The May 17 Ferrari auction in Italy certainly generated a lot of press coverage. The biggest news item was the world record auction price of US $12 million for a 1957 Ferrari 250 Testa Rossa and then there was the last production Ferrari F430 which netted US $244,00 for charity.

It wasn’t all wine and roses in Maranello, however, as a number of pricey stallions were left unsold.

“Quite a few of the American vendors had too-high reserves,” John Collins, director of the U.K.-based Ferrari dealers Talacrest Limited, said. “Because of fluctuations in the exchange rate, it’s now more expensive for Europeans to buy cars from America.” For example a Ferrari 330 P4 that came third in the 1967 Le Mans 24- hour race was expected to sell for 8 million Euros, but instead it only attracted bids up to 7.25 million Euros and therefore its ownership did not change hands.

In total 75 percent of the cars sold and 95 percent of the memorabilia changed hands on Sunday which satisfied auction watchers such as Collins, "In the current environment, I thought the sale was going to be terrible. It did far better than I expected.”

For a full list of the winners and losers at the auction, check out the results page.

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Source: Bloomberg

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1 comments:

  (421) posted on 05.24.2009

I was thinking that the P4 will be a nig winner. Well what is most important is the proceeds of this auction.

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