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Monday, February 4, 2013

Bugatti and Ferrari Top the Most Sought After Antique Cars.


Bugatti 1938 

Auction Price: £4m 
One of only two striking, factory-built 625 TRCs ever manufactured, this model (chassis 0680 MDTR) originally belonged to the famed US racing driver and pioneering American Ferrari importer, John von Neumann. When it went under the hammer in Monaco earlier this year, it was accompanied by the original and exceedingly rare matching numbers Type 625 2.5-litre Ferrari racing engine.

1961 Ferrari 250 GT SWB California Spyder

Price Paid: $10,894,900
Sold: May 2008 at Maranello, Italy

Ferrari's racecars had a history of contributing technology to the automaker's street-going vehicles. In this case, it was the car's 3.0-liter V12 engine (the designation 250 stands for the displacement of each cylinder).

Oscar-winning actor James Coburn bought this SWB (short wheelbase) soft-top used in 1964 and owned it until 1988. In 2008, English radio personality Chris Evans bid nearly $11 million for the car, which set a record at the time.

Auction Price: £3.2m
Building on Jaguar's huge success with the tail-finned D-type at Le Mans, the company decided to apply the knowledge gained through racing to its production models, resulting in the now legendary E-Type. The E2A is the crucial "missing link" between the D-Type and the E-Type. This singular prototype tested several new features which ultimately debuted in the E-Type, notably its independent rear suspension set-up.

Auction price: £5.3m 
This striking, one-off Scaglietti Berlinetta coachwork-built 1955 Ferrari 410S sold at the recent Monterey car auction and is a close relative of the 1954 Le Mans-winning 375 Plus. It was the first appearance of the 4.9-litre Superamerica engine and was an award winner at the 2009 Concorso d'Eleganza Villa d'Este.

1957 Ferrari 250 Testa Rossa

Price Paid: $16,390,000
Sold: August 2011 at Monterey, Calif.

Just this year, a 1957 Ferrari 250 Testa Rossa was sold at the Gooding & Company auction during the Pebble Beach collector car extravaganza for $16,390,000, which is about $4 million more than the previous price record-setting Ferrari from two years ago. The car itself is known to collectors as the "666" Testa Rossa (Italian for "red head"), because its serial number from the Ferrari factory is 0666TR. It's the first prototype of all of the subsequent Testa Rossas, which had breakthrough "pontoon" bodywork, as well as a 3.0-liter V12 engine. It raced at LeMans, the Nurburgring, and at Sebring endurance sports car events, though as a test prototype its results were merely average.

1962 Ferrari 330 TRI/LM Testa Rossa

Price Paid: $9,281,250
Sold: May 2007 at Maranello, Italy

Drivers Phil Hill and Olivier Gendebien were the masters of Ferrari's front-engine sports racers, and beat newer mid-engine models to win Le Mans in 1962. Ferrari and other carmakers were moving to mid-engine designs, but racing rules for 1962 allowed this final Testa Rossa a larger front engine, a 4.0-liter V-12.

This car was built on a unique chassis, with beefed-up components for the extra power, and it featured an all-independent suspension. Hill loved the shape of the body, and following the '62 LeMans race, the car began racing in North America. Roger Penske crashed the car in 1963 at LeMans.

1965 Shelby Daytona Cobra Coupe

Price Paid: $7,685,000
Sold: August 2009 at Monterey, California

Six of these racing coupe versions of the iconic Shelby Cobra were built. Peter Brock designed the coupe body to improve aerodynamics and increase top speed. This one won the 24 Hours of Daytona race in 1965, as well as races in Monza, Spa, and the Nurburgring. It also won the maker's championship at the Reims circuit in France, where it was driven by Bob Bondurant

Auction Price: £12m 
The second big ticket classic to be snapped up by Chris Evans, the Ferrari 250 GTO has been called the Leonardo da Vinci of motoring and is one of just 36 specimens. Evans has described the car, which he has wanted to own all his life, as 'the beauty and the beast rolled into one'.

Auction Price: £3.5m 
Originally conceived as the 'Cobra to end all Cobras', this is one of just two Super Snakes, both of which were created by Carroll Shelby. He gave one of those to Bill Cosby, and kept the auctioned model (CSX 3015) for himself. This tyre-shredding monster is powered by an 800bhp supercharged V8 linked to a super three-speed automatic transmission.

Auction Price: £3.3m 
Ferrari has been called a racing company with a production department, and nowhere is that emphasis more evident than in the company's production sports cars of the early 1950s. Many of the most famous and talented drivers took the wheel of this Ferrari, more recently it was owned by F1 organiser Bernie Ecclestone.

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This Ford GT40, used in Steve McQueen's classic film Le Mans, sold for a record $11m. It is the higgest price ever paid for an American car at auction, and was snapped up at the Monterey car auction over the weekend of 18 August 2012. Built in 1968, this GT40 was sold to Solar Productions in 1970 and driven in the film Le Mans by Jacky Ickx. It had the roof removed to enable the crew to film out of it at high speed.



Seven figure deals at the top auto collector auctions these days, and the trend is there's no limit in sight. It started in 1987, when a Bugatti Royale sold at a Christie's auction in London for $7 million, and in 1988 a barn-find Ferrari sold for $2.8 million in Monterey, kicking off two decades of multi-million-dollar prices for special cars at auction. In 2005, the total take at the four car collector auctions during the week-long Scottsdale Barrett-Jackson extravaganza was $79 million.

To understand this trend, first you need to understand a bit about car auctions: They're way different than a transaction between two people. The auction company charges a fee, called a buyer's premium, from 5% to 17.5% in addition to the selling price of the car, and the buyer has to pay it. Then, the seller may add a seller's premium. That's part of the reason most car collectors tell us an auction is the most expensive way to buy a car. Another reason is that bidding tends to raise competition beyond any other type of negotiation.

Often buyers play with the auction process, looking for cars that do not meet a minimum purchase price, known as a seller's reserve, and then the buyers contact the sellers privately after the auction to purchase the car without public scrutiny. (IRS agents patrol high-dollar auto auctions.) However, an auction is a way to make a transaction happen that otherwise might take too long, or might not attract a buyer at all. It is likely private transactions have resulted in higher prices than the following auction results, but we'll never know.

1937 Bugatti Type 57 Atalante Coupe

Price Paid:  ( Just sold for 43,700,000 )
Sold: August 2008 at Monterey, California Once owned by a count in Paris, this supercharged coupe has been painted a number of times. But it retains the original window glass and tan leather, and is an extremely well preserved example of the Atalante road-going sportscar designed by Jean Bugatti, Ettore's son.

Well-known Bugatti collector Dr. Peter Williamson owned this particular car before he died of cancer in 2008. 

Not for sale - 1955 Jaguar XKD

Not for sale  Porsche Spyder 1955