Auto Service World
News   May 25, 2007   by Auto Service World

Ferrari Auction Sets Sales Records

The much anticipated auction of important Ferrari sports and racing cars hosted by RM Auctions in association with Sotheby’s, made history of its own this weekend recording $46 million in sales.
The one-day auction held at the famous Pista di Fiorano race track in Maranello, Italy, featured 33 factory certified road and racing Ferraris along with treasured memorabilia spanning six decades of the famed marque.
The unprecedented event itself attracted an international audience from every continent who purchased 32 of the 33 cars offered for an unparalleled sell through of 97% and an average selling price of over one million dollars.
Setting several world records, the sale was highlighted by the exceptional $9.4 million sale of the Le Mans winning 1962 Ferrari 330 TRI/LM Testa Rossa (Chassis 0808) that was piloted to victory by world champion Phil Hill and Oliver Gendebien — one of the most valuable and important Ferraris ever offered at auction.
One of most recent offerings was Felipe Massa’s first Grand Prix winning 2006 Formula 1 car that changed hands at $2.2 million.
Top sellers of the memorabilia collection from Ferrari’s archives was a 1:24 scale model of a F2004 race car used for wind tunnel testing that drew a bid of $66,800 and an original Formula 1 steering wheel used by world champion Michael Schumacher during the 2005 racing season which brought $85,387.
Filippo Lotti, Managing Director, Sotheby’s Italy, commented: “We are delighted with the results of today’s sale at Maranello, which are testimony to Sotheby’s unique association with RM Auctions and its relationship with Ferrari.
Each company’s global expertise and knowledge has contributed to the tremendous prices and overall results achieved, and we very much look forward to working with RM Auctions and Ferrari in the future.”
“The success of this event was made possible through the collaboration of a great team from RM, Ferrari and Sotheby’s,” remarked RM founder Rob Myers. According to Mike Fairbairn, cofounder of RM Auctions.
Attendees of the auction preview were treated to an exclusive demonstration by Ferrari’s top F1 test driver Luca Badoer who delighted the audience and international journalists with a few laps around the famous Pista di Fiorano race track in Maranello driving the 1962 Ferrari 330 TRI/LM.
Other historic laps were made by other auction cars including the 1953 Ferrari 340 MM, and the 1987 F40 Prototype.
Celebrating nearly 30 years in the collector car industry, RM Auctions Inc. and its associated companies are responsible for acquisitions, restorations and sales of the world’s rarest and most valuable vintage automobiles.

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