A superb 1953 Ferrari 340/375 MM Pinin Farina Berlinetta 'Competizione' brought €9.9m ($12.8m) to RM Auctions' packed Lake Como sale over the weekend (May 25).
Staged during Italy's famed Concorso d'Eleganza Villa d'Este - a significant and celebratory international automobilia event - the auction drew massive crowds. The Berlinetta 'Competizione' led the sale, becoming the most valuable automobile sold at auction in the 2012-2013 season.
Further to this, the Berlinetta also broke the previous world record for the model at auction.
RM Auctions' Max Girado comments: "Over 25% of lots exceeded their presale estimates, with a number of model-specific records achieved."
Other notable Ferrari lots included €2.2m ($2.8m) for a 1962 Ferrari 400 Superamerica SWB coupe, €1m ($1.4m) for a 2004 Ferrari Enzo, €1.1m ($1.5m) for a 1965 Ferrari 275 GBT, and €918,400 ($1.2m) for a 2010 Ferrari 599XX.
On the nature of selling at auction, chairman and founder of RM Auctions, Rob Myers, comments: "In discussion with a long-time friend and London-based broker, he conceded that he is now advising clients to sell great, important cars at auction.
"He, like many within the market, has realised that it's incredibly hard to know the correct selling figure of a car before it's offered to a truly worldwide clientele."
Our sister company, PFC Auctions, is currently accepting bids on this remarkable, very limited edition Mini Cooper, which has been signed by the 2003 England Rugby World Cup winning team.
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