1958 Ferrari Berlinetta Sells for $3.6 Million at RM Auction in London
By Michelle Koueiter
A 1958 Ferrari sold for $3.6 million at RM Auctions' annual event in London on Oct. 26. But other top lots--including another Ferrari, a Lamborghini and an Aston Martin--failed to reach the reserve price for a sale.
A telephone bidder bought the Ferrari 250 GT LWB "Tour de France" Berlinetta for $3.6 million (£2.24 million). The Berlinetta had been the most highly estimated lot, and this car drew the highest bid of the evening.
The Berlinetta lived in the United States for the majority of its years, until a U.K. collector bought it a few years back. It raced in the 2005 Mille Miglia, and the engine was replaced at one point.
RM offered about 100 investment-grade vehicles at the auction, including 25 motorcycles. The event was expected to raise between $19 million and $23 million (£12 million and £15 million).
Of the high-estimate vehicles that didn't sell, a 1961 Aston Martin DB4 GT--one of only 75 built--was estimated at $1,245,906 to $1,405,638 (£780,000 to £880,000).
Buyers also passed on a 1955 Ferrari 750 Monza Spyder, which was estimated at $2,395,974 to $2,875,169 (£1.5 million to £1.8 million). This competition car was one of only 29 editions made. It saw eight straight victories in California in 1955, with American racer Ernie McAfee behind the wheel.
Lastly, a red-and-gold 1972 Lamborghini Miura SV failed to sell. It was expected to draw between $1,197,987 and $1,437,584 (£750,000 to £900,000). It underwent extensive restoration in Australia a few years back.
Last year's London auction saw 87 percent of the cars offered sold, according to RM. The selling rate this year isn't available yet, but RM estimates it at about 70 percent.
"They had to work hard to elicit bids," said Dave Selby of the U.K.-based research company Historic Automobile Group International.
Content provided by AutoWeek.
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