April 17, 2012
Car has travelled one lap – with Michael Schumacher at the wheel.
A Formula One racer driven by Michael Schumacher will be among three Ferraris that may sell for about $11 million as prices rise for the world’s most desirable sports cars.
Schumacher’s F1-2000, which is expected to fetch about 850,000 euros ($1 million), was raced in the Austrian Grand Prix in 2000, when it retired on the first lap following a collision.
It is one of three stand-out lots as Ferrari enthusiasts choose from 21 classic models - and one racing hydroplane - being offered in Monaco by RM Auctions on May 11-12.
The event is timed to coincide with the bi-annual Grand Prix de Monaco Historique.
Ferrari SpA remains the pre-eminent brand for both established collectors of classic autos and wealthy individuals looking to diversify their investments.
New buyers appreciate the security of a big carmaker that still exists, say dealers.
‘‘Ferrari trumps all other names in terms of prestige and liquidity,’’ Geneva-based auto adviser Simon Kidston said in an interview.
‘‘Collectors like to see the way this marque is traded regularly. If you have a good car that’s priced correctly, you can find a buyer within hours. Overall, the trend is upwards.’’
The lots span 60 years. The most highly estimated Ferrari is a 375 MM Spider dating from 1953 that was successfully raced in Argentina in the mid-1950s and more recently in the Mille Miglia Storica. It has an estimate of 3.3 million euros ($4.2 million) to 4.1 million euros.
A 1957 Ferrari 625 TRC Scaglietti Spider that was purchased new by the California-based racer John van Neumann is estimated at 3 million euros to 3.7 million euros.
Prices for classic Ferraris increased 4.82 percent in the first quarter of 2012, according to data compiled by the London- based Historic Automobile Group International (HAGI).
The unusually large entry of Ferraris in RM’s second biannual Monaco auction is partly a consequence of the Canadian-based company no longer holding sales at the Italian maker’s headquarters at Maranello - and owners’ willingness to offer cars in a rising market, say dealers.
A Ferrari GTO, one of 36 produced by the Italian company in 1962 to 1963, was bought this year in a private transaction in the U.K. for about $32 million, the second highest price ever paid for a classic car.