RM Sotheby’s sold 20 Ferraris for over a million dollar at the special Ferrari auction in Maranello. A LaFerrari Aperta sold for $10 million as a charity lot.
RM Sotheby’s Ferrari Leggenda e Passione 2017 sale included 20 Ferraris that achieved over $1 million. The top result was a magnificent $10 million (€8.3 million) for the 210th 2017 Ferrari LaFerrari Aperta that Ferrari donated to Save the Children. The second highest result was $9.5 million for a 1959 Ferrari 250 GT LWB California Spider. Several cars sold for well above estimate with a 2016 Ferrari 488 Spider “Green Jewel” a surprise million-dollar result four times lower estimate. A Ferrari 812 Superfast Wind Tunnel scale model sold for $726,000 – double estimate.
RM Sotheby’s Ferrari Maranello Auction 2017
RM Sotheby’s and Ferrari teamed up for a special Ferraris-only classic car auction at the Ferrari racetrack near Maranello and Modena in Italy on 9 September 2017. The sale resulted in earnings of €63 million with a high 93% sell-through rate.
A phenomenal 20 Ferraris – nearly half of all the cars on offer – sold for more than a million dollar. Many cars sold for well above pre-sale estimates. The only two top cars failing to reach reserve margins were the 1960 Ferrari 250 GT SWB Berlinetta Competizione and a 1994 Ferrari 333 SP.
Million-Dollar-Plus Cars at the RM Sotheby’s Ferrari 2017 Sale
The following 20 cars sold for more than a million dollar at the RM Sotheby’s Ferrari Maranello 2017 sale:
|Year||Car||Price ($)||Price (€)||Estimate (€)|
|1||2017||Ferrari LaFerrari Aperta||10,043,000||8,300,000||3,000,000 – 4,000,000|
|2||1959||Ferrari 250 GT LWB California Spider||9,504,550||7,855,000||7,500,000 – 9,500,000|
|3||1958||Ferrari 250 GT Cabriolet Series I by Pinin Farina||5,709,990||4,719,000||4,700,000 – 5,500,000|
|4||1955||Ferrari 750 Monza||4,083,750||3,375,000||3,400,000 – 3,800,000|
|5||1985||Ferrari 288 GTO||3,948,230||3,263,000||3,250,000 – 4,000,000|
|6||1966||Ferrari 275 GTB Alloy||3,541,670||2,927,000||2,400,000 – 2,800,000|
|7||1953||Ferrari 250 Europa Coupé by Vignale||3,473,910||2,871,000||2,800,000 – 3,200,000|
|8||1973||Ferrari 365 GTS/4 Daytona Spider||2,999,590||2,479,000||2,100,000 – 2,600,000|
|9||2004||Ferrari Enzo||2,796,310||2,311,000||1,800,000 – 2,000,000|
|10||2013||Ferrari LaFerrari Prototype||2,576,767||2,129,560||1,100,000 – 1,300,000|
|11||1969||Ferarri 365 GTB/4 Daytona Berlinetta Alloy||2,186,470||1,807,000||1,400,000 – 1,700,000|
|12||1967||Ferrari 330 GTS||2,152,590||1,779,000||1,800,000 – 2,200,000|
|13||1997||Ferrari F50||2,152,590||1,779,000||1,625,000 – 1,850,000|
|14||1964||Ferrari 250 GT/L Berlinetta||2,050,950||1,695,000||1,500,000 – 1,800,000|
|15||1966||Ferrari 500 Superfast Series II||1,978,350||1,635,000||1,600,000 – 2,300,000|
|16||1960||Ferrari 250 GT Cabriolet Series II||1,671,494||1,381,400||1,350,000 – 1,650,000|
|17||2011||Ferrari 599 SA Aperta||1,388,112||1,174,200||1,100,000 – 1,400,000|
|18||2016||Ferrari 488 Spider “Green Jewel”||1,319,142||1,090,200||250,000 – 350,000|
|19||1989||Ferrari F40||1,305,590||1,079,000||950,000 – 1,100,000|
|20||1950||Ferrari 195 Inter Coupé by Touring||1,089,000||900,000||1,100,000 – 1,500,000|
Note: Prices include auction premium. Sale in euro, converted at €=$1.21.
2017 Ferrari LaFerrari Aperta
The top result at the RM Sotheby’s Ferrari Maranello 2017 sale was €8,300,000 ($10,043,000) for a 2017 Ferrari LaFerrari Aperta that Ferrari and RM Sotheby’s offered as a charity lot to benefit Save the Children. This result set several new records: clearly the highest price ever paid for a LaFerrari Aperta or a LaFerrari; the most-expensive 21st century car sold at auction and probably also the highest price paid for a new car or, as in this case, a car not yet build.
The record-setting 2017 Ferrari LaFerrari Aperta will be the final of 210 cars built. As with the LaFerrari Berlinetta, Ferrari donated the final car for charity. The 500th LaFerrari Berlinetta was sold by RM Sotheby’s for $7,000,000 at a special auction in 2016. The record for a used LaFerrari is $5,170,000 paid at Mecum Monterey 2016. No used Ferrari LaFerrari Aperta has yet been offered at public auction.
The 2017 Ferrari LaFerrari Aperta was hammered at €8,300,000 with RM Sotheby’s not charging any premium but as a new car the new owner will have to pay taxes and registration fees as applicable wherever the car is registered first. The car is still to be built but the intention is a unique design in red with white stripes.
The Ferrari LaFerrari Aperta was only the fifth car thus far in 2017 to have sold for over $10 million – even without the charity connection, the car almost certainly would have made it onto the top 10 list for 2017.
1959 Ferrari 250 GT LWB California Spider
With the 1960 Ferrari 250 GT SWB Berlinetta Competizione failing to sell the top regular auction result was €7,855,000 ($9.5 million) for the 1959 Ferrari 250 GT LWB California Spider. Although at the lower end of the pre-sale estimate, the price paid was stronger than recent results for the model.
This 1959 Ferrari 250 GT LWB California Spider was the 35th of only 50 LWB California Spiders built with Scaglietti coachwork and is a matching numbers example in a fully restored condition. It won 35 concours awards between 1988 and 1992 but was only shown at the XII Palm Beach Cavallino Classic in 2003 where it won a platinum award.
1958 Ferrari 250 GT Cabriolet Series
The 1958 Ferrari 250 GT Cabriolet Series I by Pinin Farina, chassis 0791 GT, sold just within estimate for €4,719,000. This was a reasonably result but weaker than two similar cars achieved in 2014. Gooding sold a similar car for just below $5 million at Pebble Beach 2017.
This 1958 Ferrari 250 GT Cabriolet Series was the 14th of 40 Series I cabriolets built with Pinin Farina coachwork. Originally, these cabriolets were more expensive than the Scaglietti-bodied California Spiders. The car on offer is in the correct white over blue but the engine is a period-correct rather than original engine.
1955 Ferrari 750 Monza
The 1955 Ferrari 750 Monza by Scaglietti, chassis 0534 M, was at €3,375,000 the the most-expensive racing car sold at the RM Sotheby’s Ferrari 2017 sale. Although just below estimate, the result was near previous results and reasonable given the changes to the original car.
The car was raced in period in Italy, Cuba and Venezuela with its most significant result first in class at the Premio Ciudad Ojeda in 1959. As an active racing car, the vehicle was changed and developed and not as it left the factory. It has its original gearbox but the engine is a period-replacement rebuilt unit. The car participated in the Mille Miglia Storica four times in the last decade.
1985 Ferrari 288 GTO
Although the €3,263,000 result for the 1985 Ferrari 288 GTO was near the lower end of the presale estimate, it was still a very strong result for this model. Ferrari 288 GTO prices have been hard to predict at recent auctions – some very strong results were achieved but the sole 288 GTO on offer during Monterey week 2017 attracted hardly any bidding despite a lower estimate of only $1.8 million.
The 1985 Ferrari 288 GTO on offer at the RM Sotheby’s Ferrari 2017 was helped by its excellent original condition. It has covered only 729 km from new and had the same owner since 1993. Describing the car as one of only 19 “lightweight” examples that were ordered without radio or power windows may be pushing it a bit.
Further Top Ferrari Results at Maranello 2017
Most of the other million-dollar-plus Ferraris at the RM Sotheby’s Ferrari 2017 sale achieved results within or above pre-sale estimate. In a few cases well above estimate:
2016 Ferrari 488 Spider “Green Jewel”
The surprise result at the RM Sotheby’s Ferrari 2017 sale was €1,090,000 for the 2016 Ferrari 488 Spider “Green Jewel” – the realistic pre-sale estimate was a more modest €250,000 – €350,000, more or less what a new car would cost depending on specification.
The “Green Jewel” is of course painted green and was one of the first of the 70th anniversary of Ferrari cars presented to the public. The color scheme and number 25 were inspired by the 365 P2 that David Piper drove to victory at Kyalami 9 Hours in both 1965 and 1966. It was shown at amongst other the Paris, Shanghai and Finali Mondiali 2016 shows. Although this is the only 488 Spider Ferrari will make in this color scheme and specification, the price is a bit rich.
2010 Ferrari 458 Italia
A strong €385,250 was also achieved on the unique camouflage painted 2010 Ferrari 458 Italia, estimate €250.000 – €350.000, that originally belonged to Lapo Elkann, Fiat heir and grandson of Gianni Agnelli. He had the camouflage theme extended to the engine bay and interior of the car. Peace signs replaced prancing horses on the front wings.
Lapo Elkann retained the car until it was sold for €1 million in a charity sale at the amfAR Cinema Against AIDS Gala dinner during the Cannes Film Festival in 2016. Even excluding the charity auction result, this car took at $466,152 the model record from Justin Bieber’s 2011 Ferrari 458 Italia that sold for $434,500 at Barrett-Jackson Scottsdale 2017.
2013 Ferrari LaFerrari Prototype
The 2013 Ferrari LaFerrari Prototype also sold for well above estimate when it achieved $2,576,767 – nearly double estimate. The result is cheap for a LaFerrari but less so for a Prototype that is not homologated and required a separate contract with Ferrari to never try and adapt the car for street use.
Given the low mileage of some of the LaFerraris offered thus far at auction, this may be less of a restraint than it appears at first.
Ferrari 812 Superfast Wind Tunnel Model
The Ferrari 812 Superfast Wind Tunnel Model similarly sold for near double pre-sale estimate when the 1:2 scale model achieved $726,000 at the RM Sotheby’s Ferrari 2017 sale.
This half-size model is made mostly of carbon fibre and was used in the wind tunnel to improve downforce without adding unnecessary drag. The result may inspire Ferrari to have a look around the garage and sell of a few further superfluous leftovers from the design process.
1969 Ferrari 365 GTB/4 Daytona Berlinetta Alloy
The “barn find” 1969 Ferrari 365 GTB/4 Daytona Berlinetta Alloy by Scaglietti, sold for above estimate €1,807,000 – a very rare Ferrari and a rare above a million-dollar result for a Daytona Berlinetta. This 1969 Ferrari 365 GTB/4 Daytona Berlinetta Alloy, chassis 12653, is considered to be the only road-going alloy 365 GTB/4 Daytona in existence – five others were made for competition. This car has been in Japan since 1971 and has been hidden for the past four decades – parked near a building site judged by the amount of dirt on the vehicle.
It is in a complete and highly original condition but like a barn find will require a comprehensive restoration that will add considerably more than just auction premium to the hammer price.
Top Modern Ferraris
In addition to the LaFerraris, several further modern Ferraris also had strong results at the RM Sotheby’s Ferrari 2017 sale:
- The 1997 Ferrari F50 sold for $2,152,590 near upper estimate. This was a good if unremarkable result for an F50 that has covered around 14,000 km since new.
- The 2011 Ferrari 599 SA Aperta sold for $1,388,112 – at least the fourth of this model to sell for above a million dollar.
- The 1989 Ferrari F40 sold for $1,305,590 – near upper estimate. Ferrari F40s are not automatically million-dollar results – partly due to high production numbers but also with some having been driven harder than others.
RM Sotheby’s next auction is Hershey in October but for top Ferraris and similar cars buyers have to wait until the New York Icon sale in December 2017.
See also 2017 RM Sotheby’s Ferrari Maranello Sale Preview for more on these cars.