While the iconic 250 series of 1960s-era Ferraris – including the GTO, California Spyder and Testa Rossa – continue to break records at auction, the models that followed are quickly catching up, as those who lusted after them in their wonder years are coming up with the cash to acquire them today. As with any great collector cars, the more perfect and more rare the specimen, the more it'll fetch at auction.
Case in point, three classic Ferraris hovering around the 40-year-old mark each sold for seven figures last week at the RM Auctions Amelia Island event in Florida. One example, a rare Daytona Spyder once owned by Edsel Ford II, brought in $1,017,500 – safely inside the $1-1.25 million estimate range. Another, an alloy-bodied 275 GTB/4 in stunning copper, which was purchased new by Luigi Chinetti and displayed at the 1967 New York Auto Show, went for $1,265,000 – a little short of its estimate. It was bested, however, by a meticulously-restored, concours-winning 275 that greatly exceeded its estimate with a $1,650,000 winning bid.
Along with the headline-catching Duesenbergs, these classic cavallinos helped RM achieve an 88% sale rate at Amelia Island, accounting for over $19 million in sales.
[Source: Autoblog]
http://www.autoblog.com/2010/03/21/3-classic-ferraris-break-the-million-dollar-mark-at-amelia-islan/
OOYYO's comment: Well its good to know some cars actually get more expensive the older they get.
Add this page to your favorite Social Bookmarking websites
