Ferrari frenzy continues at Arizona auctions

1964 Ferrari 250 LM sells for $9.625 million at RM | Howard Koby photo
1964 Ferrari 250 LM sells for $9.625 million at RM | Howard Koby photo

Throughout Arizona Auction Week, we bring you daily results as reported to us by Hagerty, the classic car insurance company and pricing-guide publisher, which staffs each of the venues and tracks the sales. These are raw results witnessed by Hagerty staffers and may not include post-sale transactions. Figures do include the buyer’s premium.

Nine of the top-10 sales so far at the classic car auctions taking place this week in Arizona have involved — no surprise here — Ferraris.

Thursday, a 1966 Ferrari 275 GTB Competizione coupe sold for $9.405 million at Bonhams. But that figure was topped Friday when RM rolled a 1964 Ferrari 250 LM coupe across its block and the car sold for $9.625 million.

The top sale Friday at Gooding & Company also was a Ferrari, a 1959 Ferrari 250 GT long-wheelbase California Spyder selling for $7.7 million.

The top four sales Friday at RM and three of the top four at Gooding were Ferraris. Combined, those seven Ferraris sold for just shy of $29.4 million.

Overall through Friday, the Arizona auctions have generated $187.6 million in sales at an average price of $105,557. A year ago through Friday, total sales were $152.2 million and the average transaction price was $97.795.

RM wrapped up its 16th annual Arizona auction Friday with seven cars selling for more than $1 million and with $59.8 million in total sales, a significant increase compared to $43.5 million a year ago. The average transaction price at RM this year was more than $570,000, a big advance from the $410,000 figure in 2014.

Gooding and Silver conclude their sales Saturday while auction action continues through Sunday at Barrett-Jackson and at Russo and Steele. Bonhams held its one-day sale Thursday.

Overall sales through Friday from all auction companies

Cumulative total: $187.6 million
1,777 of 2,014 lots sold: 88 percent sell-through rate
Average sale price:  $105,557

2014 results through Friday
Cumulative total: $152.2 million
1,556 of 1,808 lots sold: 86 percent sell-through rate
Average sale price:  $97,795

Overall Top 10 Sales from all auctions through Friday:

  1. 1964 Ferrari 250 LM Coupe Sold For $9,625,000 (RM)
  2. 1966 Ferrari 275 GTB Competizione Coupe Sold For $9,405,000 (Bonhams)
  3. 1959 Ferrari 250 GT LWB California Spyder Sold For $7,700,000 (Gooding & Company)
  4. 1967 Ferrari 275 GTB/4 Coupe Sold For $3,657,500 (RM)
  5. 1973 Ferrari 365 GTS/4 Daytona Spyder Sold For $3,300,000 (RM)
  6. 1984 Ferrari 288 GTO Coupe Sold For $2,750,000 (RM)
  7. 1966 Ferrari 275 GTB/2 Longnose Coupe Sold For $2,750,000 (RM)
  8. 1966 Ferrari 275 GTS Spyder Sold For $2,365,000 (RM)
  9. 1963 Ferrari 250 GT Lusso Coupe Sold For $1,925,000 (Gooding & Company)
  10. 1971 Lamborghini Miura P400 SVJ Coupe Sold For $1,897,500 (RM)

Results by auction company

BARRETT-JACKSON

Cumulative total through Friday: $69.0 million
1,200 of 1,200 lots sold: 100 percent sell-through rate
Average sale price: $57,505

Overall Top 10 Sales:

  1. 2015 Chevrolet Corvette Z06 Convertible Sold For $800,000*
  2. 2015 BMW M5 Sedan Sold For $700,000*
  3. 1999 Chevrolet Monte Carlo Nascar Busch Series Sold For $500,000*
  4. 1939 Cadillac La Salle C-Hawk Custom Hardtop Roadster Sold For $410,000*
  5. 1940 Ford Boyd Coddington Pickup Sold For $374,000
  6. 1969 Chevrolet Camaro COPO Coupe Sold For $330,000
  7. 1956 Chevrolet Bel Air Nomad Custom Wagon Sold For $275,000
  8. Beverly Hillbillies Custom Truck Sold For $275,000
  9. 1969 Chevrolet Chevelle Yenko 427 Sold For $275,000
  10. 1932 Ford Custom Show Roadster Sold For $269,500

*Sold for charity

Friday total: $23.8 million
298 of 298 lots sold: 100 percent sell-through rate
Average sale price: $79,789

Top 10 Friday Sales:

  1. 2015 Chevrolet Corvette Z06 Convertible Sold For $800,000*
  2. 1999 Chevrolet Monte Carlo Nascar Busch Series Sold For $500,000*
  3. 1939 Cadillac La Salle C-Hawk Custom Hardtop Roadster Sold For $410,000*
  4. 1956 Chevrolet Bel Air Nomad Custom Wagon Sold For $275,000
  5. 1961 Chevrolet Corvette Custom Convertible Sold For $242,000
  6. 1957 Ford Thunderbird ‘E’ Convertible Sold For $220,000
  7. 1957 Chevrolet Corvette Custom Convertible Sold For $220,000
  8. 1968 Oldsmobile 4-4-2 Convertible Sold For $209,000
  9. 1967 Chevrolet Camaro Z/28 Coupe Sold For $198,000
  10. 1957 Chevrolet Bel Air Convertible Sold For $192,500

*Sold for charity

2014 results through Friday
Cumulative Total: $49.1 million
979 of 979 lots sold: 100 percent sell-through rate
Average sale price: $50,168

RM AUCTIONS

Cumulative total through Friday: $59.8 million
104 of 123 lots sold: 86 percent sell-through rate
Average sale price: $574,863

Overall Top 10 Sales:

  1. 1964 Ferrari 250 LM Coupe Sold For $9,625,000
  2. 1967 Ferrari 275 GTB/4 Coupe Sold For $3,657,500
  3. 1973 Ferrari 365 GTS/4 Daytona Spyder Sold For $3,300,000
  4. 1966 Ferrari 275 GTB/2 Longnose Coupe Sold For $2,750,000
  5. 1984 Ferrari 288 GTO Coupe Sold For $2,750,000
  6. 1966 Ferrari 275 GTS Spyder Sold For $2,365,000
  7. 1971 Lamborghini Miura P400 SVJ Coupe Sold For $1,897,500
  8. 1962 Ferrari 250 SII Cabroilet Sold For $1,705,000
  9. 1965 Porsche 904 Carrera GTS Coupe Sold For $1,650,000
  10. 2005 Ferrari FXX Evoluzione Coupe Sold For $1,622,500

Friday total: $32.1 million
49 of 61 lots sold: 77 percent sell-through rate
Average sale price: $681,824

Top 10 Friday Sales:

  1. 1964 Ferrari 250 LM Coupe Sold For $9,625,000
  2. 1967 Ferrari 275 GTB/4 Coupe Sold For $3,657,500
  3. 1973 Ferrari 365 GTS/4 Daytona Spyder Sold For $3,300,000
  4. 2005 Ferrari FXX Evoluzione Coupe Sold For $1,622,500
  5. 1955 Mercedes-Benz 300SL Gullwing Coupe Sold For $1,485,000
  6. 1961 Maserati 3500GT Vignale Spider Sold For $1,347,500
  7. 1932 Packard Deluxe Eight Series 904 Sport Phaeton Sold For $1,045,000
  8. 1967 Aston Martin DB6 Vantage Saloon Sold For $687,500
  9. 1931 Minerva AL Convertible Sold For $660,000
  10. 2005 Ferrari 575 Superamerica Convertible Sold For $517,000

2014 results through Friday
Total: $43.5 million
106/126 lots sold: 84 percent sell-through rate
Average sale price: $410,207

GOODING AND CO

Friday total: $25.3 million
56 of 64 lots sold: 88 percent sell-through rate
Average sale price: $452,071

Overall Top 10 Sales:

  1. 1959 Ferrari 250 GT LWB California Spyder Sold For $7,700,000
  2. 1963 Ferrari 250 GT Lusso Coupe Sold For $1,925,000
  3. 1959 BMW 507 Roadster Sold For $1,815,000
  4. 1965 Ferrari 275 GTS Spyder Sold For $1,595,000
  5. 1964 Shelby Cobra 289 R&P Roadster Sold For $1,155,000
  6. 1990 Ferrari 641/2 F1 Sold For $990,000
  7. 1967 Ferrari 330 GTC Coupe Sold For $907,500
  8. 1956 Maserati A6G/2000 Coupe Sold For $715,000
  9. 1963 Porsche Carrera 2 GS Coupe Sold For $643,500
  10. 1958 Rolls-Royce Silver Cloud I HJ Mulliner Drop-Head Coupe Sold For $550,000

2014 results through Friday
Total: $25.9 million
56 of 59 lots sold: 95 percent sell-through rate
Average sale price: $461,980

BONHAMS

Overall total: $24.3M
71 of 84 lots sold: 85 percent sell-through rate
Average sale price: $342,356

Overall Top 10 Sales:

  1. 1966 Ferrari 275 GTB Competizione Coupe Sold For $9,405,000
  2. 1955 Mercedes-Benz 300SL Gullwing Coupe Sold For $1,375,000
  3. 1958 Mercedes-Benz 300SL Roadster Sold For $1,237,500
  4. 1964 Shelby Cobra 289 R&P Roadster Sold For $1,017,500
  5. 1957 Mercedes-Benz 300SL Roadster Sold For $902,000
  6. 1969 Ferrari 365 GTB/4 Coupe Sold For $748,000
  7. 1938 Bugatti Type 57 Roadster Sold For $671,000
  8. 1914 American Underslung 646 5-Passenger Touring Sold For $528,000
  9. 1953 Mercedes-Benz 300S Coupe Sold For $511,500
  10. 1948 Automobile Shippers Special Indy Roadster Sold For $473,000

Overall 2014 results
Total: $23.5 million
86 of 101 lots sold: 85 percent sell-through rate
Average sale price: $272,890

RUSSO AND STEELE

Cumulative total through Friday: $7.6 million
238 of 379 lots sold: 64 percent sell-through rate
Average sale price: $32,109

Overall Top 10 Sales:

  1. 2014 Shelby Cobra 50th Anniversary Roadster Sold For $111,100
  2. 1956 Chevrolet 210 Sedan Sold For $107,800
  3. 1949 Dodge 2 1/2 Ton Truck Flatbed Sold For $96,800
  4. 1967 Chevrolet Corvette Coupe Sold For $90,200
  5. 1957 Chevrolet Bel Air Nomad Station Wagon Sold For $85,800
  6. 1966 Chevrolet Corvette Convertible Sold For $85,800
  7. 1957 Ford Thunderbird Convertible Sold For $85,250
  8. 1961 Chevrolet Corvette Convertible Sold For $82,500
  9. 1940 Mercury 09A Convertible Sold For $77,000
  10. 2003 Ferrari 456 MGTA Coupe 2+2 Sold For $73,150

Friday total: $4.6 million
110 of 186 lots sold: 65 percent sell-through rate
Average sale price: $40,898

Top 10 Friday sales:

  1. 2014 Shelby Cobra 50th Anniversary Roadster Sold For $111,100
  2. 1956 Chevrolet 210 Sedan Sold For $107,800
  3. 1949 Dodge 2 1/2 Ton Truck Flatbed Sold For $96,800
  4. 1967 Chevrolet Corvette Coupe Sold For $90,200
  5. 1957 Chevrolet Bel Air Nomad Station Wagon Sold For $85,800
  6. 1966 Chevrolet Corvette Convertible Sold For $85,800
  7. 1957 Ford Thunderbird Convertible Sold For $85,250
  8. 1940 Mercury 09A Convertible Sold For $77,000
  9. 2003 Ferrari 456 MGTA Coupe 2+2 Sold For $73,150
  10. 1970 Plymouth Cuda AAR Hardtop Coupe Sold For $71,500

2014 results through Friday
Total: $9.1 million
257 of 403 lots sold: 64 percent sell-through rate
Average sale price: $35,518

SILVER

Cumulative total through Friday: $1.5M
108 of 164 lots sold: 66 percent sell-through rate
Average sale price: $14,047

Overall Top 10 sales:

  1. 1932 Ford Roadster Sold For $56,160
  2. 1969 Chevrolet Camaro Z/28 Sport Coupe Sold For $4,600
  3. 1956 Chevrolet Bel Air Sport Coupe Sold For $44,280
  4. 1940 Mercury Convertible Sold For $40,500
  5. 1957 Austin-Healey 100-6 BN4 Roadster Sold For $38,340
  6. 1932 Chevrolet Coupe Sold For $35,100
  7. 1959 Cadillac DeVille Hardtop Coupe Sold For $34,560
  8. 1957 Chevrolet Bel Air Sport Coupe Sold For $34,020
  9. 1954 Ford Meteor Coupe Sold For $32,940
  10. 1966 Shelby Cobra Replica Roadster Sold For $32,400

Friday total: $1.4 million
94 of 136 lots sold: 69 percent sell-through rate
Average sale price: $15,099

Top 10 Friday sales:

  1. 1932 Ford Roadster Sold For $56,160
  2. 1969 Chevrolet Camaro Z/28 Sport Coupe Sold For $4,600
  3. 1956 Chevrolet Bel Air Sport Coupe Sold For $44,280
  4. 1940 Mercury Convertible Sold For $40,500
  5. 1957 Austin-Healey 100-6 BN4 Roadster Sold For $38,340
  6. 1932 Chevrolet Coupe Sold For $35,100
  7. 1959 Cadillac DeVille Hardtop Coupe Sold For $34,560
  8. 1957 Chevrolet Bel Air Sport Coupe Sold For $34,020
  9. 1954 Ford Meteor Coupe Sold For $32,940
  10. 1966 Shelby Cobra Replica Roadster Sold For $32,400

2014 results through Friday
Total: $1.1 million
72 of 140 lots sold: 51 percent sell-through rate
Average sale price: $15,334

 

2 thoughts on “Ferrari frenzy continues at Arizona auctions”

  1. Larry,
    how do you comment the fact, that at Bonhams only three of the ten offered Ferraris were sold? End of the hype? Coincidence?
    Peter

  2. It’s a game of what’s my car worth to you (the bidder) vs. what my car’s worth to me (the owner who sets the reserve price at which I’m willing to sell). With prices paid going up, so are owner’s expectations of what their cars are worth.

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