by Mike -
This car was at the Gooding auction in Monterey in August 2011. The estimate was $900,000 – $1,300,000 and the car sold for $1,540,000!
“Desirable Alloy-Bodied 275 GTB
Believed to Have Less than 60,000 Miles from New
Marvelous, Untouched Condition
Beautifully Preserved Paint, Interior and Engine Bay
Prime Candidate for Preservation Display
Documented by Ferrari Historian Marcel Massini
One of the Most Exciting 275 GTB Discoveries in Years”
What they call “Marvelous, Untouched Condition” I call very bad shape.
Here is a close up of the “Beautifully Preserved Paint”.
There are two questions that come to my mind:
1) Will the new owner restore this car?
2) Restored or not will this prove to be a good investment?
The price guides show the following values for this car:
Hagerty Price Guide (No. 15, May-Aug 2011)
Condition 4: (they do not have a condition 5 in the book) – $850,000
Sports Car Market (mid-year 2011)
These price estimates are very close – I wonder if the new owner knows something that the price guide folks don’t know since the actual price paid is nearly twice the price guide numbers. The price paid is higher than the Condition 1 price!
I just thought of a third question:
3) Is an unrestored, original car that is in very rough condition worth more than a car that has been restored correctly?
I wrote about other Ferraris at the Monterey auctions here.
Please share your comments with me and other readers.
Click on the images for a larger view.
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