Italian record for a classic Ferrari

A classic car gains value over time, even more so if it is a Ferrari. This was confirmed for the umpteenth time at an auction organised by RM at Villa Erba on Lake Como, where a splendid Ferrari 340/375 MM Berlinetta Competizione, with Pin Farina designed bodywork went for 9,856,000 Euros.

This car had an outstanding racing history, culminating in victory in the 1953 Pescara 12 Hours with Mike Hawthorn and Umberto Maglioli at the wheel. Among its other results, a stage win and sixth overall, again with Maglioli, this time partnered by Mario Ricci, and a victory on the Guadalupe circuit, again courtesy of the Italian driver. It was out of luck however in the two 24 Hour races it took part in, at Le Mans and Spa-Francorchamps, failing to get to the chequered flag in either of them.

The hammer price of the car is a record for collectors auctions in Italy, including those for works of art. Since 1993, only one other car, also a Ferrari, has gone for a higher price: a 250 TR took the bidding up to 16.9 million dollars at a Pebble Beach auction two years ago.