D28
28th August 2013, 19:06
A recent auction at Pebble Beach, saw a Ferrari 275 GTB/4 NART Spyder, change hands for US $ 27.5 m, a US record and 2nd only to the Bonhoms sale of the M-B W196 F1 car. The buyer, L. Stroll already has a fleet of vintage racing Ferraris, plus a track to exercise them on, Mt Tremblant, a former Canadian GP site. One assumes that he is knowledgeable about Ferrari market values. The W196 sold for $29.650 M only about 7.8% more than the street Ferrari, which is rare but has no competition history at all. The M-B on the other hand was raced by JM Fangio to a world title and is the only one ever to be offered for sale. The Ferrari was owned by one Eddie Smith, mayor of Lexington N.C.
On the face of it the Ferrari price appears absurd. While an attractive rag top, its berlinetta brethren look better and some of them have competition histories. This model does have a Hollywood connection, appearing in the Thomas Crown Affair with Steve McQueen and Faye Dunnaway; McQueen owned and wrecked one. I am left wondering if this a reason for the inflated price. Something similar has influenced the price of the Aston Martin DB5 of the Bond movie, over much more significant models.
I cannot see this sale setting any trend for vintage Ferraris. Either the W196 sold way too low, or the NART Spyder was vastly overpriced. Still that is the nature of auctions, the price is what buyers are willing to pay. I just hope this doesn't influence the price of other vintage automobiles.
On the face of it the Ferrari price appears absurd. While an attractive rag top, its berlinetta brethren look better and some of them have competition histories. This model does have a Hollywood connection, appearing in the Thomas Crown Affair with Steve McQueen and Faye Dunnaway; McQueen owned and wrecked one. I am left wondering if this a reason for the inflated price. Something similar has influenced the price of the Aston Martin DB5 of the Bond movie, over much more significant models.
I cannot see this sale setting any trend for vintage Ferraris. Either the W196 sold way too low, or the NART Spyder was vastly overpriced. Still that is the nature of auctions, the price is what buyers are willing to pay. I just hope this doesn't influence the price of other vintage automobiles.