1960 Ferrari 250 GT “Nembo” Spyder

This 1960 Ferrari 250 GT Nembo Spyder sold for $895,000 at the Christie’s Monterey auction, held August 18, 2005.

The Nembo Spyder was my Bigfoot, my Yeti, my Loch Ness monster. I had heard about “the most beautiful Ferrari in the world” from my earliest days around Ferraris. I had seen pictures of it and knew I was within hours of it, but it took over twenty years of Ferrari swapping and show hopping before I finally met my myth.

There are three 250 Nembo Speciales: one coupe, S/N 1623 GT, and two Spyders, S/N 1777 GT and S/N 3771 GT. The Spyders are similar in styling but different in profile. S/N 1777 GT is based on a long-wheelbase 250 Pininfarina cabriolet chassis, and S/N 3771 GT is built on a short-wheelbase 250 GT SWB chassis. They are somewhat obscure vehicles that have a surprisingly well documented history.

While nearly universally recognized as important cars, the Nembos are controversial. Calling them coachbuilt is a bit of a stretch. They all started out as completed production cars and were rebodied only after some age and probable trauma. S/N 1777 GT, the first of the series, had gone through two owners and was four years old when it was rebodied. Neri & Bonacini was primarily a mechanical concern; they may have had a talented panel beater but they weren’t really coachbuilders. Despite their beauty and notoriety, the Nembos’ dubious pedigree would disqualify them from many top Ferrari concours. The water is further muddied by musical chairs with their engines. The coupe, S/N 1623 GT, has engine #1777 from Spyder S/N 1777 GT, and Spyder S/N 1777 GT has an engine transplanted from 250 GTE S/N 2271.

The finished Nembos were extremely attractive but impractical. Edwin Niles, the first U.S. owner of S/N 1777 GT, said, “The car suffered from some of those niggling problems that one-offs frequently fall victim to.” He noted the top was “ill fitting and hard to work,” and the seats were not very comfortable, but his major issue was the top corner of the windshield, which was swept back and pinched so much that it nearly poked the driver in the eye. Niles noted the problem was so serious that a couple of potential buyers backed out of buying the car after driving it.

But the Nembos have one feature that trumps their shortcomings: They are beautiful. The phrase “one of the most beautiful Ferraris in the world” usually accompanies any discussion of the Nembo series. They are so admired that there are actually two Nembo clones.

Beauty is a great equalizer when it comes to automobile values. Performance is important, rarity plays a part, but give me a beautiful car and I’ll show you a money maker. Like Pamela Anderson, the right curves made S/N 1777 GT a star. As a 250 Pininfarina cabriolet with the wrong engine and no competition history, it’s a safe bet we wouldn’t be talking about it here, but add an incredible body and it’s on the stage with the big boys.
The final bid of $895,000 was at the low end of the Christie’s estimate but several times more than it would have brought in its original configuration as a Series II PF cabriolet. The SCM Gold database records it was previously sold at a Christie’s U.K. sale in May 1984 for $280,618. It was a no-sale at $564,000 at Bonhams’ 2002 Geneva sale, with the auction reporter citing the raked windshield as a deal-killer.

I finally got to see the 250 GT “Nembo” Spyder a couple of years back. Walking through the pits at the Cavallino Classic, an unfamiliar shape caught my eye. It took a few moments to recognize the Nembo and a few minutes more to survey the car. Like an old girlfriend at a high-school reunion,
it didn’t quite measure up to my imagination, but I’ll have to agree, it’s one of the most beautiful Ferraris in the world.