Ferraris at the Monterey Auctions
Volume 48 Issue 19
Oct 7, 2023
Rick Carey reviews the auctions from Monterey. Is the market up? Or down? Check out the results and you decide.
There were 137 Ferraris in the five Monterey auctions this year, 11.1% of the total of 1,235 lots offered. 110 of them sold, an 80.3% sell-through and 13% of the total of 846 lots sold.
Ferraris accounted for $131,875,111 in total, 31% of the week’s auction total of $425,433,525 changing hands.
The big news was Bonhams 412P S/N 0854 (known as 330 P3/4 when campaigned by the Scuderia) that sold on just two bids for $30,255,000.
RM’s comparable heavy hitter, 250 LM S/N 6053, was bid to $17 million but stayed with its consignor.
Gooding’s star car, unrestored 250 GT SWB Berlinetta S/N 3507 GT, found a new home at $9,465,000.
Broad Arrow’s top Ferrari was F50 S/N 103495 that sold for $4,240,000 while Mecum united 275 GTB/6C alloy berlinetta S/N 08157 with a new owner for $3,410,000.
FML has already covered RM Sotheby’s sale of the Walt Medlin Ferraris. Mecum offered another significant collection. Styled “Veloce, Schnell & Fast Sportscars”, a check of histories at Barchetta.cc showed the Ferraris (there were twelve of them) with ownership identified all attributed to David Letterman. All but four of them were sold including S/N 08157.
The array of Ferraris was almost overwhelming, with star-quality examples at every auction and multiple examples of important models scattered across the Monterey Peninsula. But it is worth noting that, although the number of Ferraris crossing auction blocks was up from 91 last year to 137 this year, the total Ferrari dollars changing hands was down from last year’s $175,565,500.
In the strictest sense there was no 250 GTO to set hearts ablaze, but there was one announced and displayed: RM Sotheby’s will offer S/N 3765, a Series 1 330 LM/250 GTO, in New York on November 13 during Sotheby’s Modern and Contemporary Art auction where they have enjoyed some success in the past selling modern, rare Ferraris among the paintings and sculpture.
It was an embarrassment of Ferraris, with lovely (and unloved) examples at every hand and often multiple examples of comparable models.
There were eleven Dinos (not including the 308 GT4) comprised of two 206 GTs, six 246 GTs and three 246 GTSs with at least one at each of the auctions.
There were two 275 GTB/6C with alloy bodies and four 275 GTB/4s. There were four Superamericas from the sixties: two 400 Coupe Aerodinamicos and two 410s plus a 500 Superfast. Daytonas? Seven berlinettas (one of them cut into a Spyder) plus a Scaglietti spyder.
It made for a fantastic Ferrari auction week culminating in another array of outstanding competition and road Ferraris at Sunday’s Pebble Beach Concours d’Elegance.
250 GT ELLENA, S/N 0855 GT (1958). Azzurro Metallizzato with pelle rossa leather. Estimate $1.1 million to $1.3 million. Recent restoration, 2+ condition. Hammered sold at $1.08 million plus commission of 10.46% = final price of $1.2 million. Marchal headlights and grille-mounted fog lights, Borrani wire wheels, Pirelli tires, dual brake master cylinders, vented brake drums, tool roll. Classiche certified. Cavallino Palm Beach Platinum in 2020 and displayed at Pebble Beach in 2022. Freshly restored like new with better clearcoat paint, inviting upholstery and brilliant chrome. Impeccably presented and thoroughly documented as correct and as-built, in essence this is a thing to love and admire and, particularly when compared with the prices of current Ferraris with their electronically-controlled innards, this is a purely analog, rewarding experience that brought a sound price that is fair to both the buyer and the seller. Lot # 64P. Bonhams.
250 GT PF COUPE, S/N 1391 GT (1959). Blu Genziana with tan leather. Estimate $575,000 to $650,000. Recent restoration, 2- condition. Hammered sold at $660,000 plus commission of 10.76% = final price of $731,000. Borrani wire wheels, Pirelli tires, Becker Grand Prix multiband radio, tools, manuals. Good paint, chrome and interior. Lightly stretched driver’s seat cushion. Flush panel fits, even gaps. Orderly restored chassis and underbody. The hood is slightly bowed. Orderly engine compartment. 250 GT PF Coupes are on a roll. Once rebodied to create Testa Rossa replicas, the purity and clean lines of Pinin Farina’s original design have come back into collectors’ consciousness and values have taken off. This is a quite ordinary restored example, done to high standards but not exceptional as its show history at the FCA Nationals and Cavallino without winning anything attests. Nevertheless, it brought an eye-opening price helped in no small degree by the Blu Genziana (Gentian Blue) color change. It was well-chosen by the owner and was amply rewarded in this transaction. Lot # 120. RM Sotheby’s.
250 GT PF CABRIOLET SII, S/N 1817 GT (1960). Shell Gray with red leather. Estimate $1.5 million to $2 million. Recent restoration, 2 condition. Post-block sale at $1.18 million plus commission of 10.42% = final price of $1.3 million. Borrani wire wheels, Michelin tires, two tops, 410 Superamerica-style front fender side vents, bumper-mounted driving lights. Correct type block, restamped by Ferrari with the original number, Classiche certified. Excellent clearcoat paint, beautiful interior, bright chrome. Bid to $1.25 million on the block, sold later at this negotiated price however it also was reported sold at this auction in 2014 for an eye-opening $2.09 million. It was better-than-new restored then and has mellowed only a little since while adding only 62 km to its odometer. A special car that didn’t bring a special price and a good value for the new owner even with the replacement engine block (also noted in its 2014 description.) Lot # 153. Gooding & Company.
250 GT SWB, S/N 3507 GT (1962). Grigio Metallizzato with beige leather. Estimate $9 million to $11 million. Unrestored original, 3 condition. Hammered sold at $8.6 million plus commission of 10.06% = final price of $9.47 million. Borrani wire wheels, Pirelli tires, Marchal headlights and fog lights, tool roll. Dull largely original paint, cracked and worn original upholstery. Good chrome but dull aluminum trim. A fantastically original, beautiful Ferrari with continuous ownership history that deserved its presentation just inside the Gooding & Company marquee entrance. Calling an aged SWB like this a “3” condition car may seem like a stretch, but in concert with its originality and clear history it fairly represents its presentation and preservation. It is an extraordinary find and a rare opportunity to continue its history of enthusiastic and careful ownership while providing a benchmark for restorations of less well-preserved SWBs and that deserves the notable price it brought. Lot # 40. Gooding & Company.
250 GT/L, S/N 5695 GT (1964). Grigio Fumo with blue leather. Estimate $1.9 million to $2.3 million. Recent restoration, 2+ condition. Hammered sold at $2.55 million plus commission of 10.20% = final price of $2.81 million. Borrani wire wheels, Dunlop tires, tool kit, manuals, jack. Excellent cosmetics and freshly restored to better than new appearances. Classiche certified. Lusso buyers run the risk of reverting to the discredited idea that the time to buy is now, before they go up more, but that rationale is more than supported by Lusso prices in Monterey this year led by this heady price at Broad Arrow. It was no surprise that the bidders swooned over this car’s restoration and condition, giving it a successful bid well over the high estimate. It is that good. Lot # 143. Broad Arrow Auctions.
330 GT 2+2 SERIES I, S/N 6549 GT (1964). Metallic green with butterscotch leather. Estimate $250,000 to $325,000. Cosmetic restoration, 3 condition. Hammered sold at $320,000 plus commission of 11.56% = final price of $357,000. Borrani wire wheels, Pirelli tires, headlights paired with yellow lens foglights. $105,000 cosmetic restoration completed in 2017. Recent clearcoat paint. Sound chrome and inviting new upholstery and interior trim. Fenderwells painted over old, cracked undercoat. Orderly engine compartment with no apparent seepage. The Verde Metallico color and rich “Cuoio Naturale” leather livery is enticing, so enticing that the rest of the rather ordinary car following its cosmetic restoration was overlooked in arriving at this exceptional price. The buyer may wake up on Saturday with a hangover. Lot # 119. RM Sotheby’s.
275 GTS, S/N 06809 (1965). Bianco with nero leather. Estimate $1.8 million to $2 million. Older restoration, 2- condition. Hammered sold at $1.5 million plus commission of 10% = final price of $1.65 million. Borrani wire wheels, Michelin XWX tires, ANSA exhaust, books and tools. Paint on the driver’s door doesn’t match the rest of the body, but the finish everywhere is clean. There is overspray in the wheelwells. Good chrome and highly polished wire wheels. Very good interior. Mechanically restored last year. Offered at RM Amelia in 2022 where it was reported bid to $1.55 million wearing red paint. Now given a repaint in the original Bianco, it brought no more money here in Monterey but moved on, having reached its sell-by date. Lot # F115. Mecum Auctions.
500 SUPERFAST, S/N 7817 SF (1965). Silver with red leather. Estimate $2 million to $2.5 million. Older restoration, 3+ condition. Hammered sold at $1.68 million plus commission of 10% = final price of $1.84 million. Borrani wire wheels, Michelin XWX tires, ANSA exhaust, Talbot Berlin mirror, Becker Europa radio, power windows, air conditioning, tool roll, owner’s manual. One of 36 built and represented as the first of 12 Series II cars. Bought new by Barbara Hutton. Paint, chrome, wheels and tires all look great. Clean underbody and engine. Slightly flat driver’s seat but otherwise beautiful interior. Restored years ago but has been maintained and carefully kept like the ultra-rare Enzo-era Ferrari it is. This gorgeous, exclusive Ferrari was offered by RM at Monterey in 1998 in aged and deteriorated condition. It was a project that no one at the time cared to take on and it was bid to only $210,000. Subsequently restored to high standards, a restoration that is now mellowing but is still attractive and is a solid value at this below estimate price. Lot # F89. Mecum Auctions.
275 GTB, S/N 8545 (1966). Verde Medio with beige scuro. Estimate $2.8 million to $3.5 million. Recent restoration, 2 condition. Hammered sold at $3.1 million plus commission of 10.16% = final price of $3.42 million. Alloy wheels, Michelin XWX tires, owner’s folio, handbooks, tools, jack. Owned for three decades by David C. Harper until 2005; restored in 2012. Excellent clearcoat paint, chrome and interior. Lightly stretched driver’s seat but otherwise like new. Classiche certified with four platinum awards. Impossible to fault in any meaningful way. Even among valuable Ferraris it is uncommon to encounter one that has been properly and sympathetically restored but then driven and enjoyed while being maintained in essentially show quality condition. It is a combination that encourages buyers, as in this case, to go the extra mile in the price they’re willing to pay for it. It is expensive, but it deserves to be. Lot # 135. Gooding & Company.
275 GTB/4, S/N 9909 (1967). Giallo Fly with nero leather. Estimate $3.25 million to $3.75 million. Cosmetic restoration, 3+ condition. Hammered sold at $2.98 million plus commission of 10.17% = final price of $3.3 million. Power windows, Borrani wire wheels, Michelin XWX tires. Wheelwells repainted over old undercoat. Bright clearcoat paint, sharp chrome and barely used interior. Classiche certified in 2012. Its history suggests it’s been a trailer queen passed through the hands of various dealers, intermediaries and collectors since its restoration in the mid-80s and now has a claimed 29,277 miles. It has survived well, all things considered. Despite the optimistic estimate range and the eye-appeal of its Fly Yellow paint (its original color) the price it brought here is appropriate for its aged condition and passed-around history. Lot # 59. Gooding & Company.
330 GTS, S/N 11179 (1968). Pino Verde Metallic with tan leather. Estimate $1.8 million to $2.2 million. Visually maintained, largely original, 3- condition. Hammered sold at $1.6 million plus commission of 10% = final price of $1.76 million. Air conditioning, Blaupunkt multiband radio, power windows, Borrani wire wheels, Michelin XWX tires. Stone chipped nose. Flush panel fits and even gaps. Worn and deeply cracked original upholstery. Good chrome. Repainted old undercoat. Wheel rims need to be polished. The unusual exterior color makes this GTS stand out, and rare factory air conditioning. It is in driver-quality condition and doesn’t appear ever to have been restored, just maintained as needed while retaining the original Pino Verde exterior color and the original upholstery which is now reaching the end of its usable life. The price it brought here is a realistic compromise between its aged condition and the inherent value of the car and its condition. Lot # F91 Mecum Auctions.
365 GTB/4 SPYDER, S/N 15417 (1972). Nero with beige leather, black bars. Estimate $2.8 million to $3.2 million. Older restoration, 2+ condition. Hammered sold at $2.6 million plus commission of 10.19% = final price of $2.87 million. Borrani wire wheels, Michelin XWX tires, Veglia air conditioning, Voxson 8-track stereo. Seized by the DEA in 1991. Restored in 2000 to the high standards expected for a Scaglietti-built Daytona Spyder in its original colors and Classiche certified. In many respects, particularly cosmetically, it is better than new. Sold by RM at Amelia in 2012 for $1.2 million, then at the same venue in 2015 for $3.3 million. Times have changed, however, and this result represents a fair price in the current environment even for such a well-restored and carefully preserved car with an odometer reading 39,084 miles against the 38,614 miles it showed in 2012. Lot # 253. RM Sotheby’s.
365 GTB/4, S/N 16937 (1973). Red with black leather, red inserts. Estimate $500,000 to $600,000. Cosmetic restoration, 3 condition. Hammered sold at $480,000 plus commission of 11.04% = final price of $533,000. Becker Mexico cassette stereo, Borletti air conditioning, Borrani wire wheels, Michelin XWX tires, tools. Sound clearcoat repaint with flaws and dirt inclusions on both doors. Good chrome and partially replaced interior. Door jambs painted assembled and erratically masked. Paint chip on the right headlight door. Original undercoat underneath. A cosmetically redone Daytona showing indifferent attention. Sold back in 1992 at Barrett-Jackson Scottsdale for $176,500 showing 47,683 miles. Today it has 61,073 miles on the odometer and is still in decent if not pristine condition. The indifferent price it brought reflects its qualities. Lot # 112. Gooding & Company.
512 BBi, VIN ZFFJA09B000047867 (1983). Rosso Corsa with beige leather. Estimate $275,000 to $325,000. Unrestored original, 2 condition. Hammered sold at $175,000 plus commission of 10% = final price of $192,500. Borletti air conditioning, Pioneer cassette stereo, alloy wheels, TRX tires. Reported to have been bought by actress Kirstie Alley as a gift for her husband Parker Stevenson. Now showing 10,132 miles on an odometer replaced after the original failed at 16,384 miles making the actual mileage about 26,500. Lightly stretched original upholstery, otherwise very clean and original. Classiche certified. Reported sold by Gooding & Company at Amelia Island in 2016 for $297,000 when the replacement odometer read 9,057 miles. It would not have been unnerving to see it bring a similar price today and is definitely a good value in this transaction for such a well-presented example. Lot # S119. Mecum Auctions.
TESTAROSSA, VIN ZFFSG17A3J0075836 (1988). Rosso Corsa with tan leather. Estimate $140,000 to $170,000. Unrestored original, 3+ condition. Hammered sold at $135,000 plus commission of 12% = final price of $151,200. Represented as 10,490 miles. Original paint shows its age and has light hazing. There are minor chips to the nose. The interior shows noticeable wear with creasing and stretching to the seats. An average-looking Testarossa showing moderate miles but not exceptionally special. Used but solid and maintained, this Testarossa sold for a spot-on price given its condition and mileage. It was sold for $88,000 at Russo & Steele in 2007, $66,000 at RM Ft. Lauderdale in 2009 and bid to $130,000 at Mecum Anaheim in 2016, $120,000 at Mecum LA in 2017. This result is nothing exceptional, just a sound, moderately used Testarossa at a handsome price. Lot # 17. Bonhams.
F50, VIN ZFFTA46B000103495 (1995). Rosso Corsa with nero leather, red cloth. Estimate $4 million to $4.5 million. Unrestored original, 2 condition. Hammered sold at $3.85 million plus commission of 10.13% = final price of $4.24 million. Michelin Pilot Sport tires, carbon fiber shift knob, hardtop, Tubi exhaust (factory exhaust included), books, tools, luggage, tonneau cover, flight case. Very good paint. Clean wheels and interior. Just 11,368 km (7,150 miles) and only light age. The top sale of day one in Monterey, this Euro-spec F50 brought less than the $5.175M F50 (S/N 103291) Broad Arrow sold here last year, but this is still a fair result. It wasn’t so long ago that F50s were worth half this much, but $4M-$5M has been the going rate for them lately, especially in this case with the hardtop. Lot # 149. Broad Arrow Auctions.
550 MARANELLO, VIN ZFFZR49A0X0113409 (1999). Rosso Corsa with tan. Estimate $190,000 to $220,000. Unrestored original, 3+ condition. Hammered sold at $166,000 plus commission of 12% = final price of $185,920. Represented with 18,200 miles and regular maintenance. Repainted front bumper, and all interior control knobs were refinished to prevent the stickiness endemic to Ferrari plastics of this vintage. Dash leather was replaced as well. Decent original paint with a few chips on the hood. The splitter lip has minor scuffs. The interior shows little noticeable wear, a driver quality car through and through. This price is right on the money for a solid but used 550 in today’s market. Lot # 21. Bonhams
575M MARANELLO, VIN ZFFBV55A220129306 (2002). Silver with red. Estimate $350,000 to $425,000. Unrestored original, 2- condition. Hammered sold at $300,000 plus commission of 11.67% = final price of $335,000. Red calipers, Bridgestone Potenza tires, Scuderia shields, Daytona-style seats. One of 177 left-hand drive cars with a manual, represented as 17,469 miles from new. Belt service last year. Good paint. Scuff on the left front wheel. Lightly worn seats. 2022 belt service. A standard used modern Ferrari, but the colors and the manual make it a standout. The stick shift premium on modern Ferraris gets higher and higher the later the model year, and the 575M has one of the widest price gulfs between flappy paddles and gated shifters. Stick shift 575s routinely bring double what their semi-auto siblings bring, and this car is yet another example of the trend. It also sold for $308,000 at Gooding Scottsdale six years ago putting this result right in line with its marketplace history. Lot # 147. RM Sotheby’s.
F12berlinetta, VIN ZFF74UFA1D0194930 (2013). Rosso Berlinetta with beige leather. Estimate $300,000 to $400,000. Unrestored original, 2 condition. Hammered sold at $277,500 plus commission of 11.80% = final price of $310,250. All-wheel drive, carbon brakes, matte gray alloy wheels, Pirelli tires, black calipers, red upholstery stitching, carbon fiber interior trim. Ex-Michael Fux. 1,876 miles and like new, with 2020 annual service and new tires. Minimal mileage and showroom condition brought this somewhat generous result. The sad fact is that it’s ten years old and has been driven less than 190 miles per year when it should have been enjoyed 190 miles on every weekend. Lot # 112. RM Sotheby’s.
DINO 246 GT, S/N 01004 (1970). Celeste Metallizzato with black, Panno Blu. Estimate $475,000 to $550,000. Older restoration, 2 condition. Hammered sold at $470,000 plus commission of 11.06% = final price of $522,000. Alloy wheels, Michelin XWX tires, ANSA exhaust, leather-wrapped steering wheel, roll-up windows. L-Series car. Sold new in Italy. Fully restored in 2015 in Germany. A few scratches on the bumperettes, but clean body with shiny finish in a beautiful color, plus it’s a rarer, more attractive GTB. The interior shows the lightest of wear, and the rare Panno Blu “toweling” cloth inserts are a trip. A spot-on result for the condition and equipment, similar to the $479,718 (and considered expensive at the time) it brought when its restoration was a bit fresher at RM Sotheby’s Paris 2017. Lot # 275. RM Sotheby’s.
DINO 246 GTS, S/N 08502 (1974). Rosso Corsa with tan, black. Estimate $650,000 to $800,000. Older restoration, 3+ condition. Hammered sold at $550,000 plus commission of 10% = final price of $605,000. Campagnolo wheels, Michelin XWX tires, fender flares, body color roof, Daytona-style seats, power windows, Borletti air conditioning, Becker Mexico radio, books, tools. US spec car with “Chairs and Flares” and represented as the original engine. Light pitting on the rear bumperettes. Some scratching on the wheel caps. A little dirt and grime in the engine bay. Good older paint. Light delaminating on one windshield corner. Mildly stretched and wrinkled leather. Leather trim is coming up off the bottom of the right A-pillar. Some fading and a scuff on the dash top. Remarkable configuration, unremarkable condition. Chairs and Flares can add significant digits to the price of a Dino even if they don’t make the car drive any better, but more interesting than that is that this average-quality Dino sold for nearly as much as the similar-condition car displayed next to it, a Daytona with twice the cylinders and nearly twice the power. It seems odd and it is, but that’s the direction the markets for these two cars have been moving lately. Lot # F92. Mecum Auctions.
308 GTB VETRORESINA, S/N 20839 (1977). Azzurro Metallizzato with beige interior. Estimate $250,000 to $325,000. Unrestored original, 3+ condition. Hammered sold at $210,000 plus commission of 12% = final price of $235,200. Air conditioning, Becker Europa II radio. FCA Gold Award at 2021 Concorso, includes tools, owners folio and awards. Decent paint overall with half a dozen stone chips across the front lip and some paint damage near the radio antenna. The engine compartment is highly detailed. The driver’s seat has stretching to the leather and some of the interior controls are moderately worn. Presents well and impressively preserved, but shows age. Belt serviced earlier this year. Euro-spec engine and lighter weight bodywork makes these early fiberglass 308s superior performers and have solidified their continuing premium over their later steel-bodied successors. This is a solid example in an unusual color and it would not have been a surprise to have seen it bring a bit more than this. Lot # 3. Gooding & Company.
288 GTO, VIN ZFFPA16B000054809 (1984). Rosso Corsa with pelle nera, red cloth. Estimate $4.25 million to $4.75 million. Unrestored original, 2- condition. Hammered sold at $3.55 million plus commission of 10.14% = final price of $3.91 million. BFG tires, power windows, air conditioning. Showing 4,095 km (2,545 miles). Very good body paint, but some of the black paint is chipping off the GTO badge. The seats show light but noticeable wear, and the windshield is delaminating at the edges. One of 272 examples built, highly original and well-preserved. Classiche Red Book. As the rarest of the modern halo Ferraris (288, F40, F50, Enzo, LaFerrari) the 288 GTO doesn’t come to market often, but the last several to sell at auction have brought in the near $4M range, whereas low- to mid-$2M was the going rate just a couple of years ago. This strong result suggests these higher 288 prices are here to stay. Lot # 121. Broad Arrow Auctions.
328 GTS, VIN ZFFXA20A0J0078457 (1988). Rosso Corsa with beige leather. Estimate $70,000 to $90,000. Unrestored original, 3 condition. Hammered sold at $100,000 plus commission of 10% = final price of $110,000. Goodyear Eagle tires, Alpine stereo. One owner from new and the 15,419 miles showing are consistent with its condition. Good original paint with small edge chips and nose chips. Original underbody and chassis. Sound original upholstery and dashtop. Even at this above-estimate range price this carefully preserved and maintained one owner 328 GTS is a sound value. It should receive some mechanical attention just to be sure of its reliability but even that is financially realistic at this price. Lot # F95. Mecum Auctions.
F40, VIN ZFFMN34A5M0087568 (1991). Red with red cloth. Estimate $3 million to $3.75 million. Unrestored original, 2 condition. Hammered sold at $2.8 million plus commission of 10.18% = final price of $3.09 million. Modular wheels, Pirelli PZero tires, SF shields, air conditioning, power windows, U.S. delivery. Like new and 1,769 miles. Platinum at Cavallino in 2000 and in 2020. Belt serviced as some point since 2019. Classiche certified. Sold by RM at Monterey in 2019 for $1.68 million at which time the odometer read only 1,707 miles, just 59 less than it does today, probably mostly accumulated driving on and off show fields and in and out of transporters. Hauler drivers have probably put more miles on this F40 than the owner has but having said that the $1.4 million added to its value in the past four years is typical for these legendary Ferrari supercars. Lot # 34. Gooding & Company.
F355 SPIDER, VIN ZFFXR48A4X0116306 (1999). Tour de France blue with tan leather, blue piping and trim. Estimate $175,000 to $225,000. Unrestored original, 2 condition. Hammered sold at $190,000 plus commission of 12% = final price of $212,800. Power steering, air conditioning, CD stereo, power windows, manuals, tools. Like new and a very appealing interior color palette. The odometer shows 8,001 miles; the car is so well-presented it could even be lower mileage. Engine-out service in 2020. An overall highly appealing F355 Spider with unusually attractive colors and showing all the indicia of consistent care and attention that earned it a handsome but deserved price in this transaction. The Spider is very blue, but the new owner won’t be blue about buying it. Lot # 108. RM Sotheby’s.
412P (330P3/P4), S/N 0854 (1967). Red with black, red. Competition restoration, 2- condition. Hammered sold at $27.5 million plus commission of 10.02% = final price of $30.26 million. RHD. Alloy wheels, Avon tires. A rarely seen and even more rarely publicly available example of form following function to create one of the most achingly beautiful competition cars ever conceived. Meticulously restored, road registered and street legal. A note on nomenclature: The 412P designation followed Ferrari’s change from its traditional single cylinder displacement as used in the factory’s 330 P3/P4 versions to the new terminology of 4 litres and 12 cylinders (comparable with the Dino 246 and 308). Why? The reasons are known only to Ferrari but this is how the customer versions were designated in 1967. Raced by first owner Ronnie Hoare’s Maranello Concessionaires with a second at Spa (Attwood/Bianchi), a DNF at Le Mans and 7th at Brands Hatch (Piper/Attwood). Later sold to David Piper and raced through 1969. Later with Chris Cord, Carl Bross, Anthony Bamford, Jarold Evans, Hajime Tanaka in Japan, Sir Paul Vestey, John and Bruce McCaw before the current owner. Restored to its Brands Hatch appearance and road registered and street legal in New York state. Shown at Pebble Beach accompanied by a tall guy in a leather wide-brim hat who might have been motivated to move this legendary Ferrari on to pay for his team’s foray to Le Mans this year. It was the center of attention here in Monterey, THE headline car of the week’s auctions and it sold on the block with just two bids, a strategic move by the bidders who opened high enough to scare off the competition and then brought a half-million dollar advance also high enough to satisfy the seller. For sale on the first bid, Rupert Banner waited, waited, cajoled and encouraged further bids but none were forthcoming. An epic collector car auction moment. Lot # 67P. Bonhams.