Are you in pursuit of a Classic Ferrari? Two historical cars are about to go up for auction: John Lennon’s light blue 330 GT 2+2 (estimated to sell at auction for around $220,000) and the 340/375 MM Berlinetta “Competizione” Ferrari that was a competitor in the 1953 Le Mans race.
Lennon’s Ferrari was a purchase he made personally in 1965, the day after he passed the test for his driver’s license. Lennon also promptly purchased a Rolls Royce Phantom Limousine as well as a Mini.
The Ferrari was originally scheduled to be auctioned starting at 170,000 euros at Bonham’s of Paris in 2011, but was withdrawn just before the sale. It has since been scheduled to appear on July 12th of this year at the Bonham’s Goodwood Festival of Speed, with an increased price tag of 220,000 euros.
Putting this price tag to shame, the Le Mans racing Ferrari, which was driven by Mike Hawthorn and Nino Farina, is estimated to sell for around 5 million euros at an RM Auctions, Inc. sale in Italy later this year.
While you may not have the bank account large enough to purchase one of these two legendary Ferraris, well kept Ferraris are gaining value at rapid rates. Hagerty’s “Blue Chip” index shows the Ferrari has had a 24% increase in resale value in just under a year. An investment in these classics could end up to be the best purchase you’ve ever made.
Before you make your purchase, check out what Classic Auto Insurance can do you for you. We insure classic Ferraris with custom-made plans that will provide you with exactly the coverage you need, no more and no less. Get an instant, free quote today!
Sources:
http://www.bloomberg.com/news/2013-05-13/john-lennon-s-ferrari-chases-6-6-million-le-mans-racer.html
About the Author
Drew Yagodnik is Vice President of Classic Automobile Insurance Agency, Inc. Classic Automobile Insurance Agency has been protecting collector, classic and exotics since 1992.
