Ferrari 250 GT California sets new auction World Record

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RM AUCTIONS IN ASSOCIATION WITH SOTHEBY'S SETS NEW WORLD AUCTION RECORD FOR RARE FERRARI AT MARANELLO, ITALY SALE

Maranello, Italy (May 18th, 2008) Car enthusiasts and Ferrari collectors from across the globe descended on Maranello, Italy this past weekend for RM Auctions' second annual "Ferrari Leggenda e Passione" auction event to witness a new auction record established for a 1961 Ferrari California Spyder formerly owned by actor James Coburn. The rare car exceeeded all expectations by selling for a world record auction price for a vintage car at auction in the amount of $10,894,900 U.S., surpassing the previous record set at Sotheby's Monaco in 1990 for a 1962 Ferrari 250 GTO at $10,756,000 U.S.

The annual RM Ferrari auction held in association with Sotheby's, put under the hammer an unrivalled collection of historic Ferraris at the legendary home of Ferrari in Maranello, Italy. Among the attendees was one extremely well known Ferrari enthusiast, and British television and radio personality Chris Evans. Chris, accompanied by his wife, golf pro and writer Natasha Shishmanian, attended the Gala reception on Saturday, May 17th where he fell for the considerable charms of a black 1961 Ferrari 250 GT SWB California Spyder. The following day, Chris made the successful bid for his dream machine, which will now take pride of place in his own celebrated collection and the honor of "the most valuable car sold in auction history."

[Wouter Melissen]

The 50 other SWB California owners have just seen their car doubled in value. This is insane.

[Kitdy]

I thought the most expensive car sold at auction was a Bugatti Royale.

I also have heard that 250 GTO's are/were valued at 14 million USD. Is this correct?

[Wouter Melissen]

Originally Posted by Kitdy

I thought the most expensive car sold at auction was a Bugatti Royale.

I also have heard that 250 GTO's are/were valued at 14 million USD. Is this correct?

Closer to 20 for a good example.

[henk4]

Originally Posted by Wouter Melissen

Closer to 20 for a good example.

I think now 30 would be a better guess, to maintain the difference with the California...

[fisetdavid26]

Sweet, at $30 million an example I'll get mine in 1,670.38 years if I continue to work full time at my current job!

Let's just hope they don't increase in value anymore...

[henk4]

Originally Posted by fisetdavid26

Sweet, at $30 million an example I'll get mine in 1,670.38 years if I continue to work full time at my current job!

Let's just hope they don't increase in value anymore...

it should also be noted that the Dollar value has fallen rapidly....so 1 dollar buys you far less classic Ferrari than 5 years ago...,

[fisetdavid26]

Originally Posted by henk4

it should also be noted that the Dollar value has fallen rapidly....so 1 dollar buys you far less classic Ferrari than 5 years ago...,

I can't imagine in 1,670 years...

[Dantera22B]

Originally Posted by henk4

it should also be noted that the Dollar value has fallen rapidly....so 1 dollar buys you far less classic Ferrari than 5 years ago...,

The only car I can think of that you can get for anywhere near 1 dollar is a 1 pound deposit on a Kia

[henk4]

Originally Posted by Dantera22B

The only car I can think of that you can get for anywhere near 1 dollar is a 1 pound deposit on a Kia

read more carefully.....I never said that you can buy a classic Ferrari for one dollar...

[Suka]

I think the real issue here is where the hell did Chris Evans get almost $11 million USD to splash on a new Ferrari...

[Kitdy]

A 1931 Bugatti Royale Kellner Coupe sold for $8.7 million USD in 1987 which adjusted for inflation is $17.6 million USD.

[ScionDriver]

Pshaw, a man would have made a nice round bid of $10.9 mil.

[NicFromLA]

Originally Posted by Wouter Melissen

The 50 other SWB California owners have just seen their car doubled in value. This is insane.

Couldn't have said it better myself.

[ScionDriver]

Somewhere Cameron's dad (Ferris Bueller's Day Off) is crying a little more. Hahaha.