In 1954, Lancia introduced a sporting Pininfarina-designed Spider aimed at the American market. After a brief production run, Lancia replaced the Spider with a more developed convertible, complete with a more substantial soft top and roll-up windows. Between 1956 and 1958, only 521 B24 convertibles were built, of which approximately 160 were constructed on the desirable Fifth Series platform.
When new, these elegant open Aurelias commanded a price tag approaching $5,500, but for those who demanded quality, performance and style from their sports car, it was well worth it.
In 1961, with just over 35,000 original miles on the odometer, this Lancia blew a head gasket. Instead of repairing the 5-year-old sports car, the owner decided to store the convertible in his garage, where it remained virtually untouched for more than four decades. In 2005, the Lancia finally emerged from storage, and restoration of the car was begun. However, after three years, the project had not advanced beyond preliminary stages and, in 2008, it was sold to the current caretaker. During the next two years, the Lancia was treated to a complete restoration, performed to the highest standards of cosmetic and mechanical excellence. Renowned marque specialist Tony Nicosia performed a comprehensive mechanical restoration, Steve Beckman’s Metalworks addressed the paint and bodywork, and Angels Plating restored the chrome and trim pieces to their original brilliance.
The consignor, a gentleman well versed in high-quality Italian sports cars, completed the final assembly and ensured that all the details were properly addressed. After the bodywork was prepared to exacting standards, it was finished in an elegant metallic silver-gray that lends an appearance that is both striking and understated. The cockpit was carefully reupholstered in red leather, as it was originally done. It should also be noted that this exceptional B24S is accompanied by its original tool kit and jack, as well as a correct owner’s manual and top instructions. Even the original yellow and black California license plate “SNC 531” remains with the car after all these years.
SCM Analysis
Detailing
| Vehicle: | 1956 Lancia Aurelia B24 S convertible |
This car, Lot 132, sold for $561,000 including premium at the Gooding & Company Scottsdale sale on January 21, 2012.
The sale of this car was a world record at auction for the model. It astonished most onlookers and left many in the Italian car universe wondering what had happened. To put the sale of this car into context, let’s go to the fundamentals and look at the attributes of value that apply in this situation — and how they affected the remarkable-but-not-surprising outcome.
Key attributes applicable here are beauty, usefulness, historical importance, provenance, rarity and condition.
Pininfarina’s design for the open two-seater Lancia Aurelia, the B24, debuted in 1954 as the “Spider America,” and as its name implied, it was aimed squarely at the ravenous U.S. market for sports cars in the 1950s. As such, a prominent design feature was the dogleg wrap-around windshield, a very transatlantic touch.
The Spider America also was a Spartan, true roadster, with side curtains, no glovebox and no external handles for doors and trunk. The look of the Spider recalled that of Pininfarina’s 1953 Lancia D24 racer, which triumphed in the Mexico Panamericana road race and the Mille Miglia. The car also evoked the breathtakingly beautiful Maserati A6 GCS/53 Berlinetta.
The changes in style that came with the transformation from Spider to convertible in 1956 essentially retain the look of the original design, so the B24 convertible scores in our beauty category.
Heavier, more comfortable
In line with the developments in the Aurelia B20 coupe, which moved it from a lighter, performance-oriented stance to one of more comfort and refinement, the B24 convertible added taller doors with roll-up windows, a more upright windshield with vent windows, exterior door handles and a glovebox door in a more substantial dashboard now more similar to that of the B20 coupe.
The differences added about 300 pounds in curb weight, while the newer model lost some power, falling about 18 horsepower in output. Those changes certainly altered the character of the B24 convertible, but those who might think it morphed into a cushy, slow, wallowing boulevardier compared with the Spider are completely wrong.
In addition, a fairly interesting difference arises between the B24s manufactured in 1956 alongside the 5th Series B20 coupes and the later 1958 and 1959 B24s, built with the 6th Series B20 coupes. The earlier cars share with the Spider America a fuel tank behind the seats above the rear axle. The tank was moved into the trunk, just behind the axle, in the later cars. This does have a bit of an effect on handling, mainly the transition from full to empty tank, which is less keenly felt in the 1956 cars than in those built afterwards.
This gas tank move also minimizes the handling differential between the Spider America and the 5th Series convertible, but it does make folding the top of the early convertible more of a challenge and also reduces the bonus storage space behind the seats.
The larger clutch and brakes of the convertible, not to mention windows and a top that seal reasonably well, make it far more hospitable on a 1,000-mile rally than the Spider. Eligible for all the events that would welcome a Spider, our convertible ranks high in the useful category as well.
On the historical front, it’s generally true that the first and last years of a model are those most sought after. Our car sits in the middle, which might lessen its appeal, but see above for reasons why it might not lose as much as would be assumed.
Here, we’ll score it average in historical importance.
Always a yellow-plate car
Our car’s provenance is pretty impressive, as it is a California car from delivery that remained there its entire life, with two owners from new and still retaining its original license plates. The seller was also a well-known California Italian sports car family known for high-quality Ferraris. Full marks in the provenance department.
There were 521 B24 convertibles made, against 240 of the Spiders. However, there were only 160 of the 5th Series Convertibles, which arguably combine the best features of both types. So, in the rarity sweepstakes, this car can also move near the head of the line.
Finally, we come to condition. I have seen many Aurelia Spiders and convertibles, and had the opportunity to drive a number of them. The restoration done on this car was exceptional.
Especially impressive were the detail finishes that were as Lancia intended and no better. The body was prepped thoroughly, with excellent panel fit and gaps, finished with superbly applied paint. The chrome and bright trim showed no flaws and the interior was as-new.
In fact, the only issue I could find cosmetically was a three-inch stretch of beading trim on the dashboard over the tachometer that was slightly adrift. Returning to the paint, a lovely shade of “Grigio Metallizato,” a discussion arose with a very good friend of mine, a talented and knowledgeable Italian restorer who felt it was far too light to be correct. But I don’t mind the color at all. Winner of its class at Concorso Italiano in 2011, this car’s quality has been acknowledged.
Drives as well as it looks
It’s not often that I have the opportunity to drive a car that I profile in these pages, but I did spend some time in the driver’s seat of this car thanks to my duties as co-host with Publisher Martin of “What’s My Car Worth?” on Velocity TV. We shot this car for an upcoming episode, and the test drive fell to me. It’s here that I was really impressed. It quickly became clear that as much time had been spent underneath the shiny paint as above. It drove as well, if not better, than it looked and truly impressed as one of the best I have ever experienced. If a grade above an A could be given for condition, it would earn it here.
The differential in prices between the Spider, which as far back as 2007 was commanding up to $500k for the best examples, and the convertible has always seemed to be far wider than justifiable.
The gap has been slowly closing, and now with this sale of an extraordinary example squarely in Spider territory, it will further shrink. Make no mistake — this transaction is certainly an outlier and could not be, and should not be expected to be, reproduced with an ordinary car. But it is further proof, if any is needed, that in the current market the best sets its own level, regardless of what the comparables might say. A rare case of extremely well sold — and equally well bought.