Ferrari Capital

MARANELLO, Italy—On May 18 some 40 rare Ferraris are hitting the block in RM Auctions’ second annual Ferrari Leggende e Passione auction, held in conjunction with Sotheby’s at the auto company’s headquarters, in Maranello, Italy. Among the lots are two of the most desirable cars of the late 1950s and early ’60s: a pair of 250 GT California Spyder convertibles, one formerly owned by the actor James Coburn. If you’ve seen the movie Ferris Bueller’s Day Off, you’ll recognize it (the thoroughly wrecked film version in red was, fortunately, a replica). Last August, during California’s Pebble Beach Week, a 1963 Ferrari coupe once owned by Coburn’s pal Steve McQueen sold for $2,310,000—roughly four times its expected value—and RM/Sotheby’s hopes Coburn’s black ’61 roadster will get a similar star-power boost. It carries a high estimate of €3.7 million ($5.7 million), versus the 1959 model’s €3 million ($4.7 million) valued price tag—a gap due not only to its Hollywood provenance but also to its shorter wheelbase.

"Ferrai Capital" originally appeared in the May 2008 issue of Art+Auction. For a complete list of articles from this issue available on ARTINFO, see Art+Auction's May 2008 Table of Contents.