FERRARIS IN THE SCOTTSDALE AUCTIONS, JANUARY 12-19, 2020

    It will come as no surprise that the Scottsdale auctions were “off” from 2019, although not nearly as “off” as were the Monterey auctions in August.

    The total for the seven main auctions – Barrett-Jackson, RM Sotheby’s, Gooding, Bonhams, Russo and Steele, Worldwide and newcomer Leake – were down 1.5% from last year to a total of $244,154,992. This despite the arrival of Leake with a large consignment (684 lots) that brought the number of lots on offer to 3,583, up 23.5% from last year.

    The mathematical result of more lots and lower dollars was a material drop in the average transaction, from $97,000 in 2019 to $83,000 in 2020. Interestingly, and somewhat counter-intuitively, the median transaction across all the auctions increased slightly, from $45,920 in 2019 to $46,200 in 2020.

    Ferraris, despite finishing the week with the top transaction – Gooding’s F50 S/N 103922 for a trend-busting $3,222,500 – and with essentially the same number of cars on offer – 85 in 2019 and 86 in 2020 – finished the week with a lower sale rate – 83.5% in 2019 and 70.9% in 2020 – and a much lower dollar total – $45,276,290 in 2019 but down by 51.6% to $21,929,680 in 2020.

    The decline in the Ferrari total can be attributed to a relative dearth of high-value Ferraris with only six sold on hammer bids of $1 million or more and only one, the F50, bringing what might be termed a “multi-million dollar” price. Five more Ferraris attracted hammer bids of $1 million or more but were unsold, including RM Sotheby’s headline 250 GT Cab II S/N 0913GT which failed to sell on a reported bid of $5.5 million.

    61 of the 86 Ferraris in the Scottsdale auctions were reported sold, a sale rate of 70.9%, but that was substantially lower than in 2019 when 71 of 85 sold, 83.5%.

    There was a counter-trend among Ferraris, however: the continuing appearance of more and more newer models (defined as a rolling cutoff 25 years old or newer). There were 38 of them this year, up from 33 last year, and they did relatively better on the block than Ferraris as a whole, selling 28 lots for a 73.7% sale rate, although not nearly as well as last year’s 90.9% sale rate. The newer Ferraris brought a total sale of $7,420,760, up 20.2% from last year, a manifestation of an increasingly important market segment, and perhaps a newer generation of Ferrari buyers armed with bulging checkbooks.

    It turned out pretty much as expected, although much less dramatic than the falloff at Monterey in August which was down 31.9% in total dollars from 2018. In both cases the auctions had relatively modest consignments of the highest value cars, a trend that appears to be continuing at the upcoming Paris/Retromobile auctions by Artcurial, RM Sotheby’s and Bonhams. There the emphasis will be on Bugattis, not Ferraris (and on whether the trains and Metro will be running.)

    The following report includes details on 39 of the 86 Ferraris that crossed the various auction blocks.

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Selected V12 Auction Cars

    212 INTER VIGNALE CABRIOLET, S/N 0159 EL (1951). Rosso Bordeaux with beige leather. Estimate $2 million to $2.4 million. Older restoration, 1- condition. Hammered sold at $1.75 million plus commission of 10.29 percent = final price of $1.93 million. Three Weber carburetors (factory upgraded in 1953), Borrani wire wheels, Dunlop tires, wood rim steering wheel with finger buttons, tinted glass visors, Marchal headlights. Classiche certified. 2014 Pebble Beach second in class. Excellent paint with minor polishing scuffs. Nearly unused upholstery and interior soft trim. Bright chrome. Vignale in 1951 was only beginning to develop a signature style which included details represented on this 212 Inter Cabriolet. The chrome crossbar grille floating in the radiator air intake, integrated Ferrari logo, taillights recessed in chrome nacelles matched by lighted front fender chrome strakes and glamorous tinted glass sun visors highlight Vignale’s attention to detail. It was sold by Bonhams in 2015 for $2.2 million and has added only 172 km. It is gorgeous to look at and its result here is barely a squeak less than it brought nearly five years ago, a reasonable result for both the seller and the buyer. Lot # 54. Bonhams.

    250 GT PF CABRIOLET SERIES I, S/N 0913 GT (1958). Rosso Corsa with tan leather. Estimate $6 million to $7 million. Older restoration, 2- condition. Not sold at hammer bid of $5.5 million. Borrani wire wheels, Vredestein tires, wood rim steering wheel with finger buttons, covered Marchal headlights, single Talbot outside mirror, auxiliary power outlets under the dashboard. Excellent paint, chrome and interior. There is some paint loss behind the driver’s door and on the hood edge on the left side. Panels are flat, fits are excellent. The seats have some use and wear but only enough to be characterized as patina. An exceptionally attractive and maintained Ferrari. It is a fast, beautiful and rare Ferrari grand touring cabriolet and has loads of panache, particularly with the covered headlights. The result here is reasonable, and so close to the pre-sale low estimate, it realistically could have been sold at the reported high bid. Lot # 253. RM Sotheby’s.

    250 GT PF CABRIOLET SERIES II, S/N 2075 GT (1960). Red with tan leather. Estimate $1.3 million to $1.5 million. Older restoration, 2- condition. Hammered sold at $1.325 million plus commission of 10.38 percent = final price of $1.46 million. 4-speed, overdrive, Dunlop disc brakes, Borrani wire wheels, Michelin X tires, Pianola AM/FM radio, Marchal headlights, unrestored hardtop. Matching numbers engine, documented with a copy of the build sheet, but not Classiche certified. Restored in the early 2000s with very good paint, chrome and interior with only slight stretch and moderate creasing. There are some paint flaws, particularly over the left headlight. The underbody is nearly like new. The late Series II Cabriolets were more sedate road cars based upon the 250 GT PF Coupe. They’re valued at a quarter or so of the Series I Cabriolets which is borne out by this good but not outstanding example’s result, including a modest bump from the rare (but unrestored) hardtop. Lot # 46. Gooding & Company.

    250 GTE 2+2 SERIES II, S/N 3547 GT (1962). Dark red with beige leather. Estimate $400,000 to $500,000. Visually maintained, largely original, 3 condition. Not sold at hammer bid of $360,000. Marchal headlights and fog lights, Borrani wire wheels, Vredestein tires. Dull, dirty wheels, burnished older upholstery with dead foam cushioning falling apart and onto the floor. Dull gauges with foggy lenses. Oily misted engine compartment with some fluid leakage. Old undercoat in the wheelwells. Decent older paint and even panel fits. Only four miles have been added to this 250 GTE’s odometer since it crossed the block at the ill-fated Keno Brothers auction in New York in 2015 but the car has been neglected and it shows. The reported high bid here is reasonable and realistic for its condition and the looming probability of an extensive re-commissioning to make up for five years of dormancy. Lot # 151. RM Sotheby’s.

    330 GT 2+2 SERIES I, S/N 5401 GT (1964). Blu Sera with beige leather. Visually maintained, largely original, 3+ condition. Not sold at hammer bid of $240,000. Borrani wire wheels, Pirelli CN72 tires, 4-speed + overdrive. Excellent paint and surface creased upholstery. Sound chrome. Good restored engine compartment with only slight evidence of being driven. An attractive cosmetically redone driver. Bonhams offered this car here in Scottsdale a year ago where it was reported bid to $180,000. It has added 67 miles to the odometer since then and the consignor should have jumped on the reported high bid, or anything close to it. Lot # 22. Worldwide Auctioneers.

    275 GTB/6C, S/N 07241 (1965). Rosso Corsa with tan leather. Estimate $1.8 million to $2.2 million. Older restoration, 2- condition. Not sold at hammer bid of $1.7 million. Alloy wheels, Michelin XWX tires, covered Carello headlights, short nose, Classiche certified with a replacement correct Type 563 transaxle. Steel body. A little fluid residue in the engine compartment but otherwise clean and nearly like new. Excellent paint and interior with a lightly burnished driver’s seat. A quality older restoration with excellent maintenance. Skip Barber collection. The reported high bid here is more than reasonable for this car. Lot # 152. RM Sotheby’s.

    330 GTC, S/N 9449 (1967). Rosso Corsa with tan leather. Estimate $500,000 to $600,000. Cosmetic restoration, 3 condition. Hammered sold at $450,000 plus commission of 11.11 percent = final price of $500,000. Becker Mexico cassette stereo, Talbot outside mirror, Borrani wire wheels, Michelin XWX tires, Carello halogen headlights, grille-mounted Marchal driving lights, power windows.  Sound older paint, poorly touched up repair on the driver’s windshield post and scratches on the cowl. The hood stands a bit proud at the rear. Good major chrome but weak window trim, license plate lights and door handles. Delaminating rear window. Original undercoat in the wheelwells. A disappointing cosmetic redo on a car that deserved better. Not pristine by any standard, but at least maintained in running and driving condition, this is a representative result these days for a driver quality 330 GTC. Lot # 249. RM Sotheby’s.

    330 GTS, S/N 9781 (1967). Grigio Ferro with gray leather. Estimate $1.8 million to $2.2 million. Recent restoration, 2+ condition. Hammered sold at $1.55 million plus commission of 10.32 percent = final price of $1.71 million. Borrani wire wheels, Michelin X blackwalls, power windows, halogen headlights, owner’s manual, full tool roll, Classiche certification. Cavallino Platinum 2017-19. Known history from new, original chassis, engine and body. Restored in 2016 in the present colors and materials with beautiful clearcoat paint, bright chrome and inviting interior. The underside is as clean and fresh as the top. The engine compartment is beautiful, fresh, dry and clean. One of the most beautiful of all open Ferraris, of which only 99 were built, with continent-straddling performance and comfort and impeccable restoration and preservation. The result here is indicative of a general softening in top-end Ferrari V-12s in the past five or so years, a result that will not please the other 98 330 GTS owners, but is realistic in the present environment. Lot # 242. RM Sotheby’s.

    330 GT 2+2 SERIES II, S/N 10181 GT (1967). Silver with black leather. Cosmetic restoration, 3+ condition. Not sold at hammer bid of $235,000. Becker Europa II radio, power windows, steering and brakes, air conditioning, Borrani wire wheels, Dunlop tires. Quality recent repaint, bright chrome, very good upholstery and interior trim. Detailed engine compartment top, but oily below the exhaust heat shields from cam cover seepage. Unrestored underbody with old undercoat. A handsome cosmetically restored 330 GT 2+2. This car should have gone away with satisfaction on both sides of the transaction at the reported high bid. Lot # 648.1. Leake Auction Company.

    365 GTB/4 SPYDER, S/N 14779 (1971). Argento Metallizzato with black leather. Estimate $2 million to $2.4 million. Older restoration, 2- condition. Hammered sold at $1.75 million plus commission of 10.29 persent = final price of $1.93 million. Becker Mexico cassette stereo, Veglia air conditioning, Marelli ignition modules. Very good older paint, barely used upholstery, clean engine compartment showing some age but few miles. Represented as 39,747 miles from new, once owned by Hollywood director Sydney Pollack and the subject of a colorful expropriation in Mexico. Most recently restored in 2001 then cosmetically freshened in 2010. A quite exceptionally well-documented and meticulously maintained Daytona Spyder. Gooding sold it at Scottsdale in 2008 in a post-block transaction for $1.29 million after its most recent restoration and it is still pristine after recent freshening. Lot # 42. Gooding & Company.

    365 GTB/4, S/N 14821 (1971). Estimate $650,000 to $750,000. Not evaluated. Hammered sold at $545,000 plus commission of 10.92 percent = final price of $604,500. We’ve seen this car before when it was sold at Bonhams Quail Lodge auction in 2014 for $946,000. Lot # 128. Gooding & Company.

    512 BBi, VIN ZFFJA09B000049803 (1984). Rosso Corsa with cream leather. Estimate $325,000 to $375,000. Unrestored original, 3+ condition. Hammered sold at $295,000 plus commission of 11.69 percent = final price of $329,500. Kenwood cassette stereo, air conditioning, gold painted alloy wheels, TRX tires. Good probably original paint and interior. Clean underbody and clean, dry engine compartment. The odometer shows 10,903 km, probably all it has covered from new. Belt serviced five years, but only 25 miles, ago. Serious premiums for originality were earned by a few select cars in Scottsdale like the 400i and this Berlinetta Boxer. In these situations it’s best to let the bidders speak with their paddles. In this case low miles and preservation were worth $50,000-$75,000 over a less well-preserved example. Lot # 136. RM Sotheby’s.

    400i, VIN ZFFEB07B000054119 (1984). Mahogany brown with tan leather. Estimate $80,000 to $100,000. Visually maintained, largely original, 3+ condition. Hammered sold at $117,500 plus commission of 12 percent = final price of $131,600. Michelin TRX tires, Clifford alarm, removable radio, MOMO leather rim steering wheel. Gorgeous highly and accurately detailed engine compartment. Clearcoated original paint cracked at the hood opening corners and orange peel above the rear window. Good but aged original upholstery. Clean original undercoat. This may be the best 400i in the world. The bidders were suitably impressed by the condition, originality and particularly the 5-speed of this 400i, a model that usually has an “a” appended to indicate an automatic transmission. They paid generously for it, exceeding even the usually optimistic pre-sale estimate range of $80,000-$100,000. Lot # 136. Gooding & Company.

    TESTAROSSA, VIN ZFFSG17A9K0080671 (1989). Rosso Corsa with tan leather. Unrestored original, 2- condition. Hammered sold at $100,000 plus commission of 10 percent = final price of $110,000. Chrome Ronal modular wheels, Kumho tires, red calipers, air conditioning, SF shields, factory wheels included. Engine-out service last year. Thin wheel chrome, good interior worn as expected for the 9,421 miles which are represented to be from new. With the exception of some stone chips on the front bumper the paint is unblemished. The most expensive Testarossa in Scottsdale, but not by enough to reset any expectations, this is an attractive mostly original example that has been pampered and maintained to high standards giving the bidders some confidence in the underlying value and quality. The wheels and tires are a bit “Orange County” but the new owner has the factory wheels to put back where they belong. Lot # 1474. Barrett-Jackson.

    512 TR, VIN ZFFLG40A7P0095077 (1993). Yellow with black leather. Estimate $200,000 to $250,000. Unrestored original, 3 condition. Hammered sold at $160,000 plus commission of 12 percent = final price of $179,200. Michelin tires, black calipers, tools. Represented as 8,916 miles and aside from some burnishing and light wrinkling on the seats, looks the part. The engine compartment, however, is aged, dusty and oxidized with seepage from the cam covers and road grime on the chassis and suspension. One look into the bottom of the engine compartment shows that this 512 TR isn’t the pampered, babied car implied by the low miles. It also was offered with no record of major service. The seller was fortunate to get this much for it. Lot # 148. RM Sotheby’s.

    F512M, VIN ZFFVG40A2S0100154 (1995). Yellow with black leather. Estimate $275,000 to $350,000. Unrestored original, 2- condition. Hammered sold at $280,000 plus commission of 11.79 percent = final price of $313,000. Turbine modular wheels, Michelin tires, CD stereo, Tubi exhaust. Very good original paint and interior with the usual driver’s seat bolster wear. One small touchup by the right front wheel, no nose stone chips. Clean, lightly used engine compartment and chassis appropriate to the 24,795 miles showing. Sold by RM in Arizona in 2016 for $363,000, the result here is a good value for the new owner for one of the ultimate evolutions of the Testarossa, particularly one in yellow, but it once again illustrates the value softness of these exceptional performers. Lot # 05. Bonhams.

    F50, VIN ZFFTG46A5S0103922 (1995). Rosso Corsa with black, red cloth. Estimate $3.2 million to $3.6 million. Unrestored original, 2 condition. Hammered sold at $2.925 million plus commission of 10.17 percent = final price of $3.22 million. P Zero Corsa tires, books, tools, suitcase. One of 349 F50s built and 55 US market cars. Represented with two owners and 5,200 miles from new. No significant wear to speak of. Serviced in 2018. The F50 hasn’t gotten the same respect as other Ferrari halo cars, but it’s rarer than the F40, the Enzo and the LaFerrari, and US-market F50s are especially scarce. Worldwide had an F50 in Scottsdale this year as well and it didn’t sell at a $2.5 million high bid, which seemed like adequate money for this car until this result, which was Arizona auction week 2020’s highest. Lot # 44. Gooding & Company.

    550 BARCHETTA, VIN ZFFZR52B000124119 (2001). Rosso Corsa with black leather. Estimate $400,000 to $500,000. Unrestored original, 2 condition. Hammered sold at $365,000 plus commission of 11.37 percent = final price of $406,500. Ferrari modular alloy wheels, Bridgestone tires, CD changer, SF shields, books, tool kit, car cover. Polishing scuffed paint, nearly virgin upholstery. 684 miles and still in the factory carpet covers. A Euro-spec car, Federalized in 2004, belt serviced in 2017. Beautiful to look at and lovely to drive (at least in the absence of precipitation) but impractical and so many are like this example: obsessively preserved and barely driven except for road testing after periodic service at a Ferrari specialist. It seems a shame to own a wonderful, powerful Ferrari and then let service technicians get all the driving enjoyment. There was a notable premium for originality, low miles and careful preservation included in this price. Lot # 43. Gooding & Company.

    575M MARANELLO F1, VIN ZFFBV55A630133408 (2003). Argento Nürburgring with cream leather, black bars. Estimate $100,000 to $120,000. Not evaluated. Hammered sold at $96,500 plus commission of 12 percent = final price of $108,080. Aftermarket modular wheels, Michelin tires, red calipers, shields, factory books, tools, keys, Ferrari stereo, climate control. Chipguarded nose, lightly worn driver’s seat. sun-rotted dashtop. Otherwise like new and represented as 9,646 miles. Lot # 262. RM Sotheby’s.

    612 SCAGLIETTI  F1, VIN ZFFAA54A250138987 (2005). Grigio Ingrid with tan leather with brown inserts. Estimate $100,000 to $125,000. Unrestored original, 2- condition. Hammered sold at $82,500 plus commission of 12 percent = final price of $92,400. Modular wheels, red calipers, P Zero tires, Daytona-style seats, shields, books and tool kit. A few small but deep chips on the nose. Otherwise the car looks fantastic and nearly new, as it should given the 7,126 miles and single owner represented. Also comes with full service history. Unusual colors on an already underappreciated Ferrari, but this is a well-kept example. The 612 Scaglietti cost about a quarter-million dollars when it was new, but the four-seater Ferraris take longer to garner appreciation among enthusiasts and collectors than their sportier cousins, and this is a spot-on result in today’s market. It’s a lot of car for the money. Lot # 267. RM Sotheby’s.

    599 GTB FIORANO F1, VIN ZFFFC60A270153410 (2007). Yellow with tan leather. Estimate $145,000 to $165,000. Unrestored original, 2 condition. Hammered sold at $129,464 plus commission of 12 percent = final price of $145,000. Yellow calipers, P Zero tires, Daytona-style seats. 8,000 miles. Other than a very light scratch on the nose there is no wear to speak of on this first-year 599. The 599 cost about $280 grand when it was new. While other more limited-production, high-performance Ferrari models like the F12tdf seemingly became instant collectibles with the prices to prove it, the 599 is still essentially a used exotic GT for now. This was a spot-on result in line with other recent transactions. Lot # 20. Gooding & Company.

    FF, VIN ZFF73SKA5C0183859 (2012). Black with black leather, white stitching. Unrestored original, 2- condition. Hammered sold at $92,000 plus commission of 10 percent = final price of $101,200. Carbon fiber brakes, yellow calipers, carbon fiber interior trim, parking sensors and cameras, CD changer, shields, Ferrari alloy wheels, Michelin Pilot Super Sport tires. 29,415 miles, a few nose chips and right headlight cover that is starting to craze. The interior is lightly used and has the usual scuffed driver’s seat back bolster, The paint has expected light polishing scuffs, all in all, better than might be expected for the miles. The Ferrari for someone who lives where it snows (all-wheel drive), has dogs (hatchback) and kids with short legs (“four” seats). Right at home with a ski rack on the roof at Val d’Isère or Aspen but probably nowhere else. Lot # 1282. Barrett-Jackson.

    F12berlinetta, VIN ZFF74UFA6H0226891 (2017). Marron Fer, roof in Vinaccia with cream leather, burgundy piping. Estimate $400,000 to $450,000. Unrestored original, 2 condition. Hammered sold at $372,500 plus commission of 11.34 percent = final price of $414,750. 5-spoke alloy wheels, PZero tires, black calipers, climate control, folding rear seat back. 109 miles and unblemished. 70th Anniversary livery (No. 10) “The Grand Tourer” inspired by 1954 Europa GT, the only F12berlinetta so-liveried. According to the catalog there were 70 different Tailor Made liveries applied exclusively to each five production models. Math tells us there are 350 70th Anniversary cars floating around, with a significant subset of them being passed on here at the Scottsdale auctions and this one brought the most extravagant premium even taking the low miles into account, some $150,000 over the value of an ordinary (if there is such a thing) F12berlinetta. It’s a handsome and luxurious car. It’s also expensive. Lot # 171. RM Sotheby’s.

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Selected V6 and V8 Auction Cars

    DINO 246 GTS, S/N 04268 (1972). Giallo Fly with black vinyl. Estimate $325,000 to $375,000. Visually maintained, largely original, 3+ condition. Hammered sold at $305,000 plus commission of 11.64 percent = final price of $340,500. Cromodora wheels, Michelin XWX tires, power windows, Borletti air conditioning, owner’s manuals, jack, tool kit. Chipguarded nose. Classiche certified, original engine and gearbox. Good paint and interior with neither chips nor wear. Old undercoat in the wheelwells. The engine compartment is orderly but has fluid residue. Good chrome. Sold by RM here in Arizona in 2014 for $352,000 and bought here for a realistic price (with perhaps a little bonus for the wonderful Giallo Fly livery) that reflects the reality of 246 GTS values over the past six years. Lot # 115. RM Sotheby’s.

    DINO 246 GTS, S/N 05534 (1973). Bianco Polo Park with black leather. Estimate $325,000 to $400,000. Visually maintained, largely original, 3+ condition. Post-block sale at $270,000 plus commission of 11.85 percent = final price of $302,000. Cromodora wheels, Michelin XWX tires, Borletti air conditioning, power windows, Becker Europa AM-FM. Sound repaint, minor nose chips, mellow original interior. Repainted original undercoat in the wheelwells. Good major chrome, weak windshield molding and vent window frames. Bid to $230,000 on the block, closed later at this all-in result which reflects its condition, style and the unconventional but intriguing colors. Lot # 113. Gooding & Company.

    308 GTSi, VIN ZFFAA02A7B0036683 (1981). Black with black leather. Estimate $90,000 to $110,000. Recent restoration, 2- condition. Hammered sold at $60,000 plus commission of 12 percent = final price of $67,200. Borletti air conditioning, Blaupunkt cassette stereo, 5-spoke alloy wheels, TRX tires. Very good fresh repaint but they neglected to wet sand the front fender vents which are disgracefully orange peely. Cracked front bumper corners. Gorgeous new interior and bright, crisp engine compartment although the emission label is lumpy, peeling and discolored, a curious oversight. Timing belt service two years ago. A beautiful Ferrari, but troublingly presented with oversights that call into question the attention to unseen details. The bidders at Fashion Square didn’t like this Ferrari very much and it changed hands at a price that reflects its issues. Lot # 122. Gooding & Company.

    308 GTS QV, VIN ZFFUA13AXF0054571 (1985). Red with black leather. Estimate $80,000 to $100,000. Visually maintained, largely original, 2- condition. Hammered sold at $47,000 plus commission of 12 percent = final price of $52,640. Borletti air conditioning, aftermarket stereo, 5-spoke alloy wheels, Pirelli tires. A few tiny chips on the nose, more like sand than stones. Fresh unblemished upholstery. Clean gauges and interior controls. The odometer shows 34,014 miles, substantiated by Carfax and AutoCheck reports. Reportedly belt serviced late last year. This QV is a better car than the price it brought gives it credit for, by a substantial margin. There is nothing sketchy about its presentation or history, an observation borne out by the recent belt service. The new owner got a solid value. Lot # 45. Gooding & Company.

    328 GTS, VIN ZFFXA20A4J0075061 (1988). Estimate $90,000 to $120,000. Not evaluated. Hammered sold at $52,000 plus commission of 12 percent = final price of $58,240. Lot # 102. Gooding & Company.

    348ts, VIN ZFFRG36A1M0090058 (1991). Rosso Corsa with tan leather. Unrestored original, 3 condition. Hammered sold at $45,000 plus commission of 10 percent = final price of $49,500. Sumitomo tires, shields, tool kit, owner’s manual, original window sticker. Good original paint and interior with a typically scuffed driver’s seat bolsters. Stone chip on the left headlight door touched up with the wrong color. Small chips on the engine cover. Clean original underbody. Tidy but used and aged engine compartment. A credible Ferrari driver with a recent belt service showing 31,814 believable miles. A good, solid, moderate mileage Ferrari bought for a realistic price without observable premium for the originality. Lot # 561.1. Leake Auction Company.

    348tb, CHALLENGE, VIN ZFFRG35A4R0098843 (1994). Red with black leather. Unrestored original, 3 condition. Hammered sold at $44,000 plus commission of 10 percent = final price of $48,400. Shields, P Zero tires. Good paint but the right rear corner has been repainted with non-matching orange peel. Clean engine compartment. The driver’s seat bolster is scuffed appropriately to the 24,575 miles showing. Has some race markings, but no noted race history. The Carfax shows right side damage in 1995, which corresponds to the paint work. Even though this 348tb was placed on the markdown counter due to the damage report, the seller didn’t do too badly with this result and was penalized only a few thousand dollars. Lot # 472. Leake Auction Company.

    F355 SPIDER, VIN ZFFXR48A5W0110576 (1998). Grigio Titanio Metallizzato with black leather. Estimate $80,000 to $100,000. Unrestored original, 2- condition. Hammered sold at $90,000 plus commission of 12 percent = final price of $100,800. P Zero tires, boot cover, books, tools, tire inflator, car cover. Showing 15,492 believable miles and represented with full service history. Some very small stone chips at the bottom of the nose but mostly very good original paint. Very good, lightly worn interior. Clean underneath. A lightly used, honest 355. While auction companies make hay about the 6-speed gearbox in the F355, the 6-speed was the standard transmission: the paddle shift F1 was an expensive option. That fact seems to make little impression upon bidders or writers of price guides, however, and is reflected in the appropriate result of this transaction. Lot # 107. Gooding & Company.

    355 F1 SPIDER, VIN ZFFXR48AXW0112503 (1998). Not evaluated, 3+ condition. Hammered sold at $50,000 plus commission of 10 percent = final price of $55,000. Lot # 475. Barrett-Jackson.

    355 F1 GTS, VIN ZFFXR42A5X0113858 (1999). Not evaluated, 3+ condition. Hammered sold at $47,000 plus commission of 10 percent = final price of $51,700. Lot # 1248.1. Barrett-Jackson.

    360 MODENA, VIN ZFFYR51A8X0119312 (1999). Black with black leather. Estimate $120,000 to $150,000. Unrestored original, 2- condition. Hammered sold at $82,500 plus commission of 12 percent = final price of $92,400. 6-speed manual, red calipers, Eagle F1 tires. Represented with 13,000 miles. Some tiny stone chips on the nose, headlights and mirrors. No wear to speak of in the interior. Clean engine bay. Belt and fluid service last November. A lightly used 360, but the third pedal and that shifter between the seats automatically makes it a noteworthy car. The later the Ferrari, the harder it is to find one with a manual, and although there are quite a few 6-speed 360s on the market to choose from at any given time, they’re coveted by buyers who are usually willing to pay a third more for a manual than an equivalent paddle-shifted car. This is an appropriate result for a consistently maintained, lightly used 6-speed car. Lot # 05. Gooding & Company.

    360 F1 SPIDER, VIN ZFFYT53AX10125845 (2001). Red with tan leather. Unrestored original, 3+ condition. Hammered sold at $85,000 plus commission of 10 percent = final price of $93,500. Red calipers, shields, Bridgestone tires, CD changer, power windows and mirrors, climate control, power Daytona-style seats. Good original paint and interior. The driver’s seat is worn and stretched somewhat more than indicated by the 11,125 miles and there is no service history noted other than “regularly”. This is an expensive result for a relatively undistinguished 360 Spider, even with the noted moderate miles. Lot # 1271. Barrett-Jackson.

    F430, VIN ZFFEW58A570151801 (2007). Not evaluated, 2 condition. Hammered sold at $115,000 plus commission of 10 percent = final price of $126,500. Lot # 1155.1. Barrett-Jackson.

    CALIFORNIA, VIN ZFF65LJA5C0183759 (2012). Rosso Corsa with black leather, red stitching. Unrestored original, 2- condition. Hammered sold at $87,000 plus commission of 10 percent = final price of $95,700. Alloy wheels, Michelin Pilot Super A/S tires, climate control, shields, power Daytona-style seats, parking sensors, yellow tach, red calipers, carbon ceramic brakes, AFS lighting, satellite radio. 16,006 miles, a few tiny chips and slight driver’s seat wear appropriate to the mileage and age. Described as a clean Carfax and “recently serviced” although without further details that might be as little as a fluid top-off. The 2008-introduced California was a first for Ferrari, utilizing a front-mounted version of the 4.3 liter V-8 and combining it with Pininfarina-designed retractable hardtop convertible coachwork. A sophisticated design and technical package, it’s not taken hold yet with second and third owners offering an opportunity to buy a high performance, elegant open Ferrari for the price of a loaded Chevy Suburban. The result here is realistic, particularly considering the laundry list of expensive options, and modest mileage. Lot # 1270. Barrett-Jackson.

    458 SPECIALE A, VIN ZFF78VHA6F0209707 (2015). Blu Pozzi with black, blue Alcantara. Estimate $550,000 to $650,000. Unrestored original, 2 condition. Not sold at hammer bid of $450,000. Carbon fiber interior trim, black wheels, shields. Few signs of use aside from a couple of small stone chips on the lower front bumper. The car is otherwise in unused condition and represented to be under 1,000 miles. This is an essentially unused example of a special limited production (499 built) high performance Ferrari with some 55 more horses than the already powerful 458. Its appeal was lost on the bidders in Arizona, however. Lot # 240. RM Sotheby’s.

    488 SPIDER, VIN ZFF80AMA6H0226326 (2017). Giallo Tre Strati with black leather. Estimate $400,000 to $475,000. Unrestored original, 2 condition. Hammered sold at $330,000 plus commission of 11.52 percent = final price of $368,000. Yellow calipers, carbon ceramic brakes, matte grey wheels, shields. Under 1,000 miles and unblemished. A 70th Anniversary livery patterned on the original Dino 206 (No. 41). Ferrari has plumbed the reaches of commemorative regalia with the 70th Anniversary models which are too numerous for anyone (except Cathy Roush at Ferrari Market Letter) to catalog and they continue to bring premium prices. Their appeal is limited, as manifested by the frequency with which they show up at auctions and/or in the FML; people buy them to stay on Ferrari’s good list, then unload promptly to free up discretionary capital for the next “limited-production” (read “specially configured and dressed-up”) show-off Ferrari. At $100,000 under sticker the seller took a hit. Lot # 158. Gooding & Company.