© 2024 New Atlas
Automotive

The 16th $20-million-car in history could sell this week

By Mike Hanlon
July 04, 2023
The 16th $20-million-car in history could sell this week
Just 15 cars have ever sold for more than USD$20.0 million. We have links to all of the official auction pages further down the article. This image is for those who know their cars to see how many they can name without Googular assistance. Here's a hint: that's 2 x Mercedes-Benz, 2 x Aston Martin, 1 Jaguar, 1 McLaren, 1 Duesenberg and eight Ferraris. As for the auction houses, well, that runs out to two each for Gooding & Co and Bonhams, one to Artcurial and TEN for RM Sotheby's.
Just 15 cars have ever sold for more than USD$20.0 million. We have links to all of the official auction pages further down the article. This image is for those who know their cars to see how many they can name without Googular assistance. Here's a hint: that's 2 x Mercedes-Benz, 2 x Aston Martin, 1 Jaguar, 1 McLaren, 1 Duesenberg and eight Ferraris. As for the auction houses, well, that runs out to two each for Gooding & Co and Bonhams, one to Artcurial and TEN for RM Sotheby's.
View 21 Images
Just 15 cars have ever sold for more than USD$20.0 million. We have links to all of the official auction pages further down the article. This image is for those who know their cars to see how many they can name without Googular assistance. Here's a hint: that's 2 x Mercedes-Benz, 2 x Aston Martin, 1 Jaguar, 1 McLaren, 1 Duesenberg and eight Ferraris. As for the auction houses, well, that runs out to two each for Gooding & Co and Bonhams, one to Artcurial and TEN for RM Sotheby's.
1/21
Just 15 cars have ever sold for more than USD$20.0 million. We have links to all of the official auction pages further down the article. This image is for those who know their cars to see how many they can name without Googular assistance. Here's a hint: that's 2 x Mercedes-Benz, 2 x Aston Martin, 1 Jaguar, 1 McLaren, 1 Duesenberg and eight Ferraris. As for the auction houses, well, that runs out to two each for Gooding & Co and Bonhams, one to Artcurial and TEN for RM Sotheby's.
Only four of the 32 Ferrari 250 LM units built have sold at auction in the last decade, and they represent the four highest prices ever paid for Ferrari's first mid-engined sports car. From top left going clockwise, the cars fetched $11,550,000 in 2014, $9,625,000 in 2015, $17,600,000 in 2015 and $14,300,000 in 2013.
2/21
Only four of the 32 Ferrari 250 LM units built have sold at auction in the last decade, and they represent the four highest prices ever paid for Ferrari's first mid-engined sports car. From top left going clockwise, the cars fetched $11,550,000 in 2014, $9,625,000 in 2015, $17,600,000 in 2015 and $14,300,000 in 2013.
The 1964 Ferrari 250 LM that won the 1965 24 Hours of Le Mans has worn Luigi Chinetti’s North American Racing Team (N.A.R.T.) badge for nearly 60 years, taking the chequered flag at Le Mans on 20 June 1965, and being the star of the 1966 New York International Auto Show in April 1966. Now owned by the Indianapolis Motor Speedway Museum, the LM sometimes gets rolled out at the most prestigious events, and as often as not, wins once more. Such was the case earlier this year when it deservingly won The Best in Show Concours de Sport at The 2023 Amelia Concours d’Elegance. For those who don't recognise it, the car at right took out the Best in Show 2023 Concours d’Elegance Trophy. It's the1935 Voisin C25 Aerodyne owned by by Merle and Peter Mullin of Oxnard, California, and that's the car that will be in the final eight of the Peninsula Classics Best of the Best Award.
3/21
The 1964 Ferrari 250 LM that won the 1965 24 Hours of Le Mans has worn Luigi Chinetti’s North American Racing Team (N.A.R.T.) badge for nearly 60 years, taking the chequered flag at Le Mans on 20 June 1965, and being the star of the 1966 New York International Auto Show in April 1966. Now owned by the Indianapolis Motor Speedway Museum, the LM sometimes gets rolled out at the most prestigious events, and as often as not, wins once more. Such was the case earlier this year when it deservingly won The Best in Show Concours de Sport at The 2023 Amelia Concours d’Elegance. For those who don't recognise it, the car at right took out the Best in Show 2023 Concours d’Elegance Trophy. It's the1935 Voisin C25 Aerodyne owned by by Merle and Peter Mullin of Oxnard, California, and that's the car that will be in the final eight of the Peninsula Classics Best of the Best Award.
4/21
Images Copyright Alex Penfold / courtesy of Artcurial
5/21
Images Copyright Alex Penfold / courtesy of Artcurial
Images Copyright Alex Penfold / courtesy of Artcurial
6/21
Images Copyright Alex Penfold / courtesy of Artcurial
Images Copyright Alex Penfold / courtesy of Artcurial
7/21
Images Copyright Alex Penfold / courtesy of Artcurial
Images Copyright Alex Penfold / courtesy of Artcurial
8/21
Images Copyright Alex Penfold / courtesy of Artcurial
Images Copyright Alex Penfold / courtesy of Artcurial
9/21
Images Copyright Alex Penfold / courtesy of Artcurial
Images Copyright Alex Penfold / courtesy of Artcurial
10/21
Images Copyright Alex Penfold / courtesy of Artcurial
Though #5901 has done a tad of historic racing over the years, it was never subject to the brutality of 24 hour racing in period, and hence retains all its original metal. Ferrari authority Barchetta has images of this car undergoing a rotisserie restoration.
11/21
Though #5901 has done a tad of historic racing over the years, it was never subject to the brutality of 24 hour racing in period, and hence retains all its original metal. Ferrari authority Barchetta has images of this car undergoing a rotisserie restoration.
When this Ferrari 250 LM went to auction on 5 February 2023, Artcurial received a bid of EUR €20.0 million, which with buyers premium added is €25.0 million and that translates to USD $26,977,500. That bid was below the reserve price of the vendor and the lot was passed in, though we expect that if that €20.0 million bid is repeated later this week, the car will sell.
12/21
When this Ferrari 250 LM went to auction on 5 February 2023, Artcurial received a bid of EUR €20.0 million, which with buyers premium added is €25.0 million and that translates to USD $26,977,500. That bid was below the reserve price of the vendor and the lot was passed in, though we expect that if that €20.0 million bid is repeated later this week, the car will sell.
When this Ferrari 250 LM went to auction on 5 February 2023, Artcurial received a bid of EUR €20.0 million, which with buyers premium added is €25.0 million and that translates to USD $26,977,500. That bid was below the reserve price of the vendor and the lot was passed in, though we expect that if that €20.0 million bid is repeated later this week, the car will sell.
13/21
When this Ferrari 250 LM went to auction on 5 February 2023, Artcurial received a bid of EUR €20.0 million, which with buyers premium added is €25.0 million and that translates to USD $26,977,500. That bid was below the reserve price of the vendor and the lot was passed in, though we expect that if that €20.0 million bid is repeated later this week, the car will sell.
When this Ferrari 250 LM went to auction on 5 February 2023, Artcurial received a bid of EUR €20.0 million, which with buyers premium added is €25.0 million and that translates to USD $26,977,500. That bid was below the reserve price of the vendor and the lot was passed in, though we expect that if that €20.0 million bid is repeated later this week, the car will sell.
14/21
When this Ferrari 250 LM went to auction on 5 February 2023, Artcurial received a bid of EUR €20.0 million, which with buyers premium added is €25.0 million and that translates to USD $26,977,500. That bid was below the reserve price of the vendor and the lot was passed in, though we expect that if that €20.0 million bid is repeated later this week, the car will sell.
When this Ferrari 250 LM went to auction on 5 February 2023, Artcurial received a bid of EUR €20.0 million, which with buyers premium added is €25.0 million and that translates to USD $26,977,500. That bid was below the reserve price of the vendor and the lot was passed in, though we expect that if that €20.0 million bid is repeated later this week, the car will sell.
15/21
When this Ferrari 250 LM went to auction on 5 February 2023, Artcurial received a bid of EUR €20.0 million, which with buyers premium added is €25.0 million and that translates to USD $26,977,500. That bid was below the reserve price of the vendor and the lot was passed in, though we expect that if that €20.0 million bid is repeated later this week, the car will sell.
When this Ferrari 250 LM went to auction on 5 February 2023, Artcurial received a bid of EUR €20.0 million
16/21
When this Ferrari 250 LM went to auction on 5 February 2023, Artcurial received a bid of EUR €20.0 million
When this Ferrari 250 LM went to auction on 5 February 2023, Artcurial received a bid of EUR €20.0 million, which with buyers premium added is €25.0 million and that translates to USD $26,977,500. That bid was below the reserve price of the vendor and the lot was passed in, though we expect that if that €20.0 million bid is repeated later this week, the car will sell.
17/21
When this Ferrari 250 LM went to auction on 5 February 2023, Artcurial received a bid of EUR €20.0 million, which with buyers premium added is €25.0 million and that translates to USD $26,977,500. That bid was below the reserve price of the vendor and the lot was passed in, though we expect that if that €20.0 million bid is repeated later this week, the car will sell.
When this Ferrari 250 LM went to auction on 5 February 2023, Artcurial received a bid of EUR €20.0 million, which with buyers premium added is €25.0 million and that translates to USD $26,977,500. That bid was below the reserve price of the vendor and the lot was passed in, though we expect that if that €20.0 million bid is repeated later this week, the car will sell.
18/21
When this Ferrari 250 LM went to auction on 5 February 2023, Artcurial received a bid of EUR €20.0 million, which with buyers premium added is €25.0 million and that translates to USD $26,977,500. That bid was below the reserve price of the vendor and the lot was passed in, though we expect that if that €20.0 million bid is repeated later this week, the car will sell.
When this Ferrari 250 LM went to auction on 5 February 2023, Artcurial received a bid of EUR €20.0 million, which with buyers premium added is €25.0 million and that translates to USD $26,977,500. That bid was below the reserve price of the vendor and the lot was passed in, though we expect that if that €20.0 million bid is repeated later this week, the car will sell.
19/21
When this Ferrari 250 LM went to auction on 5 February 2023, Artcurial received a bid of EUR €20.0 million, which with buyers premium added is €25.0 million and that translates to USD $26,977,500. That bid was below the reserve price of the vendor and the lot was passed in, though we expect that if that €20.0 million bid is repeated later this week, the car will sell.
When this Ferrari 250 LM went to auction on 5 February 2023, Artcurial received a bid of EUR €20.0 million, which with buyers premium added is €25.0 million and that translates to USD $26,977,500. That bid was below the reserve price of the vendor and the lot was passed in, though we expect that if that €20.0 million bid is repeated later this week, the car will sell.
20/21
When this Ferrari 250 LM went to auction on 5 February 2023, Artcurial received a bid of EUR €20.0 million, which with buyers premium added is €25.0 million and that translates to USD $26,977,500. That bid was below the reserve price of the vendor and the lot was passed in, though we expect that if that €20.0 million bid is repeated later this week, the car will sell.
21/21
View gallery - 21 images

Cars that sell for more than $10 million are rare, but cars that sell for more than $20 million are very special indeed. There have only ever been 64 cars in history that have fetched more than USD $10 million at auction, and just 15 cars that have ever fetched more than $20 million ... and there might be another by the end of the week.

Even more curious is that the car that is likely to sell for more than USD $20.0 million went to auction in February at the official Retromobile Auction of Artcurial, where it received a bid of €20.0 million and the bid was deemed insufficient and the lot was passed in.

When this Ferrari 250 LM went to auction on 5 February 2023, Artcurial received a bid of EUR €20.0 million
When this Ferrari 250 LM went to auction on 5 February 2023, Artcurial received a bid of EUR €20.0 million

The car in question is a 1964 Ferrari 250 LM (Châssis n° 5901, Moteur n° 5901 in the Artcurial Catalogue), one of just 32 units made by Ferrari to replace the Ferrari 250 GTO as its primary sports racing car, but unlike all but one of the 32, this car never raced.

One of its sister cars (Chassis and motor 5893) won Le Mans in 1965, but this car became part of Luigi Chinetti's N.A.R.T (North American Racing Team) and it went to the Daytona 24 Hour Race in February 1966 all prepped and ready-to-rock as the spare car, but wasn't needed. When it got back to home base an offer was made and it sold without having had a wheel turn in anger.

Though #5901 has done a tad of historic racing over the years, it was never subject to the brutality of 24 hour racing in period, and hence retains all its original metal. Ferrari authority Barchetta has images of this car undergoing a rotisserie restoration.
Though #5901 has done a tad of historic racing over the years, it was never subject to the brutality of 24 hour racing in period, and hence retains all its original metal. Ferrari authority Barchetta has images of this car undergoing a rotisserie restoration.

Hence it has all original panels, original everything with matching numbers and it has never done the grandpa's-axe impersonation (six heads and five handles) that most race cars experience. It is completely original metal, which is several superlatives beyond rare, particularly for a car that has been to the summit and exists in such rare numbers.

It's also an explanation as to why the vendor decided to forgo the €20.0 million bid on 5 February and wait for the 100th anniversary of the 24 Hours of Le Mans, where it sat on display in the Artcurial Tent while history was made all around it. It didn't even feature a slot in the official June 30 Artcurial Le Mans Classic sale, preferring to go it alone as a single car auction to be held on 6 July 2023.

Just what happens on Thursday will be fascinating to watch, as that €20.0 million February bid with buyers premium added is €25.0 million and that translates to USD $26,977,500 - a price that would have made it the seventh highest price ever paid for a car at public auction.

There were only 32 examples of the Ferrari 250 LM constructed from 1963 to 1965, and 30 of them dominated the racetracks of the world for the next decade.

Only four of the 32 Ferrari 250 LM units built have sold at auction in the last decade, and they represent the four highest prices ever paid for Ferrari's first mid-engined sports car. From top left going clockwise, the cars fetched $11,550,000 in 2014, $9,625,000 in 2015, $17,600,000 in 2015 and $14,300,000 in 2013.
Only four of the 32 Ferrari 250 LM units built have sold at auction in the last decade, and they represent the four highest prices ever paid for Ferrari's first mid-engined sports car. From top left going clockwise, the cars fetched $11,550,000 in 2014, $9,625,000 in 2015, $17,600,000 in 2015 and $14,300,000 in 2013.

Much has been made about the collectibility of the Ferrari 250 GTO, which have attracted prices of US$38,115,000 in 2014 and US$48,405,000 in 2018, but those who have driven both a GTO and a 250 LM leave little doubt as to which is the better car.

British racing driver David Piper campaigned both in period and in a Classic & Sports Car article, he is quoted thus "I have lots of affection for LMs and still love driving mine. For me it's twice the car a GTO is and is still very underrated. It's more sophisticated, much quicker and the gearbox and steering are fabulous. On really fast circuits such as Daytona, Sebring, Le Mans and Reims, it was very quick in a straight line and would outperform many more powerful cars."

Finally, here are the cars and the links of the top 15 cars sold at auction in history: from the top by row, Mercedes-Benz 300 SLR Uhlenhaut Coupé ($143,653,500), 1962 Ferrari 250 GTO ($48,405,000), 1962-63 Ferrari 250 GTO ($38,115,000), 1957 Ferrari 335 Sport ($35,779,886), 1956 Ferrari 290 MM ($28,050,000), 1967 Ferrari 275 GTS/4 NART ($27,500,000), 1964 Ferrari 275 GTB/C Speciale ($26,400,000), 1954 Mercedes-Benz W196 ($25,613,280), 1956 Aston Martin DBR1 ($22,550,000), 1955 Ferrari 410 Sport Spider ($22,005,000), 1956 Ferrari 290 MM ($22,005,000), 1935 Duesenberg Model SSJ ($22,000,000), 1955 Jaguar D-Type ($21,780,000), 1963 Aston Martin DP215 ($21,455,000) and 1995 McLaren F1 ($20,465,000).

Editor's note: The decision to turn down that €20.0 million bid on the 1964 Ferrari 250 LM was ultimately a costly one, because with buyers premium added it would have been a €25.0 million (USD $26,977,500) bid and in the end, the Ferrari 250 LM sold at its second auction for EUR €15,771,200 (USD $16,867,298)

View gallery - 21 images

Tags

AutomotiveFerrariMcLarenArtcurialRM-SothebysGooding & CoBonhams
No comments
Mike Hanlon
Mike Hanlon
As a photojournalist, Mike’s work has been published in a dozen languages across 20+ countries. He has edited or managed over 75 different print publications, each with a different target audience: sports, automotive, advertising, marketing, design, ad infinitum. Mike has been working in the internet for more than 25 years and was the veteran of five internet start-ups before founding New Atlas in 2002.

Most Viewed

Load More
0 comments
There are no comments. Be the first!