Dinos lead the way at Silverstone’s 2022 all-Ferrari auction
Compared with the same event held in conjunction with the Ferrari Owners’ Club of Great Britain last year, Silverstone Auctions’ 2022 marque sale beat 2021’s figures on almost every metric: the gross, percentage sold by number, low- and mid-estimate performance, average value of car sold.
Although at £678,500 all-in the 2017 F12tdf was the top-selling car, two Dino GTSs made the headlines.
A right-hand drive, UK market 1973 GTS in original-spec Blu Dino Metallizzato (est. £320k to £370k) made £372,700 with premium, while the LHD Nero ‘chairs and flairs’ North American car (pictured, top) achieved £506,250 gross against its £400k to £500k estimate. That’s around $470k and $630k respectively. Both carried Ferrari Classiche certification and the black car had come out of a £350k restoration by Italian specialist Cremonini – this sort of thing counts. The days of “I got a guy to rebuild the engine and my local shop did the body; I really saved some money” are long gone.
A RHD yellow 1973 Dino GT was bought well under low estimate for £258,750 gross. The sketchy history in the car’s description would not have helped its cause.
Elsewhere in the concise, 22-car catalogue, two 365 BBs were offered and one sold, for £202,500 with premium. The now-red 1974 car had been in the US for a while, but was a UK Ferrari when new, first delivered in attractive Blu Dino Metallizzato. The other RHD (but delivered to Singapore) 365 BB came out of long-term storage with non-matching engine and gearbox and no clue to its original colours catalogued.
It’s interesting to compare 2022 values for well-presented GTS Dinos with flagship-model 365 BBs delivered in the same year now requiring restoration. As marque specialist James Cottingham told K500 subscribers, the bigger, far more powerful car is more expensive to make ‘as new’ and costs more to maintain. Right now, there are no perfect 365 BBs coming to market, and the £300k-400k cost of restoration depresses values of project cars. Production of the 365 BB ran to just 387 examples; nearly 1,300 GTS Dinos were sold, mainly to North America.
The other significant non-seller was the white 308 GTB Vetroresina, probably just too expensive for only an average example estimated at £125k to £140k.
Silverstone Auctions at the Ferrari Owners’ Club of Great Britain, 4 June 2022 – results (2021)
Total gross cars: £2,889,823 (£2,277,624)
Number of cars not sold: 6 (11)
Number of cars withdrawn: 0 (2)
Total number of cars: 22 (25)
Number sold: 16 (14)
Percentage cars sold by number: 73% (56%)
Percentage by value average low/high estimate: 70% (49%)
Percentage of cars sold below low estimate: 63% (71%)
Percentage of cars sold not met avge of estimates: 81% (86%)
Percentage of cars sold met/exceeded top estimate: 6% (7%)
Average value of cars sold: £180,614 (£162,687)
Average year of cars offered: 1992 (1993)
Percentage of cars offered at No Reserve: 0% (0%)
Photo by Silverstone Auctions