The pre sale estimate on the auto was $14-$17 million. The $27.5 million set a record for an Italian auto as well as a record for a car at a public sale in the United States. The sale shows the top end of the luxury market remains very active.
Bloomberg reports on the sale
Source: BloombergEstimated by RM at $14 million to $17 million, the convertible had been entered for charity by family of the late North Carolina businessman Eddie Smith Sr., the car’s one and only owner.
“There are some serious collectors who own NART Spyders, and quite a few who don’t,” said Harvey Stanley, of the U.K.- based dealer DK Engineering. “If you didn’t buy that one, you won’t be finding another.” The Spyder was named after the North American Racing Team by Ferrari’s U.S. importer Luigi Chinetti.
Another example of the NART Spyder was described by McQueen as “one of those red Italian things” when it appeared in the 1968 movie “The Thomas Crown Affair,” co-starring Faye Dunaway. It would have cost about $15,000 when new, dealers said.
The price, which included fees, was the second-highest for any car at a public sale after the 19.6 million pounds ($29.7 million) given for a 1954 Mercedes-Benz W196 that Juan Manuel Fangio drove to two Grand Prix victories, sold by Bonhams in Goodwood, U.K., on July 12.
Kimberly-Clark
A 1953 Ferrari 375 MM Spyder specially commissioned by Jim Kimberly, heir to the Kimberly-Clark (KMB) business empire, sold for a further $9.1 million at RM on Aug. 16.
Top seller at Gooding’s 10th Anniversary auction at Pebble Beach on Aug. 17-18 was a 1957 Ferrari 250 GT 14-Louver Berlinetta which reached $9.5 million, just above its low estimate. It was one of only eight surviving examples and had a race history that included a 4th in Class at the 1957 Mille Miglia.
All three purchases would have secured their new owners entry into the exclusive classic car racing events such as Mille Miglia Storica. These have grown in popularity with wealthy enthusiasts over the last 10 years, said dealers.
The 1997 McLaren supercar, one of just 64 road-going versions built, sold on Aug. 17. Entered by a private U.S. collector, the Magnesium Silver 230-MPH runaround cost about $1 million when new.
“The F1 is only modern supercar that’s risen significantly over its original sale price,” said McKeel Hagerty, president and chief executive of Hagerty. “It’s arguably the greatest supercar ever built.”
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