Ferrari 275 NART Spyder sets auction record at $27.5m in Monterey



2015-06-26 13:24:03

Ferrari 275 NART Spyder sets auction record at $27.5m in Monterey

The 1967 Ferrari 275 GTB/4 NART Spyder is the most valuable road car ever sold at auction

RM Auctions' Monterey sale has seen a new world auction record set by a stunning 1967 Ferrari 275 GTB/4*S NART Spyder, one of the rarest and beautiful Ferraris ever produced.

The car sold for an impressive $27.5mon August 17 at the Pebble Beach Concours d'Elegance, smashing the record for the most valuable road car ever sold at auction, as well as becoming the highest-selling Ferrari at auction.

Ferrari 275 GTB/4 NART Just 10 examples of the Ferrari were built, between 1967 and 1968, an idea that came from the company's North American distributor, Luigi Chinetti

It even came close to the overall record for any car at auction, which was set at $29.6m by Juan Manuel Fangio's Mercedes-Benz W196 at Bonhams in July.

The $16.3m Ferrari 250 Testa Rossa that sold through Gooding & Company in 2011 held the previous record for a Ferrari at auction.

There were just 10 examples of the Ferrari NART Spyder - described as "the most satisfying sports car in the world" by Road & Track magazine - ever produced, with this example made even more special by its single owner from new.

It belonged to the late Eddie Smith Sr, who personally collected it from the Ferrari factory in Maranello, Italy. Following his death, the decision to donate profits from the sale to charity was made by his son, Eddie Smith Jr:

"In making the difficult decision to part with the N.A.R.T. Spyder, we wanted to do something that would have brought a smile to my dad's face. He owned Ferraris for all the right reasons and loved driving and enjoying them in the company of fellow enthusiasts.

"We feel that it needs to be enjoyed and driven by someone who will appreciate the car with the same passion as he did."

UK dealer John Collins, who was outbid in the sale, told Bloomberg news: "The NART Spyder is a very special car. They're so rare. They're among the most beautiful of all Ferraris. Some of the biggest collectors in the world own one, and Steve McQueen tried to buy this one after he crashed his."

The successful bidder was Lawrence Stroll,the billionaire investor behind the launch of Polo Ralph Lauren in Europe and the Tommy Hilfiger brand.

Mercedes-Benz RM Auctions The 1928 Mercedes-Benz 680S Torpedo Roadster has been expertly restored by esteemed restoration firm Paul Russell & Company

Also highlighting at RM Auctions was a rare and spectacular 1928 Mercedes-Benz T680S Torpedo Roadster, which sold for $8.2m.

Commenting on the continued success of the classic car market, McKeel Hagerty, president of analysts Hagerty, added: "The supply of millionaires is exceeding the number of available great cars. An awful lot of collectors are now clamouring for event-eligible models, and they've become a permissible splurge. The values are climbing."

Visit our Classic Cars news section for more of the latest results from Pebble Beach.

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