Ferrari 70 Anniversary
1957 Ferrari 250 Testa Rossa sells for record $39.8 million
This might not come as a shock, but ultra-rare vintage cars are only
going to get more expensive as time rolls on, particularly if there's a
prancing horse on the car's nose. For example, in 2011, a Ferrari 250 Testa Rossa sold for $16.39 million. In February 2012, a 1964 250 GTO sold for nearly $32 million. Later that year, a 1962 250 GTO sold for $35 million. It was the most expensive car ever sold, making last year's 275 GTB/4 NART Spider and its $27.5-million auction price seem like a drop in the platinum-lined bucket. Now, there's been another high-dollar Ferrari sale.
An unrestored, 1957 250 Testa Rossa was reportedly sold for over $39 million, making it the most expensive car ever sold in the United Kingdom. Just for perspective, $39 million is about 28 LaFerraris or roughly 128 F12 Berlinettas. It's not the most expensive car ever sold, but it still represents a huge sum of money for a classic car. Part of the reason for chassis number 0704 - the car pictured above is 0714, which sold for a mere $12.2 million in 2009 - being sold for so much is down to its excellent provenance.
It made its race debut at the 1957 24 Hours of Le Mans, although it failed to finish. Phil Hill and Peter Collins racked up wins with this exact car in Buenos Aires and Sebring, according to the folks at Hemmings. Combining race wins by a former Formula One World Champion with an unrestored example of an extremely rare car (one of just 34 250 Testa Rossas ever built) makes its monumental sale price almost seem reasonable.
Following its racing life, the 0704 was donated to The Henry Ford Museum, outside of Detroit. It spent 30 years there, before being sold in 1997. According to Hemmings,
the care by The Henry Ford team, which has a voluminous collection of
rare and classic cars, is part of the reason this unrestored car remains
in such good condition.
As this was a private sale, rather than through an auction house, it's unlikely we'll ever know the complete details behind the sale. The pricing information comes from The Daily Mail,
which claims well-placed sources confirmed the price of 24 million
pounds (that converts to $39.2 million as of this writing). The car was
owned by Tom Hartley, Jr., a UK-based car dealer. Hartley admitted to selling the car, although it's unclear who the new owner is, according to Hemmings.
Fresh on the heels of the successful Ferrari 250 GTO (4675 GT) offering, RM Auctions announced that it is representing the 1967 Ferrari 330 P4 / 350 Can-Am (chassis number 0858) for private treaty sale.
This 1967 Ferrari 330 P4, later named 350 Can-Am, has a significant provenance with a well-documented international racing career spanning a number of different continents from Australia to South Africa and Europe. For nearly 40 years it has been under the care of its current owner, during which it has only be shown at very few exclusive events in the United States, including an appearance at the Rolex Monterey Historic automobile races in 1995 and again in 2003.
“With only three original P4s ever built, cars like this exceptional, race-winning example only come to market on the rarest of occasions. RM is delighted to have been chosen to offer this extremely rare and highly desirable example for private treaty sale,” says Peter Wallman, Car Specialist, RM Auctions.
“Having been under the care of its current owner for nearly 40 years, its offering presents a once-in-a-lifetime opportunity to acquire one of the most iconic and achingly beautiful Ferrari sports racing prototypes of all time – truly an important piece of Scuderia Ferrari racing history,” Wallman adds.
Only three 330 P4s were built, chassis numbers 0856, 0858 and 0860. In addition, Ferrari 330 P3 0846 was updated to P4 specifications. These four cars made up the factory team in 1967.
After the 1967 season the international regulations were changed and there was no longer a place for the large displacement sports prototypes. Ferrari brought two of the 330 P4s (chassis 0858, the car offered, and chassis 0860) back to the factory and converted them for use in the North American Can-Am series – an event long awaited by Ferrari’s loyal and passionate US customer base. The formula for a Can-Am car was straightforward: ultra-light body shell and lots of power. The P4s were modified as such in Maranello with notable features including a smooth front-end devoid of any lights, a more stylised rear spoiler and two air intakes curving outward to the fuel injection trumpets.
The heart of the car, however, remained pure P4. 0858’s engine was enlarged to a slightly more muscular 4.2-litres by increasing its bore to 79 mm. Greater compression resulted in an increase in power as well. Both Ferraris were designated as 350 Can-Ams. Entered by William Harrah’s Modern Classic Motors and liveried with longitudinal red and white racing stripes, 0858 ran in three races late in the 1967 season – the Monterey Grand Prix at Laguna Seca, the Riverside Grand Prix and the Stardust Grand Prix in Las Vegas, driven twice by Amon and finally by the young factory driver Jonathan Williams of Britain.
In 1968 chassis 0858 was sold to David McKay’s Scuderia Veloce in Australia and was immediately entered in its only Australian race at Surfers Paradise. Paul Hawkins secured its purchase from Australia and had it shipped immediately to South Africa for the Springbok Series. The 1968 season in South Africa proved to be extremely rewarding for 0858 with five outright victories and two second-place and one third-place finish.
In early 1969 chassis 0858 then made a brief reappearance in Europe where twice it finished first overall but did not finish at Dijon in May because of a flat tyre. 0858 was then sold through David Piper to Alistair Walker who sent it back to South Africa where it was entered in such prestigious events as the 9 Hours of Kyalami, Cape Town 3 Hours and the Laurenço Marques 3 Hours in Mozambique. Piper then bought the car back from Walker in 1971 before its current owner acquired 0858 from Piper. Since its purchase, the owner has treasured this important works Ferrari for nearly 40 years, having only shown it at very few exclusive events in the United States.
The 1967 Ferrari 330 P4 / 350 Can-Am (chassis 0858) was last publicly seen at RM’s Ferrari Leggenda e Passione Auction on May 17th, 2010, where it failed to sell at a high bid of $9,968,750.
For further information on this car, contact an RM specialist at +1 519 352 4575 or +44 (0) 20 7851 7070.
1967 Ferrari 330 P4 / 350 Can-Am chassis 0858 – Photo Gallery