Auctions: 1960 Ferrari 250 GT sells for over $8 million in record-setting RM auction weekend

Although the vast majority of eyeballs were tuned to the madness at Barrett-Jackson this past weekend, that televised car auction wasn't the only high-dollar game in Arizona. RM Auctions brought its usual gaggle of exotic wares to the desert, and the car that came out on top sold for much more than Barrett-Jackson's highest sale, the Batmobile.

Coming out on top at RM last weekend was Lot 164, a 1960 Ferrari 250 GT SWB Berlinetta 'Competizione' that sold for a massive $8,140,000 – the buyer could've nearly bought two Barris Batmobiles for that chunk of change. Lot 122, a 1967 Shelby 427 'Semi-Competition' Cobra, stood at $2,007,500 in second place, just in front of Lot 145, a 1967 Ferrari 275 GTB/4, which sold for $1,842,500.

After all said and done, RM reported $36.4 million in sales. That's a record for RM in Arizona, even though the total number of lots for 2013 was reduced significantly.

RM AUCTIONS REALIZES SPECTACULAR $36.4 MILLION AT SINGLE-DAY ARIZONA BILTMORE SALE

- RM generates more than $36.4 million in sales with 89 percent of all lots sold at its 14th annual Arizona sale

- Single-day sale features selective, handpicked offering of blue-chip automobiles, eclipses 2012 Arizona sale tally by more than 42 percent

- Eight automobiles achieve million-dollar plus results with multiple new auction records set

- Top-seller: 1960 Ferrari 250 GT SWB Berlinetta 'Competizione' sells for record $8,140,000

- RM continues its 2013 auction calendar with the presentation of the Bruce Weiner Microcar Museum and a return to Amelia Island, Florida

PHOENIX, Arizona (January 19, 2013) – RM Auctions, the world's largest collector car auction house for investment-quality automobiles, kicked off its 2013 auction season on a strong note yesterday, realizing an impressive $36.4 million in sales* with a strong 89 percent of all lots sold at its single-day Phoenix, Arizona sale.

Held at the prestigious Arizona Biltmore Resort & Spa, the impressive results represent an all-time high for the international auction house in Arizona, and more significantly, a more than 42 percent increase over the Company's 2012 sale, generated no less by a smaller, more elite offering as RM continued to focus on the top tier of the market.

Headlined by the record-setting sale of the 1960 Ferrari 250 GT SWB Berlinetta 'Competizione', as many as eight automobiles achieved million-dollar-plus results, with numerous new auction records set. Reflecting RM's international clientele, bidders hailed from 17 countries around the world, with a strong showing of European enthusiasts as well as collectors from as far afield as Brazil, Argentina and Australia.

"Our fourteenth foray into Arizona this year was as exciting as ever – our clients from around the world were joined by our equally international team of specialists, from California to the UK and it made for a spectacular, history-making event," says Shelby Myers, Managing Director, RM Auctions – California.

"We are very pleased with the results. We strategically limited our sale this year to a smaller, more exclusive offering than previous years, yet the sales tally for our single-day event was up on our 2012 total by more than 42 percent, a significant increase that reflects not only the exceptional quality of the automobiles presented, but also illustrates the continued strength of the market for 'best of category' examples. The Arizona auction week is widely regarded as a barometer for the new collector car season; the results from our Biltmore sale paint a very positive forecast for 2013 and we look forward to continuing the momentum at our upcoming sales in Georgia and Florida," adds Myers.

Top sales honors at the January 18 auction went to the sale's catalogue cover car - the alloy-bodied 1960 Ferrari 250 GT SWB Berlinetta 'Competizione', chassis 1905 GT. Widely revered by collectors as one of Ferrari's most prized berlinettas, 1905 GT spurred a fierce bidding war between multiple collectors in the room and on the phones, eventually selling to its fifth owner for a remarkable $8,140,000. The outstanding sales price represents a new world record for a Ferrari 250 GT SWB Berlinetta sold at auction. Continuing RM's strong track record for Ferraris in Arizona, the single-day auction presented no less than 11 examples from the famed Italian marque. Among a long list of additional highlights were a truly stunning, Ferrari Classiche certified 1967 Ferrari 275 GTB/4 for $1,842,500 and a magnificently restored, concours-quality 1954 Ferrari 250 Europa Coupe for $1,017,500.

American-built automobiles also attracted strong attention at RM's Arizona sale. Headlining this group was a genuine and fully documented 1967 Shelby 427 'Semi-Competition' Cobra, one of just 29 S/C Cobras built, which well-exceeded its pre-sale estimate to garner a final sales price of $2,007,500. A 1931 Duesenberg Model J Derham Tourster, offered for the first time in more than 40 years, was also hotly contested, realizing a strong $1,320,000.

RM Arizona: Million-Dollar-Plus Sales:
1. Lot 164: 1960 Ferrari 250 GT SWB Berlinetta 'Competizione' - $8,140,000
2. Lot 122: 1967 Shelby 427 'Semi-Competition' Cobra - $2,007,500
3. Lot 145: 1967 Ferrari 275 GTB/4 - $1,842,500
4. Lot 125: 1938 Delahaye 135 MS Coupe - $1,540,000
5. Lot 152: 1966 Ferrari 275 GTB - $1,320,000
6. Lot 167: 2003 Ferrari Enzo - $1,320,000
7. Lot 141: 1931 Duesenberg Model J Derham Tourster - $1,320,000
8. Lot 133: 1954 Ferrari 250 Europa Coupe - $1,017,500

Beyond the group of million-dollar-plus sales, other highlights included a rare 1953 Allard JR 'Le Mans' Roadster, one of just seven built, for $605,000 - a world record for an Allard sold at auction, and a stunning 1955 Lancia Aurelia B24S America Spider, arguably the most desirable post-war Lancia, for $825,000 - a world record for a Lancia Aurelia B24S sold at auction. Full results from the Arizona sale will be posted online at rmauctions.com.

RM Auctions continues its 2013 calendar of events, February 15-16 with the highly anticipated presentation of the Bruce Weiner Microcar Museum, the world's largest collection of the world's smallest cars, in Madison, Georgia (www.handlewithfun.com), closely followed by its annual Amelia Island, Florida sale, March 9, held in conjunction with the renowned Amelia Island Concours d'Elegance.

News Source: RM Auctions

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Ferrari restoring Steve McQueen's 275 GTB/4 to factory condition

Even 32 years since his death, Steve McQueen captures the imagination of driving enthusiasts. The actor's cars continue to fetch big bucks at auction. Last summer at Pebble Beach, McQueen's personal 1970 Porsche 911S, driven in the opening scene of Le Mans, sold for $1,375,000 - a figure nearly matched by the racing suit he donned for the same movie. His metallic brown 1963 Ferrari 250 GT Lusso sold at Christies a few years back for $2.3 million, and now another Ferrari from McQueen's past has returned home to Maranello.

The car in question is a 275 GTB/4 that the King of Cool acquired in San Francisco while filming Bullitt. Sometime after McQueen sold the car, its subsequent owner had its roof chopped off, transforming it into a de facto Spyder (there are only 10 real 275 GTB/4 NART Spyders). The car's new owner, however, has sent it back to Ferrari to have its roof rebuilt and the car returned to original factory specification.

The conversion is being undertaken by the Ferrari Classiche division, which will certify its authenticity once the process is completed. The unit was established in 2006 specifically for that purpose, and has since then dealt with some 3,300 classic Ferraris. 

AN ICON IN MARANELLO: STEVE McQUEEN'S 275 GTB4

Maranello, 11 June 2012 – Ferrari Classiche recently took delivery of one of the more interesting cars ever to leave the factory – a 275 GTB4 that originally belonged to legendary American star, Steve McQueen who took delivery of the car in San Francisco when he was on the set filming Bullitt.

The new owner brought the car to Ferrari Classiche for the company's authenticity certification process, knowing that at some time during the 1980s, when under previous ownership, the car had been converted to a Spider.

Under the provisions of the certification process, a Ferrari can only be authenticated if it is to exactly the same specifications as when it left the factory. To this end, the new owner wisely decided to return the car to its original coupé form and Ferrari Classiche has undertaken the restoration reproducing the roof and buttresses with hand-beaten steel panels.

Ferraris continue to be an excellent investment, as has been shown in a recent report by Business Week on a private treaty sale for $35 million of a 250 GTO built for Stirling Moss.

A world record price that celebrates the 50th anniversary of the launch in 1962 of this homologation special (hence the designation Gran Turismo Omologata), of which just 36 examples were built, and which achieved a seemingly endless series of victories in GT racing in the early 1960s, culminating in three consecutive Manufacturers' titles in 1962, '63 and '64.

The Ferrari 250 GTO has been revered in classic car circles for decades for its combination of thoroughbred looks, performance and motor sports heritage and, in 1990, a 1962 example set a then record auction price of $10,756,833. This world record was to stand for 18 years until it was beaten in 2008 by another Ferrari, a 1961 250 California sold by RM Auctions in collaboration with Sotheby's in Maranello for $10,910,592. That record was again beaten in 2011 by the sale in Pebble Beach of a 1957 250 Testa Rossa for $16.39 million.

A considerable contribution to the interest for classic Ferraris in recent years has come from the company's direct involvement, with its dedicated department providing certificates of authenticity which testify to the originality of a car. Set up in 2006, Ferrari Classiche has to date processed over 3,300 certification requests using the company's exhaustive archive records and original designs.

via: Ferrari

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Ferrari Classiche Restores Steve McQueen’s 275 GTB4 to Original Coupe Body

Ferrari Classiche recently took delivery of one of the more interesting cars ever to leave the factory – a 275 GTB4 that originally belonged to American star, Steve McQueen who took delivery of the car in San Francisco when he was on the set filming Bullitt. 

The new owner brought the car to Ferrari Classiche for the company’s authenticity certification process, knowing that at some time during the 1980s, when under previous ownership, the car had been converted to a Spider.

He or she decided to return the car to its original coupé form and Ferrari Classiche has undertaken the restoration reproducing the roof and buttresses with hand-beaten steel panels.

Set up in 2006, Ferrari Classiche has to date processed over 3,300 certification requests using the company’s archive records and original designs. Ferrari Classiche is an official arm of the Italian brand that provides restoration and maintenance services, technical assistance and Certificates of Authenticity to owners of classic Ferraris.

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