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Tough time for Prancing Horses at L’Astarossa Ferrari sale in Monaco

Words: Nathan Chadwick | Photography: Monaco Car Auctions

It’s been a weekend to forget for fans of the Scuderia, with a double DNF at the Canadian Grand Prix after being uncompetitive throughout. It was a similarly dismal weekend at the scene of the Ferrari Formula 1 team’s most recent success, a mere two weeks ago – Monaco.

Monaco Car Auctions’ Ferrari-themed L’Astarossa sale, held on June 8, brought together 64 lots, half of which were cars from the Enzo era, right up to the recent past. Hopes were initially high, after some above-estimate results for interesting Ferrari automobilia that acted as the amuse bouche for the cars. However, the main course struggled to find favour, with an ASA 1000 GT and Ferrari 208 selling for around €10,000 less than their pre-sale estimates, and a 328 GTB withdrawn ahead of the sale.

This would end up being the general theme of the auction, with 18 of the 30 cars for sale failing to sell, and the ones that did largely failing to hit their low estimate. Indeed, only two cars did: a 458 Speciale Aperta and a Testarossa Monospecchio. The sale that went over estimate by some margin was a Philippe Shangti print entitled Luxury Pollution Car, which sold for €290k against a €100k-€150k estimate; an ‘innovative’ use of a LaFerrari, it’s not an image for sensitive types, but is available to view via the link at the bottom of the page.

So, why did this sale struggle? Talking to a few Ferrari fanciers in the aftermath, the auction occurred while the eyes of the car-buying world were elsewhere, taking a breather after the Villa d’Este/Monaco Grand Prix weekend. One other point made was that the descriptions in the listings did not elaborate much about each individual machine’s ownership history, and that several cars weren’t original enough to justify the pre-sale estimates. Here are some of the themes from the sale.

The leading lot in the sale, this 2002 Enzo was estimated at between €4.2m and €4.5m, but it failed to sell. Still wearing original paint via its solitary owner, it had been recently serviced by Ferrari dealer Gohm, near Stuttgart. It had covered 7701km, and had Ferrari Classiche certification.

Other post-2000 Ferraris also struggled, aside from the aforementioned 2015 Ferrari 458 Speciale Aperta, which sold for €625k against a €625k-€725k estimate. The ex-John Elkann 2013 FF (est €280k-€400k) and 2010 599 GTO (est €800k-€850k) both failed to sell, while a 2002 575M sold for €90k against a €105k-€125k estimate.

The Enzo-era cars garnered a little more interest, although not by a great deal. The leading sale was the above 1969 365 GTC, one of six out of the 152 built to be finished in Blu Tourbillon over Pelle Beige. Referring back to the lack of information regarding the listings, the only references to past servicing and ownership history were a replaced ignition harness in 2016 and an oil change in 2013, despite the presence of a Marcel Massini report and Ferrari Classiche certification. Against an estimate of €650k-€800k, it sold for €540k.

The 29th 1965 275 GTS, sporting Concorso d’Eleganza Villa d’Este provenance, DK Engineering history and Ferrari Classiche certification, failed to sell against a €1.55m-€1.8m estimate, as did a 1964 330 GT 2+2 (est €255k-€310k) and a 1966 330 GTC (est €500k-€600k).

Much of the pre-sale hype had concerned the five Testarossa variants up for sale in the same auction: the pictured 1994 512 TR wearing unoriginal Viola Hong Kong (est €200k-€250k); a red 1995 512 M with rare carbonfibre seats (est €450k-€625k); an originally Bianco Ferrari now Giallo 1987 Testarossa (est €140k-€180k); a headlight-washer-equipped 1989 Testarossa (est €160k-€210k); and a 1985 Testarossa Monospecchio (est €150k-€185k). In the end, it was the latter alone that would find a home, because the others failed to sell. The Monospecchio’s successful bid was despite a lack of ownership history on the online listing, along with the need for an immediate belt service after the auction.

Other 1980s and ’90s cars included a 348 TS, 400i Automatica and 328 GTB, which again all failed to sell. Meanwhile, a 328 GTS went for €120k against a €135k-€180k estimate, a 208 GTB sold for €60k against a €75k-€110k estimate, an F355 Spider sold for €99k against a €115k-€140k estimate, and a 456M GT sold for €70k against a €60k-€85k estimate – the last of these carrying on a growth in interest in these hitherto-avoided 2+2 GTs.

This sale was notable for several oddities in the Ferrari world, including this 1974 365 GTC/4 Spider. One of four built by Claudio Zampolli – who would go on to build the Cizeta V16T with Giorgio Moroder – it was owned by Van Halen’s Michael Anthony. It was later sold to John Champion of Jacksonville, who restored the car via Autosport Designs. It was later owned by Maroon Five’s Adam Levine. However, it failed to find a buyer against an estimate of €320k-€420k.

There was a similar lack of appetite for a ‘normal’ example of the breed with its roof still on; a 1982 Azurro-hued example failed to sell against a €220k-€295k estimate.

Another oddity was this 348 Zagato Elaborazione, one of just ten built, and estimated at €350k-€400k. Other than the Zagato-identifying roof bumps, the Elaborazione foreshadowed the F355’s side vents, and referenced the 288 GTO with a rear flank air vent. The interior has been changed, too, with lashings of Alcantara, bucket seats and a roof-mounted audio system. It failed to find a new home but is still available on the L’Astarossa website.

For more information on the sale, head here.

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