Classic Car Capital
1962 Ferrari 250 GTO
1962 Ferrari 250 GTO

Ferraris Sold at Auction in 2014

Auction Editor Rick Carey reported from 30 different auctions in 2014, starting with the Scottsdale, Kissimmee and Paris sales, moving quickly into the Amelia Island sales and continuing on a frenetic pace throughout the rest of the year.

Ferraris — the unquestioned epicenter of the collector car market — were a huge focus of Carey’s reports, with no less than 169 of Maranello’s finest methodically examined in 2014. They ranged from modern variants you wouldn’t wish upon your worst enemy to the belle of any ball, the 250 GTO.

Carey said, “The top of the market (usually attached to the marque ‘Ferrari’) is steaming hot. Cars like 250 GT Pf Coupes once were candidates for sacrifice to make Testa Rossa replicas. They now bring enough money to hire Scaglietti to re-create the original style bodywork.”

The biggest — both in dollars and in publicity — sale of 2014 occurred when Bonhams sold the Maranello Rosso Collection’s 1962 Ferrari 250 GTO (s/n 3851 GT) for $38,115,000 at their Monterey Week sale, breaking the all-time auction record set only last year by the 1954 Mercedes-Benz W196R that Bonhams sold for $29,650,095 at their Goodwood Festival of Speed sale. A staggering price indeed, but far less than $50-75 million many ‘experts’ dreamed up. Carey said the GTO sale represented, “a benchmark for considered, thoughtful, realistic valuations in the face of vast hype.”

The impressive auction results from the Monterey Classic Car Week further cemented Ferrari as the place to be in the collector car market. Carey commented, “It’s Ferrari that made the difference, with $205.9 million in 39 sales over $1 million hammer, 78.1% of the Monterey over $1 million transactions. How important? The 2014 Ferraris greater than $1 million were up a staggering 98.6% from 2013, $12 million more than the total value of all the cars sold in Monterey in 2011. Just in million dollar Ferraris.”

Will this upward trajectory continue in 2015 and beyond? We’ll soon know with the Scottsdale auctions coming up soon in mid-January, followed quickly by the Kissimmee and Paris sales. One certainty is that Rick Carey will continue to offer up his educated opinions about market trends and values going forward.

Listed in chronological order, Rick Carey’s reports on the 169 Ferraris analyzed in 2014:

Bonhams Scottsdale 2014 – Auction Report

1976 Ferrari 308 GTB Fiberglass Coupe
Lot # 107 1976 Ferrari 308 GTB Fiberglass Coupe; S/N 19579; Engine # 1770; Yellow/Tan leather; Estimate $75,000-$100,000; Unrestored original, 2- condition; Hammered Sold at $104,000 plus commission of 10.00%; Final Price $114,400. A/C, P/W, AM-FM, Michelin XWX blackwall tires. – Good mostly original paint, many gel coat cracks. Sound lightly stretched driver’s seat cushion with no bolster wear. Clean underbody. Good dash top. Lifting wheel paint and some corrosion. – The early fiberglass 308 GTBs still attract a significant premium over their later steel bodied siblings, as this result indicates and despite the tender nature and wavy surfaces of their vetroresina body shells. Even their rarity and perceived value doesn’t support the price of this high original example. It is an expensive car.
1966 Ferrari 275 GTB/6C Coupe
Lot # 112 1966 Ferrari 275 GTB/6C Coupe, Body by Scaglietti; S/N 08327; Engine # 08327; Celeste Blue/Black leather; Estimate $2,200,000-$2,600,000; Older restoration, 3+ condition; Hammered Sold at $2,400,000 plus commission of 10.00%; Final Price $2,640,000. Chrome spoke Borrani wire wheels, Michelin XWX blackwall tires. – Good paint, chrome and interior. Engine shows use, some oil residue and chips. Underbody given a new coat of sealer over old, partially peeled off undercoat. Ferrari Classiche inspected but apparently not certified. – Slotting nearly into the middle or Bonhams’ estimate range, this attractive and rare 6C continues the steep upward curve of the best V12 Ferraris.
1990 Ferrari Testarossa Coupe
Lot # 124 1990 Ferrari Testarossa Coupe; S/N ZFFSG17A1L0087096; Red/White leather; Estimate $70,000-$90,000; Unrestored original, 2 condition; Hammered Sold at $81,000 plus commission of 10.00%; Final Price $89,100. No Reserve. – Good paint and interior showing almost no evidence of use appropriate to the 6,368 miles it has covered from new. – A clean, well maintained, original Testarossa that brought a premium price for its preservation and low miles. The result is a little optimistic, but not by enough to call it expensive.
 2010 Ferrari 599XX Coupe
Lot # 157 2010 Ferrari 599XX Coupe; S/N ZFF69PXX000170902; Red, White / Black; Estimate $1,200,000-$1,500,000; Competition car, original as-raced, 2 condition; Not sold at Hammer bid of $920,000 plus commission of; Final Price $920,000. Track spares, wheels and tires, manuals, documents. – Like new, with no apparent track time. Serviced and run ‘periodically’ while on display only from new. – Is this the sign the bloom is off the 599XX rose after some exceptional sales? Only time will tell.
1968 Ferrari 330 GTC Coupe
Lot # 162 1968 Ferrari 330 GTC Coupe, Body by Pininfarina; S/N 11247; Engine # 11247; Rosso Chiaro/Tan leather; Estimate $675,000-$750,000; Older restoration, 2- condition; Hammered Sold at $730,000 plus commission of 10.00%; Final Price $803,000. Chrome spoke Borrani wire wheels, Michelin XWX tires, Becker Europa II AM-FM, P/W, Ferrari Classiche certified. – Excellent paint and chrome. Underbody shows some dust from road use, but the rest of the car is beautiful with slight wear and light creasing of the upholstery. FCA Platinum in 1999, 2006, 2009 and 2013. – Not quite fresh any more but still an outstanding exemplar of one of Ferrari’s and Pininfarina’s most beautiful and satisfying automobiles, the price here represents a leveling-off of ever-expanding 330 GTC values, a good thing.
1951 Ferrari 212 Export Coupe, Body by Touring
Lot # 173 1951 Ferrari 212 Export Coupe, Body by Touring; S/N 0088E; Engine # 0088E; Dark Red/Beige; Estimate $3,000,000-$4,000,000; Competition restoration, 2+ condition; Hammered Sold at $2,900,000 plus commission of 10.00%; Final Price $3,190,000. RHD. Chrome spoke Borrani wire wheels, Blockley blackwall tires, Jaeger dash-mounted chronometer. – First owned by Augusto Caraceni, scion of the first family of Italian men’s tailors, described as ‘The Tailor’s Car’. Five Italian owners well documented before coming to the US in the early 60’s, owned since 1969 by the consignor. Freshly restored by marque experts including Charles Betz and Fred Peters, with excellent paint, chrome, interior and engine. Better than new. – A part of the foundation of the Ferrari legend, raced when new and impressively restored without ruining its history or appeal. Its early Italian racing history assures it of serious consideration for the most desirable historic events, it may not keep up with a TdF or 250 GT SWB but it will make serious pace and is a choice classic Ferrari, bought appropriately, and maybe even a little economically. A sound value.
1967 Ferrari 330 GTC Coupe
Lot # 176 1967 Ferrari 330 GTC Coupe; S/N 09983; Engine # 09983; Verde Chiaro/Black leather; Estimate $550,000-$700,000; Visually maintained, largely original, 3- condition; Hammered Sold at $600,000 plus commission of 10.00%; Final Price $660,000. Centerlock Campagnolo alloy wheels, Michelin X blackwalls, P/W, Sony cassette stereo, Ferrari Classiche certified. – Good paint and chrome but worn old upholstery with seams pulled on driver’s cushion. Underbody has old undercoat and a fenderwell-fender tab is rusted away. A pretty, but shaky, driver cosmetically restored in Italy in 2010. – Generously price for its condition and the erratic cosmetic restoration. The buyer got a modestly priced 330 GTC, but not a good 330 GTC for the money. This car has no good surprises.
1988 Ferrari 328 GTB Coupe, Body by Pininfarina
Lot # 191 1988 Ferrari 328 GTB Coupe, Body by Pininfarina; S/N ZFFXA19A9J0078714; Engine # 14889; Red/Tan leather; Estimate $65,000-$75,000; Unrestored original, 3+ condition; Hammered Sold at $75,000 plus commission of 10.00%; Final Price $82,500. A/C, P/W, cassette stereo, Bridgestone tires. – Good original paint and interior appropriate to the 7,133 miles on the odometer and claimed to be from new – Sold at Russo and Steele in Scottsdale in 2011 for $31,350, Originality aside, there is little to support more than doubling the price in the intervening three years.

RM Auctions Arizona 2014 – Auction Report

1990 Ferrari F40
Lot # 082 1990 Ferrari F40; S/N ZFFMN34A9L0087085; Rosso Corsa/Red cloth; Estimate $800,000 – $1,000,000; Unrestored original, 2- condition; Hammered Sold at $850,000 plus commission of 10.00%; Final Price $935,000 – 2936/478hp, twin-turbo, 5-speed, Pioneer radio. – Seats lightly worn. Otherwise practically as new. Displayed for some time at the Petersen Museum, it has been recommissioned and is ready to be enjoyed as one of the finer examples of this iconic supercar out there. – Sold for $715,000 ten months ago at Gooding’s Amelia Island sale. Although it’s rare to see an F40 with more than a few miles the interior materials and not up to even a little use and quickly show scuffing and abrasion. It’s hard to keep up with the rate of F40-inflation, of which this is a good example.
1966 Ferrari 330 GT 2+2 SII, Body by Pininfarina
Lot # 086 1966 Ferrari 330 GT 2+2 SII, Body by Pininfarina; S/N 8251; Engine # 8251; Silver/Black leather; Estimate $260,000 – $300,000; Visually maintained, largely original, 3- condition; Hammered Sold at $280,000 plus commission of 10.00%; Final Price $308,000 – 3967/300hp, 5-speed, triple Webers, Centerlock alloy wheels, Michelin XWX radial tires, Blaupunkt radio. – 84,813 km. Good original chrome and interior. Clean engine bay. Tired original paint and wheels with numerous flaws. The more desirable two headlight version and mechanically sound thanks to the care of only three owners from new, regular service and a ten year old overhaul drivetrain, but in serious need of cosmetic attention. – This 330 GT 2+2 is reassuring in its originality and regular attention which may account for its generous price, but it shows its age and will have to appeal to the limited cadre who have seen too many restored cars and appreciate one that has never been apart and wears its history of use proudly.

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Show Comments (13)

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  1. when I think that we were taking in trade fo an MG B!! in the mid to late 60’s such thing as a jaguar XK120 “M ” alloy
    body lemans car gold cylinder head!!
    & all the cars that passed trough my hands, i remember the Boston dealer showing me his invoice asking to by a little
    “Under invoice” to quiet his bank! I had purchased a brand new flyellow 1979 GTS that way!
    + the last run of Dino 246 GTS spécial treatment fender flares wide wheels, the dealer offered me to purchase two of them at below invoice price, to please his bank remove them from his floor plan
    & hello Rick Carey, my old Customer friend!

    1. Hi, Serge.
      It’s the old thing: If only we still had the [fill-in-the-blank] we bought in 1968 for $4,000!
      Of course it would have cost us a gazillion dollars to keep up for the past half-century, but that is so easily overlooked in the excitement over six- and seven-figure prices that don’t take into account the current purchasing power of four thousand 1968 dollars.
      If I get to Retromobile this year I’ll let you know and perhaps we can meet up to laugh about the rickety old cars we dismissed decades ago that now are venerated.
      Rick

  2. I think Ferraris, especially early ones are among the finest, most interesting cars in the world. But I’m am TOTALLY SATURATED with the news of “Ferraris selling” in 2014. It would be great if the motor press would refocus on other brands, maybe more real world and affordable, cars to work on and drive. The art world does the same thing with the sales of the finest of fine art. What’s the big deal of someone throwing down 10 million or 35 million for a car? Why is that newsworthy?

  3. The biggest shock for me this year is you can buy a very nice low mileage 90s Testarossa for a lot less than a nice Mercedes 190sl ! Madness !!!

  4. Hi Rick, I understand the collector market’s disdain for the “Gas Monkey” stuff. The fact that they had the audacity to take on a Ferrari build is to be commended. I’m sure when it came to sourcing parts, there were more than a few road blocks: “who is this?, oh, we don’t sell those to just anybody, there are for our ‘cliente'”. And even tho’ the ‘get it down in 7 days’ stuff makes for good TV, those builds they do are clearly multi-month affairs. You can watch the seasons change in the back ground.

    1. Fran,
      There is very little ‘reality’ in ‘reality TV.’
      I’ll leave it at that.
      On the other hand, Richard Rawling and Dennis Collins are — pure and simple — car guys. They’re in it because the wallow in it and love every bit of the foolishness they experience and create.
      I am proud to count both of them among my friends. Richard worked for years to develop the concept of ‘Fast and Loud’ and his success today is an example of what an individual can do in the American Free Enterprise System if they believe, persist, are creative, adaptable … and have the gift of gab.
      Will I be happy when the automobile ‘reality’ shows go away? Absolutely. They’re foolish.
      But when it happens I hope Richard and Dennis are happily situated in the ‘1%’ atop piles of cash and cars they can continue to play with — because playing with cars is what they do.

      Rick

  5. I think there is a mistake here :”The 456 was superseded in 1999 by the 550, so where does this 456 M fall as a 2003 model?” – As far as I know, the 456 GT was superseded in 1999 by the 456M GT. Production ended in 2003 when it was replaced by the 612 Scaglietti. The 550 Maranello is a two-seater and has not replaced the 456.

  6. 1471GT
    As a former owner of this car I agree with much of the description. However this car was rebuilt by the Ferrari factory, as well as Garge Pesa, as well as Ferrari of Monterey. To call the engine compartment a mess is pretty confusing. This car is very original and complete. The rust is a big issue………but the car runs as it should. The engine is perfect.
    I do agree that 480K was a generous offering for this car.

    1. I didn’t actually call it ‘a mess’, I called it ‘ugly, disorganized’ which it was. ‘Original’ is one thing. ‘Scruffy’ is another. Is it ‘very original and complete’? Perhaps, but it is so deteriorated and ratty those attributes have lost all consequence.

      1. Thank you for your response. I am assuming that you have seen this car in person. In your opinion what would the ballpark cost be to get rid of all the rust and have the car ready to paint? I had always guessed about 350K to restore completely. I am beginning to think that may be a bit low.

    2. Rick,
      Thank you for discussing Ferrari #1471 on your excellent site.
      I acquired #1471 Ferrari 250GTPF 1959, and because it’s historical significance, I am restoring it to exactly as it was when first introduced at the 1959 Frankfurt Auto Show, and acquired by the Prince of Sweeden. Mr.Enzo Ferrari serviced Ferrari 1471, for his friend, the Prince, annually.
      It’s original Bianco/Grigio and Red hides will be unveiled this year.
      Best Racing Experiences,
      Kevin Pauza

      1. Kevin,
        I am so glad 1471 will be restored…….and to the original colors is most excellent. This is a task I had hoped to accomplish, but was unable financially to complete. I would love to talk to you in person about the car. If you would like to contact me feel free.
        [email protected]