Darin Schnabel/RM Sotheby’s
- This year, the two most expensive Ferraris auctioned at Monterey car week were both estimated to auction for up to $13 million. One fetched $9.905 million and the other didn’t sell.
- At the 2018 Monterey car week auctions, the most expensive car sold was a 1962 Ferrari GTO 250 that fetched a record-breaking $48.4 million dollars becoming the most expensive car ever sold at auction.
- These are the 27 most expensive Ferraris that were up for auction at this year’s Monterey Car Week, almost all of which disappointed and sold for less than or at the bottom range of the auction estimate — or didn’t sell at all.
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A 1962 Ferrari GTO 250 fetched a record-breaking $48.4 million during last year’s Monterey Car Week auctions with RM Sotheby’s. The MSRP for the GTO 250 when it was first released was $18,000, about $150,000 adjusted for inflation, according to Forbes.
In comparison, this year’s two most expensive Ferraris were both estimated to fetch upwards of $13 million. One was a 1958 Ferrari 250 GT LWB California Spider that sold for less than the estimated range. The other was a 1962 Ferrari 250 California SWB Spider by Scaglietti that didn’t sell at all.
Read more: Watch a controversial $20 million ‘Porsche’ fail to sell in a huge auction mishap
In fact, most of the Ferraris sold under the estimated range, and several of the ones auctioned by RM Sotheby’s didn’t sell at all. Only one Ferrari on the list sold above the range.
Take a look at the 27 most expensive Ferraris up for auction at this year’s Monterey car week and how they compared to what they were estimated to go for.
1958 Ferrari 250 GT LWB California Spider: $9.905 million
Mathieu Heurtault/Gooding & Company
The 1958 Ferrari 250 GT LWB California Spider has been called the "classiest Ferrari ever made". This non-metallic grey Ferrari was the 11th of 106 California Spiders, according to Gooding & Company.
The initial auction estimate was between $11 million to $13 million, but the Ferrari ended up fetching $9.905 million.
1962 Ferrari 250 California SWB Spider by Scaglietti: still for sale
Darin Schnabel/RM Sotheby’s
RM Sotheby’s claims that this is likely the most original surviving SWB California Spider. This example was the 55th of 56 SWB California Spiders produced and has had four owners in the past 50 years.
The car is still for sale, according it’s auction profile, but was initially estimated to go between $10.5 million and $13 million.
1962 Ferrari 196 SP by Fantuzzi: still for sale
Darin Schnabel/RM Sotheby’s
This Ferrari is the last of five still-surviving Scuderia Ferrari Sports Prototypes constructed from 1961 to 1962, according to RM Sotheby’s. It’s also the automaker’s first mid-engine Sports Prototype and has been raced at events such as the 1962 12 Hours of Sebring and Elkhart Lake.
The car, which is still for sale, was estimated to auction between $8 million to $10 million.
See the rest of the story at Business Insider
See Also:
- The most expensive car sold this year at auction is now an ultra-rare 1994 McLaren F1 which just auctioned for a record $19.8 million
- See the rare vintage car some call the ‘world’s first Porsche’ that failed to sell at all due to an auction mishap
- Watch a controversial $20 million ‘Porsche’ fail to sell in a huge auction mishap
Source: Business Insider – bchang@businessinsider.com (Brittany Chang)