1959 Ferrari 250 GT LWB California Spider Alloy
1959 Ferrari 250 GT LWB California Spider Alloy

Ferraris Sold at Auction in 2016

Ferraris were once again the undisputed focal point of the collector car marketplace in 2016. Given their importance to the markets, they were also the center of attention in Auction Editor Rick Carey’s reports on Sports Car Digest, with nearly 190 of Maranello’s finest methodically examined this year.

Examples that went under Carey’s microscope included a 430 F1 with “interior carbon fiber trim [that] looks like it came out of a J.C. Whitney kit” to a fabulous alloy-bodied 250 GT LWB California Spider that sold for $18,150,000. Carey reported the latter was “sold by Gooding in 2010 for $7,260,000 before the most recent cosmetic work by Bob Smith Coachworks but even taking that considerable expense into account this is a serious price, effectively doubling its value in six years.”

Although not directly analyzed by Carey, the top auction price of 2016 also went to a Ferrari, the 1957 335 S Spider Scaglietti that sold for $35,711,359 (€32,075,200, £24,693,782) at the Artcurial Retromobile auction in February. Notably, using the Euro and Sterling, the sale price for the 335 S broke the all-time auction record set in 2014 by the 1962 Ferrari 250 GTO (€28,528,626, £22,843,633), although it finished second when converted to dollars.

What will happen to Ferrari prices in 2016 and beyond? Will the Trump presidency usher in a new wave of optimism in the markets? We’ll soon know with the Scottsdale/Kissimmee auctions coming up soon in January, followed quickly by Paris sales.

(See Ferraris Sold at Auction in 2015)
(See Ferraris Sold at Auction in 2014)

Listed in chronological order, Rick Carey’s reports on the 187 Ferraris analyzed in 2016:

Ferraris Sold at Auction in 2016

Mecum Kissimmee 2016 – Auction Report

1986 Ferrari Testarossa Coupe, Body by Pininfarina
Lot # T87.1 1986 Ferrari Testarossa Coupe, Body by Pininfarina; S/N ZFFSA17A6G0060807; Red/Black leather; Unrestored original, 3+ condition; With Reserve; Hammered Sold at $125,000 plus commission of 10.00%; Final Price $137,500 – Single mirror, aftermarket alloy wheels, BF Goodrich tires, locking filler cap, fire extinguisher, power windows, air conditioning. – Nothing advertised regarding maintenance or history. Dull wheels. Decent original paint. Fairly worn, dull interior. No service history is represented, and although it’s a sound car, its overall condition is worse than most others like it. A flying mirror Testarossa would ordinarily be noteworthy, but this car was overshadowed at this sale by the white Miami Vice car. – Despite the unknown history and used presentation, this car brought a very healthy price for a Testarossa in this condition. It’s an expensive car that in less than 1,000 miles will be overdue for its 30,000 mile service, when it will become an even more expensive one.
1974 Ferrari Dino 246 GTS Targa, Body by Scaglietti
Lot # T200.1 1974 Ferrari Dino 246 GTS Targa, Body by Scaglietti; S/N 08252; Fly Yellow/Tan leather with Black inserts; Older restoration, 2- condition; With Reserve; Not sold at Hammer bid of $400,000 – Campagnolo wheels, Michelin tires, chairs and flares, Borletti air conditioning, power windows, Momo steering wheel, Alpine CD stereo. – Claimed to have been used in films “Cannonball Run”, “Sharky’s Machine” and “Stroker Ace” but only offers a 1984 Ferrari Market Letter as evidence. 2001 repaint that is quite good but showing its age with a handful of small chips in the nose. Excellent targa top. Bumper rub strips are a little wavy. Some light scuffs on the seats, but otherwise pretty good interior. Desirable options and pretty colors, but this isn’t the world’s best. – Sold by Barrett-Jackson in 2002, back when even chairs and flares Dinos were relatively affordable and when this car’s restoration was fresh, for $78,100. Almost a decade and a half later, the appreciation for Ferraris with less than 12 cylinders has really grown and in today’s market, $400K for even this well used chairs and flares Dino isn’t enough. Another 10 percent would have been closer to the mark.
1973 Ferrari 365 GTB/4 Daytona Coupe, Body by Scaglietti
Lot # T203 1973 Ferrari 365 GTB/4 Daytona Coupe, Body by Scaglietti; S/N 16109; Fly Yellow/Black leather; Older restoration, 2- condition; With Reserve; Not sold at Hammer bid of $800,000 – Ansa exhaust, Borrani wire wheels, Michelin XWX tires, Simpson racing belts, power windows, Alpine cassette stereo, Borletti air conditioning, Momo steering wheel. – Nut and bolt restored in the 90s and 8k miles ago. Small chip at the top of the hood. Otherwise good, but not great older paint. Ansa stickers are wearing off. Used but tidy engine bay. Lightly worn seats and switchgear. Little bit of road dirt underneath. Restored then used. By classic Ferrari standards, it’s a decent driver. – The reported high bid was plenty, even generous for a Daytona in this condition, so why it didn’t see the car off to a new home is a mystery.
1967 Ferrari 330 GTC Coupe, Body by Pininfarina
Lot # T206 1967 Ferrari 330 GTC Coupe, Body by Pininfarina; S/N 9955; Engine # 9955; Rosso Corsa/Tan leather; Older restoration, 2- condition; With Reserve; Not sold at Hammer bid of $600,000 – Ansa exhaust, Borrani wire wheels, Michelin XWX tires, woodrim steering wheel, Becker Europa radio, wood dash, power windows, power brakes. – Excellent two year old upholstery. The rest of the interior is very good and without major flaw but older. Engine bay shows plenty of signs of age and use. Very good, not show-stopping paint. Some road dirt on the underbody and pitting on the exhaust. Restored in the late 1990s and enjoyed. Really just a driver, but a pretty one. – The 330 GTC will never command the same respect and collectability of its peers like the 275 GTB, but their more winsome traits have caught the attention of collectors over the past few years and they are no longer the tempting value in Enzo-era V-12s that they once were. The Kissimmee bidders were a bit behind the curve on this one. While imperfect, it could have asked another $100,000, so hanging on to it was a reasonable choice.
1985 Ferrari 308 GTS Targa, Body by Pininfarina
Lot # F52 1985 Ferrari 308 GTS Targa, Body by Pininfarina; S/N ZFFUA13A6F0057063; Red/Black leather with Red inserts; Unrestored original, 3+ condition; No Reserve; Hammered Sold at $47,000 plus commission of 10.00%; Final Price $51,700 – Alloy wheels, Goodyear Eagle GT tires, roof spoiler, dual mirrors, power windows, air conditioning, Kenwood CD stereo. – Bad, crinkly repaint on the bottom front lip. KM on the speedo but it has US bumpers. Decent exterior plastic. Worn leather steering wheel rim. Otherwise really well kept interior. Good shiny paint. Very good roof vinyl. Showing 57,362 km and advertised with a recent service, it’s your standard used 308 GTS. – A no reserve lot, this decent 308 GTS sold in 2016 for 2014 money.
 1990 Ferrari 348ts Targa
Lot # S14 1990 Ferrari 348ts Targa, Body by Pininfarina; S/N ZFFFG36A6L0087190; Rosso Corsa/Tan leather; Unrestored original, 2- condition; With Reserve; Hammered Sold at $54,000 plus commission of 10.00%; Final Price $59,400 – Bridgestone tires, limited slip, heated rear window, power windows, air conditioning. – Showing 6,883 miles and serviced in April 2015, including new belts, bearings and valve cover gaskets. Small gouge and a few scratches in the plastic front lip. Very good paint and clean underbody. Two small scuffs on driver seat and console but otherwise fantastic original interior. Barely used, but also maintained in good condition. – Sold by Mecum in Chicago last October for $61,600, the seller read the tea leaves after that generous transaction and decided to get out while he or she could, a wise move.
1967 Ferrari 365 GT 2+2 Coupe, Body by Pininfarina
Lot # S85.1 1967 Ferrari 365 GT 2+2 Coupe, Body by Pininfarina; S/N 11471; Red/Tan leather; Older restoration, 3+ condition; With Reserve; Not sold at Hammer bid of $225,000 – Wire wheels, Michelin tires, dual mirrors, Borrani wheels, woodrim steering wheel, console, power windows, AM/FM radio. – Very good, relatively recent paint and chrome. Good, clean engine bay. Very good interior. Gone through mechanically, including new struts, bushings, tie-rod ends and air compressor as well as rebuilt carburetors and fuel system. Nothing has been done to exacting concours standards, but at the same time the car doesn’t need anything at least to be enjoyed. – The Queen Mother, as 365 GT 2+2s are disrespectfully known among Ferrari followers, is now the least expensive way to get the Enzo-era front-engined V12 Ferrari experience and today routinely bring eye-popping prices seen not so long ago on 250 GT Pf coupes. The escalation is troubling but in a purely market sense the consignor here made the appropriate decision to keep the car in search of a better offer.
1967 Ferrari 275 GTB/4 Berlinetta, Body by Scaglietti
Lot # S119 1967 Ferrari 275 GTB/4 Berlinetta, Body by Scaglietti; S/N 10717; Engine # 10717; Grigio Mahmoud/Tan leather; Unrestored original, 3+ condition; With Reserve; Not sold at Hammer bid of $2,800,000 – Centerlock alloy wheels, dual mirrors, Blaupunkt AM/FM radio in addition to a later underdash AM/FM radio, dash clock, manuals, tool roll. – All original except for one repaint in the 1970s and a replacement odometer. Badly fading finish in some spots, particularly on the front. Crazing on the nose. Big chips at the back of the driver’s door. Fairly worn original seats, but the rest of the interior is quite good and well preserved. Clean used engine bay and underbody. Purchased in 1970 by Ferrari mechanic Terry Myr and kept by him until 2015, so it is reasonable to assume it’s as sound mechanically as it is cosmetically. – This car got a lot of attention during the preview days and was not without a fair number of bidders when it crossed the block, but bidding ground to a halt at $2.8 million, a sufficient number two years ago but not so much today. Originality and condition both commend this 4-cam, which was easily worth over $3 million, and might have sold for that much if Ferrari bidders hadn’t been on their way to Scottsdale this Saturday.
2005 Ferrari 575M Maranello Coupe, Body by Pininfarina
Lot # S146 2005 Ferrari 575M Maranello Coupe, Body by Pininfarina; S/N ZFFBV55A750139933; Red/Black leather; Unrestored original, 2 condition; With Reserve; Not sold at Hammer bid of $220,000 – Alloy wheels, Bridgestone Pilot Sport tires, paddle shifters, power windows, air conditioning, factory radio. – From the Unique Collectibles collection. Service records. Very good original paint and interior. Not quite like new, but more like a car that’s a couple years old and has been taken on a long trip or two while always being carefully kept. – With all the talk of modern classics and late model exotics commanding premium prices at auction, this 575M is still just a used car, albeit one that hasn’t depreciated by much. It would have cost about $250,000 when new.
1973 Ferrari 365 GTB/4 Daytona Coupe, Body by Scaglietti
Lot # S170 1973 Ferrari 365 GTB/4 Daytona Coupe, Body by Scaglietti; S/N 16701; Azzuro/Black leather; Unrestored original, 2- condition; With Reserve; Post-block sale at $700,000 plus commission of 10.00%; Final Price $770,000 – Centerlock Cromodora wheels, Michelin WXW tires, tool kit, manuals, Dinoplex ignition, Becker Mexico cassette radio, power windows, Borletti air conditioning. – Mostly original U.S. spec Daytona with one repaint. 17,361 miles, most of them through the late 1980s, are believable. Recently redone suspension and a tune-up and fluid replacement. Very clean engine bay which includes the U.S. smog equipment usually trashed as soon as possible. Light wear on the underbody. Lightly worn interior. Very good paint. – Bid to $660,000 on the block and reported closed post-block with this result. An honest, mostly original Daytona in very good condition even after long storage and recent re-commissioning. The price is appropriate to its history and condition.