This car, Lot 117325, sold for $655,000, including buyer’s premium, on Bring a Trailer’s online auction on August 22, 2023.
There was a lot of second-guessing when Ferrari rolled out its new 365 GTB/4 Daytona at the 1968 Paris Salon. The Daytona would be Ferrari’s replacement for the popular front-engine 12-cylinder 275 GTB/4. At the time, many high-performance car manufacturers were debuting exotic mid-engine models while Ferrari was introducing an old-school front-engine model. It was a controversial move based on Enzo Ferrari’s reservations about the safety of a high-performance mid-engine car for the road. Over the next couple decades, it became clear it was the right decision, but not for the reasons Mr. Ferrari voiced.
Right car, right time
Ferrari clients are more conservative than other exotic-car buyers. They value a grand-touring experience over avant-garde styling and ultimate performance. They want to go fast, but they also want comfort and elegance. They want to sit down in a car, not crawl into one from just inches above the ground. They appreciate the sound of an engine, but at a level where they can still hold a conversation.
The Daytona was all of that. It updated the 275 GTB/4 with a larger interior, more power and standard features of electric windows, air conditioning and a radio. These features were wrapped in one of the most beautiful bodies of any Ferrari. The Daytona was an excellent touring car but also had an impressive racing career. One should be in every serious Ferrari collection.
After the Daytona, Ferrari experimented with the mid-engine Berlinetta Boxer and then the Testarossa series. As exciting as those models were, they were compromised as grand-touring cars. By the mid-1990s, Ferrari came to understand that its V8 models scratched the mid-engine sports-car itch, and it was time to revive the front-engine 12-cylinder line. The 550 Maranello was a hit straight out of the gate, and its successors continued to improve the grand-touring experience. We have come to see that Ferrari was right to build the Daytona; it was going the mid-engine route that was the mistake.
Ch-ch-ch-changes
It’s worth noting that 1968 marked the beginning of stringent U.S. DOT and EPA regulations. Covered headlights, knockoff wheel spinners and wood steering wheels were outlawed. Headrests, seat belts and side-marker lights were phased in. Soon, 5-mph bumpers, side door protection, third brake lights and other such equipment was required, along with air pumps, catalytic converters and emissions equipment.
The 365 GTB/4 was being designed as the new regulations were introduced. Meeting regulations was a work in progress, with the configuration of the Daytona evolving during production. Early European-market Daytonas, such as our subject car, were designed with a thin transparent plexiglass shield covering the headlights. They also had wood steering wheels, three-eared knockoffs and seats without headrests. The U.S. addressed these sins with pop-up lights, octagonal knockoff wheel nuts, tacked-on headrests and a leather-wrapped steering wheel. Today, unmolested early Euro-spec cars are valued within the Daytona market.
No BaT bump
Calling a car common when only 1,279 were built seems extreme, but in classic Ferrari terms, Daytonas are common. Hardly an auction weekend passes without one being offered for sale. Six Daytonas crossed the block at Monterey this past August, maybe a record for the week. Most have been restored at least once, but some exceptional low-mile examples (and some scruffy old examples) still pop up. Prices are fairly predictable, approximating SCM’s Pocket Price Guide range of $524,000–$701,000. There are outliers on both ends, but be suspicious of low prices, as restorations don’t come cheap.
As with most older Ferraris, 13231 has been around a bit. It was last seen for sale in early 2017 at Gooding & Company’s Scottsdale auction. Estimated at $850k–$950k, it was eventually a no-sale at a respectable high bid of $720k. BaT commenter “Fleche dOr” did a nice job of summarizing past Daytona activity on BaT. He noted there have been 18 auctions on BaT with a high sale of $755,000 and an average sale of $575,700. Eight sold, while 10 were no-sales.
Chassis 13231 had all the appearance of being a well-kept example. BaT buyers are attracted to unusual examples like moths to streetlights. The plexi-nose and wood steering wheel of 13231 are just the kind of features that make them dig deep in their pockets. The $655,000 result didn’t upset any of the averages, but was a bit disappointing. Every once in a while, a BaT auction goes off the rails, and this looked like it could be one. Instead, the result didn’t favor either side, with the buyer getting a good value and the seller getting the right money. No blood drawn here today. ♦
(Introductory description courtesy of Bring a Trailer.)
