Ferrari 290 MM Sells for $22-M+ at RM Sotheby’s Sale

Ferrari 290 MM Sells for $22-M+ at RM Sotheby’s Sale

$RACE, $BID

In a packed salesroom at the Petersen Automotive Museum in Los Angeles, last week RM Sotheby’s sold a Scaglietti built 1956 Ferrari 290 MM for just over $22-M+ in extended bidding.

Leading the company’s 1st auction at the rebound automotive museum, the 290 MM was campaigned by Scuderia Ferrari in the Y’s 1956 and 1957 seasons, piloted by drivers including Sir Stirling Moss, in some of the most prestigious events the racing world has known.

In Y 2011, the car underwent a full, concours-quality restoration by Ferrari (NYSE:RACE) Classiche to its Y 1957, 12 Hours of Sebring configuration, the final race it entered as a Scuderia Ferrari Works car.

Of the 4 290 MMs built, 3 survive, which made this a rare opportunity to own a 2-seater sports racing barchetta from what can be considered Scuderia Ferrari’s ‘Golden Era’.

Additional highlights from the sale included a 1971 Lamborghini Miura P400 SV by Bertone, which realized $2.2-M, a 2015 Porsche 918 ‘Weissach’ Spyder in Factory Matte Black wrap and Martini livery, which sold for $1.5-M, and a 2015 McLaren P1, which hammered for $1.4-M.

RM Sotheby’s (NYSE:BID) is the world’s largest auction house for investment-quality motocars, with more than 35 years’ experience in the collector car industry

HeffX-LTN’s overall technical analysis on RACE is Bearish to Neutral in here.

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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