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Auction

FERRARI DOMINATES AT RM AUCTION

Ferrari, Ferrari 275/GTB-4, Steve McQueen

During the two-day event that took place in Pebble Beach, over 21 million dollars changed placed at the classic car auction hosted by auction house RM. During that auction the top six sellers were all Ferraris while the top four were all members of the 275 family. In total, 21 cars were sold for over one million dollars, 13 of those cars sold were Ferrari.

One of those cars was a 275 GTB/4 that was originally owned by Hollywood legend Steve McQueen. Exotic cars with Hollywood roots tend to sell well at auction, including those that belong to celebrities that are synonymous with racing and speed. Steve McQueen’s vintage Ferrari grabbed an impressive $10,175,000 at auction.

Other vintage examples of Italian muscle also did well at the Pebble Beach Rm Auction to include a 1971 Lamborghini Miura SV, which sold for just over $2 million. The most expensive non-Italian car to cross the block was a 1911 Mercer Type 35R, which pulled in a respectable $2.53 million.

STEVE MCQUEEN’S 1967 FERRARI 275 GTB/4 PULLS $9.25 MILLION AT AUCITON

Ferrari, Celebrity, Auction, Steve McQueen

As previously stated on this blog, RM Auctions had announced that Steve McQueen’s 1967 Ferrari 275 GTB/4 would cross their auction block in August. All previous expectations were surpassed when McQueen’s vintage Ferrari took in a rather respectable $9.25 million. Celebrity cars always generate excitement at auction, including those celebrities with Hollywood ties. McQueen is not just a Hollywood icon; his name will always be associated with speed and fast cars.

McQueen was in possession of this 1967 Ferrari 275 GTB/4 for four years before the vehicle was sold to a couple that have done an amazing job of preserving this piece of Hollywood history to include a complete restoration of the GTB/4 that was completed just a few years ago.

FERRARI 250 GTO SETS RECORD AT AUCTION

Ferrari, 250 GTO

Classic car prices are going through the roof with every auction that takes place. This time an ultra rare 1962 Ferrari 250 GTO set the record with a final bid of $34,650,000. After adding in the ten percent sales commission for the Bonham auction house, the final price for the vintage Ferrari came to $38,115,000. This is an $8 million increase over the last 250 GTO to come up for auction.

Within a minute of the opening bid, the price of the GTO rose from the $11 million starting price up to $31 million. The additonial $3.5 million in bids were delivered in $100,000 increments until the final price was reached. Even with a record breaking performance at auction, many experts still believed that this ultra rare example of the Ferrari 250 GTO should have went for much more.

Considered by many to be the most desired vintage Ferrari, this 1962 Ferrari 250 GTO is chassis number 19 of just 39 ever made. The car was originally owned for a short period of time by a French race car driver who crashed this particular example and then died shortly after. Upon restoration, this Ferrari remained with the same owner for 50 years before going to auction.

MINT CONDITION FERRARI F50 HEADS TO AUCTION

Ferrari, F50

The Ferrari F50 is considered by many to one of the greatest supercars of all time. With only 349 examples ever made, the demand for this Prancing Pony will always remain high. Silverstone Auctions has announced that an ultra-rare example of the Ferrari F50 will go across the auction block during the Salon Prive event on September 4th. This Ferrari F50 displays 6,300 original miles and is expected to bring around 1 million dollars.The 513 hp naturally aspirated V12 Ferrari F50 was originally sold to a customer in Germany who later had the supercar shipped to Japan where it has remained until auction.

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