The auction of a single car began at 18:00 on Thursday, July 16, 2023 at Artcurial's headquarters in Paris. The auctioneer opened at EUR 10 million, quickly reaching 14 million. After ten minutes, it was clear that a telephone bidder had won the bid for EUR 14 million, the few spectators on site clapped and the auction ended.
Including the surcharge, the 1964 Ferrari 250 LM with chassis number 5901, which according to Artcurial had never raced, had changed hands for EUR 15.771 million.
Wenger Ferrari 250 LM built as 250 GTO
Only 32 Ferrari 250 LMs were built from 1963 onwards, the most famous of which won Le Mans in 1965 with Masten Gregory and Jochen Rindt at the wheel. This was Ferrari's last overall victory at the 24 Hours of Le Mans until June 2023!
The auctioned car (Artcurial)
The complete history of the Ferrari 250 LM with chassis 5901 was prepared and documented by Ferrari specialist Marcel Massini. According to the build card for this 250 LM, its tubular frame was delivered to Carrozzeria Scaglietti in Modena on June 24, 1964. On September 18, 1964, the final assembly of the engine was carried out by mechanic Baschieri under the supervision of foreman Amos Franchini. Franchini also supervised the assembly of the gearbox, which was completed by Ivo Giusti on September 23.
The official order from Luigi Chinetti, the owner of the N.A.R.T. racing team and Ferrari importer based in New York, was dated November 6, 1964; the manufacturer's invoice followed on November 14. On November 20, the car was brought to the port of Livorno and loaded onto the cargo ship "Maria Costa", which then sailed to New York. After its arrival, Chinetti sold the car to its first owner, Raymond John Augusterfer from Philadelphia.
On February 5 and 6, 1966, the 250 LM was entered by the N.A.R.T. team as a substitute car in the 24 Hours of Daytona, but as none of the participating cars suffered any damage, it remained in the paddock and did not take part in the race.
Chinetti bought the car back the following year before selling it to George Arents of Warren in 1968 and Walter and Irene Young of Wilton in 1969. After passing through Kirk F. White Motorcars in Philadelphia, the car was acquired by William B. Rearden (of Villanova, Pennsylvania) on June 29, 1970, in exchange for his Ferrari 330 P Spider and the sum of $16,500. Rearden kept it for eight years. The car appeared in issue 37 of Prancing Horse, the magazine of the Ferrari Club of America, alongside the 330 LMB and the Dino 246 GTS in his collection. It was also shown at the Ferrari Club's annual meeting at Lime Rock on June 1, 1974 and driven in the Ferrari parade before the start of the Formula 1 race at Watkins Glen on October 5, 1975.
In February 1978, Rearden sold his 250 LM No. 5901 to Robert Bodin of Minneapolis, who registered it as "CWR 118" in Minnesota. Bodin showed the car at the Ferrari Club of America's fourth annual meeting at Road Atlanta on June 25, 1978, and drove it there again the following June. After some restoration work, he sold the car on January 16, 1982 to Joseph Rosen from Patchogue (New York), who registered it with the license plate "FIAT-X-19". Over the next ten years, Rosen regularly took the car to meetings and concours events organized by the Ferrari Club of America or to historic racing events such as those at Laguna Seca, Elkhart Lake or Mosport.
In September 1995, No. 5901 was offered for sale by Ferrari of San Francisco at a price of $1,600,000. Through this dealer, the car entered the collection of Massimo Ferragamo, the son of the founder of the Ferragamo fashion house, who was CEO of the company in the USA at the time and lived in New York. Ferragamo sold it in November 1997 to the leading collector and hotel owner Mody Enav in Geneva. The car was then sent to Ferrari specialist DK Engineering in England, who completely restored it in 1998 and 1999. It was given the British registration number "619 TOD". After being presented at the Louis Vuitton Concours d'élégance at the Hurlingham Club in June 1999, it was sold to Jean Guikas in March 2002, who sold it on to a leading European collector in the same year.
Its new owner hardly used it for 20 years and has only covered around 2000 km since its restoration by DK.
The car was recently inspected by Ferrari Classiche in Italy, resulting in a full 'Technical Report' dated July 19, 2022. This report notes that the engine number is not stamped correctly, but that the numero interno is entirely correct. The simple explanation is that during the surface treatment of one of the two head gasket levels of the block, the engine number on that level was obliterated, while the internal number remained untouched. The number was therefore restamped, which was certified by the factory with the stamp "Ferrari Classiche" next to the number. Minimal work is still required to issue the red book (Ferrari Classiche certificate) (brake disks, original exhaust silencers).
Further information can be found on the Artcurial website.
Note: This Ferrari 250 LM was already offered by Artcurial at the auction on the occasion of the Rétromobile Paris on February 3, 2023. The highest bid of EUR 20 million was not enough for the sale at the time. In the meantime, the reserve price has apparently been significantly lowered, as the auctioneer reported that a sale was possible at EUR 13 million.
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 | EUR Est from | EUR Est to | EUR HP | EUR SP | CHF SP | % Est | S |
|---|---|---|---|---|---|---|---|---|---|
| 01 | Ferrari 250 LM | 1964 | 13'500'000 | 20'000'000 | 14'000'000 | 15'771'200 | 15'298'064 | -5.84%
|
V |
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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
