Friday, November 22, 2013

Vintage and Exotic Car Restoration - Ferrari 250 LM Sells for Record $14.3 Million in New York - FZ Restoration Livermore (925) 294-5666


1964 Ferrari 250 LM


A 1964 Ferrari 250 LM sold for $14.3 million at auction in New York today.

Estimated at $12 million to $15 million, it was part of “Art of the Automobile,” the first car auction in Manhattan in more than a decade. Organized by Sotheby’s and RM Auctions, it offered 34 trophy vehicles valued at a combined $50 million.

The salesroom was packed, with the elevators full and champagne flowing at 2 p.m. The winning bidder was on the telephone, represented by RM Specialist Ian Kelleher. While the 250 LM price smashed the record of $6.9 million for the model, it fell short of the top price for the marque: a 1963 Ferrari 250 GTO racer became the world’s most expensive car, selling for $52 million privately.

The red Ferrari, just 44 inches (1.1 meters) tall, was designed by Carrozzeria Scaglietti, on chassis number 6107. Only 32 examples of Ferrari 250 LM have been produced, including the last Ferrari to win the 24-Hour race at Le Mans in 1965.

The car had been owned by Ecuadorian car racing duo as well as collectors from Japan, the U.K. and CaliforniaSotheby’s, RM Auctions, or both companies had an economic interest in the lot, according to the catalog.
source: http://www.bloomberg.com/news/2013-11-21/ferrari-250-lm-sells-for-record-14-3-million-in-new-york.html
by Katya Kazakina

http://www.fzrestoration.com

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