Monterey Auction Ferraris - Two People, Two Lists

     The task was to come up with four pages of text for this issue. Sometimes the creative coffers run low and for this issue we decided to bring you something a little different. Mitch DeFrancis and I brainstormed a couple of ideas.

      What we came up with was the upcoming Monterey auctions. Since we will be reviewing the results after the auctions have been completed, what if we each gave our take on selected Ferrari about to be offered?

     Which cars will we think will be groundbreaking sales? Significant cars sold? What Ferrari would be the most fun to enjoy? At Monterey there is always a wide range to choose from, so with this in mind, here are our choices.

     We decided to pare down the list and each pick ten cars from the roughly 106 Ferraris on offer between Broad Arrow, RM Sotheby’s, Gooding, Bonhams and Mecum.

     Historically Monterey auction week tends to set the market for the coming year. The last several years sales have been steady, but the results have not been spectacular.

     The market has been in a slight downward trend. Fortunately, with the turmoil in the economy, rising inflation and political turmoil, the Ferrari market has not crashed.

     Slowed for sure but there has not been any large sell-off, flooding the market and depressing prices. I feel that most held onto their cars and may have carefully considered what needed to  go and what could be held until the market rebounded.

     With that said, the number and quality of Ferraris being offered this year at Monterey is really interesting. The range of offerings is from a 166 MM all the way to a 296 GTB with many choices in between.

     Gooding has three 250 GT Spyder California offered. THREE!! Two SWB examples and one LWB. That is nearly three percent of the total production!

     The other auction companies all have a great variety on offer. Let the fun begin!

     In no particular order.

     JIM- LaFerrari Aperta, S/N 232856. The LaFerrari is part of ‘The Five” when it comes to Supercars. The 288 GTO, F40, F50, Enzo and the LaFerrari completes having the ultimate Supercar grouping.

     The Aperta was even more exclusive with 210 examples made. Taking the top off has always made Ferraris more desirable. Think Spyder California, NART Spyder and Daytona Spyder. Combined with low production numbers the LaFerrari Aperta was immediately collectible.

     RM Sotheby’s has estimated this one made in Nero Daytona with nero leather to be $6 to $7 million. The red accent lines on the body highlight the curves and sight lines. In addition, as a 2017 model it carries the 70th Anniversary badge on the rear quarter panel.
Because there are so few of these and they do not come to auction often, this one will be one to watch.

 

 

     MITCH- 1950 166/195 MM, S/N 0060 M. Offered by Gooding & Co. Estimate $4.5 million to $5.5 million. Currently in original delivery blue.

     A very important Touring-bodied 166 MM Berlinetta. The 1950 Paris Show car first sold to Briggs Cunningham. This 166 has incredible history and a long list of well-known owners who campaigned the car as recently as the 1990s in the Mille Miglia and Goodwood.

     I really like this car because 166 MMs very rarely come up for sale and this car is a serious and interesting piece of Ferrari competition history in the U.S. and South America.

 

 

     JIM- 330 GT 2+2 Series II, S/N 8551 GT, offered by RM Sotheby’s. In the world of Supercar and highly rare and collectible Ferraris there are still semi-reasonably priced cars out there. The 2+2s Ferrari made often fall into this category.

     The 250 GTE and 330 GT cars are analog, vintage Ferraris that do not carry million-dollar price tags. Appreciation of these models has increased in the last few years and as a result prices have also climbed.

     RM’s estimate range is $250,000 to $350,000. While that is not chump change it is a way to enter the vintage Ferrari market with a V-12 and classic lines. The car offered is in a rare color, Verde Pino with red interior.

     It has also recently completed a restoration. The single headlight version of the 2+2 is the best looking and with a five-speed transmission is very reliable. If you are looking for a Ferrari, which is not too expensive, and fun to drive, this would be your ticket.

 

 

     MITCH- 400 SA Cabriolet, S/N 2407 SA. Offered by Gooding & Co. Estimate $5.5 million to $6.5 million.

     One of six Series I 400 Superamerica Cabriolets built by Pininfarina. An ex-Greg Garrison show stopping Ferrari.

     The colors of this car are amazing. In my eyes one of the most beautiful Pininfarina Ferraris ever made. It is very hard to say that because there were so many beautiful 1950s era Ferraris, this one is a stunner.

     I could stand around for hours and take in the details of this car. A usable, enjoyable piece of artwork. You can’t do that with a Jackson Pollock, Rembrandt or Picasso. Worth every penny.

 

 

     JIM- Gooding has a 250 GT SWB Spyder California, S/N 2383 GT. This is an alloy-body car with some early competition history. The engine is a competition engine but is not built to the same specifications as the factory competition cars. The late George Carrick and I had many discussions about what makes a true competition 250 engine.

     This one did come with slightly higher compression pistons and high lift cams, but the cylinder heads were standard Ferrari fare with normal valve sizes. The factory held back for their own engines the larger valves used in the Testa Rossa and Comp SWB Berlinetta.

     Regardless, this California has been restored and shown throughout the world. It is a fabulous car ticking all the right boxes with covered headlights, pretty color combination, in gray and tan, and comes with the rare hardtop.

     The estimate range shows “in excess of $20 million”. Will it bring that much? Recent other sales of Spyder Californias show this certainly could meet the estimate. This is probably going to be the sale of the weekend.

 

 

     MITCH- 2004 Challenge Stradale, S/N 137795. Offered by Gooding & Co. Estimate $300,000 to $400,000.

      A black Challenge Stradale with no stripe and red interior. I love it, I want it. It is still an affordable supercar that offers a remarkable driving experience for less than half a million dollars.

     One of the best Ferrari V8s ever made. Raw, lightweight, responsive and noisy. Driving a Challenge Stradale is something you never forget.

     Of the 1,288 Challenge Stradales made, only 378 came to the U.S. making this a VERY rare Ferrari. These will only go up in value.

 

 

     JIM- Now for something different. RM Sotheby’s is offering an F40, S/N 94647. The F40 is iconic. The shape is unmistakable and the performance brutal. While I personally like the F40, the special wears off since all 1,315 made all look the same. Red.

     This one started life the same as the others and was enjoyed without being abused. After Classiche Certification in 2013 it was transformed. It received an F40 LM gearbox and uprated turbos, upgraded suspension and several other enhancements.

     The one thing that sets this F40 apart from all the others is the Azzurro Hyperion color applied to the outside. Add in the blue Alcantara seats and headliner and you have a very unique automobile.

     This F40 would be spotted in a sea of other F40s without a doubt. But it is not original. Is it collectible? With 31,000 kilometers, who cares? This was made to be driven and enjoyed.

     The estimate range is $2.5 to 2.8 million. The F40 market seems to be another million dollars more a garage queen. With the modifications and current mileage this one does not fit into that category. This will be one to watch.

 

 

     MITCH- 212 Export Touring Barchetta, S/N 0136E. Offered by Mecum Auctions. Estimate $3.25 million to $4 million. One of eight 212 Exports finished in Touring’s Barchetta Superleggera style bodywork. This is the 25th of 28 212 Exports made. 1951 Paris Show car.

     Called the “Export” primarily to signify Ferrari’s focus on overseas markets and international competition and successfully aimed at targeting wealthy American racing privateers. While studying the extensive FML database, I found that this car raced in the Tourist Trophy races in Dundrod, Grand Prix of Rio de Janiero, Argentina Buenos Aires 1000 km race and was shown at Cavallino Classic and Ville D’Este.

     This car is the basis for the immortal Rush song, Red Barchetta. One of the most beautiful and simple car designs in automotive history. Period.

 

 

     JIM- 250 GT LWB Berlinetta, S/N 0925 GT. I have a soft spot for the TdF as I spent a fair amount of time driving S/N 0703 GT when it was at FAF Motorcars. Offered by Gooding. Unlike most of these models, this one was not raced in period. Sold to Bill Harrah and it kept a quiet life until sold in 1986.

     It passed on through several owners to end up in Germany where it has been used as intended with multiple Mille Miglia events and others. Restored, and more recently shown at concours events like Salon Prive and Hampton Court.

     While this Tour de France does not have racing history, it has good provenance and should be a sound investment. At one point these cars were nearly $10 million. Today’s estimate range is $4.5 to $5.2 million. It will be interesting to see what this one will bring.

 

 

     MITCH- F40 LM, S/N 95448. Offered by RM Sotheby’s. Estimate $8.5 million to $9.5 million. The F40 LM is my favorite, the penultimate Ferrari for me. I love the F40 and the LM is a faster, angrier version of an already fully mental Ferrari.

     This one is the 14th of 19 built and this particular car has been upgraded to GTC specs with 760 horsepower. If you squint your eyes just enough, you can see the genes of the 308 in the F40.

     This is pretty much your only chance to buy a real F40 LM. They come up for sale as often as Halley’s Comet comes by.

 

 

     JIM- 360 Spider, S/N 131367 offered by Broad Arrow. The 360 is not yet considered a collectible. Maybe one day, and probably not this particular car. With 24,732 miles it falls outside the truly collectible desirability range.

     This does not mean it should not be considered. Want to be seen in a Ferrari? Whether driving a 360 or something more exotic makes no difference to the general public. Most could not recognize the difference between the 360 and a F512 M. It is still a Ferrari and that is all that matters.

     This one is classic Rosso Corso with tan leather interior, Daytona-style seats and Challenge-style front grilles and Challenge rear grid. It was serviced in 2019 and comes with manuals and tools.

     The estimate range is $80,000 to $100,000. This is a reasonable price point to have a reliable and fun Ferrari to kick around in. It may be slightly more expensive than a new BMW but then you would be driving a BMW instead of a Ferrari!

 

 

     MITCH- 400 SA SWB Coupe Aerodinamico, S/N 2841 SA. Offered by RM Sotheby’s. Estimate $2.8 million to $3.2 million. Like the 400 SA Cabriolet offered by Gooding & Co., this is one of my favorite 1950’s era Ferraris.

     Well known previous owners include Greg Garrison and Skeets Dunn. Shown at the 1961 Paris Salon show, this car is the seventh short wheelbase 400 Superamerica Aerodinamico made, its design was the result of 250 SWB Sperimentale, S/N 2643 GT.

     These are startlingly beautiful Ferraris that will continue to appreciate in value and are welcome in any Concours d ‘Elegance around the world.

 

 

     JIM- 250 GT PF Cabriolet Series I, S/N 0801 GT. Offered by RM Sotheby’s. Beauty is in the eye of the beholder, and I think the Series I Cabriolet is one of Pinin Farina’s greatest creations.

     You can try to convince me the 250 Lusso, 275 GTB or even Daytona is the pinnacle of Pininfarina brilliance, but none of those come close to the elegance and simplistic lines of a Series I Cabriolet.

     This one is Grigio Metallizzato with covered headlights. The small bumperettes on each front corner provide an unencumbered view of the classic Ferrari oval grill with two large driving lights and chrome prancing horse in the center.

     Your body is invited to sit in plush seats, and the red interior wraps you in luxury. Controls and switches fall well within reach and can be controlled with minimal movement.

     A recent restoration, including reuniting of the original engine, makes this cabriolet a candidate for any respectable collection. With an estimate range of $5.7 million to $6.5 million it will be interesting to see where this one sells.

 

 

     MITCH- 365 GTB/4 Competizione, S/N 16343. Offered by Gooding & Co. Estimate $8 million to $10 million. One of 15 factory Daytona Competizione. This one is a Series III.

     If you want a truly historically significant racing Ferrari, this is an amazing opportunity. Extraordinary owners and race history including two entries in Le Mans and one win in Daytona. 16343’s last official competition run was in 1981 at Daytona with Al Unser at the helm.

     This car has the provenance, documentation and history that creates a $10 million Ferrari. The presence, sound and fury alone make it worth $10m.

 

 

     MITCH- 308 GTB QV, S/N 56241. Offered by RM Sotheby’s. Estimate $90,000 to $120,000. I am partial to 308 QVs because I have owned a GTS for almost 25 years. They are stunningly gorgeous cars and offer a tremendous driving experience for such small coinage.
The GTB QVs are very rare and only 748 were made. Like my own GTS, this GTB was sold new at Shelton Ferrari in Fort Lauderdale, FL.

     Sources say only 52 GTB QVs came to the U.S. from 1983-1985, while 1,349 GTS QVs came to the U.S., which proves Americans love their convertibles! Unless you run the car into a wall, it will always be worth what you paid for it, maybe MORE!

 

 

      MITCH- Daytona SP3, S/N 319682. Offered by RM Sotheby’s. Estimate $3.5 million. Factory Tailor Made one-off and the final SP3 made.

      Special editions always bring attention and rightfully so. Similar to the one-off yellow 812 Competizione Sketch car, this SP3 was built to be auctioned for charity, with proceeds to benefit The Ferrari Foundation.

     If a SP3 is too ordinary, here is your car. The only road-going Ferrari to use the logotype as livery! Most certainly an A+ investment grade Ferrari.

 

 

     JIM- 375 Plus, S/N 0478 AM. There are race cars and then there are race cars. This one was raced in period by the likes of Dan Gurney and Carroll Shelby. Crashed in 1955, it was rebodied by Jack Sutton. By 1957 it was back to its winning ways.

     It was retired to the Harrah Museum where it would stay until 1984. The 4.9-liter engine was the largest built by Ferrari in the 1950s. These were monster cars built to compete against the often-larger displacement, American hotrods in the California sports car scene.

     Preserved but unrestored this is a significate piece of history. The estimate range is $5.5 to 7.5 million. A spread of two million shows the uncertainty of true value. Since the 375 Plus model does not come up for sale often, value is difficult to determine.

     It would not be surprising for this example to bring even more than the estimate. The last sale of a 375 Plus was 0384 AM, and it also had been rebodied. It also had race history. That sale was in the $18 million range back in 2014, and things have cooled off since then, but we will see…

 

     Mitch and I didn’t tell each other what cars were on our list. Surprisingly the only car that appeared on both our lists was the 375 Plus!