1962 Ferrari Sells for $8m at Monterey Auction

By Paul Joseph

The final night of RM Sotheby’s prestigious annual Monterey auction in California concluded on Saturday evening and was led by a Ferrari 250 GT SWB Berlinetta, which achieved $8.14 million.

With coachwork by Scaglietti, it is one of only 40 steel body SWB Berlinettas built in the final production run during 1962, exhibiting the distinctive aesthetic distinctions of the late-production cars.

Modern Ferraris were also in high demand at the sale with the Ming Collection, an exceptional group of seven all-red, incredibly low-mileage Ferrari performance and supercars bringing strong prices across the group.

The Ming Collection was led by the sale of a rare 2006 Ferrari FXX in “time capsule” condition at a final $3.5 million to set a new world record for the model at auction.

The previous world record for the most valuable Ferrari FXX sold at auction was $3.15 million

RM Sotheby’s is the world's largest auction house for investment-quality automobiles. In February 2015, RM formed a strategic partnership with Sotheby’s, uniting the two companies for the full calendar of future automobile auctions.

By Paul Joseph