A 1967 Ferrari 275 GTB NART Spider set new world records this weekend at the annual Pebble Beach Concours d’Elegance. The amount of money that bought the car shows that vintage sports cars, especially those with a prancing horse attached to the grille will build at a fever pitch. At the RM Auctions Pebble Beach Concours d’Elegance Annual Auction, a 1967 Ferrari 275 GTB NART Spider sold for an impressive $27.5 Million USD. What makes that even more amazing is that all of the proceeds of this auction went to auction. It is estimated that well over $200 Million USD went to charity.
Some quick information on the car: Just one of ten built, was purchased by civic causes leader and industry giant Eddie Smith, Sr. in 1968. he bought it from one of the original Ferrari importers, Luigi Chinetti in April, 1968. It has remained in his family since the day he bought it. But, the car was put in storage after Smith’s passing in 2007. In those five years, it has appeared three times to the public. His family decided to sell the car so a new owner can appreciate the car for what it is and show it.
The preauction estimate is enough to blow your head off. It did for me. The world’s foremost classic Ferrari appraiser estimated it’s worth to be $14-17 Million USD. However, furious bidding raised the price to an astronomical $27.5 Million USD. The buyer of the car is believed to be Canadian fashion giant Lawrence Stroll.
Under the beautifully sculpted hood is a 300 horsepower V12. It gets to the wheels through a five-speed manual. It is a number’s matching car, with chassis number #10709. It has been restored once, and was originally painted Azzurro Metallizzato, a metallic blue.
Whoever the new owner is, he/she will enjoy one of the most expensive cars in the world. It will take them to a whole new level of prestige and power. I hope that they embrace the car as a glove that will fly down the road. May they use it well.