It’s probably worth every penny too

What would you do with $17.99 million if you had one day to spend it? Would you use all of it to buy gold? Perhaps toss in a few million on bitcoins? Maybe you should buy an exotic car or two while you’re at it. None of these scenarios compares to what one man did to his $17.99 million. He used all of that amount to buy a 1959 Ferrari 250 GT LWB California Spider Competizione by Scaglietti during RM Sotheby’s recent auction in New York City. Now that’s a high roller.

Ferrari 250 GT California Spider Sold for $17.99 Million at Auction Exterior
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A 1959 Ferrari 250 GT LWB California Spider Competizione by Scaglietti was sold for $17.99 million during RM Sotheby’s recent auction in New York City

You know what’s funny about this news bit? I’m not even aghast at the thought of somebody spending $17.99 million on one car. That’s the kind of price classic Ferraris fetch these days. There’s even a part of me that wonders if the buyer actually bought the 1959 250 GT LWB California Spider Competizione by Scaglietti at a bargain.

Take a look at the details. The specific model is chassis number 1451 GT. It’s one of only two examples that were built with an all-aluminum body. That distinction alone is worth millions in the eyes of deep-pocketed collectors. If that’s not enough, this specific 250 GT also has a rich racing provenance after finishing third in its class and fifth overall at the 1959 Le Mans 24 Hours. It’s also the veteran of a handful of races throughout the US, most notably the 1959 Watkins Glen Grand Prix.

Ferrari 250 GT California Spider Sold for $17.99 Million at Auction Exterior
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This 250 GT LWB California Spider Competizione underwent a compressive restoration program under the watchful eye of Ferrari’s own Classeiche-certified program

Once it decided to hang up its boots, this 250 GT LWB California Spider Competizione underwent a compressive restoration program under the watchful eye of Ferrari’s own Classeiche-certified program. It has won many awards, including best in class at the Pebble Beach Concours d’Elegance and a platinum award at the Cavallio Classic.

All these facts about this particular example of the 250 GT LWB California Spider Competizione are true. That said, there is one other truth about this car that’s hard to digest. Despite selling for a staggering $17.99 million, this 1959 Ferrari 250 GT LWB California Spider Competizione is not the most expensive Ferrari ever sold in an auction setting. That distinction remains with a 1962 Ferrari 250 GTO that sold for a little over $38 million back in 2014. In fact, if you rank this auction sale among other Ferraris that have sold in a similar setup, this car only ranks ninth among the most expensive Ferraris of all time.

Ferrari 250 GT California Spider Sold for $17.99 Million at Auction Exterior
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Care to venture a guess what car sits one place above it after selling for $18.15 million back in 2015? Another Ferrari 250 GT LWB California Special Competizione. How’s that for a nice coincidence?

References

Ferrari 250

1960 Ferrari 250 GT LWB California Spider Competizione High Resolution Exterior
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Read our full review on the 1959 Ferrari 250 GT LWB California Spider.

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Read more Ferrari news.

Source: RM Sotheby’s

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