Sotheby’s and the Confused Ferrari

At a recent auction in New York, Sotheby’s sold a Ferrari for $51.7 million.

Making it the most expensive Ferrari to sell at auction and the most expensive Classic sold globally this year.

The final hammer price was $47 million plus a buyer’s premium of 10%.

The eventual sale price was lower than its estimate of $60 million.

The Ferrari was by Scaglietti, the coveted Italian coachbuilder.

This car was individual because it was born a Ferrari 330LM and later converted to a Ferrari 250 GTO specification.

Meaning that it was the only Ferrari Works GTO fitted originally with a 4.0-litre engine.

So, what car sold at auction? A Ferrari 330 LM/ 250 GTO.

Despite the massive price of the Ferrari, it is not the highest-value classic motorcar sold at auction.

A distinction held by a Mercedes-Benz 300SLR Uhlenhaut Coupé that auctioned for €135,000,000 on May 5, 2022.

In 2018, a 1962 Ferrari 250 GTO at Monterey sold for $ 48.4 million.

Incidentally, RM Sotheby’s were the auctioneers at all three sales.

In an auction, it is said that ”bidders raise their hands and egos simultaneously.’