Classic Ferraris have fetched pretty exotic sums in recent times and a 1964 Ferrari 250 LM by Scaglietti is expected to sell for more than €25m (R486m) on auction in France next month.
This racing rarity is one of only 32 examples built of the 250 LM and it was the last 12-cylinder Ferrari to win at the Le Mans 24 Hours. It is the only privateer-entered Ferrari to win the Le Mans overall, taking victory in the 1965 race in the hands of Masten Gregory and Jochen Rindt on behalf of the North American Racing Team. It was the only time a privateer-entered Ferrari took overall victory at Le Mans ahead of the Scuderia Ferrari Works cars. The 1-2-3 Ferrari finish marked the major milestone of six consecutive Ferrari victories at Le Mans.
Since the 1960 Formula One season when Ferrari adopted a mid/rear-engine design for its successful grand prix car, Maranello had been a proponent of this mid/rear engine placement. This evolution gained traction through the small-displacement Dino prototypes of the early 1960s before Ferrari fitted a Testa Rossa-specification V12 engine into the back of a prototype chassis, resulting in the legendary 250 P that won the 1963 Le Mans.
By mid-1963, Ferrari was in search of a replacement for the 250 GTO in sports car competition and Enzo Ferrari introduced a barely modified version of the 250 P chassis mounted with new alloy coachwork by Scaglietti, featuring a low roof with flying-buttress rear pillars.
After formally introducing the 250 LM at the 1963 Paris Salon, Ferrari struggled to receive homologation approval from the FIA, particularly when the proposed 3.0l engine was upgraded to a 3.3l single-overhead cam dry-sump version of the V12. Frustrated by the FIA’s refusal to co-operate, Enzo quickly lost interest in the 250 LM and allotted the minimal production run to privateers rather than any factory usage. In doing so, the 250 LM became the first rear-engine Ferrari sold to private customers, commencing a trend that lasts to this day.
Altogether the car competed in six 24-hour races, including three times at Le Mans and three times at the 24 Hours of Daytona.
The 250 LM is one of the most desirable Ferraris of all time with its successful competition pedigree, advanced engineering and sensuous design. Offered from the collection of the Indianapolis Motor Speedway Museum, it is a highly preserved and original example, retaining its matching-numbers engine and gearbox.
The RM Sotheby’s Paris auction takes place from February 4-5.
The most expensive classic Ferrari sold to date was a 1962 330 LM/250 GT which went for a staggering $51.7m (R963m) in at an RM Sotheby’s auction in New York in November 2023.
Le Mans-winning Ferrari 250 LM expected to fetch nearly R500m on auction
Image: Supplied
Classic Ferraris have fetched pretty exotic sums in recent times and a 1964 Ferrari 250 LM by Scaglietti is expected to sell for more than €25m (R486m) on auction in France next month.
This racing rarity is one of only 32 examples built of the 250 LM and it was the last 12-cylinder Ferrari to win at the Le Mans 24 Hours. It is the only privateer-entered Ferrari to win the Le Mans overall, taking victory in the 1965 race in the hands of Masten Gregory and Jochen Rindt on behalf of the North American Racing Team. It was the only time a privateer-entered Ferrari took overall victory at Le Mans ahead of the Scuderia Ferrari Works cars. The 1-2-3 Ferrari finish marked the major milestone of six consecutive Ferrari victories at Le Mans.
Since the 1960 Formula One season when Ferrari adopted a mid/rear-engine design for its successful grand prix car, Maranello had been a proponent of this mid/rear engine placement. This evolution gained traction through the small-displacement Dino prototypes of the early 1960s before Ferrari fitted a Testa Rossa-specification V12 engine into the back of a prototype chassis, resulting in the legendary 250 P that won the 1963 Le Mans.
By mid-1963, Ferrari was in search of a replacement for the 250 GTO in sports car competition and Enzo Ferrari introduced a barely modified version of the 250 P chassis mounted with new alloy coachwork by Scaglietti, featuring a low roof with flying-buttress rear pillars.
After formally introducing the 250 LM at the 1963 Paris Salon, Ferrari struggled to receive homologation approval from the FIA, particularly when the proposed 3.0l engine was upgraded to a 3.3l single-overhead cam dry-sump version of the V12. Frustrated by the FIA’s refusal to co-operate, Enzo quickly lost interest in the 250 LM and allotted the minimal production run to privateers rather than any factory usage. In doing so, the 250 LM became the first rear-engine Ferrari sold to private customers, commencing a trend that lasts to this day.
Altogether the car competed in six 24-hour races, including three times at Le Mans and three times at the 24 Hours of Daytona.
The 250 LM is one of the most desirable Ferraris of all time with its successful competition pedigree, advanced engineering and sensuous design. Offered from the collection of the Indianapolis Motor Speedway Museum, it is a highly preserved and original example, retaining its matching-numbers engine and gearbox.
The RM Sotheby’s Paris auction takes place from February 4-5.
The most expensive classic Ferrari sold to date was a 1962 330 LM/250 GT which went for a staggering $51.7m (R963m) in at an RM Sotheby’s auction in New York in November 2023.
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