$4.5 Million Ferrari Leads Classic Car Auction

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$4.5 MILLION FERRARI LEADS CLASSIC CAR AUCTION

The demand for classic Ferrari sports cars continued at the weekend (16-17 August 2008) with the legendary Italian sports car maker leading the tally at one of the world’s most important classic car annual auctions, the RM Auctions 'Sports & Classics of Monterey' auction event in the USA, with a 1961 Ferrari 250 GT SWB Berlinetta which brought a final bid of $4,510,000 leading a list of million dollar Ferraris.

“The strength of our European sales had a positive effect on the weekend's auction with many of our international clients in attendance. The sales were in-line with our expectations with several new records, and with seven of the eleven million dollar sales being vintage Ferraris, results indicate the continuing strength of the market for the world's most famous sports and racing marque," said Ian Kelleher, Managing Director of RM Auctions.

“RM's Monterey auction continues to bring together private sellers, longtime clients and end users, with cars changing hands and entering new collections where they will be enjoyed and appreciated for years to come," he added.

Held at the Portola Hotel & Spa in historic downtown Monterey, it was standing room only at the two day sale as over 170 investment quality collector cars crossed the block before an international audience. As the gavel fell for the final time, total sales surpassed $42 million.

The top seller of the sale was a show quality 1961 Ferrari 250 GT SWB Berlinetta which brought a final bid of $4,510,000. Another highlight was the 1961 Ferrari 400 Superamerica Coupe for an impressive $1,650,000. Also attracting significant interest on the block were the prestigious luxury cars – a 1933 Rolls-Royce Phantom II Special Town Car, which brought $2,310,000, and a 1930 Duesenberg Model J Dual Cowl Phaeton for $1,760,000.

Additional highlights included: an ultra rare 1948 Tucker Sedan which achieved a new world record price of $1,017,500; a 1967 Ferrari 275 GTB/4 Berlinetta for $1,925,000; and a 1973 Ferrari 365 GTB/4 Daytona Spyder which was won with a bid of $1,485,000.

The Million Dollars cars at the Auction:
Lot Day Year/Make/Model US$
447 SAT 1961 Ferrari 250 GT SWB Berlinetta $4,510,000
442 SAT 1956 Ferrari 250 GT Tour de France Berlinetta $3,900,000
453 SAT 1933 Rolls-Royce Phantom II Special Town Car $2,310,000
434 SAT 1967 Ferrari 275 GTB/4 Berlinetta $1,925,000
441 SAT 1930 Duesenberg Model J Dual Cowl Phaeton $1,760,000
452 SAT 1961 Ferrari 400 Superamerica Coupe Aerodinamica $1,650,000
443 SAT 1966 Ford GT40 MK1 $1,465,000
435 SAT 1973 Ferrari 365 GTB/4 Daytona Spyder $1,485,000
457 SAT 1929 Duesenberg Model J Convertible Coupe $1,413,500
466 SAT 1967 Ferrari 275 GTB/4 Berlinetta $1,375,000
439 SAT 1958 Chrysler Diablo Convertible Coupe $1,200,000
467 SAT 1972 Ferrari 365 GTB/4 Daytona Spyder $1,127,500
449 SAT 1948 Tucker Sedan $1,017,500
430 SAT 1965 Ferrari 275 GTB/6C Berlinetta $1,012,000

ENDS

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