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Ferraris in the 2013 Scottsdale Auctions

By Rick Carey

 

Every Ferrari that crossed an auction block in Scottsdale this January sold. Every one.

That's highly unusual, even in these heady times for Ferrari values, and more unusual since many of the Ferraris offered (10 of 35, to be precise) were built within the past 25 years and were offered in many cases with reserves.

The January Arizona auctions were a major success. Of the five major auctions (Barrett-Jackson, RM, Russo and Steele, Gooding and Bonhams) selling cars in six consecutive days across 13 selling sessions, only Russo and Steele reported a lower total sale in 2013 than a year ago.

The total for the week was $227,967,267. That's up 25 percent from 2012 and 44.6 percent from 2011. The number of cars offered was down slightly (2,140 in 2013, down from 2,265 in 2012 and 2,170 in 2011) but the overall quality of cars, particularly at the top end, was up considerably.

Thirty-one cars brought successful hammer bids of $1 million or more, up from 15 in 2012 and 10 in 2011. Of the $1 million cars, eight were Ferraris, and they brought a staggering $26,097,500, or 37.8 percent of the $68,967,500 brought by the seven-figure cars.

The two top Ferraris – Gooding's 250 GT LWB California Spider S/N 1073GT at $8.25 million and RM's 250 GT SWB Competition Berlinetta S/N 1905GT at $8.14 million – were the week's top sales by a margin of nearly 100 percent above the next highest sale, Barrett-Jackson's Batmobile that brought $4.62 million.

They were joined in the week's top ten list by Gooding's 250 GT Coupe Speciale S/N 1187GT at $2.365 million.

It should also be mentioned that among these eight $1 million Ferraris, two were low-mileage Enzos and one was an F50, giving late model cars a strong representation not seen in other marques – well, except for Barrett-Jackson's sale of the first production (s/n ….0001) C7-generation Chevrolet Corvette, which raised $1.1 million for charity.

In its emphasis on the best cars Scottsdale, mirrored the experience five months ago in Monterey where there was abundant interest in, and money for, the best and most desirable cars. And where the best, most collectible, cars are concerned, Ferraris continue to show that they are the marque of choice.

 

250 EUROPA PININFARINA COUPE, S/N 0343 EU. Metallic green with brown leather. Estimate $800,000 to $1 million. Older restoration, 2- condition. Hammered sold at $925,000 plus commission of 10 percent for final price of $1,017,500. Restored in 2004. FCA Platinum award and third in class at Pebble Beach. Very good paint and bodywork. Engine and chassis are nearly like new except for some preserved original items and a little corrosion on trim pieces. This is fairly a breathtaking price until the Europa's eligibility for events such as the Mille Miglia is taken into account. Lot #133 RM Auctions.

250 GT BOANO COUPE LOW ROOF, S/N 0605 GT; engine #0605 GT. Red with gray leather. Estimate $675,000 to $800,000. Recent restoration, 2 condition. Hammered sold at $760,000 plus commission of 10 percent for final price of $836,000. Restored with excellent paint, chrome and interior. Engine and chassis are thoroughly done without going overboard. Ferrari Classiche certified. The catalog describes this as "a long-term investment," aptly put as there's nothing left on the table at this price. Lot #139 Gooding & Co.

 250 GT LWB SPYDER CALIFORNIA, S/N 1073 GT; engine #1073 GT. Blue sera metallic with tan leather. Estimate $5.5 million to $7 million. Recent restoration, 2+ condition. Hammered sold at $7.5 million plus commission of 10 percent for final price of $8.25 million. Freshly restored by Dennison International with $600,000 in restoration invoices. FCA Platinum and Pebble Beach in 2012, Ferrari Classiche certified. California Spyder and consistent over-estimate results are the norm. Lot #030 Gooding & Co.

 

250 GT PF COUPE SPECIALE, S/N 1187 GT; engine #1187 GT (No. Int. #921-D). Silver-gray with gray leather. Estimate $1.7 million to $2.1 million. Recent restoration, 2+ condition. Hammered sold at $2.15 million plus commission of 10 percent for final price of $2.365 million. Built especially for Emanuele Nasi (married to Aniceta Agnelli), with 410 Superamerica features, unique side profile with darts and attractive greenhouse, but generic open headlight 250 GT nose. Freshly restored. Excellent paint and chrome. Nearly spotless underhood. Pebble Beach second in class in 2009, FCA Platinum, cover feature on Cavallino magazine. Sold by Gooding at the Pebble Beach Auction in 2007, a somewhat scruffy older restoration from Greg Garrison's collection, for $1.1 million. Since then it's had the Bob Smith Coachworks treatment. Intriguing history, but to some not the extravagant example of Pininfarina design that might be expected for the price. Lot #126 Gooding & Co.

 

250 GT SWB BERLINETTA ALLOY, S/N 1905 GT; engine #1905 GT. Red with black interior. Recent restoration, 2+ condition. Hammered sold at $7.4 million plus commission of 10 percent for final price of $8.14 million. Ex-Norman Blank, 2002 FCA Platinum award winner, 2008 Concorso Italiano Best in Show and 2009 Cavallino Classic Platinum. Displayed at Pebble Beach in 2010. Restored with better paint and upholstery. Chassis, underbody and engine compartment sharp. One of the rare, powerful and valuable alloy bodied competition berlinettas, with a known history and no stories. It could have brought more without being over-priced. Lot #164 RM Auctions.

 

250 GTE 2+2 SERIES II, S/N 3177 GT; engine #3177. Black with black leather. Estimate $150,000 to $200,000. Visually maintained, largely original, 3- condition. Hammered sold at $150,000 plus commission of 13.33 percent for final price of $170,000. Failing old repaint over old paint. Worn but sound original upholstery and scuffed, thin chrome. Mostly original. A tired GTE that brought all the money for its condition. Lot #349 Bonhams & Butterfields.

 

400 SUPERAMERICA PININFARINA AERODINAMICA COUPE LWB, S/N 5021 SA; engine #5021SA. Estimate $2 million to $2.4 million. Withdrawn. Lot # 142 Gooding & Co.

 

275 GTB, S/N 8697; engine #0006. Silver with dark blue leather. Estimate $1.2 million to $1.6 million. Recent restoration, 2+ condition. Hammered sold at $1.2 million plus commission of 10 percent = final price of $1.32 million. Restored in the mid 2000s, FCA Cavallino Classic Platinum in 2007 and still in better than new condition. Ferrari Classiche certified. This was 4-cam money not long ago. Lot #152 RM Auctions.

 

330 GT 2+2 SERIES II; S/N 8523 GT; engine #8523. Silver-gray with biscuit leather. Estimate $150,000 to $180,000. Older restoration, 2- condition. Hammered sold at $250,000 plus commission of 10 percent for final price of $275,000.Good older restoration that is holding up well and still looks relatively fresh. Engine compartment is tidy and orderly with only a little evidence of age. In 2002 Barrett-Jackson offered this Ferrari at the Petersen Museum where it attracted an unsuccessful bid of $55,000. At Christie's Pebble Beach auction later that year it sold for $70,500, in essentially the condition in which it was offered here aside from some subsequent mechanical work by Motion Products. This is a benchmark-setting price. Lot # 155 Gooding & Co.

 

330 GTC, S/N 8915; engine #8915. Red with biscuit leather. Estimate $425,000 to $500,000. Not evaluated. Hammered sold at $670,000 plus commission of 10 percent for final price of $737,000. Restored in 2008 by Patrick Ottis, Brad Hoyt and Ken Nemanic. FCA Platinum in 2009. Restored by some of the best specialists, the price of this 330 GTC is still nothing if not awesome and puts into somewhat better perspective the price that Bonhams got for the 365 GTC Speciale on Thursday. At the rate they're going, 330 GTCs will be $1 million cars soon. This much money would buy a super Daytona with change left for several nice Porsches, Corvettes or Maseratis. Lot # 023 Gooding & Co.

 

275 GTB/4, S/N 10195. Blue sera with bright blue leather. Estimate $1.4 million to $1.75 million. Recent restoration, 2+ condition. Hammered sold at $1.675 million plus commission of 10 percent for final price of $1.842 million. Excellent paint, chrome and interior. Boy, is that interior bright. Ferrari Classiche certified. The catalog refers to "its original matching-number [engine] stamping was restored by Classiche." Make your own judgment about Ferrari Classiche "restoring" an engine stamping, but if the engine wasn't originally stamped wouldn't it be better to leave it standing alone on its internal number? Stamping a number where there wasn't one smacks of revisionist history. Lot #145 RM Auctions.

 

330 GT 2+2 SERIES II, S/N 8601 GT. Silver with black leather. Estimate $150,000 to $200,000. Cosmetic restoration, 3+ condition. Hammered sold at $175,000 plus commission of 10 percent for final price of $192,500. Ferrari Classiche certified. Good repaint, chrome and interior. Under the hood and under the car it is not so nice. Sold by RM in Maranello in 2007 for $96,482, then at Amelia in 2008 for $107,250. This is a strong result for a driver-quality 330 GT 2+2. Lot #175 RM Auctions.

 

330 GT 2+2 SERIES II, S/N 9675 GT; engine #9675. Metallic gray with blue leather. Estimate $120,000 to $140,000. Older restoration, 3+ condition. Hammered sold at $132,000 plus commission of 13.79 percent for final price of $150,200. Decent repaint, chrome and interior now showing age and use. Recently serviced as needed and said to run and drive well. Engine is grungy and has some fluid seepage. This is a good car, at an appropriate price. Lot #366 Bonhams & Butterfields.

 

330/365 GTC PROTOTYPE, S/N 10581; engine #10581. Dark red with tan leather. Estimate $400,000 to $500,000. Cosmetic restoration, 3 condition. Hammered sold at $800,000 plus commission of 10.63 percent for final price of $885,000. Badged 330, but built to 365 specs with 15" Campagnolo centerlock alloy wheels for Leopoldo Pirelli, president of Pirelli Spa for "testing" Cinturato tires. Poorly masked old paint job, thin chrome. Upholstery has been replaced but now is lightly soiled. Carpets are lightly soiled also. Underbody is dirty. A driver quality Ferrari. Sold at Gooding's Pebble Beach Auction in 2007 for $385,000 with 7,610 km on the odometer; it has 9,125 km now. The intervening six years have seen this car's condition deteriorate. Its price here is simply astounding, and had the whole Bonhams tent quivering with conversation after it sold. A special car, but that special? Lot #340 Bonhams & Butterfields.

 

330 GTS, S/N 11021; engine #9823. Red with red and black leather. Estimate $650,000 to $900,000. Older restoration, 3+ condition. Hammered sold at $825,000 plus commission of 10.61 percent = final price of $912,500. Good paint, thin trim chrome, gaudy interior colors but in good shape. Tidy underbody. A good driver. Ex-Gene Ponder, which accounts for interior, one of several cars in Arizona this week that traced their ownership history through Ponder and RM's 2007 auction of his collection where this car brought $418,000 with 5,400 fewer km. This result is indicative of the 330 GTS value trend over the past six years, and might even be a bit of a bargain, with room for the new owner to de-Ponder the interior. Lot # 332 Bonhams & Butterfields.

 

365 GT 2+2, S/N 11853. Fly yellow with black leather. Estimate $110,000 - $130,000. Visually maintained, largely original, 3 condition. Hammered sold at $135,000 plus commission of 10 percent = final price of $148,500. Superficially/cosmetically redone with decent paint and interior but little attention elsewhere. Door fits are decent, chrome is lightly scuffed. Looks good on the block, but not up close. A very ordinary Ferrari 2+2 sans the giallo fly paint. It may be a heroic price for a Queen Mother, but is one of the few Enzo-era V-12s that isn't creeping into prohibitive prices. Lot # 112 RM Auctions.

 

365 GTC, S/N 12059. Silver-gray with red leather. Estimate $500,000 - $600,000. Recent restoration, 2 condition. Hammered sold at $660,000 plus commission of 10 percent = final price of $726,000. Good paint, chrome and interior. Ferrari Classiche certified. 4.4 liters are better than 3.96 by almost any standard, and GTCs are emphatically the current hot Ferrari. It won't be long before they're ringing up seven figures if the present trend continues, but here's the problem: is a 365 GTC worth two Daytonas? Lot# 140 RM Auctions.

 

246 GT, S/N 02828. Silver with beige leather. Estimate $140,000 to $180,000. Visually maintained, largely original, 3 condition. Hammered sold at $160,000 plus commission of 13.13 percent for final price of $181,000. Mediocre old repaint, worn original upholstery. Tidy engine and chassis. An honest used car from the Oldenburg Collection. With GTS values heading into the stratosphere, maybe these GTs can be used with fewer concerns. Lot #337 Bonhams & Butterfields.

 

365 GTB/4 SPYDER CONVERSION, S/N 14197; engine #B850. Black with tan leather, black seat strips. Estimate $320,000 to $360,000. Rebodied or re-created, 3+ condition. Hammered sold at $380,000 plus commission of 11.32 percent for final price of $423,000. Lightly scuffed paint and chrome, poor left side windshield fit. Underbody recently resprayed. Good interior. Visibly well-maintained. Spyder conversions are frowned upon by some, but that doesn't lessen their visual impact or enjoyment, factors reflected in the mildly generous price brought by this example. Lot #392 Bonhams & Butterfields.

 

246 GT, S/N 03392. Red with tan leather. Estimate $200,000 to $250,000. Not evaluated. Hammered sold at $265,000 plus commission of 10 percent for final price of $291,500. Cataloged as largely original and unrestored with 38,053 miles. This is a good example of the dynamic values of Dinos, a car that would have been in the mid-$100s not so long ago but now is a $250,000 car and hammered sold above Gooding's high estimate. At least it's less than a Daytona. Lot #137 Gooding & Co.

 

365 GTB/4, S/N 14735. Fly yellow with black leather. Estimate $425,000 to $475,000. Not evaluated. Hammered sold at $375,000 plus commission of 10 percent for final price of $412,500. Recently repainted in giallo fly from the original argento metallizato and the recipient of a $13,000 (yes, $13,000) detailing at Canepa Design. Sold by Gooding & Co. at Pebble Beach last August for $324,500. Lot #143 RM Auctions.

 

365 GTB/4, S/N 15173. Fly yellow with black leather. Estimate $350,000 to $450,000. Older restoration, 2- condition. Hammered sold at $345,000 plus commission of 11.45 percent for final price of $384,500. Good, older restoration with some age and miles. Excellent paint and chrome, good interior. A dusty down in the depths but nonetheless reassuringly presented. It's undeniable that a giallo fly Daytona cuts a wide swathe anywhere it appears, but its original grigio ferro would better complement the design. This is an appropriate price for this Daytona's history, presentation and condition. Lot #347 Bonhams & Butterfields.

 

365 GTB/4, S/N 14999. Maroon with tan leather. Not evaluated. Hammered sold at $450,000 plus commission of 10 percent for final price of $495,000. Known history from new with 9,769 miles. One of the "stored in a Texas barn for 20 years" cars offered at Mecum Monterey in 2011 with eight fewer miles on the odometer. It had reprehensible paint then and no hint of a badly needed repaint here at WestWorld. Offered at Mecum's Monterey auction in 2011 where it attracted a high bid of $325,000, docketed for Mecum's 2012 Kissimmee auction but no result reported. The history is not reassuring, particularly in the absence of any recent service history of significance. Originality is appealing, but not when it equates with significant neglect. The seller should be happy; this money would have bought a much better Daytona. Lot #5014 Barrett-Jackson.

 

365 GTC/4, S/N 15211. Red with black leather. Estimate $160,000 to $220,000. Recent restoration, 2- condition. Hammered sold at $160,000 plus commission of 10 percent for final price of $176,000. The bodywork is wavy but with excellent paint. The leather interior is mildly worn. Underhood is pristine and like new. This car looks sharp and is better than just about any other C/4 out there. At RM Monterey in 2001 this car was a post-block sale at $55,000. Worldwide sold it in Auburn 2008 for $159,500. Then it got restored, selling at RM Monterey in 2011 for $170,500. A fine value for the money, one of few front-engine V-12 Ferraris not commanding eye-popping prices. Lot #159 RM Auctions.

 

365 GTC/4, S/N 15359. Red with black interior and red carpets. No result, probably no-show. On the docket but not reported in Russo and Steele's results. Consignment #3378. Lot #S750 Russo and Steele.

 

246 GTS, S/N 05720. Fly yellow with black leather. Estimate $375,000 to $450,000. Not evaluated. Post-block sale at $363,636 plus commission of 10 percent for final price of $400,000. Cataloged as freshly restored "Chairs & Flares" car. Lot #170 RM Auctions.

 

246 GTS, S/N 06462. Red with tan leather, black seat strips. Estimate $350,000 to $425,000. Not evaluated. Hammered sold at $460,000 plus commission of 10 percent for final price of $506,000. FCA concours winner. Collectors paying more for a Dino than for a Daytona inverts the value relationship. Lot #014 Gooding & Co.

 

412 AUTOMATIC, VIN ZFFYD24B000063601. Dark gray with parchment leather. Visually maintained, largely original, 3- condition. Hammered sold at $27,000 plus commission of 10 percent for final price of $29,700. Decent repaint, sound original upholstery. Dash top delaminating. Grubby underhood. Sold at Russo and Steele at Monterey in August for $39,600, so this has been an expensive five-month ownership. The price here is more reasonable for this car's automatic transmission and generally unattractive condition. Lot #1613 Barrett-Jackson.

 

348ts, VIN ZFFRG36A9N0090729. Red with tan leather. Unrestored original, 2- condition. Hammered sold at $43,450 plus commission of 10 percent for final price of $47,795. 6,575 believable miles showing on the odometer. Good original paint and interior. Clean, tidy, well-maintained original car. Maybe this strong price marks the bottom of the depreciation curve for 348s. Or it might just be an auction exuberance aberration. Consignment #3478. Lot #F451 Russo and Steele.

 

F50, VIN ZFFTG46AXS0104192. Red with black leather and red cloth. Estimate $800,000 to $1 million. Unrestored original, 2 condition. Hammered sold at $1.25 million plus commission of 10 percent for final price of $1.375 million. Essentially unused, driver's seat barely scuffed. U.S.-spec with less than 700 miles in total, bought new by Roger Penske. Lot #008 Gooding & Co.

 

F355 GTS, VIN ZFFXR48A4X0116211. Black with tan leather. Not evaluated. Hammered sold at $67,500 plus commission of 10 percent for final price of $74,250. Major service at 14,900 miles, and now has 16,258 miles. A no-sale at a reported bid of just $50,000 at Mecum's Anaheim auction in November, the seller did well to wait, very well. Lot #0995.1 Barrett-Jackson.

 

355 F1 SPIDER, VIN ZFFXR48A6X0116226. Red with cream leather. Not evaluated. Hammered sold at $49,000 plus commission of 10 percent for final price of $53,900. A 30,000-mile service complete for this 28,000 miles car. Sold by B-J in Las Vegas in 2008 for $96,250 with 26,305 miles. Trace the depreciation curve. Lot #0815 Barrett-Jackson.

 

355 F1 SPIDER SERIE FIORANO, VIN ZFFXR48A8X0116504. Red with tan leather. Unrestored original, 2- condition. Hammered sold at $68,000 plus commission of 10 percent for final price of $74,800. Clean original car with 7,327 miles. Driver's seat bolster scuffed. Good original paint and top. A sound 355 that appears to have been babied but without any evidence of major service, which makes this price a bit generous. Lot #1587 Barrett-Jackson.

 

550 BARCHETTA, VIN ZFFZR52A110124149. Red with charcoal leather. Estimate $175,000 to $200,000. Hammered sold at $170,000 plus commission of 10 percent for final price of $187,000. Three owners from new and 5,789 miles on the odometer. 550 Barchetta prices are not going up, making them an exceptional value in performance and style. At prices like this, eight 550 Barchettas equals one Enzo. Lot #048 Gooding & Co.

 

360 MODENA F1, VIN ZFFYU51A830132411. Yellow with black leather. Not evaluated. Hammered sold at $73,000 plus commission of 10 percent for final price of $80,300. 18,000 miles from new. Lot #1060.1 Barrett-Jackson.

 

ENZO, VIN ZFFCW56A030133923. Argento Nürburgring with black and red interior. Estimate $1.25 million to $1.5 million. Unrestored original, 2 condition. Hammered sold at $1.2 million plus commission of 10 percent for final price of $1.32 million. Two owners from new, just more than 9,000 miles and recently serviced. A little dusty from age but no evidence of use. A few more miles than Gooding's Enzo, and accordingly a bit less costly, but in silver, one of some six believed delivered in that color. Lot #167 RM Auctions.

 

ENZO, VIN ZFFCW56A230131882. Red with black. Estimate $1 million to $1.3 million. Not evaluated. Hammered sold at $1.35 plus commission of 10 percent for final price of $1,485,000. Three owners from new, including Axl Rose, 2,215 miles on the odometer. Enzo prices are going up, not down. Lot #045 Gooding & Co.

 

F430 SPIDER F1, VIN ZFFEW59A370151813. Dark gray metallic with burgundy leather. Unrestored original, 2 condition. Hammered sold at $150,700 plus commission of 10 percent for final price of $165,770. Lightly used, clean car. Sold at Russo and Steele's Monterey auction in 2011 for $154,000. The seller here got a year and half use out of an attractive Ferrari for barely any money at all. Consignment #3517. Lot #S748 Russo and Steele.