Join Date: Aug 2008
Location: South Africa
Ferrari Life Posts: 1,291
Ferrari 250 LM Sells for Record $14.3 Million
A 1964 Ferrari 250 LM, Chassis number 6107, has sold for a record $14.3 million (R144 million) at the RM Auctions and Sotheby's collaborative auction held on the 21st of November in New York. By comparison, the previous record auction price for a 250 LM was $6.9 million.
The beautiful yet purposeful lines of the 250 LM are truly unmistakable, and with its mid-mounted, 3.3-liter V-12 engine, the Ferrari 250 LM was a highly effective and successful competition car in period. The automobile on offer, chassis 6107, is a terrific example of the marque's first production-based mid/rear-engine model. The 24th of just 32 examples produced, it combines style with performance and has been associated with some of racing's biggest names.
Chassis 6107, which features a revered Pininfarina body design with coachwork by Scaglietti, was delivered new to future Monterey Historics founder Steven Earle in November 1964. Mr. Earle used the car about town over the next several years, accruing only a few thousand miles during his ownership. Chassis 6107 then enjoyed a brief stint in the hands of one of Mr. Earle's friends, Chris Cord, before being purchased in 1968 by Guillermo Ortega and Fausto Merello, two Ecuadorean privateers who competed under the banner of the Raceco Team. It was at this point that 6107 embarked on an extensive racing career, highlighted by its extraordinary performance at the 1968 24 Hours of Daytona, where it finished an amazing 8th overall and 1st in class. Among other racing pursuits, 6107 was campaigned at the 12 Hours of Sebring in 1969, and it returned to Daytona that same year, where Merello was joined by Edward Alvarez and legendary Ferrari driver Umberto Maglioli behind the wheel. Merello then took the 250 LM home to Ecuador, where he raced the car alongside Pascal Michelet, who purchased Ortega's, and later Merello's, stakes in the car, and who continued to campaign the car throughout Ecuador and Peru over the next several years.
In the early 1970s, chassis 6107 was sold to the UK, where it was ultimately returned to its original Rosso Cina paintwork, a deep shade of red, before being sold to a collector in Japan in 1983, where it spent the next 30 years. Recently emerging from long-term, private display, the impeccably documented 6107 comes to auction as one of the finest known 250 LM examples extant, and arguably, it is one of the most original examples with such an important racing record.