A Ferrari (NYSE:RACE) 1956 Ferrari 290MM for Christmas

A Ferrari (NYSE:RACE) 1956 Ferrari 290MM for Christmas

A Ferrari (NYSE:RACE) 1956 Ferrari 290MM for Christmas

$RACE, $BID

  • A classic car and artwork auction is coming to the Petersen Museum that all car lover will enjoy

Specialist classic car auction house RM Sotheby’s (NYSE:BID) will round off its 2018 calendar with a remarkable pre-Christmas Sale at the world-renowned Petersen Automotive Museum in Los Angeles.

The museum was founded in Y 1994 by a late friend, auto enthusiast and publishing tycoon Robert E Petersen who launched Hot Rod magazine during the 1940’s and went on to build a publishing empire that he sold 50 years later for $450-M.

The 140-lot RM Sotheby’s sale has been curated to reflect the golden era of Petersen’s magazine activities, with one particular section entitled “Kustom Kulture” featuring 60 lots to be mostly offered at ‘No Reserve’.

They include original artwork for a series of custom car T-shirt designs that sold in huge numbers during the 1960’s and 1970’s (estimates from $2,000 to $11,000), a metal sign promoting celebrated Californian pin-striper Von Dutch ($80,000 to $100,000) and one of the artist’s best-known paintings, Goodbye Cruel World, a macabre Y 1965 canvas depicting someone passing themselves through a mincing machine (also $80,000 to $100,000).

Perhaps most suggestive of Mr. Petersen’s love of custom-built vehicles is the replica of a car called “Mysterion”, the original version of which was created by top hot-rod builder Ed Roth in 1962 and became so famous that the Revell toy company reproduced it in scale model form.

The car itself was subsequently dismantled, but the accurate recreation on offer features 2 V8 engines, 2 gearboxes and a faux-fur-lined interior with built-in television set, just like the original.

There s a Ford “Deuce” Coupe that was the Hot Rod magazine cover car in October 1957 ($400,000 to $500,000), while a section dedicated to “American Icons” spans lots ranging from a beige 1975 Dodge Coronet station wagon originally owned by the late Hollywood star Ginger Rogers ($15,000 to $20,000) to a superbly restored 1964 Shelby 289 Cobra ($850,000 to $950,000).

“Continental Legends”, meanwhile, includes a 1972 Ferrari 365 GTB/4 Daytona that was discovered in Y 2011 after having been in storage for 30 years. It is tipped to realize $725,000 to $825,000, while a 1971 Lamborghini Miura SV could realize up to $2.5-M, I had the 1st SV in the US, it was a supercar.

There is a section dedicated to British cars is highlighted by a 2015 McLaren P1 at $1.3 to $1.7-M, and a 2018 Aston Martin Vanquish Zagato, 1 of 99 and estimated to go for $600,000 to $800,000.

The Star of this Show on Friday, 7 December will appear as the last lot in the sale, under the heading “Grand Finale”

It is a 1956 Ferrari 290MM (featured picture above) that served as an official works racer during the Ys 1956 and ’57 seasons in the hands of star drivers including Peter Collins, Louis Klemantaski, Juan Manuel Fangio, Phil Hill and Alfonso de Portago.

With a list of blue-chip racing successes 290MM is expected to hammer for $22 to $26-M, which will guarantees its new owner’s entry to the most prestigious historic car events in the world.

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 108.42 4 December 2018 -3.26 111.6 112 108.42 397,638
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Bearish (-0.47) Bearish (-0.33) Very Bearish (-0.58) Very Bearish (-0.50)

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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