Ferrari 275 GTB/4 Berlinetta record set at $3m with Bonhams

A 1968 Ferrari 275 GTB/4 Berlinetta has sold for a record sum at Bonhams' auction in Paris.

Ferrari 275GTB/4 Berlinetta
The 275GTB/4 takes its name from its four overhead camshafts

Held on February 6 at the magnificent Grand Palais, the sale totalled $23m as the classic car market continues to see exciting bids after a stellar 2013. The Ferrari 275 GTB/4 Berlinetta made an impressive $3m, setting a new auction record for the model.

The 3.3-litre V12 Gran Turismo received a comprehensive restoration from one of the UK's top Ferrari specialists, Bob Houghton Ltd, and is considered to be the very best of its kind in the world today.

The Ferrari 275 GTB/4 was introduced in 1966 to replace the heralded 275 GTB series. It takes its name from its four overhead camshafts, in contrast to the two found on its predecessor.

The Bugatti was bought as a 21st birthday present for Jack Lemon Burton - a founding member of the Bugatti Owners' Club

Also starring was a thunderous Bugatti Type 35B from 1929 that sold for $2.2m. It was once owned by British Bugatti dealer and driver Jack Lemon Burton, and then Lady Mary Grosvenor, another renowned racing driver.

With classic Porsche models seeing an increase in value of 1.3% in January, the auction witnessed a narrow bodied 1989 Porsche 911 - boasting just one owner and less than 650km on the clock - cross the block at $422,000 against a high estimate of $125,000.

However, the biggest smiles of the sale came early on, when a Harley-Davidson owned by Pope Francis sold for $328,000 in aid of the charity Caritas Roma.

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