Forget the Wall Street plunge of over 1000 points on Monday; it’s auction week in Scottsdale, and the warm desert sun never felt better. Whether you flew in on Southwest Airlines or your own Gulfstream, there’s a buggy here whispering your name, but I’m here to investigate something a little more refined than a Chevy El Camino with a vinyl top. From the land of Michael Angelo, prosciutto, and the Pope, it’s time to review a few of the Italian supercars up for auction.
Sold at Bonhams for $445K inc. premium is this 1989 Lamborghini Countach “25-anniversary” edition with 10,662 kilometers. After the Miura, the Countach epitomized the Supercar phenomenon of the 1980s. Photo Courtesy Bonhams.
For years, many of these “pancake cars” were scoffed at because of their association to the 80s from which not everything has stood the test of time, especially build quality. Some have undeserved reputations of maintenance nightmares requiring “engine-out” servicing. And let’s not forget the need for a chiropractor on speed-dial. Recently though, a rising tide has prevailed, and I’m not talking about the flooded streets of Venice. The bad boy supercars that once adorned Alpine Stereo posters are now commanding “serious coin”, and it was time to seek out the answers why.
Sold for $340,000, this Ferrari Dino 246 GTS is just 1 of 313 GTS models built for 1974. With cassic Italian styling and ease of ownership, the Dino continues to appreciate. Photo © Mike Maez courtesy of Gooding & Company.
Graciously taking time out of his schedule to answer a few questions in front of the famed Arizona Biltmore was Gord Duff, Global Head of Auctions for RM Sotheby’s. “There are more young people with wealth than 20 years ago, so of course what is currently in fashion is a reflection of that. Supercars are a great example.”
A little research from Hagerty Insurance confirms that Gen X and Millennials combined now outweigh Baby Boomers in the collector car market.
At RM Sotheby’s, this 1971 Ferrari 365 GTS/4 Daytona Spider “encapsulates” the 1980’s Miami Vice culture and is a rarity at being only 1 of 121 built. Photo © Robin Adams courtesy of RM Sotheby’s
When asked about low mileage cars and special color combinations, Gord commented “Number matching cars will always bring a premium because they are simply a better investment, especially to the purist collector. A rare color combination though is a bit more dependent on personal taste. For those seeking exclusivity, it can add a level of rarity.” Witnessing a 900-mile 1995 Ferrari 355 sell for $224K the following day, I’d have to say Gord is right on the money; supercars are hot!
By: Rex McAfee
Title: Italian Supercars at Scottsdale Auctions 2022
Sourced From: sportscardigest.com/italian-supercars-at-scottsdale-auctions-2022/
Published Date: Sat, 29 Jan 2022 01:12:12 +0000