Ferrari Auction Update

Schumacher’s Ferrari Sells for $3.3 Million at Italian Auction Europe

“June 29 (Bloomberg) — The Formula One race car that Michael Schumacher drove to victory in five Grands Prix last year fetched $3.3 million at an auction yesterday of historic Ferraris and Maseratis.”

Here’s an interesting caveat on the sale:
“To protect its industrial and technological secrets, the car will have to remain at Ferrari until January 2006.”

And the 1958 Ferrari 412S:
“once driven by racing stars Phil Hill and Ritchie Ginther and with an estimated value of as much as $12.3 million, failed to sell as the owner didn’t accept an $8.6 million offer. The record auction price for a car is the $10.7 million paid for a 1962 Ferrari 250 GTO at a Sotheby’s Monaco auction in 1990.”

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