1958 Ferrari 335 S Spyder Wins 5th Annual The Peninsula Classics Best Of The Best Award

1958 Ferrari 335 S Spyder Wins 5th Annual The Peninsula Classics Best Of The Best Award

$RACE

The 5th Peninsula Classics Best of the Best Award has been won by a 1958 Ferrari 335 S Spyder Scaglietti, completing yet another wonderful story of automotive redemption.

This 1 of 4 Ferrari factory team cars spent a long period of its life abandoned, before being reclaimed, restored and returned to prominence.

The Ferrari 335S Spyder is the ultimate development of the front-engined Ferrari Sports racing Spyder. In period, this Scaglietti-bodied creation was called “the super Testa Rossa” thanks to its strong performance, 4 were built, 3 survive.

The 335S Spyder was 1 of the fastest cars on Earth at the time, running a 4-liter, quad cam V-12 with 6 dual 42mm throat weber carbs, and producing 390 hp. With its aerodynamic shell, it was capable of 300 km/h (186 mph).

One of the sister cars ran the 1st 200 km/h lap (that means it averaged 200 km/h (124 mph) over the then 8.38-mile/13.5-km course) during the Y 1957 Le Mans 24 Hour.

Another crashed and claimed the life of driver, Alfonso de Portago, American co-driver Edmund Nelson and 10 spectators during the 1957 Mille Miglia, resulting in the banning of racing on public roads.

As a team, they won the 1957 World Sportscar championship.

The Peninsula Classics Best of the Best Award is the de facto world championship of Concours cars, drawing its contestants from the winners of “best in show” at 8ht of the most prestigious Concours events in Europe and America in the previous 12 months.

The 1958 Ferrari 335 S Spyder qualified for the award final in Paris by winning the 2019 Cavallino Classic Concorso d’Eleganza in Palm Beach Florida on 26 January 2019, so it has been an entire year of waiting for the car’s owner Andreas Mohringer, knowing he’d be one of the 8 finalists.

It was the 2nd year running that Mr. Mohringer’s Ferrari 335 S Spyder had qualified for the final, having also qualified for last year’s award by winning the Best of Show award at Villa d’Este in 2018.

Last year the Ferrari came up against formidable competition for the Best of the Best award, in the form of David Sydorick’s 1937 Alfa Romeo 8C 2900B Touring Berlinetta, a car dubbed, “the world’s most acclaimed concours car.”

Originally displayed at the New York International Auto Show in February, 1959, the Ferrari 335S Spyder was raced by its first owner, Texan Alan Connell, in period at Watkins Glen, Daytona, Riverside, Elkhart Lake, Virginia International Speedway, and in Nassau Speed Week in December, 1959. It did not win in the Bahamas, but a sister car did. It raced primarily in the North American Racing Team (NART) colors of the Ferrari distributor of North America, Luigi Chinetti, and won 3 straight SCCA races in late Y 1959 in those colors, including Daytona.

In May 1960, the Ferrari suffered a blown engine and was sent back to the Ferrari factory to assess the cost of repairing it. The costs were considered too great and the car was sent back to America with the engine requiring considerable repairs. Ferrari distributor Luigi Chinetti refused to take delivery of the car and Mr. Connell did not either, so it was left unclaimed at a New York customs facility while accumulating storage costs.

More than 12 months later, a deal was done to pay the storage costs of approximately $900 and the car and engine were separated; shortly thereafter, the chassis was fitted with a competition engine from a Ferrari 250 GT SWB. It was to be another 15 yrs before the original engine and chassis were reunited by then owner, Rob Lamplough of Great Britain.

Mr. Lamplough competed in the car in the 50th anni of the 24 Hours of Le Mans in Y 1974, and dropped a valve just outside Padua while competing in the 1985 “Coppa d’Italia”.

Since then, the car has been largely recognized for what it is: a “Mona Lisa car.”

It may have been considered worth $900 in Y 1960, but by Y 1990, when it went to auction with Christie’s at Pebble Beach, it achieved a high bid of $9,000,000. The bid was refused as being inadequate, and the market pulled back.

In Y 1998, the car was purchased by telecommunications entrepreneur Bruce McCaw for $5.5-M. Mr. McCaw enjoyed the car to its limits, racing it in the Monterey Historic Races regularly over the next decade, before selling it to current owner Andreas Mohringer.

Mr. Mohringer has restored the car to its original NART racing colors.

Ferrari is the Aristocrat of the automotive sector.

Enzo Ferrari’s iconic Italian Supercar manufacturer claimed the title according to the latest Brand Finance Global 500 2019 report launched at the World Economic Forum in Davos.

HeffX-LTN overall technical outlook for RACE is Neutral to Bullish, there is resistance at 169.07, and Key support is solid at 164.19, the stock has established strong long term support. The MACD is Very Bullish in here

Ferrari finished at 166.76, -2.04 Friday in NY.

Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term luxury products investment, and I have called it at it at 200+/share long term, adjusting it to 200/share short term and siding with BAML to 230 long term for now.

Have a terrific weekend

 

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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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