• Sports Car Market Magazine

    SCM is renowned for its unbiased coverage of the most prominent auctions around the world. Every issue of Sports Car Market is packed full of information you can't get anywhere else at any price. Find out the pro's secrets — what to look for and how much to pay for the classic of your dreams.

    Read More
  • Insider’s Guide to Concours d’Elegance

    The 2014 guide includes a calendar of events and detailed descriptions of 21 featured concours.

    Read More
  • Glovebox Notes

    SCM doesn't just cover collector cars. Every week, SCM reviews a brand new car online and in our newsletters, and there are new reviews every month in the magazine. Thinking of buying a new car? Check out our reviews!

    Read More
  • SCM Platinum

    Over 200 cars that sold at auction covered in every issue of SCM. Our market reports include detailed information about the vehicle, including VIN, condition, options, and expert analysis from SCM's auction reporters.

    SCM Platinum is the largest database of collector cars sold at auction. Over 150,000 vehicles, including over 59,000 with detailed write-ups from our auction reporters.

    Now optimized for your mobile devices!

    Read More

Recent Profiles

load more / hold SHIFT key to load all load all


Simply put, Ferrari tells their dealers: "This is your allocation, and that's all you will get"

A prototype of the new 250 GT Lusso appeared at the Paris Motor Show in October 1962. The strikingly elegant lines, blending into an aero-efficient Kamm tail, were reminiscent of not only the 250 GT SWB Berlinetta but also the 250 GTO. Notably, the Lusso was the last Ferrari model to be equipped with the legendary Gioacchino Colombo-designed 3.0-liter V12 engine. With three Weber carburetors, as opposed to the six used on the racing version, the unit used in the Lusso produced about 250 horsepower and was capable of propelling the car to a top speed of 150 mph and sprinting from rest to 60 mph in only eight seconds. Simply put, this new 250 GT combined gorgeous styling with a leather-trimmed interior and all the race-bred-12 performance that continues to symbolize Ferrari today.

The Lusso was manufactured from 1963 until 1964, a very short period, with merely 355 produced. Aside from a virtually endless list of positive press reviews in period and today, the Lusso attracted numerous well-known clients, including Steve McQueen; Harvey Postlethwaite, Ferrari’s former head of F1 design; and Battista “Pinin” Farina, who was apparently so pleased with the outcome of his company’s design that he had to have an example for his own personal use.

Finished in metallic gray with black leather interior, 5167GT was in Virginia during the 1970s and Connecticut during the 1980s. In 1987, it was acquired by the current owner and exported back to Italy. He has owned the car for a remarkable 25 years.

Shortly after its purchase, 5167GT was treated to a full, body-off restoration, and the car was finished in black with a cream leather interior. Ferrari specialists in Milan rebuilt the V12 engine, a specialist in Monza performed the bodywork, and the interior work was entrusted to Selleria Luppi of Modena. During the restoration, a brand-new set of Borrani wire wheels was fitted to the car. The owner intended to use the car at Ferrari Club events. However, due to a lack of time, the car was used only sparingly on weekends. Since the restoration was completed, the car has been driven only about 5,592 miles.

Recently, the owner decided to return 5167GT to its original exterior color of Grigio Metallizzato. It was given a bare-metal refinish, with all chrome re-plated. All of the suspension and brake components were recently rebuilt and restored. Approximately 800 man-hours were invested. Photographs of recent work are contained within the car’s history file.

It comes complete with copies of the original Ferrari build sheets and is confirmed to be a matching-numbers car. Offered from long-term single ownership of a quarter-century and having formed part of a small but high-quality collection, this is a tremendously attractive opportunity for Ferraristi.

{analysis}{auto}2907{/auto}This car, Lot 214, sold for $784,392, including buyer’s premium, at RM’s London Auction on October 26, 2011.

There was a time when vintage Ferraris weren’t the highly sought-after commodity that they are today. Contrary to the perception that all early Ferraris are virgins that have never been driven uphill or in the rain, many of today’s multimillion-dollar stars were once just clapped-out race cars or used-up street cars. Rotted-out bodies and severely smoking engines were once commonplace, and yes, some vintage Ferraris have actually been in accidents.

Not that many years ago, many older Ferraris needed more repairs than they were worth. Fortunately for the marque, early Ferrari enthusiasts, such as Dick Merritt on the East Coast and Ed Niles in California, saw value in old Ferraris. They tracked down Ferraris around the country and passed them to new owners — some who barely knew what they were buying, as they had never seen a Ferrari other than pictures in a magazine.

Merritt also tracked down missing engines, squirreled away parts, wrote books on the marque and helped found the Ferrari Club of America. Dick’s work, along with that of his friends, laid the foundation of today’s Ferrari hobby.

Deciphering restoration costs

RM’s write-up of 5167GT, like most auction descriptions, references the restorers of the car. Most of the early Ferraris have been refurbished — if not fully restored. A quality paint job today starts around $10,000. A Pebble-Beach-quality restoration of an old Ferrari can run into the hundreds of thousands of dollars. When looking at old Ferraris, the details of the restoration should never be overlooked.

Sellers love to brag about the time and money they spent on a restoration, but neither time nor money guarantees a good job. Overly long restorations are usually due to the customer’s inability to pay — or an inexperienced shop getting in over their head. Extremely expensive restorations are often the result of poor planning or the condition of the subject car. The location of the restoration is not a guarantee of quality. “Restored in Detroit” doesn’t make a Mustang any better than one restored in Portland, OR. Likewise, a Ferrari restored in Modena may not be any better than one restored in Brazil.

Proven restoration shops become brands. A Fran Roxas Duesenberg, a Gary Bobileff Miura or a Paul Russell anything says more about a restoration than any reference to time or money. Sellers tend to embellish the thoroughness of a restoration. Restoration shops do everything from accident repair to full restoration. Just because the shop made a car shiny doesn’t mean they made it run. You can’t repair a smoking engine by painting it. It’s a good idea to examine the restoration bills to see what was really done.

It’s interesting that the subject Lusso notes work done at three facilities — but names only one. Selleria Luppi of Modena has a long history of doing Ferrari interior work. You can be sure any work Luppi did is top quality. As for the other work, a close inspection is warranted.

A hot market for twelve cylinders

August 16, 2007, is a holy day for Lusso owners. That’s the day a chestnut brown 1963 Ferrari Lusso once belonging to Steve McQueen sold for $2,310,000 at Christie’s Monterey Jet Center auction. Optimism abounded among owners that their half-million-dollar Lusso would soon command that same kind of money. While a nod has to be given to the exceptional restoration of the McQueen Lusso, the lottery winnings came from the former owner’s celebrity rather than the car’s real value.

SCM’s Platinum Auction Database documents Lusso sales from a low of $632,000 to a high of $907,000 in 2011. RM estimated our subject Lusso at $635,000 to $765,000. The $775,150 sale price was just over the top estimate — but not out of line with today’s values.

Front-engine, 12-cylinder Ferraris are hot. There are few on the market, and those that are offered are priced just more than the last one sold for. The seller had no reason to complain about his sale, and the buyer should be pleased with a great car and a good investment.

Recent Blog Posts

  • Keith's Blog: Buy, Discover, Spend, Persevere +

    A couple of weeks ago, restorer Bill Gillham finished up fettling our Alfa Giulia Super and sent it over to Dan Sommers at Veloce Motors for a mechanical checkover. Here’s the note I just got from Dan: Keith, In my earlier note I talked about the list getting longer as Read More
  • Video of the Week: If Bonnie and Clyde Drove an M5... +

      Read More
  • This Week's Classic Mystery Photo +

    The monthly Mystery Photo has been an SCM tradition for 25 years. Each week, we’ll share one of our “greatest hits” photos from the past and give you a chance to provide a new witty and provocative caption. Each week’s winner will be announced in the Newsletter. Share your caption Read More
  • Video of the Week: This is How You Drive a Rental Car +

    Read More
  • This Week's Classic Mystery Photo +

      "Other than the half mile turning radius, the cornering is fantastic." — Richard Morrison   The monthly Mystery Photo has been an SCM tradition for 25 years. Each week, we’ll share one of our “greatest hits” photos from the past and give you a chance to provide a new Read More
  • 1
  • 2
  • 3
  • 4

Collector Car News

  • Cox Collection Joins Bonhams' May Auction Calendar +

    Bonhams will offer the Dr. Ralph W.E. Cox Jr. Collection at auction on May 10 in Cape May, New Jersey. The aviation pioneer’s intriguing collection includes such rarities as a San Francisco cable car, a Baldwin steam locomotive and a JB1 Buzz Bomb, in addition to fine antique automobiles, carriages, Read More
  • Motostalgia Offers 1955 Porsche 356 "Pre-A" Cabriolet Continental +

    A 1955 Porsche 356 "Pre-A" Cabriolet Continental (Motostalgia estimate: $365k–$405k) will cross the auction block on May 2 at Motostalgia's auction in Seabrook, TX. The car has matching serial numbers on its drivetrain and body panels, and it comes with original Certificate of Origin, Kardex, tool kit and owner's manual. Read Read More
  • HHI Motoring Festival Names 2014 Pinnacle & Honored Collectors +

    The 2014 Hilton Head Island Motoring Festival & Concours d’Elegance will include major international names in automotive collecting and racing when the event returns for its 13th annual celebration Oct. 24 – Nov. 2. Among those names are esteemed collectors Joseph and Margie Cassini and William and Christine Snyder, selected Read More
  • Italian Greats Swell the Ranks at RM Monaco +

    Recent highlights at RM's upcoming Monaco sale on May 10 include a 1956 Maserati 450S Prototype, a 1966 Ferrari 275 GTB/C, a 1959 Ferrari 250 GT Pinin Farina Cabriolet Series I, a 1967 Ferrari 330 GTS and a 2006 Ferrari 575 GTZ by Zagato. Staged during the Grand Prix de Monaco Historique weekend, Read More
  • Countdown to Barrett-Jackson Palm Beach +

    Barrett-Jackson's annual Palm Beach sale is just around the corner. The Florida auction takes place April 11-13. Among the featured early headliners are a 2005 Ford GT with 929 miles, a 1970 Plymouth Superbird with 440 Six Pack and a 1935 Packard Model 1207 convertible coupe. View all the current consignments here. Read More
  • 1
  • 2
  • 3
  • 4