1985 Ferrari Mondial Cabriolet Convertible 308/5 Sp 4wpdb 180 Mph Speedo on 2040-cars

Auto blog

Ferrari 400 Superamerica fetches record $7.6 million at auction

RM Auctions and its new partners at Sotheby's are no strangers to setting records at classic car auctions – especially when it comes to Ferraris. And now they've set another with the sale of this gorgeous 1962 Ferrari 400 Superamerica SWB Cabriolet. Sold as part of the father-and-son Paul & Chris Andrews Collection last weekend, chassis number 3309 SA fetched a whopping $7,645,000. That's a fair bit more than the similar, green over red, open-headlight example which the same auction house sold just a couple of months ago for $6.38 million, and far outstrips the $4,070,000 paid earlier this year at Gooding & Co.'s Scottsdale auction for a white Aerodinamico coupe. A 1963 Ferrari 400 Superamerica LWB Coupe Aerodinamico also sold for $2.86 million at the Andrews Collection sale. Succeeding the earlier 410 Superamerica, the 400 Superamerica was the Bugatti Veyron of its day: extremely expensive, exceedingly rare, and incredibly fast. Only 47 examples were made, seven of which were bodied by Pininfarina, and this was the last of them: a convertible with removable hard top and covered headlights. This was the show car which Ferrari exhibited at both the Geneva and New York auto shows upon its completion, originally in red over tan, before its first owner took it to the Bonneville Salt Flats. It subsequently bounced between a few owners over the following decades, undergoing restorations along the way and picking up numerous awards. It most recently served as the centerpiece of the Paul and Chris Andrews Collection in Fort Worth, TX, which RM Sotheby's liquidated over the weekend. The Superamerica was, of course, the top lot sold, but far from the only one: the auction featured another 15 seven-figure lots, including Packards, Duesenbergs, and more. All told, the event brought in a massive $53,887,585, setting a new record for a private automobile collection auction after every one of the lots sold.

What's the smarter investment, Ferrari stock or a Ferrari?

Fiat Chrysler Automobiles is gearing up to spin Ferrari off into its own company, and float some of its shares on the stock market. But buying and trading in Ferrari stock could face a rather unlikely competitor from within. As Bloomberg points out, the values held by classic Ferraris keeps going up, and by no small margin. Even something as relatively humble as the 80s-era Testarossa, for example, has nearly doubled in value over the past year alone. Meanwhile the value of some models – particularly those built in the 1950s, 60s, and 70s – have skyrocketed nearly seven-fold since 2006. Just look at the 250 GTO, one of the most coveted of classic Ferraris among collectors: not taking inflation into account, they were worth thousands in the late 60s, were already selling for hundreds of thousands in the 1980s, and by now are trading hands – on the rare occasion when they do trade hands – for tens of millions. One sold in 2004 for $10 million, and another in 2013 for over $50 million. Those kinds of increases can make a vintage Ferrari seem like a sound investment. That might make it difficult for Ferrari's stock to compete. The company hopes investors will view it as a luxury goods manufacturer along the likes of Prada, Hermes, or Louis Vuitton Moet Hennessy, the stocks of which tend to increase in value at a greater rate than those of most automakers. But even the best of those luxury stocks have merely doubled in value since 2006, compared to the aforementioned seven-fold increase enjoyed by some classic Ferraris over the same period. Add to that the prospect of actually getting to enjoy owning a classic Ferrari – albeit at the risk of damaging it and hindering its value – and the idea of investing in Maranello's products instead of its stock can seem like a much more enticing prospect. Related Video:

Last Ferrari 275 GTS/4 NART Spider could top $26m at auction

One of the prettiest convertible Ferraris built, the NART Spider is also one of the rarest – only ten cars ever left the factory. This specific car was the last off the line, and has the additional distinction of being the only NART Spider sold new in Europe. It was also the only one painted in the Grigio Scuro shade of medium grey from factory. It has been redone in a tasteful red, which is an interesting change from the usual bright Ferrari color. It is also the third-to-last Ferrari 275 to be built altogether. The NART name stands for North American Racing Team, and the drop-top production run is credited to the U.S. Ferrari distributor Luigi Chinetti, who wanted to boost the 275 model's sales with a limited edition convertible model. Originally, Ferrari planned to build 25 cars, but despite the racing pedigree only ten found owners. The first NART Spider finished second in class at the 1967 12 Hours of Sebring, and the model also has some Steve McQueen cool about it due to a starring role in The Thomas Crown Affair. This car, chassis #11057, was sold new in Madrid to a Spanish Foreign Legion colonel, and spent its first 14 years in Spain. In the early 1980s it was bought by a Swiss collector, who had it restored for the first time, and in the mid-90s it moved to the UK. The current paint scheme dates back to 2001, while the interior's beige leather re-trim is from 2009. Despite a gradual change in appearance, it is a fully numbers-matching car that still retains the 300-horsepower Colombo V12 it received at the Maranello factory. A similar NART Spider was auctioned at RM Auctions' Monterey event in 2013, for a staggering $27.5 million. That specific example, finished in a brighter hue was estimated at 17 million tops, so it will be interesting to see whether this darker car will surpass its estimate at the auction held on May 14th. Related Video: Featured Gallery RM Sotheby's 1968 Ferrari 275 NART Spider View 16 Photos Image Credit: RM Sotheby's Auto News Ferrari Auctions Convertible Classics Steve McQueen RM Sotheby's ferrari 275