RM Auctions, Portola Hotel and Monterey Convention Center, Monterey, California, August 16-17, 2013
Report and photos (unless noted) by Rick Carey, Auction Editor
It took a while but RM Auctions regained the top auction total in Monterey in 2013 helped along (far along) by the tongue-wagging highlight of the Monterey auctions, the sale of Ferrari 275 GTB/4 NART Spider s/n 10709 for $27.5 million.
That result is: 1) 22% of RM’s record-setting $125 million Monterey auction total; 2) A reported commission ($2,750,000) that by itself was sufficient to buy any of the cars sold in Monterey except the top two dozen; 3) Only $4 million less than the entire sale totals for Bonhams ($31,186,950) or Mecum ($31,570,450); 4) Over four times Russo and Steele’s sale total. The list could go on from there, but these are enough to portray the magnitude and significance of this transaction.
It’s no wonder that tongues wagged in the wake of the NART Spider transaction.
Twenty-five lots hammered sold on bids of $1 million or more, 24% of the 109 lots sold. Two more were bid to $1 million or more but didn’t meet reserve bringing the seven-figure or more total to twenty-seven, 22.7% of the 119 lots offered. That’s heavy money overload, even for an auction week where seven-figure cars are traditionally plentiful.
There were more surprises than the NART Spider, though. Some exceptional results are scattered throughout the auction. $3,520,000 for Johnny Rutherford’s Indy 500 winning 1974 McLaren M16C was an expectation-shifting result for an Indy Car. $253,000 for a 1967 Jaguar XKE Series I 4.2 Roadster wasn’t an anomaly, with both Bonhams and Gooding getting comparable prices for similar cars, but it does make Series I 4.2s the latest fad to take off. And no one can explain the $121,000 price for a beautifully restored but essentially undistinguished ’69 Alfa 1750 Spider.
The Alfa was the next-to-last car in the sale. Maybe two bidders were determined to go home with something. In this case the winner was the loser.
Another indication of the ebullience at RM is that 22.1% of the cars sold were on hammer bids over the high estimate.
It was edifying and a credit to the market power and intense effort of RM Auctions and its staff.
Here are the numbers:
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RM Auctions Monterey 2013 – Auction Report
Lot # 105 1970 Porsche 911S 2.2 Coupe; S/N 9110300331; Engine # 6300487; Sepia Brown/Russet Tan; Estimate $150,000 – $180,000; Recent restoration, 3 condition; Not sold at Hammer bid of $120,000 – 2,195cc/180hp, 5-speed, Fuchs alloy wheels, ventilated seats – Represented as original engine and transmission, backed up with the Porsche CoA. Recently restored and enjoyed, mechanically thoroughly gone through. Paint has some small chips but is good overall, brightwork shows scratches and minor dents, clean interior with no signs of wear, fresh Michelin tires. An average car that can benefit greatly from some attention to its details. – Both attractively presented (in an unusual color) and highly desirable, it is surprising this 911S attracted such a modest bid and not surprising that the consignor opted to wait for a better opportunity. Lot # 115 1961 Ferrari 400 Superamerica SWB Coupe Aerodinamico, Body by Pininfarina; S/N 2841SA; Engine # 2841SA; Blue Sera/Tan leather; Estimate $2,250,000 – $2,750,000; Recent restoration, 2+ condition; Hammered Sold at $2,500,000 plus commission of 10.00%; Final Price $2,750,000 – Chrome spoke Borranis, Michelin XVS tires, Blaupunkt AM-FM-SW radio, Ferrari build sheet copies, books, tools, jack – 1961 Paris Motor Show display car. A seriously gorgeous car done to high standards of fit and finish in a 2006 restoration that still is better than new. – Epic, sleek, streamlined and beautiful, but notably not Ferrari Classiche certified. It’s still hard to find a car more desirable than this. For this price, too. Lot # 123 1973 Ferrari 365 GTB/4 Daytona Coupe, Body by Pininfarina/Scaglietti; S/N 16691; Engine # B2542; Dark Blue (Blu Scozia)/Tan leather, Black stripes; Estimate $550,000 – $650,000; Recent restoration, 2+ condition; Hammered Sold at $700,000 plus commission of 10.00%; Final Price $770,000 – Painted nose panel, popup lights, chrome spoke Borranis, Michelin X tires, Veglia A/C, P/W, Becker Mexico cassette stereo, manuals – Very good paint, chrome and interior. Engine compartment is like new. A sharp, clean car. 2012 Platinum at Cavallino and 24,986 miles from new. About as good as it gets in a Daytona, a brilliantly and accurately restored car. – An over-the-top Daytona that brought a deserved over-the-top price. It’s beautifully sinister in deep, rich Blu Scozia, too. Lot # 125 1950 Ferrari 166 MM Barchetta, Body by after Touring; S/N 0038M; Engine # 0038M; Red/Tan leather; Estimate $3,000,000 – $3,500,000; Rebodied or re-created, 3+ condition; Hammered Sold at $2,800,000 plus commission of 10.00%; Final Price $3,080,000 – RHD. Chrome spoke outside laced wheels, strange but historically appropriate multiple aeroscreens, Michelin XVS tires – Raced by Ascari, Chinetti, Louis-Dreyfus, Cornacchia, Serafini, Bracco as a barchetta, rebodied in ’51 or ’52 with a coupe body by Vignale and sold in Argentina by Jose Froilan Gonzalez. Eventually rebodied with this barchetta body. Many time Mille Miglia storica participant. A good older restoration with very good paint and interior. Chassis is older and shows use. Comes with the coupe body, too. Engine is 2,562cc, a 212 in displacement. – A sexy, get you in anywhere you want to go, car with a typically checkered history for the era of multiple bodies and engine upgrades but a traceable, illustrious racing history in the hands of the best of the period and participation at Le Mans and second overall in the Mille Miglia in 1950. The result suggests some astute thinking by the bidders and careful balancing of the car’s many variations to arrive at a sensible compromise price. Lot # 127 1960 Ferrari 250 GT Cabriolet Series II, Body by Pinin Farina; S/N 1939GT; Dark Blue/Cream leather; Black cloth top; Estimate $1,250,000 – $1,500,000; Recent restoration, 2- condition; Hammered Sold at $1,175,000 plus commission of 10.00%; Final Price $1,292,500 – Chrome spoke Borranis, Michelin X tires, Marchal headlights, behind-grille fog lights, Ferrari build sheet copies – Good paint, chrome and interior, color changed from the original Grigio Conchiglia (Shell Grey.) Engine compartment is like new. Underbody and chassis have been restored to nearly like new, then driven a little, but overall this is a quality example in excellent condition. – Two Series II 250 GT Cabriolets in comparable condition and colors sold in Monterey within rounding error of each other. The value implications are clear. Lot # 129 1969 Lamborghini Miura P400S; S/N 4262; Silver-Grey, Black sills/Black vinyl, Beige cloth; Estimate $650,000 – $750,000; Unrestored original, 3- condition; Not sold at Hammer bid of $610,000 – Silver painted alloy wheels, Goodyear ‘Grand Prix’ VR70 tires, P/W, no radio – Stored since 1974, recently exhumed and quickly recommissioned to run and drive. Chipped and cracked original paint crazing on the right front fender and right door. Driver’s seat cloth insert worn through and foam disintegrating. That and the pedal pad wear makes the 3,956 km on its replaced odometer look more like 103,956. Needs a good home. – The condition of this Miura is more than patina, it’s age and neglect. Charming though it may be as a barn find, it needs thorough and complete work to do any more than be driven slowly across the auction block and the reported high bid recognizes the imminent project that will have to be undertaken. It could have sold with minimal regret for the reported high bid. Lot # 131 1964 Ferrari 250 GT/L Lusso Berlinetta, Body by Pininfarina/Scaglietti; S/N 5537GT; Engine # 5537GT; Metallic Blue/Beige leather; Estimate $1,250,000 – $1,500,000; Recent restoration, 2- condition; Hammered Sold at $1,260,000 plus commission of 10.00%; Final Price $1,386,000 – Chrome spoke Borrani wheels, Michelin XVS tires – Represented as matching numbers. Restored like new with better paint and interior. Firewall painted over chipped old paint. Engine is fresh and sharp. Good major chrome but the window frames are pitted and thin. Chassis looks good. An initially promising presentation but the oversights are troubling. – Didn’t repaint the firewall? Ugly, pitted window frames? These aren’t major issues (although addressing the engine compartment is only the start of a ‘while you’re at it’ litany of issues to be faced while the engine is out) but are hints that call into question the thoroughness and attention to detail of other aspects of the restoration. At this price there’s no room for error and the new owner should hope the visible shortcomings are all that hasn’t been addressed. Notably, the present presentation has not been judged by Ferrari pros. Under the circumstances the seller should be very happy to get this price. Lot # 134 1956 Austin-Healey 100/M BN2 Le Mans Roadster; S/N BN2L/231849; Engine # 1B/231849M; Silver/Red; Red top; Estimate $175,000 – $200,000; Recent restoration, 2+ condition; Hammered Sold at $180,000 plus commission of 10.00%; Final Price $198,000. No Reserve – Factory installed Le Mans equipment, overdrive, matching numbers, chrome wire wheels, leather hood strap, laminated windshield – Recent concours-quality restoration, very good exterior, small scuffs on driver’s side of rear bumper are the only real flaws. Interior and trunk space are clean and tidy. Very nice and fully documented including the blessing of the 100M Le Mans Registry. – Simply gorgeously and accurately restored by Healey specialists and as thoroughly documented and verified as anyone could wish for a 100/M, this is a benchmark price for a benchmark car.
RM Auctions Monterey 2013 – Auction Report Page Two
Lot # 137 1955 Jaguar D-type Sports Racer; S/N XKD 530; BRGreen/Green leather; Estimate $4,000,000 – $5,000,000; Competition restoration, 3+ condition; Hammered Sold at $3,550,000 plus commission of 10.00%; Final Price $3,905,000 – RHD. Dunlop alloy centerlock wheels, two wraparound windscreens, driver’s head fairing, Sinn rally chronometers, three Salter digital timers, Retro Trip odometers – Raced when new in Finland by Curt Lincoln in circuit and ice races, then by others, including in Leningrad in 1961 by Heimo Hietarinta. Original body eventually replaced for Nigel Moores and re-engined with an ex-Cunningham wide angle head 3.8. Subframes and body formed the basis of another car which claimed the same chassis identity, confusion rectified in 2002 when the other car was acquired by the consignor (at Christie’s London sale for $517,979) and merged into this car, now the sole claimant to XKE 530 and powered by the 3.8 liter engine installed during a factory rebuild in 1959. Rather used but still wonderful. – This car’s history represents the happy result of the oft-feared separation of used racing cars into two piles of parts and is a model for other collectors facing a similar dilemma. But what became of the remaining parts, totalling a mostly complete D-type, left over from the amalgamation? In any event the Monterey bidders subtly handicapped XKD 530’s value taking into account the checkered history, the present condition and the lack of major international race history to arrive at this price, and it represents good value to the new owner. Lot # 140 1953 Ferrari 375 MM Spider, Body by Pinin Farina; S/N 0364AM; Engine # 0436AM; Red/Beige leather; Estimate $9,000,000 – $12,000,000; Competition restoration, 2+ condition; Hammered Sold at $8,250,000 plus commission of 10.00%; Final Price $9,075,000 – RHD. Silver painted wire wheels, Dunlop Racing tires, driver’s folding aeroscreen, passenger’s seat metal cover, passenger’s wraparound windscreen, quick fill fuel cap, voluminous history documents and trophies – Jim Kimberly’s bespoke 375 MM, arguably the first ‘pontoon fender’ racing Ferrari. Owned since 1968 by Charles Weiss and restored with the cooperation of Kimberly and others. Re-engined, the original is presumed swimming with the fishes in Galveston Bay after a hydroplane accident, a treasure hunt that recalls Peter Mullin’s Bugatti Type 35 from the depths of a Swiss lake, but in salt water. Restored like new with excellent paint, good lightly creased upholstery after some vintage racing expeditions. – Roughly half the price of a customer Testa Rossa with mediocre competition history, this is a fabulous Ferrari with impeccable history (aside from that supercharged Chevy that powered it for years.) It’ll bring its new owner an entry most anywhere that he or she wants to go. It is far out of reach of so-called ‘normal’ collectors but, y’know what, it was far out of reach of ‘normal’ enthusiasts in 1953, too. Perspective, that’s called, and good on ya, Chuck Weiss, for the work and research that went into its preservation and restoration since it was a clapped out fifteen year old race car. Lot # 146 1955 Ferrari 750 Monza Spider, Body by Scaglietti; S/N 0530M; Engine # 0530M; Red/Blue leather; Estimate $3,400,000 – $4,400,000; Competition restoration, 2- condition; Hammered Sold at $3,700,000 plus commission of 10.00%; Final Price $4,070,000 – RHD. Driver’s windscreen, separate one with a grab handle for the passenger, driver’s head fairing, chrome spoke Borrani, Michelin X radial tires, covered headlights – Raced in Italian events in 1955-56 by Count Luigi Chiaramonte Bordanaro of Palermo, Sicily with some success, later sold to Carlo Leto de Priolo and displayed at the Monza museum until 1973. Driven in the Mille Miglia storica from 2001-2010 by Giuseppe Scalvenzi. Described as original engine, transmission and original body. Very good paint, interior is somewhat aged, particularly the driver’s seat. Underbody is dusty and driven. – The body is a great example of why Sergio Scaglietti caught Ferrari’s attention. Aside from an awkward nose that exposes the chassis and lower front suspension (and does nothing for undercar aerodynamics), it is sweet, curvaceous and svelte, a brilliant little 2250mm wheelbase rocket. Unusually pure for a competition Ferrari, it represents surprisingly good value for money, at least in the current environment. Lot # 154 1958 Lister-Jaguar Knobbly Sports Racer Prototype; S/N BHLEE101; Engine # E5003; White, Blue stripe/Blue leather; Estimate $2,500,000 – $3,000,000; Competition restoration, 3 condition; Hammered Sold at $1,800,000 plus commission of 10.00%; Final Price $1,980,000 – RHD. 3,785cc 256hp Jaguar, 4-speed, de Dion rear axle, polished Dunlop centerlock alloy wheels, full width wraparound windshield, fire system, includes spare 3.75 liter Jaguar competition engine. – Cunningham team car at Sebring 1958, then raced by Walt Hansgen in SCCA through 1960 including 1958 C/M Championship. Highly original for such an extensively raced car. Vintage raced. Pimply paint. Some paint cracks and drips, but carefully mechanically presented – Far faster than a D-type, for half the money, and the Sebring/Cunningham/Hansgen history is a bonus. This is an exceptionally historic race car bought for a surprisingly modest price. Lot # 156 1969 Ford Mustang Boss 429 Fastback; S/N 9F02Z150469; Candy Apple Red/Black; Estimate $275,000 – $375,000; Recent restoration, 2 condition; Hammered Sold at $250,000 plus commission of 10.00%; Final Price $275,000 – 429/375hp, 4-speed, KK #1255, Magnum 500 wheels, AM radio, P/S, P/B – Excellently restored, slight scuffs around Ram Air induction seams and in chrome, straight body with good panel fit, flawless interior, good dashboard and gauges, wood trim and carpet look new. Well documented. – Those were the days. Boss 429 owners fondly remember when this very Boss-Nine crossed the block at Barrett-Jackson in Scottsdale and was hammered sold for $605,000. That was then, this is now, and this result in indicative of the market’s judgment of Boss-Nine values today. Lot # 202 1971 Mercedes-Benz 280SL Convertible; S/N 11304410022291; Metallic Green/Cream; Estimate $80,000 – $100,000; Cosmetic restoration, 2- condition; Hammered Sold at $72,500 plus commission of 10.00%; Final Price $79,750. No Reserve – 4-speed, fog lights, Pagoda hardtop, Euro-specs including headlights, Becker Mexico cassette stereo – Recent repaint, small divot in metal above the rear trunk latch now touched-up, average brightwork that would benefit from a buff and polish, window molding appears to be original with minor cracks, faded interior largely original, seats intact, dashboard free of cracks and scuffs, trim in good physical condition. A nice driver. – A sound and well-maintained example that had been in the same owner’s careful hands for 25 years. The new owner got full value for the money spent here. Lot # 203 1976 Lamborghini Urraco P300 Coupe, Body by Bertone; S/N 20078; Midnight Blue/Navy; Estimate $60,000 – $80,000; Unrestored original, 2- condition; Hammered Sold at $52,500 plus commission of 10.00%; Final Price $57,750. No Reserve – Euro-style chrome bumpers, French wing (no rear window louvers), AM/FM/cassette, blackwall tires – Well maintained and unrestored, very good paint with only minor scratches along trunk lid, crack in driver’s side taillight, original moldings and glass have held up well, wheels not overly worn. Interior shows age-appropriate wear and faded upholstery but no rips or tears. A good looking driver. – With Dinos bringing well over $200,000 for even mediocre examples the Urraco is a more and more attractive alternative. This is appropriate money to pay for this one’s condition and history. One-fourth the price of a Dino (with two more cylinders and 70 more ponies) is an intrinsically great value. Lot # 204 1963 Porsche 356B 1600 Coupe, Body by Karmann; S/N 213231; Engine # P610698; Oslo Blue/Red; Estimate $135,000 – $185,000; Recent restoration, 2 condition; Not sold at Hammer bid of $120,000 – Chrome wheels, hubcaps, blackwall tires, tool roll, Porsche CoA, spare fan belt, original owner’s manual – Delivered new without a single option save for hubcaps and represented as completely matching numbers. 40 miles on recent show-quality restoration. Paint has a single small chip on the hood. Brightwork is in excellent condition, interior is like new. 298.1 of 300 points at the 2011 Porsche Parade, 2012 Porsche Parade first in class, first in division and first in overall restoration. Essentially how it left the restoration shop. – This is a very special restoration of a totally mundane 60hp Porsche coupe but it’s won what it’s going to win. The reported high bid was generous and the seller should have given serious thought to accepting it.
RM Auctions Monterey 2013 – Auction Report Page Three
Lot # 205 1972 Lamborghini 400 GT Jarama Coupe, Body by Bertone; S/N 10322; Metallic Blue/Camel leather; Estimate $115,000 – $130,000; Older restoration, 2- condition; Hammered Sold at $102,500 plus commission of 10.00%; Final Price $112,750. No Reserve – 3,929cc/350hp V-12, 5-speed, dual removable glass sunroofs, woodrim steering wheel, wood instrument panel, air conditioning, alloy centerlock wheels, blackwall tires – Restored in the early 90’s and freshened in 2009 but the older restoration and subsequent use shows with various paint chips and minor scratches. Brightwork is clean but the upholstery has deep scratches. Still presents quite well, which isn’t often the case with Jaramas. – An attractive, unusual, fast front-engine V-12 2+2 with style that is enhanced by the unusual dual sunroofs. In performance, style and rarity it represents good value at this price which is appropriate to its condition. Lot # 206 1974 Ferrari 246 GTS Dino, Body by Pininfarina; S/N 08500; White/Red leather, Black stripes; Estimate $350,000 – $400,000; Recent restoration, 2- condition; Hammered Sold at $355,000 plus commission of 10.00%; Final Price $390,500 – Chairs and flares, Campagnolo wheels, Michelin tires, tool kit, factory air conditioning, power windows, well documented – 19,905 miles from new. Freshly restored, paint deep and smooth, marginal wear around window and top seals, clean interior. Dash and center console slightly faded, seats show virtually no wear or damage. A choice Dino Spider. – At least it’s not half a million bucks. This is a fastidiously restored Dino in something other than red. There could be more talk about the values of Dinos (195hp cars which can be blown into the weeds by any soccer mom’s modern SUV) at some future point but for today they join the 900+ 330/365 GTCs as the object of new collectors’ fascination. This price is, after all, only 1/4 the price of a 250 GT Series II Cab. Lot # 207 1957 Alfa Romeo Giulietta Veloce Sprint Alleggerita, Body by Bertone; S/N AR149303798; Engine # AR131530552; Red/Gray; Estimate $250,000 – $300,000; Older restoration, 2- condition; Hammered Sold at $230,000 plus commission of 10.00%; Final Price $253,000. No Reserve – Lightweight Alleggerita spec, sliding door glass, no rear seat, magnesium intake manifold and oil pan, alloy body components, Nardi woodrim steering wheel – Appropriate type but not original engine with 40DCOE carbs. An older well-kept restoration, paint shows no imperfections, interior is clean with only minimal wear, stainless is aged and dull. Excellent overall, just missing a few final touches. – Opened at $200K, which pretty much scared away any bidding competition. This result is a multiple of the value of a standard Giulietta Sprint Veloce, but not enough of a multiple to be excessive. Russo and Steele sold a similar but freshly restored car here in Monterey last year for $302,500. There isn’t $99,500 difference between them and this is the better value, even with the replaced engine. Lot # 210 1971 Ferrari 365 GTC/4, Body by Pininfarina; S/N 14455; Engine # 14455; Black/Black leather; Estimate $160,000 – $200,000; Older restoration, 2- condition; Hammered Sold at $250,000 plus commission of 10.00%; Final Price $275,000. No Reserve – AM/FM cassette, A/C, Borrani wire wheels, mousehair dashboard, Ferrari Classiche certified – Cataloged as 35,472km from new, an older restoration that has been meticulously maintained. Paint still looks fresh, dashboard and instruments are excellent, leather seats are lightly creased. A well-sorted and cared-for Ferrari. – Balance the low miles with the unusually fastidious and thorough restoration and this C/4 brought a near record price (surpassed only by a notable outlier at Christie’s Monaco in 1989 – in the last hours of the most recent Ferrari Frenzy.) This result was later endorsed by another C/4 (also Black/Black) nearly as expensive at RM Monterey. Neither was the best in the world, but their prices are. Lot # 211 1967 Jaguar XKE SI 4.2 Roadster; S/N 1E15099; Engine # 7E12754-9; Black/Black; Black top; Estimate $150,000 – $180,000; Recent restoration, 2+ condition; Hammered Sold at $230,000 plus commission of 10.00%; Final Price $253,000 – Factory hard top, chrome wire wheels, Becker Europa radio – 51,924 miles from new and recently restored to like-new condition. Impeccable paint, minor pitting on rear bumpers, small discoloration in chrome on hard top windshield molding. Polished and chromed underhood. An overdone Best in Show contender but not over the top. – A particularly impressive car, thoroughly and conscientiously done from top to bottom, inside and out that makes a particularly good impression with its all-black color scheme and both tops, but that has only limited bearing on the price it brought, an eye-popping, over the top number that defies explanation or understanding. Is this the start of a 330 GTC, Gullwing or 246 Dino flash in the pan for 4.2 Liter XKEs? Sales of $269,500 at Gooding’s Pebble Beach sale and $187,000 at Bonhams’ Quail Lodge lend credence to evidence of a new collectors’ favorite. If that’s the cars watch for examples to come pouring out of the fields, barns and garages of America. ‘Rare’ is not a word that is attached to E-type Series I 4.2s. Lot # 212 1975 Lancia Stratos HF Stradale Coupe, Body by Bertone; S/N 829AR0001880; Red/Black cloth; Estimate $275,000 – $375,000; Cosmetic restoration, 3+ condition; Hammered Sold at $342,500 plus commission of 10.00%; Final Price $376,750 – Gold alloy wheels, Yokohama tires, fire system, flared rear fenders, 285/40 rear tires, Sparco seats, 5-point belts, front and rear spoilers, owner’s and parts manuals – Good cosmetics, orderly but dirty chassis, delaminating windshield. Repainted from Lime Green. Paint blistering on rear window slats. A great driver, though. – With examples selling at Gooding for $429,000, this price at RM and Bonhams’ neglected ‘container find’ example for $264,000 the collectors seem to have finally awakened to the appeal of the Lancia Stratos, an even more aggressive, seductive, radical design than Pininfarina’s 246 GT Dino with the same drivetrain. These results mark a turning point with three examples selling at the same time and place for strong money. Even a few years ago three Stratos in the Monterey auctions would have flooded the market and collapsed the values of all three cars. Lot # 213 1995 Ferrari F50; S/N ZFFTA46B000099999; Red/Black; Estimate $1,250,000 – $1,600,000; Unrestored original, 2 condition; Hammered Sold at $1,525,000 plus commission of 10.00%; Final Price $1,677,500 – The last 5-digit Ferrari chassis number. – The Geneva Show car that introduced the F50. Excellent paint, chrome and interior. Underbody and chassis like new. Very attractive interior color. 49 state legal, new tires, freshly serviced, Ferrari Classiche certified, documented service history. – Sold by RM in Arizona in 2011 for $742,500, the transaction here makes for an exceptional ROI for the seller but is also an example of the prices F50s (and similar Ferrari supercars) are attracting. They are instantly recognizable by anyone as exceptional cars, fast, (fairly) rare and valuable, trophies emblematic of their owners’ success and as such are sought after for that reason alone, usually destined never to be driven except in and out of garages. (photo: Steve Chesler) Lot # 214 1960 Aston Martin DB4GT Coupe; S/N DB4/GT/0141/L; Engine # 370/0141/L; Silver-Grey/Black leather; Estimate $2,000,000 – $2,700,000; Recent restoration, 2- condition; Hammered Sold at $2,000,000 plus commission of 10.00%; Final Price $2,200,000 – 3670cc, 302hp, chrome spoke wire wheels, overdrive, Talbot outside mirrors, folding occasional rear seats, jack, spare wheel and tire and a gigantic aluminum fuel tank in the trunk, folding rear seat, lefthand drive from new, U.S. delivery – 1960 Turin Motor Show car, represented as matching numbers throughout, known history from new, factory-fitted overdrive. Very good paint and interior. Some trim issues reflecting the age of its late 90’s restoration but still a high quality, fast automobile. – A quality Aston, with a quality restoration and a no-stories history maintained in very good condition for nearly 20 years that should reassure the new owner and probably had a beneficial effect on the bidding. This is an appropriate result, with the new owner getting full value for the not inconsiderable amount of money that changed hands.
RM Auctions Monterey 2013 – Auction Report Page Four
Lot # 215 1958 Mercedes-Benz 300SL Roadster; S/N 1980428500302; Engine # 1989808500302; Medium Blue/Grey leather; Grey cloth top; Estimate $750,000 – $950,000; Recent restoration, 2+ condition; Hammered Sold at $895,000 plus commission of 10.00%; Final Price $984,500 – European headlights, fitted luggage, Becker Mexico radio – Recently restored by Rudi Koniczek, paint has a few small scratches on rear top molding, visors have dark scuff marks, otherwise the car is better than new. – The Mercedes-Benz 300SL in both Gullwing coupe and roadster form has reasserted itself among collectors in the last few years as one of the most desirable models, and has boosted prices to levels commensurate with its status, wide appreciation and demand. This is a car that commands respect in its colors, presentation and performance and it brought an appropriate price in today’s market. Lot # 216 1928 Mercedes-Benz 680S Torpedo Roadster, Body by Saoutchik; S/N 35949; Engine # 72151; Grey, Maroon accent/Maroon lizard; Black cloth top; Estimate $9,000,000 – $12,000,000; Concours restoration, 1 condition; Hammered Sold at $7,500,000 plus commission of 10.00%; Final Price $8,250,000 – Polished wheel discs, blackwall Michelin Comfort Cord SS blackwall tires, dual sidemounts, chrome fender edge trim, outside exhaust headpipes – 1929 New York Auto Show display car, later sold to Frederick Bedford and stored after his death in 1952 until 1980, then restored for Bedford’s granddaughter and displayed for many years at the Owls Head Transportation Museum. Beautiful Torpedo Roadster coachwork by Saoutchik. Redone by Paul Russell & Company and Best in Show at last year’s Pebble Beach Concours d’Elegance, the definition of a concours restoration. Meticulously researched, fastidiously restored. – Sold at Christie’s Monterey auction in 2006 for $3,645,000, then at Bonhams’ sale at Rétromobile in 2008 for $3,359,231 and now superbly restored and judged to be the best in the world. While there is ‘nothing older than last year’s race car,’ last year’s concours winner runs a close second. This is an epic automobile, with a charming history with the Bedford family, and the only argument with its price might be that it’s not enough. Lot # 217 1961 Ferrari 250 GT Cabriolet Series II; S/N 02683GT; Engine # 2683GT; Red/Cognac leather; Black cloth top; Estimate $1,100,000 – $1,400,000; Recent restoration, 2 condition; Hammered Sold at $1,000,000 plus commission of 10.00%; Final Price $1,100,000 – Chrome spoke Borrani wire wheels, Dunlop SP Sport blackwall tires, multiband radio, original owner’s manual, repro tool roll, jack – Excellent paint, chrome and interior. Underbody and chassis done like new. Very attractive interior color, a welcome change from tan or beige. Restored in 1994 in Italy by Bacchelli e Villa in dark blue over black, then redone in the present colors in California a few years ago and in essentially showroom condition. – Essentially without flaw, a choice example of a highly desirable car and at the margins the best of the three of its type sold at Monterey this week, yet also the least expensive. Two hundred thousand here, three hundred thousand there, and it adds up. A sound value. Lot # 218 1960 Aston Martin DB4 SII Coupe; S/N DB4/347/L; Engine # 370/367; California Green/Tan; Estimate $450,000 – $525,000; Older restoration, 3+ condition; Hammered Sold at $575,000 plus commission of 10.00%; Final Price $632,500 – Wire wheels, Motorola radio, tools, factory lefthand drive, manuals, build sheet, jack – 10-year restoration completed in 2008, large paint gouge near deck lid, scratch on driver’s door, paint chips under hood, scratched windshield. Though the end of the restoration came 5 years ago, most of the work appears to be from the start of the project and is now in need of some TLC. – This DB4 is a good example of how even the most fastidious and meticulous restoration can go astray when it lingers for many years. By all accounts everything was done to the highest standards, yet by sitting in even the best environment deterioration is inevitable. The bidders didn’t seem to be detered by the shortcomings, however, and accorded it a magnanimous price. Lot # 219 1953 Maserati A6G/2000 Spider, Body by Frua; S/N 2190; Engine # 2190; Silver-Grey/Blue leather; Blue leather boot cover, Blue cloth top; Estimate $1,200,000 – $1,500,000; Rebodied or re-created, 2 condition; Hammered Sold at $2,300,000 plus commission of 10.00%; Final Price $2,530,000 – Chrome spoke outside laced Borrani wire wheels, Avon TurboSteel blackwall tires, chrome side exhaust and mufflers – Body from chassis 2054, mounted on a shortened chassis with an Alfa 5-speed (original gearbox included on request.) Restored like new with better paint, chrome and interior. A real eye-catching car with just a touch of lavender in the paint to complement the blue leather. – Maseratis like this – ruggedly built, fast and with some of the prettiest Italian coachwork of the Fifties – don’t show up very often. When they do they’re snapped up, often at great prices like this. It seems like a lot of money for 2054’s body on 2190’s shortened chassis, but its visual appeal and rarity is incontestable and it was that visceral pull that emptied the successful bidder’s pocket. Lot # 220 1955 Mercedes-Benz 300SL Gullwing; S/N 1980405500693; Engine # 1989805500736; Red/Tan leather; Estimate $800,000 – $1,100,000; Cosmetic restoration, 2+ condition; Hammered Sold at $1,150,000 plus commission of 10.00%; Final Price $1,265,000. No Reserve – Fitted luggage and Rudge-style knock-off wheels (neither of which came with the car originally), ex-Bruce Meyer. – Known 3-owner history from new, 17,772 miles. Freshly detailed to a concours level, but this Gullwing has apparently never been apart, just continuously maintained and detailed to the standards of a complete restoration. Non-original paint color shows well (if loudly), passenger side headlight cracked, chrome bumper and wheels are excellent, windshield trim pitted, window moldings appear dry and cracked, slight discoloration on driver side entry, interior shows no rips or tears and is almost imperceptibly used. – This is about as good as a nearly 60-year old automobile can be, a car that has never been abused, and only lightly used in the process. It has all the earmarks in finishes, fit and function of a good restoration, but is better than that for never having been apart and can be criticized only for its color change from Light Blue Metallic over red leather. Given its history and presentation it is a sound value at this price. Lot # 222 1971 Mercedes-Benz 280SE 3.5 Cabriolet; S/N 11102712001965; Sandy Beige/Brown; Brown cloth top; Estimate $180,000 – $240,000; Older restoration, 2- condition; Hammered Sold at $200,000 plus commission of 10.00%; Final Price $220,000. No Reserve – Floor shift automatic, console, power top, power windows, Behr air conditioning, Becker Mexico radio, coco mats. fog lights, wheel covers, narrow whitewalls – An older high-quality restoration. Paint has small chips and scratches, molding around windows and convertible top appears fresh, wheels and trim are very good. New tires. Well maintained interior shows absolutely no signs of wear and has beautiful wood trim. – A favorite of collectors, and for good and sufficient reason, possessing style, quality, comfort and performance. Nearly a quarter-million dollars, though, tests the limits even of the 280SE 3.5 Cabriolet’s appeal, particularly with the age of this restoration. The value trajectory of these fine cars was launched upward when Bonhams got $213,170 at Monaco in 2008 but this result sets a new benchmark for a good and well-equipped but older restored example. Lot # 223 1976 Porsche 935 IMSA “El Salvador”; S/N 9306700171; Yellow ‘El Salvador’, Blue accent/Black vinyl; Estimate $750,000 – $900,000; Competition restoration, 3+ condition; Not sold at Hammer bid of $525,000 – 935 specification. 3.2 liter 760hp twin turbo intercooled flat six, 4-speed, slant nose body, 935 brakes and front suspension uprights – Built as a 934 for the Gelo Racing Team and driven by Tim Schenken, Rolf Stommelen and Toine Hezemans. Sold to Claude Haldi in late ’76 with two class wins in 1977 at Nürburgring 1000km and Brands Hatch 6 Hours. Twice raced at Le Mans, finishing 2nd in GT in 1976. Later sold to Enrique Molins (‘Jamsal’) in El Salvador and updated to 935 specs and later with the current K3 bodywork. Restored in 2006 with fresh 3.2 engine showing 700hp at 1 bar boost but not raced since. Clean and orderly vintage racer. Stone stars behind rear wheels give it some racing authenticity. – Offered by Bonhams at Quail Lodge in 2010 with a reported high bid of $550,000. The car isn’t getting any better. Neither is the bidders’ evaluation of it. (photo: Darin Schnabel)
RM Auctions Monterey 2013 – Auction Report Page Five
Lot # 225 1967 Ferrari 275 GTB/4S N.A.R.T. Spider, Body by Pininfarina/Scaglietti; S/N 10709; Engine # 10709; Red/Tan leather; Black vinyl top; Estimate $14,000,000 – $17,000,000; Cosmetic restoration, 2 condition; Hammered Sold at $25,000,000 plus commission of 10.00%; Final Price $27,500,000 – Chrome spoke polished rim Borranis, Michelin XWX tires, Talbot mirror – Bought new by Eddie Smith, picked up at Maranello in company with Luigi Chinetti and owned by the family ever since. New tires, underbody has been freshened and upholstery has been replaced. Paint is new. Engine is fresh and beautiful. – Opened at $10 million, immediately bumped to $16 million. then $17 million and $20 million, then to the final price in $1 million bumps, a singular event in auction history. This is a watershed moment in collector history, and particularly in auction history. The Smith family promised to donate the entire proceeds to charities that Eddie Smith would have supported or did support during his life. But this transaction is more than that. There are just ten NART Spiders. Despite many later cut berlinettas the rare original Scaglietti [cut] cars are special, and parked in anyone’s driveway will be immediately recognized as such. Many other Ferraris have long and convoluted histories. This one is as pure as the driven snow, a NART Spider with no bad stories and only a succession of good ones of a family joyously and enthusiastically using it to drive to races and around the back roads near Lexington, Kentucky. No one can ever cast aspersions on its history, and that is worth a lot. This much? Two bidders obviously thought so and only time will tell if their judgment was appropriate. In the time and place, however, this is a momentous event. The only disappointment is that it’s not original in either condition or color but given its history of use by generations of the Smith family its consistent maintenance is a small price to pay for its legacy. Find another Ferrari with this innate appeal and history. Its value will be judged by 10709. Lot # 226 1937 Cord 812 Supercharged Phaeton; S/N 81232269H; Engine # FC2984; Geneva Blue/Burgundy leather; Beige cloth top; Estimate $250,000 – $325,000; Older restoration, 3+ condition; Hammered Sold at $205,000 plus commission of 10.00%; Final Price $225,500 – Body color wheels, large hubcaps, wide whitewalls, outside headpipes – Good older restoration with some tour miles. Dusty chassis and underbody. Excellent chrome, lightly surface creased upholstery, lightly polisher-scuffed paint. ACD Category One certified. One family owned since 1967. – The history of this Cord and its presentation both are reassuring that it has been taken care of and looked after as needed. There is room for the family, or some friends, and it is ideal for tours, events and the annual ACD gathering in Auburn. Bought appropriately at this price, and a good car, the new owner can be satisfied with both the car and the price paid for it. Lot # 227 1970 Ferrari 365 GTB/4 Daytona Coupe, Body by Pininfarina/Scaglietti; S/N 13361; Red/Black leather; Estimate $400,000 – $450,000; Visually maintained, largely original, 3 condition; Hammered Sold at $530,000 plus commission of 10.00%; Final Price $583,000. No Reserve – Chrome spoke Borranis wire wheels, Michelin XWX tires, Veglia A/C, P/W, painted nose panel, popup lights, Blaupunkt AM-FM – The first Daytona built to US specs, delivered to and believed retained by Bill Harrah’s Modern Classic Motors in Reno, tested by Road & Track. Good paint over somewhat wavy but solid bodywork. Aged and dusty underhood, old undercoat in the fenderwells, patinaed leather, good dash top. More than good enough to be driven happily. William H. Tilley estate. – Huh? 530 Large for an aged Daytona? Results (and not just for Daytonas) were all over the map in Monterey, suggesting there’s no thread connecting bidders’ reasoning. This car is expensive. Period. Lot # 228 2010 Ferrari California Convertible, Body by Pininfarina; S/N ZFF65LHA8A0170202; Yellow (Giallo Modena)/Black; Yellow top; Estimate $145,000 – $185,000; Unrestored original, 2- condition; Hammered Sold at $170,000 plus commission of 10.00%; Final Price $187,000. No Reserve – Retractable hardtop, Scuderia shields, red brake calipers, 20-inch wheels, Daytona seats, paddle shifters, air conditioning, original books and records – A well-kept nearly new car with 4,353 miles. Light wear on seat bolsters, good original paint amazingly free of stone chips or sand pits. William H. Tilley estate. – Look under the hood of the Ferrari California and count the intake ports. There are eight, not twelve. The re-interpretation of the F430 with the engine up front (where it belongs?) the acceptance by future collectors is unsure. This result is barely under the original MSRP and probably won’t stand up. Lot # 229 2002 Ferrari 360 F1 Spider; S/N ZFFYT53A720127182; Yellow (Giallo Modena)/Black leather; Estimate $75,000 – $100,000; Unrestored original, 2- condition; Hammered Sold at $95,000 plus commission of 10.00%; Final Price $104,500. No Reserve – Scuderia shields, red brake calipers, leather covered roll bars, wind deflector, books, tools, flashlight, Tubi exhaust – Road chips on front and rear bumpers, curb rash on wheels, minor wear on seat bolsters. A moderately clean car in good driver condition. William H. Tilley estate – Awesome performance and unmistakable design at a moderate price in this case boosted by the F430’s origin from William H. TIlley’s collection where buyers could have high confidence it was consistently and professionally maintained. There’s no mistaking this 430’s heritage or style. Lot # 231 1987 Ferrari Testarossa Coupe, Body by Pininfarina; S/N ZFFSG17A4H0071823; Red/Tan leather; Estimate $90,000 – $110,000; Unrestored original, 3- condition; Hammered Sold at $100,000 plus commission of 10.00%; Final Price $110,000. No Reserve – Air conditioning, five-spoke Ferrari wheels, manuals and tools – 9,485 miles from new. Well-maintained original, surface scuffs on front and rear bumpers, rock chips behind doors, locks showing key scratches, lower air dam gouged, seats are slightly cracked, dashboard modestly scratched. Worn from use rather than neglect. 30,000 mile serviced in 2007. William H. Tilley collection. – A premium car bought for a premium price. Lot # 232 1954 Ferrari 500 Mondial Spider Series I, Body by Pinin Farina; S/N 0418MD; Engine # 0506MD; Red/Tan leather; Estimate $2,750,000 – $3,250,000; Competition restoration, 2- condition; Hammered Sold at $3,200,000 plus commission of 10.00%; Final Price $3,520,000. No Reserve – RHD. 1,984cc/170hp 4-cylinder, 4-speed, covered passenger seat, driver’s wraparound windshield, Silver painted Borrani wire wheels with Dunlop Racing tires, SF shields, electric cooling fan, electronic ignition, belly pans, full windshield included, Ferrari Classiche certified – DeDion rear suspension with rear-mounted transmission. Scuderia Ferrari entrant in the 1954 Mille Miglia, then to Venezuela where Ramon Lopez raced it in the GP Venezuela 1955-1957. Brought to the U.S. in the mid-60’s and owned by Bill Jacobs, Paul Tavilla, Dennis Machul and Oscar Davis. Competed several times in the MM Storica. Replacement engine from Series II 500 Mondial 0506MD. An excellent old restoration with vintage miles on it. Clean and orderly. Comes with FIA and FIVA papers and the original hood. William H. Tilley estate. – Sold to Mr. Tilley at Gooding’s Pebble Beach auction in 2009 for $1,540,000, an excellent Ferrari with a long and well-documented history of successful competition and enthusiastic driving by a succession of sophisticated collectors. This is a choice example of Ferrari’s 2-liter sports racers, apparently never significantly damaged in competition and sympathetically maintained since new. It represents good value for the money not only in the car itself but also in its demonstrated entre to important events. (photo: Pawel Litwinski) Lot # 233 1979 Ferrari 308 GTS, Body by Pininfarina; S/N 26891; Metallic Grey/Cream leather; Estimate $30,000 – $40,000; Visually maintained, largely original, 3- condition; Hammered Sold at $57,500 plus commission of 10.00%; Final Price $63,250. No Reserve – Kenwood CD stereo, A/C, gold center BBS modular wheels – Decent repaint, lightly soiled original interior. A sound driver-quality 308 in an attractive, unusual color showing its age and all the 33,374 miles on its odometer. William H. Tilley estate. – For a car that needs as much attention as this 308 GTS the price is pretty astounding.
RM Auctions Monterey 2013 – Auction Report Page Six
Lot # 234 1972 Ferrari 365 GTC/4 Coupe, Body by Pininfarina; S/N 15635; Black/Black leather; Estimate $175,000 – $225,000; Cosmetic restoration, 3+ condition; Hammered Sold at $205,000 plus commission of 10.00%; Final Price $225,500. No Reserve – Chrome spoke Borrani wire wheels, Clarion CD stereo, A/C, P/W – Good older repaint and upholstery. Flat panels, even gaps, good chrome. Underbody covered in old undercoat. Lower edge of windshield is discoloring. Better than the average C/4, but nothing special. William H. Tilley estate. – Black is the C/4 color. It minimizes the discordant soft bumpers’ effect and shows off Pininfarina’s lines to advantage. It’s no Lusso, but it’s immediately recognizable as a Ferrari to be reckoned with. Although it sold for almost as much as the earlier Black/Black C/4 at RM Monterey, this isn’t as much car, but it’s almost as much money. Lot # 235 1953 Maserati A6GCS/53 Spyder, Body by Fantuzzi; S/N 2053; Engine # 2067; Red/Red leather; Estimate $2,450,000 – $2,950,000; Competition restoration, 2- condition; Not sold at Hammer bid of $2,200,000 $2,200,000 – silver painted outside laced wire wheels, Dunlop Racing tires, Plexiglas windscreen, passenger’s metal tonneau cover, Eguilux headlights – Demonstrated by Juan Manuel Fangio at Thompson in 1953, later sold to Don McKnought and started (but didn’t finish) the 1954 Sebring 12 Hours. Later (surprise?) re-engined with a Chevy by James and Ben Diaz. Now fitted with a 202hp A6GCS engine. Very good recent paint, older upholstery and chassis. – Isn’t it wonderful what modern engineering and development can do to exalt the performance of historic racing cars while retaining their original specs? This A6GCS boasted a not negligible 170hp in 1953. Today, and even more reliable and tractable, it shrugs off 202 ponies on the dyno. Like it? A lot, and the RM bidders missed a bet by letting it get away despite the replaced engine. Lot # 236 1929 Rolls-Royce Phantom I Ascot Phaeton, Body by Brewster; S/N S364LR; Engine # 21649; Black/Beige leather; Black cloth top; Estimate $400,000 – $600,000; Older restoration, 2+ condition; Hammered Sold at $350,000 plus commission of 10.00%; Final Price $385,000 – Lefthand drive. Chrome wire wheels, wide whitewalls, dual sidemounts with chrome bands and mirrors, luggage trunk, Pilot-Rays, wind wings, dual windshields – Good recent repaint, interior wood redone, chrome refreshed. Sound but aged upholstery, dull aluminum side accent, oily chassis with road grime. An attractive driver. – An old friend. Sold by RM at Meadow Brook in 2000 for $150,700, in Arizona in 2009 for $330,000, by Gooding in Scottsdale in 2010 for $385,000 and by RM here in 2011 for $363,000. You want a sound investment that has minimal downside and some pretty attractive show and event entrées? This is the device. In five years the value – determined by jaded and experienced classic car bidders – has varied by less than rounding error. Buy in, enjoy, get out little the worse for wear. Lot # 237 1965 Ferrari 275 GTS, Body by Pininfarina; S/N 07331; Engine # 07331; Red/Cream leather; Black cloth top; Estimate $1,000,000 – $1,200,000; Older restoration, 2- condition; Hammered Sold at $900,000 plus commission of 10.00%; Final Price $990,000 – Chrome spoke Borrani wire wheels, blackwall tires, AM-FM, partial original tool roll, parts book, owner history – Restored a decade ago and starting to show age and minor edge chips. Upholstery shows age and use but is sound. A good car for tours or weekend drives. – The price reflects the restoration’s age as well as present day buyers’ fascination with the 275 series. Lot # 239 1968 Toyota 2000GT Coupe; S/N MF1010136; Engine # 10166; Bellatrix Yellow/Black vinyl; Estimate $800,000 – $1,000,000; Visually maintained, largely original, 3 condition; Hammered Sold at $850,000 plus commission of 10.00%; Final Price $935,000 – Centerlock alloy wheels, Pirelli P6 tires, pushbutton AM radio, power antenna, uprated cooling system – Sound and usable paint, chrome and interior. Interior wood veneer is lifting even though it’s been varnished. Dirty engine, never been out. A sound used car but one that wants attention. – Worth low $100K in the early years of this century, rapidly escalated to $627,000 at Gooding Pebble Beach in 2012 and launched into orbit with RM’s sale of Don Davis’s MF1010147 earlier this year for $1,155,000 this result for a car not as good as the Davis 2000GT confirms the 2000GT’s stature as a premier collectible. It’s a milestone in Japanese car development, produced in tiny numbers by Yamaha for Toyota. It’s the car Datsun wanted to emulate with the 240Z but produced in far too many examples, demonstrating that commercial success (viz. 240Z) isn’t the same as collector car success. Lot # 240 1971 Ferrari 365 GTB/4 Daytona Spider, Body by Pininfarina/Scaglietti; S/N 14829; Engine # 14829; Red/Black leather, Red stripes; Black top; Estimate $1,000,000 – $1,500,000; Visually maintained, largely original, 3+ condition; Hammered Sold at $1,500,000 plus commission of 10.00%; Final Price $1,650,000. No Reserve – Veglia A/C, Alpine cassette stereo, P/W, chrome spoke wire wheels, Michelin XWX tires, silver painted nose panel, popup lights, the Daytona Spider featured on film in Gumball Rally – Good repaint and fairly new upholstery lightly creased. Old undercoat chipped off the wheelwells in small chunks, dusty engine, road grimy chassis. A presentable driver quality car. – Sold at Christie’s Pebble Beach auction from the Mel and Noel Blanc collection in 1997 for $465,050 freshly restored with paint by Junior and interior by Tony Nancy, this Daytona Spider has not aged well even though the odometer shows just 7 more miles than it did in 1997. Its price here, however, reflects none of that and is a marked premium to others of its kind, unless you are, as I am, a dedicated fan of Gumball Rally (‘And now, my friend, the first rule of Italian driving: what’s behind me is not important’) in which case this is real money. Lot # 241 1974 McLaren M16C Indy Car; S/N M16C-5; Orange/Black; Estimate $1,250,000 – $1,750,000; Competition restoration, 2 condition; Hammered Sold at $3,200,000 plus commission of 10.00%; Final Price $3,520,000 – 159 cubic inch Offenhauser inline four, turbo-charged, Hilborn FI, 800hp, 5-speed Hewland – Johnny Rutherford’s 1974 Indy 500 winner, restored and presented in race ready condition, complete ownership history. 1973 Indy pole-sitter. Winner at Michigan in 1973. Restored by Rick Carroll and in running, driving condition (albeit suffocating all the mosquitoes on the Monterey peninsula with its exhaust smoke) and driven onto the RM Monterey auction block by JR. – Sold by Sotheby’s at the Rick Carroll sale in 1990 for $517,000 in comparable condition, but nothing prepared the onlookers for this result, on the hammer bid nearly triple RM’s already-optimistic low estimate and almost double the high estimate. It was breathtaking, on a par with with the NART Spider. No Indy 500 winner has ever, I mean EVER, brought money like this. A milestone? Most certainly. Midwest farmers are now scurrying around readying their Kurtis-Krafts, Watsons and Epperlys to cash in. And Jimmy Clark’s ’65-winning Lotus? It’s about time. Lot # 242 1960 Maserati Tipo 61 ‘Birdcage’ Sports Racer; S/N 2461; White ‘Camoradi’, Blue stripe/Blue cloth; Estimate $3,000,000 – $4,000,000; Competition restoration, 2 condition; Hammered Sold at $1,900,000 plus commission of 10.00%; Final Price $2,090,000 – RHD. Silver painted wire wheels, Dunlop Racing tires, two seats, chrome side exhaust – This chassis number is ‘Lucky’ Casner’s Camoradi 1960 Nurburgring 1000km winner driven by Dan Gurney and Stirling Moss, later raced by Alan Connell in USAC US road races, later crashed by Patrick Lindsay. ‘Comprehensively’ is a modest term. Rebuilt with a new body, retaining the front frame uprights with the original chassis number but reduced to enumerating the original parts retained. Denis Jenkinson might call this car ‘authentic’ as in ‘it has never lost its orginal identity.’ Done to very high standards of fit and finish. Steve Hart 2.9 liter engine. Shows a little use but is very sharp and clean. – According to Willem Oosthoek’s Birdcage bible: ‘new chassis, new body, new engine and gearbox with some original parts, new instruments, original suspension and brake parts … Original engine block 2461 currently owned by an American collector.’ A continuous, but very convoluted, history from new with little of the original 2461 remaining, the fate of most Birdcages. So, whatchagot here? It’s the continuation of the original 2461, having never lost its original identity although most of its significant original parts have been lost to the vagaries of competition, both when new and in historic events. Birdcages are known as particularly benign, fast and exciting cars to race and that alone makes this result a reasonable compromise. between history and event entre.
Lot # 243 1976 Chevrolet Corvette Widebody IMSA “Spirit of Le Mans”; S/N 007; White ‘Spirit of LeMans’/Black vinyl; Estimate $900,000 – $1,200,000; Competition restoration, 2- condition; Not sold at Hammer bid of $875,000 – 600/1000hp V-8, aluminum heads, Kinsler FI, 4-speed, coil spring suspension – Built by John Greenwood for Rick Mancuso, raced at Le Mans in 1976, qualified 9th, clocked at over 220 mph on the Mulsanne Straight, but retired in hour 16. Restored to good competition standards and appears to be nearly race-ready. – Pity the poor Muncie 4-speed that has to handle this Greenwood Corvette’s 1000hp, or the aerodynamic limitations of Mulsanne comprehensively overpowered by its brutal power. An epic Corvette, but it is surprising it didn’t find a new owner a the reported high bid. (photo: Darin Schnabel) Lot # 244 1996 Ferrari 333 SP Evoluzione; S/N 015; Engine # 031; Red/Black; Estimate $1,250,000 – $1,550,000; Competition car, original as-raced, 2+ condition; Hammered Sold at $1,250,000 plus commission of 10.00%; Final Price $1,375,000 – Xtrac 6-speed, 18-inch wheels, Ferrari Classiche certified, freshly serviced – Essentially unused. Displayed by Pirelli at the 1996 Geneva Motor Show, then sold to Carlos Hank, later passed from collection to collection with no track time except one appearance at the Monterey Historics in 2008 where it was tested only and did not compete. – Almost 20 years old and still brand new and assiduously maintained both cosmetically and mechanically, this is a pristine example of a famed Ferrari sports racer. Its value here should be considered a benchmark for the model. Lot # 245 1956 Ferrari 250 GT Coupe, Body by Boano; S/N 0625GT; Engine # 0625GT; Red/Tan leather; Estimate $750,000 – $950,000; Visually maintained, largely original, 3+ condition; Hammered Sold at $660,000 plus commission of 10.00%; Final Price $726,000 – Chrome spoke Borranis, Pirelli Cinturato bias ply tires, black wrinkle dashtop and instrument panel, Marchal headlights and grille-mounted fog lights, roll bar – Flawed tachometer face. Good paint, scuffed aluminum window trim, thin window frame chrome. Overspray on old undercoat in wheel wells. Grubby engine and underhood. An OK driver but not very attractive. – This Boano was reported sold at Rick Cole’s Monterey auction in 1989 for $315,000 as the late-80’s Ferrari bubble tested the strength of its surface tension. Sold here for a little over double that result, inflation accounts for 88 points of the 130% increase since 1989 and raises the question if such an increase indicates a similar bubble developing, a question reinforced by RM’s magnanimous estimate range. Handsome, but barely more than good, this is a magnanimous price even though it’s below RM’s estimate range. Lot # 247 1964 Ferrari 250 GT/L Lusso Berlinetta; S/N 5471GT; Engine # 7511; Red/Beige leather; Estimate $850,000 – $1,000,000; Original, modified for competition or performance, 3+ condition; Hammered Sold at $840,000 plus commission of 10.00%; Final Price $924,000 – Chrome spoke, polished rim Borrani wire wheels, 275 GTB engine – Decent older repaint, otherwise original and aged but well maintained. Some stone chips on the nose, well worn but sound original upholstery and interior trim. A good Lusso driver with better performance. – The extra 50 or so hp from the 3.3 liter 275 GTB engine and well maintained presentation make this an appealing combination of the Lusso’s beauty and extra performance. The bidders (and RM’s estimate) successfully compromised on a reasonable value in this transaction. Lot # 251 1973 Porsche 911 Carrera RS 2.7 Touring Coupe; S/N 9113601222; Engine # 6631197; Light Ivory, Black ‘Carrera’/Black leatherette; Estimate $450,000 – $600,000; Visually maintained, largely original, 2+ condition; Not sold at Hammer bid of $430,000 $430,000 – Fuchs alloy wheels, headrest Recaro seats, rear apron, vinyl and cloth upholstery, tool kit, manuals, Porsche CofA – Nicely restored retaining many original features including the interior. Paint shows no wear, small tear in the passenger’s side door trim, clean and fresh interior, all perishable surfaces appear as new. High quality restoration on a highly desirable car. – This car isn’t as good as the estimate suggests and could have been sold at the reported high bid. Lot # 256 1957 Ford Thunderbird Convertible; S/N E7FH173594; Bronze, White hardtop/Bronze; White top; Estimate $80,000 – $100,000; Older restoration, 3+ condition; Hammered Sold at $67,500 plus commission of 10.00%; Final Price $74,250. No Reserve – 312/270hp dual quads, overdrive 3-speed, hardtop with porthole delete, Town & Country radio – An older restoration has held up well. Chips along the hood latch and trunk. White hardtop looks and fits well. Trim is good with dry seals around fender skirts. Seats and dash have faded in color, but physical condition is good. Better than average driver, 2000 AACA Grand National winner. – Sold at the Kruse auction of the Woodhead Ford collection in 2004 for $88,000, then at Barrett-Jackson in 2007 for $99,000, this is a premier Thunderbird bought here for a reasonable price reflecting the age of its restoration. Lot # 257 1969 Alfa Romeo 1750 Veloce Spider; S/N AR1481199; Engine # AR0055102288; Apple Green/Black vinyl; Black cloth top; Estimate $40,000 – $60,000; Recent restoration, 2+ condition; Hammered Sold at $110,000 plus commission of 10.00%; Final Price $121,000. No Reserve – AM-FM, steel wheels, Vredestein blackwall tires, dual circuit brakes with two boosters, A/C – Open headlight, round tail body, thoroughly restored with very good cosmetics. A choice example fantastically restored to original appearance and function. – …. $121,000 for a 1750 Alfa roundtail spider? The world has turned upside down. This is a $40K car on its best (and its best is very good) day. It is beautiful, and likely couldn’t be duplicated for the price it brought, but that is irrelevant. It’s a 1750 roundtail spider. A Hundred Twenty-One Thousand dollars for a 1750 Spider? Unbelievable. Lot # 258 1959 Ferrari 250 GT Coupe, Body by Pinin Farina; S/N 1427GT; Engine # 1427GT; Yellow, Blue stripe and lower body/White, Blue leather; Estimate $300,000 – $375,000; Older restoration, 3 condition; Hammered Sold at $355,000 plus commission of 10.00%; Final Price $390,500 – Borrani wire wheels, blackwall tires, 4-point belts, full original tool roll, original owner’s handbook, sales brochure – An older restoration in the colors of Sweden showing age and use both inside and out. Paint is cracking, upholstery is lightly soiled. A sound and somewhat flamboyant driver condition 250 GT. – No longer a candidate to be a donor chassis for a Testa Rossa replica, but it’s still a challenge to think of a 250 GT Pf Coupe as worth a third of a million dollars. It would have been a better value at a quarter million (itself a difficult concept.)
[Source: Rick Carey]
“More than good enough to be driven happily.”
I see this a lot, Rick, in this report and the one for the Gooding Pebble Beach auction.
This is for a $583,000 Daytona. Does anybody really drive a $600K car that derives its value from its condition and its rarity? I’m astounded.
Love these reports – thank you much.
” . . . but it’s still a challenge to think of a 250 GT Pf Coupe as worth a third of a million dollars.”
Again, what’s hard to believe is that our government has once again devalued a third of a million dollars that far.
David,
I’d like to have time for a dialogue with you, but I don’t, so let me address these two comments and then leave the field.
First, people do drive half million dollar cars and they drive them frequently on events like the Mille Miglia, Colorado Grand and Tour Auto not to mention tootling around town on Saturday afternoons.
They drive 5 million dollar cars, as the assemblage of Alfa 8Cs on the lawn at Pebble Beach made clear.
These are cars. They’re made to be driven. Some guys drive half million dollar cars. Others drive five million dollar cars. The rest of us drive $15,000 cars, which represent about the same portion of our net worths.
It is no less risk for me to drive my Alfa Giulia GT Jr. than it is for some Facebook millionaire to drive a $500K Daytona.
These are not sacred relics (thank goodness.) They’re just cars.
As to the observation on 1/3 million dollar 250 GT Pf coupes, I think you’re confusing your socio/political views with reality. It is exactly the amazement that 1/3 million dollars for a Pf Coupe creates that demonstrates that the value of the currency is NOT reflected in such egregious prices. Results like this are detached from reality and from the other ways of acquiring similar hard assets including collector cars with much more value-for-money.
I am sympathetic to your socio/political point of view, but not to its effect on the collector car market.
The discussion could go on — and thank you for bringing it up — but this is the end of it.
As a child, I heard my late father speak sadly of not having quite enough money to buy a T35 Bugatti for 500 pounds in England in 1954. Instead he bought a glorious Invicta for much much less. But today I realize that 500 quid was a doctor’s annual salary in England. Yes, a jillion dollars for a delicious vintage Ferrari today is a more distant prospect, but expensive cars have always been beyond the reach of most of us.
Keep the marvelous reports coming, Mr. Carey.