A 1958 Ferrari was purchased last night for $3.6 million as collectors competed for the premier classic vehicles and didn’t express any interest in the others. Three of the prominent four lots did not sell at a London auction that includes another Ferrari, an Aston Martin and a Lamborghini. The Ferrari 250 GT LWB "Tour de France" Berlinetta was purchased by a telephone bidder at RM Auctions.
Its price including fees was the highest of the evening, amounting to 2.24 million pounds. It was the most highly valued lot, with an expected hammer price of as high as 2.4 million pounds. Senior analyst Dave Selby at the U.K.-based research company Historic Automobile Group International (HAGI) related that there is still interest for established top-level vehicles such as the Ferraris.
The progress for Aston Martins over the last five years has been extraordinary. The HAGI Top 50 benchmark Index of outstanding classic vehicles dropped 0.35% in September. At bellwether auctions in Monterey, California, in August, records were established for the rarest models, while more routine automobiles sometimes had trouble finding customers.
Demand is being lowered by concerns regarding volatile stocks, economic growth and sovereign debt, according to the dealers. The most notable Ferrari, which at one time had its Italian engine changed, spent the majority of its lifespan in the U.S. prior to being acquired by a UK enthusiast and competed in the 2005 Mille Miglia, RM said.
The models that failed to sell include a 1955 Ferrari 750 Monza Spyder, determined at 1.5 million pounds to 1.8 million pounds, and a 1961 Aston Martin DB4 GT, one of only 75 built, valued at 780,000 pounds to 880,000 pounds.