgestone tires, black calipers. Daytona seats. Lot S120. Sold for $198,000.
599 GTB, VIN ZFFFC60A970152366 (2007). Rosso Corsa with tan interior. Estimate $350,000 to $400,000. 1 of 30 6-speed manual transmission 599 GTB. 4,647 miles. Carbon-ceramic disc brakes with red calipers. Daytona seats and yellow tachometer. Lot S116. Sold for $429,000.
599 GTO, VIN ZFF70RCA5B0179423 (2011). Rosso Corsa with tan and black interior. Estimate $700,000 to $800,00. Carbon ceramic disc brakes with red calipers. Yellow tachometer. 168 miles. Lot S117. Sold for $698,500.
F12berlinetta, VIN ZFF74UFA1F0207310 (2015). Rosso Corsa with tan interior. Estimate $250,000 to $300,000. 78 miles. Daytona seats with black inserts. Red tachometer. Carbon-ceramic disc brakes with red calipers, 10-spoke alloy wheels, Pirelli P Zero tires. Richard Welkowitz Collection. Lot S118. Sold for $264,000.
F430 SPIDER, VIN ZFFEW59A970152545 (2007). Giallo Modena with special order tan natural Alligator interior by Schedoni. Estimate $150,000 to $200,000. 441 miles. Shields, carbon ceramic brakes, 6-speed manual transmission, Daytona seats, and yellow tachometer. Lot S122. Sold for $319,000.
Artcurial Sale Monaco -- July 21, 2020
The Artcurial Sale was at the other end of the scale. Most of the Ferraris were average or just above average.
European cars typically have more mileage because Europeans tend to enjoy their cars more than Americans. Maybe we should learn something from them.
There were many no-sale cars and unfortunately, I didn’t get to the website in time to get the high bid amounts. The general assumption is if the bid makes it to the low estimate it will be sold.
High estimate ranges can mean the seller is reaching or has unrealistic expectations. I believe the prices realized, translated into dollars, would be comparable to equal value of Ferraris in America.
250 GT ELLENA HIGH ROOF, S/N 0727 GT (1957). Black with copper colored roof, copper colored leather to match. Estimate €500,000 to €700,000. Recent full restoration. Comprehensive photographic file documenting the project. The body was stripped and repainted. The interior was restored by Luppi. Wire wheels refurbished by Ruote Borrani and fitted with new Pirelli tires. As was common with models of this era, the engine was replaced with S/N 1483 GT. According to historian Andreas Birner, the original engine for 0727 GT still exists and is in a 250 GT Europa. During restoration all mechanical elements were completely dismantled and refurbished. The electrical circuit and all the instruments were also refurbished. Lot 658. Not sold.
330 GTC, S/N 9661 (1967). Azzuro metallizzato with black leather. Estimate €600,000 to €800,000. Delivered new on March 20, 1967 in Milan. It then passed in December 1967 and September 1968 through the hands of two other Milanese. In 1979, the car crosses the Atlantic for Wisconsin where it will lose its original color combination of Verde Pino with orange leather for a classic red with black leather. It was sold to a Swiss in January 2014. He decides to have it restored. Completely dismantled and rebuilt in both mechanics and bodywork. Ferrari certification in September 2015. 167 km since restoration. Lot 657. Not sold.
TESTAROSSA, VIN ZFFTA17S000066275 (1986). Red with light beige leather. Estimate €115,000 to €135,000. 57,350 km and in a good condition. Known as “monospecchio” because it comes with a single exterior mirror. For convenience, the buyer asked the dealer to install a second mirror. With service books. Sold new to a Swiss resident in February 1987. Currently owned by a major collector based on the Côte d‘Azur. Two years ago, it underwent an overhaul and complete distribution. Lot 624. Sold for €131,120.
456M GT, VIN ZFFWP44B000121706 (2000). Grigio Alloy with tan leather. Estimate €60,000 to €80,000. Sold new in July 2001 to Luxembourg. Its current owner acquired it from a professional. 28,994 km. Major overhaul of 30,000 km was carried out in March 2019, including the replacement of the timing belt, as confirmed by the stamped maintenance book. Accompanied by its notebooks, tool kit, and original Ferrari flashlight. Lot 655. Sold for €72,712.
599 GTB FIORANO F1, VIN ZFFFD60B000158058 (2007). Grigio Silverstone with beige leather. Estimate €90,000 to €120,000. Still in the hands of its first owner, Claudio Ranieri, a famous football coach. 16,600 km. Accompanied by notebooks. Lot 653. Sold for €97,744.
599 GTB FIORANO F1, VIN ZFFFD60B000177523 (2010). Nero Daytona with beige leather, carbon fiber and Alcantara interior. Estimate €160,000 to €190,000. Delivered new in Rome on July 6, 2011. HGTE. Slightly higher than 6,000 km. Recent service. 20-inch rims fitted with four new tires, and battery. Delivered with its duplicate keys, all manuals and notebook maintenance as well as protective cover. Lot 692. Not sold.
GTC4LUSSO, VIN ZFF82WNB000223743 (2017). White with black leather. Estimate €250,000 to €300,000. 320 km. Acquired from Sweden. It is kept in its private museum at a permanent temperature of 22 ° C. Panoramic roof and Daytona seats with ventilation. Original booklets. Lot 686. Not sold.
308 GT4, S/N 09378 (1974). Red with black interior. Estimate €50,000 to €70,000. Delivered new in 1975 in Belgium. Acquired by its current owner, an enthusiast who loves rallies, during an auction in Paris in 2010. The car has since undergone extensive mechanical and technical preparation in order to obtain a technical passport issued by the FFSA in 2014. The V8 was revised and features competition parts, ranging from forged pistons to special camshafts. The gearbox was also modified. Roll bar, harness, automatic fire extinguisher, hydraulic handbrake, and other racing equipment completed the preparation of this car. It has taken part in historic rallies such as the Tour de Corse and the Sainte Baume. Sold with a large number of spare parts, including an additional bare body and seven Cromodora rims. Lot 651. Sold for €51,256.
F40, VIN ZFFGJ34B000084997 (1990). Red with red and black interior. Estimate €900,000 to €1 million. Sold new in June 1990. After a second Portuguese owner, it was bought in 2009 by an engineer collector. 30,660 km. The owner changed the alternator for a more modern element and replaced aviation-type fuel tanks with aluminum elements. The original components may be replaced during a future overhaul. The maintenance book shows the revisions carried out in 2000 and 2002 in Spain. Service in 2009 indicates a replacement of the timing belts and pulleys. Maintenance book, technical manual, original tool kit and a set of Schedoni suitcases in beige leather. Lot 683. Sold for €959,560.
360 SPIDER F1, VIN ZFFYT53B000125144 (2001). Argento Nürburgring with blue leather. Estimate €50,000 to €80,000. Issued new on July 28, 2001 and with the same family since delivery. 44,750 km. Recent service, the timing belts were replaced, as well as the rocker cover seals and the water pump. Air conditioning was also recharged and four tires changed, rims repainted. Only a few interior trims have small flaws, like a sticky surface. All notebooks, tool kit and accessories. Lot 682. Sold for €63,176.
SCUDERIA SPIDER 16M, VIN ZFFKZ66B000168120 (2009). White with red Alcantara and black fabric seats. Estimate €300,000 to €350,000. Acquired new in Sweden. 2,070 km. Red brake calipers. Carbon inserts. Original manuals and a copy of the purchase invoice. It is presented in like new condition. Lot 687. Not sold.
CALIFORNIA T 2+2, VIN ZFF77XJB000207835 (2015). Bianco Avus with Tortora leather. Estimate €130,000 to €160,000. Sold new to Monaco in January 2015. 6,100 km. 20-inch diamond-shaped forged sport rims, wing badges, Magneride dual-mode suspension, and heat-insulating windshield. Accompanied by all documents and accessories. Tool shelf, set of two keys, manuals and notebooks as well as Ferrari protective cover. Lot 691. Sold for €145,424.
488 PISTA, VIN ZFF90HMB000242293 (2019). Blu America with natural leather. Estimate €310,000 to €360,000. Delivered new in Sweden. Natural leather seats with body-colored longitudinal strip, carpet and dashboard trim in beige Alcantara. Carbon parts, titanium exhaust pipes, a Bluetooth system and Apple CarPlay and other options available from the Tailor Made catalog. 140 km. Lot 688. Not sold.
488 PISTA SPIDER, VIN ZFF91HMB000250090 (2019). Verde Green Jewel with burgundy interior. Estimate €500,000 to €600,000. Delivered to the current owner in Sweden. It was ordered with 39 options including a complete Alcantara interior, hi-fi system, carbon additions to various parts of the bodywork, notably the fuel door. 25 km since leaving the factory. It will be delivered with its original documents and invoice. Lot 684. Not sold.
RM Sotheby’s Open Roads NA -- July 23-30, 2020
RM Sotheby’s Open Roads North America auction had nine Ferraris. Three Testarossas, a couple of Mondial Cabriolets, a 612 Scaglietti and one each: 412, 308 GTS and 348 Spider.
Once again, I didn’t get into the auction in time to gather the estimate ranges, so I did not include any of the no sale cars. Without that piece of information there is no reference point to determine if the seller’s expectation was too high or if the buyers were not spending.
The three sale Ferraris are presented here.
The note on the 308 GTS is interesting. The chassis number does not match the title, dataplate or column. Typically, the non-removable chassis stamping rules when it comes to chassis number. Mistake or not, only Ferrari could straighten it out. It takes a bold owner to purchase this potential nightmare.
TESTAROSSA, VIN ZFFTA17B000057389 (1985). Rosso Corsa with beige and brown interior. Early single-mirror “monospecchio”. Delivered new to Amman, Jordan, it remained in that country only a short time before being imported to the United States. In 1988 it was purchased by the consigning family; throughout this long-term ownership, it is said to have been consistently maintained. As documented by invoices the car had a major service in 2020. The installation of new timing belts, a new clutch, a new main seal, a rebuilt water pump, and more. Exterior paint, believed to be original, exhibits some rock chips and other minor wear typical for a car of this mileage. 58,579 km, or 36,400 miles. New dashboard and well-preserved interior. Currently fitted with a Tubi Style exhaust, the original exhaust is included. Service history from the year 2000 onward, owner’s manuals, original warranty card, tools, spare keys, jack and spare tire. Lot 196. Sold for $84,000.
308 GTS, S/N 24701 (1978). Rosso chiaro with black and tan interior. Sold new through Continental Motors of Illinois. Exterior features Vitaloni “California” mirrors and Cromodora wheels. Interior features a MOMO “Prototipo” steering wheel and Blaupunkt radio with cassette. Offered with manuals with pouch, tool roll, flashlight, and jack. 10,956 miles. Addendum from RM: Please note that in the three locations where the chassis number is found, it has been discovered that the steering column number and door sill pate number match one another, but the number stamped into the rear frame interestingly has two digits reversed. Although unconfirmed by the factory, it is strongly believed that this is merely attributable to a typographical error in period and therefore is believed to not put the car’s purity in question. Lot 137. Sold for $33,000.
MONDIAL T CABRIOLET, VIN ZFFFC33A9K0082550 (1989). Black with crème interior. Sold new in 1989 to Jon Shirley, who at the time was Microsoft’s President and Chief Operating Officer. Mr. Shirley would keep the car for six years, covering 8,000 miles. The next owner would go on to enjoy the car for 19 years. It was subsequently purchased in 2014 by the next owner, who negotiated an engine-out service be completed as part of the deal. He would enjoy it until 2016 when it was purchased by the current owner. 34,856 miles. Black convertible top. A crème top boot cover. Manuals with leather pouch, tool kit, and select service records. Lot 140. Sold for $34,100.
Gooding & Co. Geared Online -- August 3-7, 2020
The Gooding auction featured a variety of high quality and average Ferraris.
Buyers have been selective in acquisitions adding to their stable the best or at least better Ferraris while average, mediocre cars have continued to be either no sale or sold for prices that appear to very reasonable.
This would make it a good time to buy a driver or less than perfect car if sellers did not have an inflated view of value. Many of these Ferraris are starting to approach first time buyer territory and may help new owners feel like Ferraris could be affordable.
Of course, it takes a lot of money and time to bring a mediocre car up to Platinum standards but that shouldn’t prevent the fun factor of driving and enjoying a Ferrari as they were meant to be.
275 GTB, S/N 8921 (1966). Bianco with tan leather. Estimate $2.75 million to $3.25 million. Completed in September 1966, sold to its first owner in Genova, Italy. It remained in Italy through 1969, when it was sold to Luigi Chinetti Motors. 81,000 km (50,000 miles). Service records dating back to 1969, when it was still being serviced by Luigi Chinetti Motors. Original, unrestored condition, retaining patinated beige leather upholstery and much of its distinctive Bianco paint. Marchal driving lamps and chrome prancing horse, center console is fitted with a Blaupunkt radio and a Jaeger chronograph. Two sets of wheels: Campagnolo alloys and Borrani wires. Original owner’s manual and spare parts list and literature. Documentation file includes ownership and registration records dating back to 1969, copies of ACI registration records, and history report by Marcel Massini. Lot 056. Sold for $3.08 million.
F50, VIN ZFFTG46A6S0104755 (1995). Targa 095/349. Argento Nürburgring with black leather, red cloth seat centers. Estimate $2.2 million to $2.6 million. The first owner was a Texas resident in 1996. By 2002, the subsequent owner was searching for a US-spec F50 painted in Argento Nürburgring. Failing to find the desired color combination, he purchased this F50 from Ferrari of Houston. Maintaining his desire to have a silver F50, he asked the selling dealer to repaint the car. Recent comprehensive service in November 2019. During the service, an attempt was made to repair the F50’s inoperable fuel-level gauge, however a fuel-level sender was not available from Ferrari. Accompanied by tools, manuals, luggage, hardtop storage box, car and seat covers, as well as various service and repair invoices. 10,125 miles. Lot 070. Sold for $2.13 million.
ENZO FERRARI, VIN ZFFCW56AX30134948 (2003). Argento Nürburgring with tan leather. Estimate $2.2 million to $2.6 million. Purchased new from Ferrari of Houston. In the history file is correspondence that documents the buyer’s wish for an Argento Nürburgring with tan leather seats, but an otherwise black interior. 7,100 miles and single-family ownership since new. Records attest to maintenance including June 2020 engine-out service, new tires and battery, and rebuilt air-conditioning compressor. Additionally, during this service, Classiche certification was applied for and is pending approval. It should be noted that the rear spoiler actuator system is currently inoperable. Accompanied by tool kit, wheel socket, luggage, car cover, manual, window sticker, and photos of the car being picked up in Houston. Lot 047. Sold for 2.36 million.
328 GTB, VIN ZFFXA19A2J0077338 (1988). Rosso Corsa with beige leather. Estimate $100,000 to $140,000. 23,695 miles. Highly original, and in 2018 at the Palm Beach Cavallino Classic, it won a Platinum Award. When acquired by the consignor in 2017, it had recently received a major service by Brian Crall of Hill Country Ferrari Service. Lot 053. Sold for $148,500.
F40, VIN ZFFMN34A4N0090446 (1992). Red with red seats, black interior. Estimate: $1.25 million to $1.5 million. Purchased new through Lake Forest Sportscars in Illinois,and has been in the same family since. 4,600 miles. It has had consistent care and is to retain its original finishes. March 2020 the F40 received a major service, including timing belts. In preparation for Classiche certification, additional attention was paid to the fuel system, including new pumps, pressure regulator, and distributor sensor. Original monogrammed Schedoni luggage and leather plaque, certificate of origin, window sticker, owner’s manual, tools, and car cover. Included are service records, purchase paperwork, and Classiche Red Book. Lot 039. Sold for 1.63 million.