Tuesday, October 4, 2022
News Another Ferrari Shatters Online Auction Records

Another Ferrari Shatters Online Auction Records

Ferrari 550 racer, Spa winner, fetches top bid over $4 million from Sotheby's Monterey

  • Sold for more than $1 million over previous record holder

  • A deal for multiple race-winning Ferrari 550?


It hasn’t taken long for the online car auction record to be shattered. And, frankly, we don’t expect that to stop anytime soon as the major auctions move to a presence that’s solely online thanks to the pandemic. For the fifth time in a row, though, it’s a Ferrari that’s taken the new best price. This time, a 550 GT1 racecar.

$4.29 million (CAD 5.65) when the digital gavel fell for this privateer Ferrari at RM Sotheby’s 2020 Monterey auction. More than a million over the 275 GTB that sold earlier the same week, as Hagerty reports.

What made this Ferrari so special? Apart from being based on the best looking car the company ever made, that is?

2001 Ferrari 550 GT1 Prodrive | Photo: RM Sotheby’s/Remi Dargegen

For a start, this car had a serious racing pedigree. While Ferrari corporate was focusing on Formula 1, customers like Prodrive turned the 550 into a GT racer themselves. Prodrive, maybe better known for their WRC efforts and heading the Aston Martin racing efforts in the WEC, punched out the V12 from 5.5 to 6.0L and replaced the gearbox with a sequential racing model. Among plenty of other changes to help it compete with the likes of the Corvette C5R.

This particular example won the 24 Hours of Spa, the jewel on a crown including 15 poles, 14 race wins, and 29 podium finishes. It was also the last V12 to win a 24-hour race overall, says Hagerty.

Ferraris now represent the top five online sales. But with more sales coming up with a digital auctioneer, we expect that to change. And for the totals to keep climbing. Will one take over the top auction spot overall? Maybe, if the owner of the right car is ready to take a chance.

 

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