On the occasion of the Palm Beach Cavallino Classic, RM Sotheby's auctioned eleven Ferrari sports cars and some memorabilia, including a suit by Enzo Ferrari, which found a new owner for USD 54,000 during the well-attended gala evening.
On average 35 years young
The average age of the eleven cars, two of which were offered without a reserve price, was just over 35 years. While five of the eleven Ferraris were not even youngtimers and another two were less than 30 years old, the remaining five cars were classic Ferraris from the 1950s to 1980s.
On average, the younger cars were sold for almost the average estimate, while the classics only achieved a good 86% of expectations.
In fact, the only unsold car was a Ferrari from the sixties.
Cheap super classics?
At USD 1.545 million (EUR 1.298 million, CHF 1.19 million), the 1964 Ferrari 500 Superfast fell just short of expectations at best.
However, at this price, this rarity seems almost affordable (especially from a European perspective).
The USD 1.463 million (EUR 1.23 million, CHF 1.13 million) that the Ferrari 250 Europa GT Pinin Farina from 1955 fetched also seems reasonable, especially from the perspective of a euro or Swiss franc payer, which is of course also due to the favorable exchange rate of the US dollar.
The furthest away from the estimated value was a Ferrari 328 GTS from 1988, which was sold for USD 179,200 (EUR 150,258, CHF 137,984) but was not really cheap.
The USD 654,000 (EUR 549,360, CHF 503,580) for one of the five Ferrari 365 GTB/4 Daytona NART Spider Michelotti built in 1971 seemed considerably cheaper.
At USD 2.9 million, the Ferrari 275 GTB/4 from 1967 with chassis number 09931, estimated at USD 3.4 to 3.6 million, which according to the RM documentation has never been completely restored and had a credible mileage of 21,277 km, failed.
Expensive new classics and youngtimers
The most expensive car sold was the Ferrari LaFerrari from 2015 for USD 5.23 million (EUR 4.393 million, CHF 4.027 million).
However, a 1999 Ferrari F355 Spider performed best compared to expectations, finding a new owner for USD 373,500 (EUR 313,740, CHF 253,715). Of course, this black F355 had the manual gearbox that is so sought-after today and, with only 2767 miles on the clock, was almost in new car condition.
With a sales rate of over 90% and a turnover of USD 12.4 million, the short sale (the auction only lasted a good hour) was certainly worthwhile for RM Sotheby's.
Offered and Sold Vehicles
The following table lists all offered and sold vehicles with estimated prices, highest bids, and sale prices. The price conversion was made at the exchange rate valid on the auction day. All information is provided without guarantee.
| Lot | Car | Year | USD Est from | USD Est to | USD HP | USD SP | CHF SP | EUR SP | % Est | S |
|---|---|---|---|---|---|---|---|---|---|---|
| 105 | Ferrari 550 Maranello | 2001 | 300'000 | 350'000 | 295'000 | 329'500 | 253'715 | 276'780 | +1.38%
|
V |
| 106 | Ferrari 328 GTS | 1988 | 175'000 | 250'000 | 160'000 | 179'200 | 137'984 | 150'528 | -15.67%
|
V |
| 107 | Ferrari Scuderia Spider 16M | 2009 | 925'000 | 1'000'000 | 1'000'000 | 1'105'000 | 850'850 | 928'200 | +14.81%
|
V |
| 108 | Ferrari 500 Superfast Series I Pininfarina | 1964 | 1'300'000 | 1'600'000 | 1'400'000 | 1'545'000 | 1'189'650 | 1'297'800 | +6.55%
|
V |
| 109 | Ferrari 488 GTB 70th Anniversary | 2018 | 350'000 | 400'000 | 330'000 | 368'000 | 283'360 | 309'120 | -1.87%
|
V |
| 110 | Ferrari 250 Europa GT Coupé Pinin Farina | 1955 | 1'300'000 | 1'600'000 | 1'325'000 | 1'462'500 | 1'126'125 | 1'228'500 | +0.86%
|
V |
| 111 | Ferrari 458 Speciale | 2015 | 800'000 | 1'000'000 | 800'000 | 885'000 | 681'450 | 743'400 | -1.67%
|
V |
All information is provided without guarantee.
Legend: Column S = Status (V = Sold, N = Not sold, Z = Withdrawn, U = Under reserve)
Est = Estimate, HP = Hammer Price, SP = Sale Price
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