Classic Auction Review

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14 top cars sell for 11.6m euros (£10m) at Milanese Palazzo where Roger Vadim/Jane Fonda 1966 Ferrari 275GTB achieves 2.26m euros (£1.94m)

RM Sotheby’s conducted its first ever Milan auction as a ‘Boutique Sale’ with the 19 classics grossing 11,635,000 euros (£10,006,100) at the Palazzo Serbelloni, where a new world record price was paid for 1988 Lamborghini LM002.
The 15 June auction, held ‘Live’ with ‘In-Person’ bidding, saw high levels of interest and activity across all 19 lots, with the 1966 Ferrari 275 GTB, 2000 Ferrari 550 GT1 and 1963 Ferrari 250 GT/L Berlinetta Scaglietti occupying the top three steps of the podium.
This was the first RM Sotheby’s sale in Europe to welcome clients back to a live auction environment, and the well-attended event was a stunning spectacle with the specially curated roster of cars displayed under the Italian blue sky and surrounded by some of Milan’s most historic buildings.
It was perhaps no surprise that the 1966 Ferrari 275 GTB, chassis 08641 (photographed by Paolo Carlini for RM Sotheby’s and whom we gratefully credit), which was bought new in 1966 by Roger Vadim and subsequently owned by his then wife, Jane Fonda, was the top seller on the day. Beautifully restored and presented in its original Azzuro with black leather interior, the Ferrari Classiche certificated Italian achieved 2,255,000 euros (£1,939,300).
A performance Ferrari from another era, the 2000 Ferrari 550 GT1, was the second highest price achieved on the day. One of 2 cars built by Italtecnica for Team Rafanelli for the 2001 FIA GT Championship, and originally driven by Naspetti and Schiattarella, and with a successful period racing career over two full seasons of GT racing, the car sold for an impressive 1,805,000 euros (£1,552,300).
Rounding out the top three sales was the much-admired 1963 Ferrari 250 GT/L Berlinetta, the 65th of a total of only 350 units built, and presented in its original shade of metallic silver grey and fitted with a black interior. With bnefit of matching numbers and Ferrari Classiche certification, it transacted for 1,478,750 euros (£1,271,725).
While the final car to bring over 1,000,000 euros (£860,000) in public in Northern Italy was the 1957 Mercedes-Benz 300 SL Roadster, a car with fantastic provenance and featuring a unique glass hardtop, which brought 1,051,250 (£904,075).
Other notable sales include the 1996 Alfa Romeo 155 V6 TI ITC, a formidable 155 DTM/ITC Works Touring Car from Alfa Corse. Piloted by Nicola Larini during the 1996 ITC Season, and offered in event-ready condition, this not so old factory racer car achieved 792,500 (£681,550).
The 2004 Koenigsegg CCR sold in Milan meanwhile was the first CCR revealed to the public at the 2004 Geneva International Motor Show, and achieved a final price of 798,125 (£686,388), exceeding its pre-sale estimate, as did the 1963 Ferrari 250 GTE 2+2 Series III, a fine restored example which brought an impressive 466,250 euros (£400,975).
Another stand-out result was the 1988 Lamborghini LM002. Lamborghini only made 328 of these Desert Stormers between 1986 and 1993, and the car offered was a desirable early production, carburettor-engined version. Smashing its pre-sale estimate, it sold for 393,125 euros (£388,088), a world record auction price for an LM002.
Augustin Sabatié-Garat, Head of Sales at RM Sotheby’s Europe, said: “We are really delighted with the results of our first ever Milan sale. Our intention was to bring a small boutique style auction to Milan, close to the hub of the Mille Miglia activity in the region, and offer a selection of very high-quality cars.”
“We have achieved our goal and have once again proven that demand for exceptional cars is very strong, and that the traditional live auction format taking place in an outstanding location, is still highly sought after by both buyers and sellers of high-end automobiles.”
The Top Ten in Milano were –
1.1966 Ferrari 275GTB 2,255,000 euros (£1,939,300)
2.2000 Ferrari 550GT1 1,805,000 (£1,552,300)
3.1963 Ferrari 250GT/L Berinetta Lusso 1,478,750 (£1,271,725)
4.1957 Mercedes-Benz 300 SL Roadster 1,051,250 (£904,075)
5.2004 Koenigsegg CCR 798,125 (£686,388)
6.1996 Alfa Romeo 155 V6 TI ITC 792,500 euros (£681,550)
7.1951 Alfa Romeo 6C 2500 SS Villa d’Este Coupe 640,625 euros (£550,938)
8.1931 Bugatti Type 46 ‘Superprofile’ Coupe 545,000 euros (£468,700)
9.1963 Ferrari 250GTE 2+2 S3 466,250 euros (£400,975)
10.1960 Aston Martin DB4 S2 455,000 euros (£391,300)
Whereas the 1980 Lancia Rally SE 037 Prototype 037-001 failed to attract a new owner-driver, running out of road with an insufficient 630,000 euros (£541,800) on the screen.
A 1973 Ferrari 365GTB/4 Daytona Berlinetta was also unsold at 490,000 euros (£421,400), whilst 340,000 euros (£292,400) was also insufficient for a 1973 Dino 246GTS. Whilst 240,000 euros (£206,400) did not buy the 1994 Alfa Romeo 155 TS BTCC number 90080 nor was 70,000 euros (£60,200) enough for the vendor of a 1959 Giulietta Spider.
Just 5 no sales therefore, but with 14 sold and therefore a 74% sale rate with an average of £71,472 spent per car bought. RH-E

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