RM Sotheby's Pinnacle Portfolio sets $67m record

The Pinnacle Portfolio has sold for $67m at RM Sotheby's, becoming the world's most valuable single-owner car collection sold in a one day auction.

The collection sold at Monterey on August 13.

Ferrari 250 LM
The Ferrari 250 LM sold for a world record $17.6m

It beat the previous record, set at $53m for the Andrews Collection earlier this year, by 26.4%.

A 1964 Ferrari 250 LM provided the headline lot, selling for $17.6m - a new world record for the model.

The Classiche-certified lot is among the finest known specimens of a 250 LM.

It was the last Ferrari to achieve victory at the 24 Hours of Le Mans, in 1965, a factor that further increases its attractiveness to collectors, and it retains the majority of its original components.

The lot smashed the previous record of $14.3m by 16.7%.

Other record breaking lots included a 1998 McLaren F1 LM that made $13.8m.

The car is one of two specimens upgraded to LM spec, which removes the restrictions on engine intake that apply to track cars, while ensuring it remains road legal.

In short, it's one of the fastest F1s on the market.

Other records were set for a 2005 Ferrari Enzo - previously owned by the Pope - that made $6m, and a 1971 Lamborghini Miura P400 SV that made $2.4m.

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