Ferrari Auction Price Breaks Record - May 20th, 2008
Egads! There was an auction in Maranello, Italy this past Saturday. You know, one of those affairs where you are best advised to sit on your hands and control any facial tics? Dang good reason too. A 1961 Ferrari California Spyder (one of only 56 ever built) sold for $10,894,900 — the highest price ever paid for a vintage car by auction.
Sotheby’s and RM Auctions organized the sale and Sotheby’s beat their own record — $10,756,000 for a 1962 Ferrari 250 GTO that sold in Monaco back in 1990. Of course the Ferrari 250 is a race car and the Spyder is a street-ready model. Lord in heaven, can you just imagine the insurance premiums on that baby?
Of course the real kicker is that the article on CNNMoney.com points ot that in Europe private collectors are trading Ferraris around for prices north of $11 million. The record-breaker is a black convertible once owned by actor James Coburn who died in 2002.
Posted on May 20th, 2008 by Shorty
Filed under: news |
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