There have been other relevant private sales as well. Record Bugatti, '62 Ferrari 250GTO, and Ferrari plus collection all reported sales in the $30M plus ranges. There have also been some anticipated sales that did not reach reserves including 1958 Ferrari 250 TR Pontoon Fender that reached a high bid of $10.7M. Having lived through the bubble of the late eighties, and knowing a good deal about the globe's precarious debt burden, I find it hard to believe that these prices will be sustainable. Then again, the gap between the haves versus the have nots also continues to widen, and maybe that group will always have the capacity to indulge ad infinitum. In the meantime, here's some eye-popping prices for some fabulous automotive art of yesteryear.
2010's Top Ten Cars Sold at Auction
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The industrialist hordes lifting placards to bid this year's vintage machinery were not victim to the paroxysms of 2009, when a 1957 Ferrari 250 Testa Rossa went for $12.2 million and a 1965 Shelby Daytona Cobra Coupe was swept away for $7.25 mil. None of the top ten trophies in this year's vintage bazaar provoked such financial spikes, yet the decline from first place to tenth was much more gradual: the sum of 2009's offerings was $51.22 million, while 2010 racked up $50.54 million.
That isn't to say the year lacked any monumental spasms: a 1957 Bugatti Type 57C Atlantic "changed hands," to use the clinical parlance of tycoons, for somewhere between $30 and $40 million. That, however, was a private treaty sale handled by Gooding & Company, not an auction result.
Ferrari made another top showing among the perp-walk of pageant winners, with prices spanning $7.26 million for a Ferrari to €2.8 million for a... Ferrari. But Jaguar, Aston Martin, Mercedes and Talbot Lago were also on the list of what ended up being a very beautiful party...
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