Ferrari frenzy: Prancing horses steal the show at Arizona auctions
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 had 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 concluded their sales Saturday while auction action continues through Sunday at Barrett-Jackson and at Russo and Steele. Bonhams held its one-day sale Thursday.