Ferrari 275 Spider sells at Pebble Beach for record $25 million

Ferrari 275 Spider sells at Pebble Beach for record $25 million

Last weekend’s Pebble Beach event not only saw several new models debuted, but also another monumental car auction record set, with a 1967 Ferrari 275 GTB/4 S NART Spider selling for a massive $25 million (£15.9 million).

The hotly anticipated RM Auctions sale saw many delightful vehicles going onto new owners, but none took the limelight more than the 275, and it wasn’t just the price taking the headlines but also the fact that every penny went to charity.

One of just 10 examples, the 275 has set the record for the most expensive vintage Ferrari ever sold at auction. The car was bought back in 1968 by Eddie Smith Sr., of North Carolina from original Ferrari importer Luigi Chinetti and had remained in the family ever since. However, following Smith’s passing in 2007, the 275 has been stored in private and rarely seen in public.

Pre-auction, the vehicle was estimated to sell for between $14 and $17 million, but bidding was highly active and the price soared. It is thought the buyer is Canadian fashion magnate Lawrence Stroll.

The car itself features a 300bhp V12 unit that is powered through a five-speed manual gearbox. The 275 was restored just the once and was originally painted Azzurro Metallizzato – a metallic blue.

There were three other notable Ferrari sales at Pebble Beach this year, including a 1971 365 GTB/4 Daytona used for the movie The Gumball Rally selling for $1.5 million, a 2002 Formula 1 car selling for just over $2 million and a 1957 250 GT 14-Louver Berlinetta selling for $8.6 million.

The most expensive car ever sold was also a Ferrari, a 1962 250 GTO that sold privately for $35 million (£22.3 million) in 2012.

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