Last Updated on 6/27/2005 by bidz
June 27 (Bloomberg) — Collectors may spend more than $45 million at an auction tomorrow of historic Ferraris, with the Formula One car in which Michael Schumacher won five races last year among those up for sale.
Sotheby’s Holdings Inc. is organizing the auction of Ferraris, Maseratis and racing memorabilia in Maranello, Italy.
… Of 34 cars on sale, Sotheby’s estimates that 16 will go for more than $1 million each. The most expensive may be a 1958 Ferrari 412S, once driven by racing stars Phil Hill and Ritchie Ginther, estimated to sell for as much as $12.3 million.”