1967 Ferrari Sells For $27.5m – A World Record

1967 ferrari

The auctioneer opened the sale at $10 million (Dh36.7 million). The first bid pushed that to $16 million. The final gavel fell minutes later at $27.5 million for the ultra-rare 1967 Ferrari – a world record.

The cheers got louder as the price continued to rise Saturday night in downtown Monterey, California, where the Ferrari 275 GTB/4 N.A.R.T. Spider passed to new owners from the family that originally bought the car. The final price, which included commission, makes it the most expensive road car ever sold at auction.

The sale was a highlight amid a strong night of sales for RM Auctions, which handled the Ferrari sale, and rival Gooding & Co. In all, $149 million worth of cars sold Saturday night alone.

Throughout Monterey Classic Car Week, RM, Gooding and other auction companies including Bonhams, Russo & Steele and Mecum sold $244 million in rare sheet metal through Saturday, a 15 per cent increase over the same period last year. Gooding planned to host its second night of auctions Sunday night after the Pebble Beach Concours d’Elegance concluded.

The concours, considered the most prestigious in the world, ended Sunday afternoon with the best of show award going to a one-off 1934 Packard 1108 Twelve Dietrich Convertible Victoria.

After driving his car onto the stage littered with confetti, owner Joseph Cassini said he felt like lightning had struck twice — Cassini also won best of show at the 2004 Pebble Beach Concours.

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