As recent sales have proved, the right classic car gains value over time, even more so if it’s a Ferrari. This was confirmed at a recent RM auction Villa Erba on Lake Como, where a splendid Ferrari 340/375 MM Berlinetta Competizione, with Pinin Farina designed bodywork, sold for an astounding €9,856,000.
The reason this Ferrari – beautiful though it is – sold for such a high price could be down to the vehicle’s pedigree. It had an outstanding racing history, culminating in victory in the 1953 Pescara 12 Hours with Mike Hawthorn and Umberto Maglioli at the wheel. A stage win and sixth overall, again with Maglioli this time partnered by Mario Ricci, and a victory on the Guadalupe circuit, again courtesy of the Italian driver, were also part of the car’s achievements. The fact that it failed to get to the chequered flag in either of the two 24 Hour races it took part in – at Le Mans and Spa-Francorchamps – has little bearing; what matters is that it competed in them at all.
The price of the car is a record for collectors auctions in Italy, including those for works of art. Since 1993, only one other car, also a Ferrari, has gone for a higher price: a 250 TR took the bidding up to $16.9 million dollars at a Pebble Beach auction two years ago.