HomeThe MarketFerraris draw big bids at RM London auction, but so do low-mileage...

Ferraris draw big bids at RM London auction, but so do low-mileage original-condition cars


The scene at RM's London sale | RM photos by Tim Scott, Fluid Images
The scene at RM’s London sale | RM photos by Tim Scott, Fluid Images

Ferraris, of course, led the way at RM’s annual London auction, staged in conjunction with the prestigious Concours of Elegance, but other classic and collector cars offered in original and low-mileage condition also did very well.

The sale offered 80 earth-bound vehicles, plus one aerospace artifact. Sixty-nine of the ground-bound cars sold, an 86.25-percent sell-though, for a total of $36,285, 366.

A 1956 Ferrari 250 GT Berlinetta Competizione “Tour de France” model, one of nine built, topped all sales at $8,118,993. The car had a long racing history and twice finished among the top 10 in the race from which it took its name.

The Cobra on the block
The Cobra on the block

A 1966 Ferrari 275 GTB, one of 60 produced with alloy bodywork, achieved $3,266,261. Two other Ferraris — a 2003 Enzo and a 1989 F40 — also were among the top-5 in sales.

The third-highest sale, however, deviated from the Ferrari dominance. It was for a 1964 Shelby 289 Competition Cobra that brought $1,959,756. All prices listed here include RM’s buyer’s premium.

“It is wonderful to be reflecting on yet another remarkable sale,” RM Europe’s managing director Max Girardo said in a post-sale news release. “The London auction has always delivered great cars to the market and achieved strong results, and this year has been no exception. The results, which include a strong 86 percent sell through, are a true reflection of the quality of the vehicles presented.”

Speaking of quality, a 1989 Ferrari 328 GTS in classic Rosso Corsa and beige leather colors — and with fewer than 200 kilometers on its odometer — sold for $261,300, double its pre-auction estimate.

Also, a 1990 25th anniversary Lamborghini Countach with 2,600 k on its odo went for $373,287, well beyond its pre-auction estimate, and a 1984 Peugeot 205 Turbo 16, a Group B World Rally Car, more than doubled its anticipated bids while selling for $261,300.

The 'Tour de France' Ferrari on the block
The ‘Tour de France’ Ferrari on the block

A highlight of the auction was the sale of the world’s fastest serially produced vehicle, a CIAM-NASA Hypersonic Flying Laboratory “Kholod.” Capable of achieving 4,925 miles per hour, the aerospace artifact sold for $63,367.

RM Auctions London, Top-10 sales:

  1. 1956 Ferrari 250 GT Berlinetta Competizione “Tour de France,” $8,118,993
  2. 1966 Ferrari 275 GTB alloy, $3,266,261
  3. 1964 Shelby 289 Competition Cobra, $1,959,756
  4. 2003 Ferrari Enzo, $1,586,469
  5. 1989 Ferrari F40, $1,269,175
  6. 1968 Lamborghini Miura P400, $1,082,532
  7. 1958 Mercedes-Benz 300 SL roadster, $1,026,539
  8. 1937 Bugatti Type 57C Stelvio, $989,210
  9. 1955 Lancia Aurelia B24 Spider America, $933,217
  10. 1970 Ferrari 365 GTB/4 Daytona Berlinetta, $905,221

(All prices include buyer’s premium.)

Some of the cars available at RM's London sale
Some of the cars available at RM’s London sale


Larry Edsall
Larry Edsall
A former daily newspaper sports editor, Larry Edsall spent a dozen years as an editor at AutoWeek magazine before making the transition to writing for the web and becoming the author of more than 15 automotive books. In addition to being founding editor at ClassicCars.com, Larry has written for The New York Times and The Detroit News and was an adjunct honors professor at the Walter Cronkite School of Journalism and Mass Communication at Arizona State University.

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