DEC 15th 2015

Fangio's Ferrari 290MM sells for £18,505,324

Fangio Ferrari 290MM

Back in October we reckoned that the ex-Fangio Ferrari 290MM was going to do rather well when it came to auction. There was speculation even that the ex-works machine would clear $30,000,000, which wasn’t far off the $28,050,000 its new owner had to pay in order to take it home.

Sebring 1970 Promo

Having made that handsome figure (which works out at £18,505,324) it now sits as the third most expensive car ever sold at auction, behind the ex-Fangio Mercedes-Benz W196 sold at the Festival of Speed in 2013 (£19,868,776) and the Ferrari 250GTO (£22,843,633) sold at Quail Lodge last year, both by Bonhams.

As ever we can only speculate as to where the market for desirable cars is going, but looking at the price for the W196 sold at FoS, might it suggest that, incredibly, there is still growth… at least at the sharp end of proceedings? Surely the W196 would sell for more than the 290MM today?

Then again, the W196 is a Mercedes-Benz and despite many enthusiast’s preference for the Stuttgart machines, it is Ferrari that always sends buyers into the most fevered of frenzies when a highly significant one comes up for sale at auction. Or at least, this is what the record books would suggest. 

Will next year bring another high-dollar candidate to auction? We’ll have a handle on that one when we learn what the big players like Bonhams and RM/Sotheby’s are bringing to sell at Pebble Beach and the Festival of Speed – the two venues most likely to see a challenger to that 250GTO as the priciest car ever to go under the hammer.   

Lead image courtesy of RM Sothebys

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