News - Ferrari

Cut-price California

California dream: There was plenty of interest in this two-tone 1959 Ferrari California at the Monterey auction after the recent world record sale in Italy.

Classic Ferrari sells for one-third of the previous world record auction price

Ferrari logo28 Aug 2008

ANYONE who thought that British DJ Chris Evans paid too much for a 1961 Ferrari California in May – a world auction record of $11.6 million – will be left in no doubt after a similar car sold in the US last week for about one-third that price.

The 1959 model 250 GT LWB California Spider, which is essentially the same model as the Evans car, but was not owned by a Hollywood actor, was sold by Gooding and Company at its annual Pebble Beach classic car auction for ‘only’ US$3.6 million (A$4.2 million).

Its price was almost matched by the final bid of US$3,190,000 for the rights to the chassis number one of the Bugatti Veyron 16.4 Grand Sport – set to become the world’s fastest convertible – when it rolls off the production line in the first half of 2009.

 center imageLeft: Rights to the first production Bugatti Veyron 16.4 Grand Sport sold for more than $3 million.

Top price paid at the annual Pebble Beach auction was a North American car auction record of US$7,920,000 for a 1937 Bugatti Type 57SC Atalante Coupe.

This was part of a collection of 15 rare Bugattis, said to be the best in the world, which realised a total of US$15.5 million.

Two Ferrari Daytonas – once the darling of the classic car set – brought contrasting results, with a 1972 GTB/4 coupe bringing only US$363,000 while a 1971 GTS/4 convertible sold for just over US$1 million.

More consistent were a pair of 1950s Mercedes-Benz 300SL Gullwings, including one that belonged to Oprah Winfrey, which each sold for around US$600,000.

A classic Lamborghini Miura P400 brought US$330,000 and a 1977 Countach LP400 US$396,000.

Looking for something a little cheaper? Among the cheapest cars sold at Pebble Beach were a 1963 Amphicar 770, a 1914 Peugeot Bebe two-seater, a 1969 Alfa Romeo 1750 GTV and a 1932 Ford Roadster, each of which sold for US$44,000, or even a 1997 Aston Martin DB7 Volante that went for US$50,600.

In total, the Pebble Beach Concours d'Elegance auction realised US$64 million for 111 sold lots. This included 20 cars that sold for more than US$1 million, but a number of highly fancied cars failed to reach their reserve price.

Click to share

Click below to follow us on
Facebook  Twitter  Instagram

Ferrari articles

Motor industry news

GoAutoNews is Australia’s number one automotive industry journal covering the latest news, future and new model releases, market trends, industry personnel movements, and international events.