Ferrari’s (NYSE:RACE) 70th Anni Maranello Auction Results

Ferrari’s (NYSE:RACE) 70th Anni Maranello Auction Results

Ferrari’s (NYSE:RACE) 70th Anni Maranello Auction Results

$RACE, $BID

Automotive art from Maranello was the focus of RM Sotheby’s (NYSE:BID) recent auction, the ‘Leggenda E Passione’ sale held at the weelend.

Among the lots were vintage and classic sports cars from the 1950’s to the last Ferrari LaFerrari Aperta to be built, which fetched $10-M sans the fees.

Also, it was the highest USD amount paid on the day, all of the money from the Aperta #210 sale went to Save the Children fund charity.

Next on the list for highest value-get was a 1959 250 GT LWB California Spider showing 32,586km on the ‘clock’, which sold for AU$12.9-M.

The 3rd biggest buy at the event was a ’58 250 GT Cabriolet for US $6.5-M, but only because another 250 GT with a higher estimate did not sell.

1 buyer paid about US$2.4-M for an original barn find 1969 365 GTB/4 Daytona Berlinetta Alloy, which is the only alloy-bodied 365 GTB/4 Daytona that exists.

Discovered in Japan after almost 40 yrs hiding hiding in a hayloft, this 1-off has a well-documented history and has a surprising 36,390 km on the clock.

I is the only remaining aluminium-bodied production GTB/4, sold new to Luciano Conti, a close friend of Commendatore Enzo Ferrari.

Also featuring at the auction is one of Ferrari’s 70th anni celebration cars, which each example features 1-off livery.

Also present and of note was a *LaFerrari prototype which fetched US$2.25-M, an F50 which picked up US$2.4-M, and an F40 which sold for AU$1,774,600.

*Ferrari used this LaFerrari prototype to showcase the car in Y 2013 before its official debuet. Loyal customers were the 1st to see this HyperSupercar, and Ferrari then held onto it for configuration processes. Ferrari invited every LaFerrari clienti who traveled to Maranello for the celebration to comb over the car as a reference.

With the sale of the LaFerrari prototype, Ferrari required the new owner to sign a document stating the car will remain “inactive” and is for “static display” only.

The car was never homologated for road use and cannot be driven on the road. While $2.25-M seems like a lot of money to spend on a car that cannot or should not be driven, it pales in comparison to recent LaFerrari sale prices.

I expect the prototipo buyer likely owns several Ferrari cars that can be driven for road use. This car is a trophy piece, and its history suggests value to collectors.

Total auction sales added up to US$7.63-M, RM Sotheby’s said in its press release Monday.

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 111.48 11 September 2017 2.12 110.81 111.54 110.39 771,100
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Bullish (0.38) Neutral (0.14) Bullish (0.41) Very Bullish (0.58)

Stay tuned…

 

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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