Many Ferraris, some rain, a lot of money.
Story and Photos by Alessandro Gerelli
The RM auction was held last weekend in the gardens of Villa Erba in Cernobbio, together with the Concorso d’Eleganza of Villa d’Este. The catalogue included 38 cars and two Riva motor boats. However, it was really a Ferrari show with 16 entries. Recent models included a 288GTO, F40, F50, Enzo and a 599XX. Most others were from the 1960s. Six Bugattis were on the lawn along with a few other Italians (Maserati, Giannini, Cisitalia, Lamborghini, Lancia and Fiat). The auction was a real success: 27 million euro in sales (around 35 million US dollars) with all the Ferraris sold and most of the lots sold at prices higher than the estimate. The top price was the Ferrari 340, sold at about 10 million euros (including a buyer’s premium of 12%).
For comparisons sales figures, read Cost of Our Passions from 2009: https://velocetoday.com/the-cost-of-our-passion-italian-and-french-at-rm-london/ https://velocetoday.com/the-cost-of-our-passion-at-bonhams/
Moretti 750 Gran Sport 1953 sold for 134,400€.
Bugatti Type 46 coupè 1930 sold for 672,000€.
Bugatti Type 57 Ventoux 1937 sold for 324,800€.
Ferrari 288 GTO 1985 sold for 963,200€.
Ferrari 599XX 2010 sold for 918,400€..
Ferrari 250 GT series II cabriolet 1961 sold for 834,400€.
Ferrari 330 GTC 1966: 448,000€.
Ferrari 275 GTS 1965: 795,200€.
Ferrari Enzo 2004: 1,069,600€.
Ferrari F50 1997 sold for 560,000€.
Ferrari F40 1989 sold for 470,400€.
Cisitalia 33DF Voloradente 1954 sold for 128,800€.
Ferrari 400 Superamerica SWB coupè 1962 sold for 2,184,000€.
Ferrari 550 Barchetta 2001 sold for 151,200€.
Bugatti Type 44 Grand Sport 1929 not sold. High bid, 265000€.
Bugatti Type 37 1927 not sold with max bid of 730,000€.
Bugatti Type 40 roadster 1929 sold for 324,800€.
Ferrari 365 GTC 1968 sold for 588,000€.
Lamborghini Miura P400 1967 sold for 425,600€.
Ferrari 250 GT Lusso 1964 sold for 974,400€.
Bugatti Type 30 Torpedo 1924 sold for 313,600€.
Ferrari 340/375 MM: (#0320AM) sold for 9,856,000€.
Cisitalia 202 SMM Nuvolari spider 1947: 425,600€.
Ferrari 275 GTB 1965: 1,120,000€.
Ferrari 250 GTE 2+2 coupè 1962 sold for 235,200€.
I went over to that auction. Great cars, great sounds and excitement. The hero of the night was the ‘cheeky bid’ which bridged the pauses and reignited the bidding handled with great skill by Max.
It was cold but luckily the rain stayed away for the actual auction and in fact much of the time except for when the photos were taken!
I’m curious though. Were the generous premiums paid an indication of an improving economy or a sign that investors are still wary of traditional investment institutions and are instead investing in automotive ‘gold and art’??