Ferrari achieves $7.26m antique valuation
A sale of a Ferrari model may have been noted by those seeking antique valuations.
Those looking for antique valuations might be interested to learn that a 1959 Ferrari has sold for $7.26 million (£4.6 million).
The Concours d'Elegance event offered a chance for automotive enthusiasts to stake a claim for ownership of the model, as reported by the Wall Street Journal.
Prior to the bidding, the LWB California Spider was estimated to be worth between $6 million and $8 million.
According to the article's author Robert Frank, "the Ferrari record bodes well for the market for hyper-priced collectible cars".
It noted that previous years have seen Gooding sell a 1962 model from the Italian car brand for $5.11 million, which may underline the enduring appeal of high-profile automotive purchases.
Recently, the Telegraph reported details of a rare Bugatti Type 51 auction arranged via RM Auctions.
It noted that the motor was expected to fetch a sum of £2.9 million when it went under the hammer.
Posted by Keith Leicester