Last month we reported on a Ferrari 250 GTO heading for the auction block at Pebble Beach. We knew at the time it would break records and bring in tens of millions of dollars. But now that the gavel is about to drop, it looks like even our projections could fall short.
According to a report on Bloomberg, citing the classic car authorities at Hagerty Insurance, the GTO in question (pictured above) could fetch upwards of $60 million and as much as $75 million when the auction takes place two days from now in Monterey, CA.
Hagerty's reported estimate would not only blow the previous records out of the water, but would eclipse the pre-sale estimate attributed to Bonhams, the auction house handling its sale, which placed its value between $30 million and $40 million.
The last time we heard of a 250 GTO trading hands (through a private party sale, as they usually do), it reportedly sold for $52 million. The current record for the most expensive car ever sold at auction was also set by Bonhams last year when it auctioned off Juan Manuel Fangio's 1954 Mercedes-Benz W196 "Silver Arrow" grand prix racer for nearly $30 million. Whether it's Bonhams' estimate, Hagerty's projection or the precedent of that last GTO that ultimately prevails, we're almost certain to have a new world record on our hands this weekend.Permalink | Email this | Comments
Among all the action at the Goodwood Festival of Speed this past weekend, Bonhams held its classic car auction, bringing in a massive $38.4 million in sales. And this was undoubtedly the highlight.
Bearing the chassis number 0384 AM, this 1954 Ferrari 375-Plus has a storied racing history, competing that year in such events as the 24 Hours of Le Mans, the Mille Miglia and the Silverstone endurance race, where the late José Froilán Gonzalez drove it to victory. One of only five made, the 375 Plus packed a 4.9-liter V12 with 330 horsepower under aluminum barchetta bodywork by Pininfarina. It was subsequently owned by Kleenex scion Jim Kimberly, trading hands between owners on both sides of the Atlantic and was the subject of a legal dispute over its ownership four years ago.
With the dispute now resolved and after heated competition between two bidders, the Ferrari finally sold for £10.7 million, equivalent to $18.2 million at today's rates and accounting for nearly half of the day's sales totals. Other highlights included a 1902 De Dietrich 16-HP "Paris-Vienna" Rear-Entrance Tonneau and a a '75 Lamborghini Countach, each of which sold for around $1.7 million - the latter eclipsing the example that Bonhams also recently sold for $1.2 million.Permalink | Email this | Comments
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We're plenty used to seeing classic cars selling for millions of dollars. It's just that they're usually European: Ferraris, Bugattis, Mercedes and the like. There are some rare American exceptions, usually wearing the names Duesenberg or Shelby. But what we have here is the most expensive Chrysler product ever sold at auction.
The vehicle in question is a Plymouth Barracuda - specifically a 1971 Hemi Cuda Convertible, chassis #BS27R1B315367 - that Mecum Auctions just sold after eight solid minutes of feverish bidding for a high bid of $3.5 million at its auction in Seattle, Washington. That figure positively eclipses the $2.2 million paid for a strikingly similar Hemi Cuda (chassis #BS27R1B269588) fetched nearly seven years ago in Scottsdale and another that was the first muscle car to break the million-dollar mark in 2002.
This rare Hemi Cuda convertible is one of just 11 made in 1971, one of just two four-speed examples delivered in the US, and the only one with its original powertrain. That makes this a unique matching-numbers example, helping to drive up its desirability and, subsequently, its price. Watch the footage from the auction floor below and check out the gallery of high-resolution images above for a closer look at what Mecum calls "the Holy Grail of muscle cars."
Lamborghini may have made headlines with the highly exclusive, $4.5-million Veneno and the even more expensive Veneno Roadster that followed, but when it comes to classics sold at auction, their prices seldom approach the kind of figures attained by rare classics made by arch-rival Ferrari. Early 350 GTs and rare Miuras (like the SV prototype Gooding sold a few years ago for a record $1.7 million) have been known to breach the seven-figure mark, but now the Countach is making its way into the big leagues as well.
Pictured here is a rather exceptional early example sold by Bonhams in Connecticut last week. This 1975 Lamborghini Countach LP400 "Periscopica" - so dubbed for the unique rearview mirror fitted to the first 150 examples made - has just over 10,000 miles on the odometer. With flawlessly retouched Blu Tahiti (read: French racing blue) paint and an immaculate deep tan leather interior, the Periscopica was the subject of feverish bidding before selling for $1.2 million to a buyer present at the auction, beating out a dozen or so telephone bidders.
The record price for a Countach trumps the previous record, also set by Bonhams at the Quail Lodge last August, where another '75 Periscopica sold for $836,000. The rising prices surely reflect the coming of age for the Countach, now nearly 40 years since its introduction - particularly for the generation that grew up idolizing it as the prototypical supercar. Scope it out in the artful gallery of 76 high-resolution images above and the details of the auction below.Permalink | Email this | Comments