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Monday, 19 August 2013

Ferrari NART Spyder sets $27.5 million auction record -

Ferrari NART Spyder sets $27.5 million auction record - 

A rare 1960s Ferrari convertible sold for a record $27.5 million in a weekend car auction.
The 1967 Ferrari 275 GTB/4*S NART Spyder’s price was the most paid at auction for the Italian carmaker anywhere in the world and the most for any car bought at a U.S. public sale.

“The NART Spyder is a very special car,” the U.K.-based dealer John Collins, one of the underbidders at the RM Auctions event, said in a telephone interview. “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,” said Collins, of the Talacrest dealership.
Classic Ferrari racers from the 1950s and 1960s are the world’s most consistently valuable motor cars, dominating both the auction and private market. Prices for the marque’s investment-grade road cars have surged in 2013. The HAGI F index of collectible Ferraris has climbed 34.3 percent this year through July, according to the London-based analyst company, the Historic Automobile Group International.
The RM event forms part of a bellwether series of classic car sales on the West Coast that also includes high-value selections from Gooding & Co. and Bonhams.
Estimated by RM at $14 million to $17 million, the Ferrari had been entered by family of the late North Carolina businessman Eddie Smith Sr., the car’s one and only owner.
Racing Team
The NART Spyder -- named after the North American Racing Team -- was the brainchild of Luigi Chinetti, Ferrari’s North American importer. Only 10 were built.
Canadian fashion entrepreneur Lawrence Stroll, a motor racing enthusiast, was bidding in the room via an intermediary on Aug. 17, dealers said, who also identified Stroll as the buyer.
An after-hours call to Stroll’s New York office to confirm the purchase was not immediately returned. Stroll built Tommy Hilfiger into a global brand in the 1990s.
Proceeds of the sale of the Ferrari will be donated to charity, RM said.


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