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RM Sotheby’s at Villa Erba 2015 – a guide

RM Sotheby’s at Villa Erba 2015 – a guide 18th May 2015

Forty finely selected (RM will hope) European classics, many of which are fit for the famous concours itself, will be offered for sale at the nearby Villa Erba on the Saturday evening of the weekend-long Concorso d’Eleganza event.
 
Fourteen are Ferraris, a measure of the marque’s enduring appeal, although as always we question the long-term investment potential of modern, ‘mass-produced’ cars such as the catalogue’s 2006 575 Superamerica, the (albeit rare, manual) 2007 599 GTB and 2015 458 Speciale A. Can any car really go from assembly line to collectors' car auction in a matter of weeks?

1952 Ferrari 212 Export Barchetta by Touring meets...
1952 Ferrari 212 Export Barchetta by Touring meets...
1950 Ferrari 195 Inter Berlinetta by Ghia
1950 Ferrari 195 Inter Berlinetta by Ghia

But looking at the blue-chip entries from Maranello, we’d say the joint-headlining 1952 212 Export (5.5m – 7m euros) represents an opportunity to buy an early Ferrari racing car that not only can do all the events and had a decent racing record in period, but is also a) attractive, with Touring Barchetta coachwork, b) acceptably powerful thanks to its 160bhp, 2,562 cc Tipo 212 V12 and c) still seemingly original. But is it actually exciting…? And as a model, the 166 is definitive, the 212 is not.

The 1950 195 Inter Berlinetta by Ghia, at 1.25m to 1.65m euros, carries early Ferrari bodywork of the ‘heavier’ style favoured by Vignale, Pininfarina and Ghia, though its competition credentials are also good and it’s another MM-eligible car with Ferrari Classiche certification (the 212 Export’s certification is ‘in the post’). Being hard-nosed (“and honest!” – SK) these early Ferrari coupés are ponderous beasts, usually dull as ditchwater to drive, admittedly with a Ferrari V12 but one unlikely to pull the skin off a panna cotta.

However, for those who yearn after the glamour of the Mille Miglia and are drawn by the allure of the yellow and black badge, there’s no denying that this is a keenly estimated entry.


From a price perspective, the 1961 250 GT SWB California Spider (pictured, above) tops the bill (as the Comp’ 250 GT SWB is ‘On Request’). While the open-headlamp stance of the SWB Berlinetta marks it out as one of the most aggressive designs ever built, the market demands – and will pay a considerable premium for – covered headlamp Cal’ Spiders.

A recent comparison would be Gooding’s 2014 Pebble Beach sale car that achieved $15.2m. With a hardtop but in not-so-attractive red, the latter’s price comfortably bests the Ferrari Classiche-restored and certified car offered by RM in Italy (based on its 11m to 13m euros estimate) by at least $1.5m.

Simon comments: "RM’s car was beaten in the Villa d’Este concorso two years ago by a SWB Berlinetta. It has also been restored in the wrong colours [originally an attractive Grigio Conchiglia with Pelle Blue, now Blu Scuro with Pelle Beige – why?] and has been on the market for the past four years. As nobody has taken the bait the auction is the last resort. Let’s pray it sells so we don’t get offered it again, and again, and again…”


The yellow 1961 250 GT SWB Competizione (pictured, above) might be a little bit too tricked-up for British historic racing for some; not in its original and more desirable grey metallic paintwork and without its original engine – but it does have a very quick comp-spec motor in it with another race-prepared unit as a spare. As such, it’s a temptation for a newbie who thinks it’s good value for a comp' SWB. Two years later, though, we reckon they’ll be fed up of everyone reminding them about its new body, wrong engine and modern hot rod stance, so you’ll see it in another RM auction…

Other Ferraris include the set of seen ‘em all before ‘investment-grade supercars’ (Enzo/F50/F40/288 GTO) and, by contrast, the 1963 250 GT Lusso, an original-looking car in unusual Pino Verde, competitively estimated at 1.8m to 2.2m euros: the only cool car in the catalogue.

Pine-fresh and interesting: Original Pino Verde Lusso
Pine-fresh and interesting: Original Pino Verde Lusso
Where's Casino Square? 1.05m-1.35m euros F50
Where's Casino Square? 1.05m-1.35m euros F50

Looking elsewhere, we like the idea of an ex-Brigitte Bardot 1959 Riva Florida - at a sensible ‘No Reserve’, as it’s a long way to tow it home again… (And thataway, we expect.) THE collectible Rivas, though, are the powerful Aristons, Tritones, Aquaramas and Super Aquaramas of the 50s and 60s, so much as we love BB, we’d say “wrong model with the right owner.”

The 1971 Miura is a late-model P400 S, so has the desirable ventilated discs and a beefed-up chassis. RM is hedging it bets on this one, with a broad, 900k to 1.4m euros estimate. Considering the original colour was an exciting and unusual Bronzo, the lazy decision to repaint it yellow at some point in its generally unrmarkable life shows it to be a car from the twilight world of Miura ownership, before today’s appreciation of originality. For this reason we doubt if it will make anything like top money. One by one these older restorations are coming to light and being seen for what they are.

Boring yellow Miura
Boring yellow Miura
Exciting green Stratos
Exciting green Stratos

Three Lancias are listed, a 1958 Aurelia B24S Convertible (270k to 320k euros, with hardtop and in a nice colour), a 1963 Flaminia Sport 3C 2.8 by Zagato (250k to 320k euros, ‘double-bubble’ roof, open headlamps but rounded tail) and a 1974 Stratos HF Stradale. The latter, estimated at 350k to 450k euros, was destined to be a rally car but finished as a road version: these cars’ histories are very difficult to verify. Of the trio, the Stratos is head-and-shoulders ahead in the excitement stakes and Flaminia Zagatos need covered headlamps to bring in top dollars.

There’s the only Fiat 8V cabriolet built by Vignale, a highly unusual 1967 BMW-Glas 3000 V8 Fastback by Frua and what is now becoming a rare visitor to the saleroom, a 1949 Alfa Romeo 6C 2500 SS Villa d’Este Coupé (pictured, below), probably bang on the money at 600k to 700k euros.


There are no interesting Astons or more modern Alfas, while ‘gold-standard’ cars include the 1958 Mercedes-Benz 300 SL Roadster at 850k to 1m euros, and a 1973 Porsche 911 Carrera 2.7 RS Sport Lightweight for 950k to 1.35m euros. As 2.7 RSs have not been selling so well recently, it will be interesting to see the final figure on this one. From the catalogue, we’d say that the latter’s restoration was incorrect in many details, and the addition of a front strut-brace and twin mirrors does not suggest the matching numbers car was used to deliver home-produced eggs and olive oil from the convent to the local market…

All that said, it’s a broad-ranging catalogue of cars to be offered in a most stylish venue. Expect to see the very first results of the Ville Erba auction from K500 on the evening of the sale.

All photos: RM Sotheby's

Ducktail piece: 950k-1.35m euros 1973 RS Lightweight
Ducktail piece: 950k-1.35m euros 1973 RS Lightweight