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Vintage Ferrari Car Amass $27.5 Million In Auction

Vintage Ferrari Car Amass $27.5 Million In Auction

Vintage cars are popular as antique objects but few can expect to amass as much in auction as recently the Ferrari NART Spyder amassed in the classic car auction sale held on the 17th August in California.

California – 20.08.2013 – While vintage cars are very popular for antique lovers and many look forward to buying icon vehicles of the past, the prices are always a factor in the auctions conducted.

Vintage Ferrari Car Amass $27.5 Million In AuctionIt seems there are some items for which the antique lovers are ready to pay any amount for obtaining them. Such an occasion arose when a Ferrari NART Spyder of the 1960s, 1967 to be precise, amassed the huge amount of $27.5 million in an auction.

It was virtually a new auction record surpassing all past such auctions in respect of vintage cars. The August 17th auction also was a rare occasion in California where a car from Italian manufacturers took such dominance in sales. In addition; it was also the highest price paid for an Italian manufactured car anywhere in the world as well as in public sales in United States. The next highest price incidentally was paid for a 1997 McLaren F1 Roadster which sold at $8.5 million at Gooding & Co.

As the UK based dealer John Collins and under bidder in the auction remarks; “The NART Spyder is a very special car. They are so rare. They are among the most beautiful of all Ferraris. Some of the biggest collectors in the world own one, and Steve McQueen tried to buy this one after he crashed his.”

It is not uncommon for vintage cars that have gone long out of circulation to be sold at very high prices. For instance; a Bentley Blower going back to the pre-war era sold for $4.6 million. Popularity among the collectors for vintage cars was also demonstrated by the fact that at the conclusion of the auction sale, the organizers had already collected over $301 million. This incidentally was the highest total that was ever collected in classic car auctions across the globe.

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An interesting feature of the auction sale was that Ferrari claimed all the three top spots in terms of prices offered and received. While the NART Spyder convertible topped the list with the unimaginable price of $27.5 million, other two followed in terms of high prices. The NART Spyder was one of the only ten built back in the 1960s. Distinguished buyer was one Lawrence Stroll, a Canadian fashion expert who has the distinction of designing Tommy Hilfiger into a global brand way back in the 1990s.

RM estimated the cost in the range of $14-$17 million and the vehicle was entered in the auction for the purpose of charity by the family of the deceased businessman from Carolina, Eddie Smith who was the only owner of the car. According to an assessment made by a trade journal there are some serious collectors who do not own NART Spyders and look forward to owning one.

Lawrence Stroll was certainly one of the later lots.

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