Ferrari Auction Set World Records at Vintage Car Sale

1953 Ferrari 250 Mille Miglia Berlinetta. The Ex-Phil Hill, Bill Devin, Count Vittorio Zanon at Ferrari Auction. Sold for US$ 7,260,000 inc.premium. Image courtesy of Bonhams

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Ferrari, the legendary Italian marquee, made world auction records at Bonhams

1913 Pope-Hartford Model 31 “Portola” Roadster. Sold for US$ 192,500 inc. premium. Image courtesy of Bonhams

CARMEL, CALIFORNIA– After two days of intense bidding by vintage car collectors, the results are in for the Bonhams Auctions highly anticipated Quail Lodge auction. The auction brought a total sales figure of $108,000,000, with many world records set for Maserati, Mini, Napier, Rolls-Royce, Speedwell, and most famously, Ferrari.

The vintage car auction which has been considered by many as the “sale of the year” had 117 cars on offer and a 92% sell-through rate. The auction started Thursday night on a very bright note, with the record-making sale of the 1962 Ferrari 250 GTO, which made history when it achieved over $38-million. That sale made the Ferrari race car the most valuable car to ever be sold at auction. But that was just the beginning as Bonhams Auctions went on to set several more records.

Ferrari Auction Set World Records

It was a great two day for the Ferraris. Soon after the sale of the 1962 Ferrari 250 GTO, Bonhams Auctioneers went on to break another incredible nine model records for Ferrari, the most coveted of all marques. A 1966 Ferrari 275 GTB – Bonhams’ catalog cover car – sold for $3,850,000 to the applause of the audience and set a new record for the steel-bodied, non-competition, 3-carburetor model, as did a stunning 1958 Ferrari 250 GT Series 1 Cabriolet when it sold for a very impressive $6,820,000.

A 1973 Ferrari 365 GTS/4 Daytona Spider made a record at $2,640,000, while a 1993 Ferrari F40 LM did the same at $2,200,000, and a lovely 1967 Ferrari 330 GTC sold for $1,017,500. Other Ferrari models that sold for world auction records include 1969 Ferrari 365 GT 2+2: $375,500, 1971 Ferrari 365 GTB/4 Daytona Berlinetta: $946,000, 1991 Ferrari F40: $1,430,000.

A truly rare piece of early American motoring, the 1912 Speedwell 12-J Speed Car – the only Speed Car in existence – surpassed all estimates and achieved $869,000.

The 1963 Rolls-Royce Phantom V Touring Limousine that belonged to the King of Rock ‘n’ Roll, generated a lot of excitement as bidders vigorously contested against one another to own this piece of treasure. After the spirited bidding, the car was ultimately won by an American collector who bought it for $396,000, smashing its pre-sale estimate and setting a record for the model.

1962 Austin Mini Beach Car, a rare and irresistible machine also set a record when it made an astounding $181,500 – more than any other customer Mini ever sold at auction. Records were also made for models from Maserati and Napier when a gorgeous 1967 Maserati Ghibli 4.7-Liter Coupe realized $385,500 (£230,692) and its stunning convertible counterpart, a 1969 Maserati Ghibli 4.7-Liter Spider, achieved $814,000, while the stately 1908 Napier Type 23A 45 HP 7-Seater Touring sold to a private American collector for $1,034,000.

James Knight, Bonhams Auctions Global Head of Motoring, cheered the epochal record of the action which he attributes to the expansion of the auction house motorcar department. He explained:

The growth of the Bonhams motorcar department over the past few years has been tremendous, particularly in the USA. The 2014 Quail Lodge auction clearly demonstrates Bonhams’ position as a serious player and the go-to auction house to achieve world records. We already have some exciting motorcars lined up for our next auctions both in America and in Europe.

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Malcolm Barber, Bonhams Auctioneers Co-Chairman, shares Mr. Knight’s sentiments, praising the cooperation between Bonhams auction house and The Quail: A Motorsports Gathering. He said: “As always, it’s been a pleasure to partner with The Quail: A Motorsports Gathering, one of the world’s premier collector car events, and bring a truly blue-chip selection of motorcars to Carmel. We made history over the last two days and we are very satisfied with the results.”