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The 2016 Mecum, Russo and Steele Auctions in Monterey, California




Featured Car: 1966 Ford GT40 Mk I

Sold at: $4,840,000

S/N P/1028

Silver over black leather interior. 289-cubic-inch, OHV, 335-hp V-8. Five-speed manual transmission. On offer by Mecum, the odometer shows about 11,000 original miles. Four-year restoration reportedly completed in 2016. Borrani wire wheels. Excellent paint, very good brightwork. Well-trimmed interior. Underhood is fully detailed and in excellent restored shape.

The Story Behind the Sale
The GT40 was the car that, under Henry Ford II’s direction, Ford hoped to beat Ferrari, something it ultimately did quite famously at Le Mans for four years in a row. GT40s were assembled in the U.K. over a period of years by a number of small, specialist manufacturers, and the GT40 legend continues to resonate. It inspired the Ford GT in 2005 as well as the brand new Ford GT that won its class at this year’s 24 Hours of Le Mans, 50 years after the GT40’s first victory there.

This is a well-documented GT40 with a full history. Said to be the first road version delivered to North America, P/1028 was the only GT40 delivered from new with air-conditioning, leather trim, luggage boxes, undersealed chassis, and painted with a special finish. This was Ford North America’s promotional GT40, the press-fleet loaner, so we assume some interesting stories were added to its history along the way. Eventually P/1028 was painted blue by Kar Kraft and used as a Ford VIP car. In 1967 it went to its first owner, David Tallaksen, a racer who was a class winner at the 12 Hours of Sebring. In 1969 it was purchased by Steve Earle, the Monterey Historic races founder. The car then shifted to another California owner and in 1975 was bought by an enthusiast who kept it for almost 40 years. The subsequent owner commissioned a full restoration to the car’s present condition.

2003 Ferrari Enzo

2003 Ferrari Enzo

2003 Ferrari Enzo

Sold at $3,300,000

S/N ZFFCW56A330128800
Corsa Red over Nero leather interior. 6.0-liter, DOHC, 660-hp V-12. Six-speed automatic transmission. Indicated mileage 2,050. All cosmetics in excellent condition. A one-owner car sold new by Ferrari of San Francisco. Full Ferrari Classiche certification. Copies of the original window sticker and invoice as well as service records included.

The Enzo was, for quite some time, the ultimate road-going Ferrari. Special track-only FXX variants followed, but it wasn’t until the LaFerrari usurped it that the Enzo lost its Big Cheese title. A must-have if you are collecting all of the modern Ferrari supercars from the 288 GTO forward. Many of the 400 cars built were used frequently and used hard — the internet abounds with crash stories and photos. For a car with low miles and this kind of documentation, this is the price you can expect to pay.

1993 Jaguar XJ220

1993 Jaguar XJ220

1993 Jaguar XJ220

Sold at $435,000

S/N SAJJEAEX8AX220667
Monza Red over tan leather interior. 3.5-liter, twin-turbocharged, DOHC, 540-hp V-6. Five-speed manual transmission. Odometer indicates 817 kilometers. The paintwork on this 23-year old Jaguar (one of 271 built) is in excellent condition and appears to be original. The interior is in excellent condition, showing minimal, lightly visible wear.

A stunning example, the rich color definitely helps here as well. The XJ220 concept had a V-12 engine, but emissions regulations along with concerns about weight and size caused Jaguar to rethink its plans. The solution was to purchase rights to Austin Rover’s V64V six-cylinder engine as used in the MG Metro 6R4 Group B racer. Modifications to that mill by Tom Walkinshaw Racing made it suitable for a production car, but many buyers with pre-orders canceled them upon the switch. Today, the XJ220 has unquestionably found admiration among a new group of buyers. Expect the trend to continue.

1998 Ferrari 550 Maranello

1998 Ferrari 550 Maranello

Best Buy: 1998 Ferrari 550 Maranello

Sold at $115,500 

S/N ZFFZR49A2W0110686
Rosso Corsa over beige leather interior. 5.5-liter, DOHC, 485-hp V-12. Six-speed manual transmission. Very good paintwork and clean engine compartment. The interior shows very little wear and is in excellent condition.

Late-model Ferraris with manual transmissions have been extremely hot recently. We can argue the virtues of conventional versus paddle-shift transmissions until we’re blue in the face, but the truth is that once Ferrari began offering F1-style transmissions in its cars, buyers spec’d so few manual-equipped cars that Ferrari couldn’t make economic sense of offering a choice any longer. All 550s were only offered with manual gearboxes, but the succeeding 575M gave buyers an F1 option—and nearly 90 percent of them took it. That said, this 550 sold for well below its low estimate of $180,000. Call it a deal for now.

1955 Chevrolet Corvette Roadster

1955 Chevrolet Corvette Roadster

1955 Chevrolet Corvette Roadster

Sold at $134,750

S/N VE55S001176
Pennant Blue with tan canvas soft-top over light-beige leather interior. 265-cubic-inch, OHV, 195-hp V-8. Two-speed Powerglide automatic transmission. The paint is in very good condition, the brightwork is excellent. The interior shows virtually no wear. This first-year V-8 is in very good condition overall.

Chevrolet built 700 Corvettes in 1955 and only seven had GM’s Blue Flame straight-six. A V-8 engine was what the market had waited for, as evidenced by the excess dealer inventory of six-cylinder 1954 cars at the time. With the V-8 option, it started at $3,069, the majority of cars with them (325) were Polo white, just 45 were Pennant Blue, and the balance were red, gold, and copper, though these numbers are more guesstimate than fact. Chevy did not keep records on colors for early ’Vettes. Undoubtedly the seller wanted more, but this price is right.

1976 Lamborghini Silhouette Prototype

1976 Lamborghini Silhouette Prototype

1976 Lamborghini Silhouette Prototype

Sold at $143,000

S/N URRAC0P11840002
White over white and black leather interior. 3.0-liter, DOHC 250-hp V-8. Five-speed manual transmission. Good paint, very good chrome. The white leather seats are in good condition, with a little wear to the seat bolsters. The “mouse fur” dash has faded and will need some attention. Underhood is clean but not show detailed. Period-correct Blaupunkt AM/FM cassette. Said to be one of two Silhouette prototypes built on a P300 Urraco chassis.

Sold at no reserve, this was not a show car but rather a good driver-quality example. This was the small Lamborghini of its day, with a mid-mounted V-8, not a V-12. It’s also one of the more rare production models; it was the first Lambo with a Targa-style roof and the factory built fewer than 60, including prototypes. Interest in classic Lamborghinis is picking up, and values have largely increased with the broader market.

1965 Chevrolet Corvair Spyder Corsa

1965 Chevrolet Corvair Spyder Corsa

1965 Chevrolet Corvair Spyder Corsa

Sold at $33,000

S/N 107675L110381
Black with black soft-top over red vinyl. 164-cubic-inch, turbocharged, OHV, 180-hp flat-six. Four-speed manual transmission. Excellent paint, excellent brightwork and trim. Excellent workmanship throughout, including under the hood. This one is a superstar among turbocharged Corsas. The black and red color combination is allegedly original as is the desirable four-speed transmission.

Right at the top of the Corvair pecking order; if you could step into a time machine and were told to order the best one then and the best one now, this is it. The Corsa model was built for just two years, 1965 and 1966, and many would say this is the pinnacle of engineering for the Corvair. This is big money for a Corvair, but in this case, it’s worth every penny. Ralph Nader may not have cared for the Corvair, but Automobile founder David E. Davis Jr. was a fan.

1948 MG TC

1948 MG TC

1948 MG TC

Sold at $35,200

S/N TC6808
Cream with tan cloth top over medium-green leather. 1.3-liter, OHV, 55-hp I-4. Four-speed manual transmission. Very good paint, with some age showing. The cloth top is clean. The seats show a bit of age as well, but let it slide as patina. Underhood is cleaned and polished. Factory tool kit included.

The TC, produced from 1945 to 1949, was a car a number of Americans fell in love with while stationed in Europe and the U.K. Hundreds, perhaps thousands, brought them home. These were also exported officially to the U.S., though all were built in right-hand-drive configuration. You could argue this is one of the “prototypes” of postwar sports cars. With readily available parts and spares and affordable cost of entry as well as costs to run, the TC and later TD and TF MGs will likely remain popular for a long time to come.

1961 Alfa Romeo Giulietta Sprint Speciale

1961 Alfa Romeo Giulietta Sprint Speciale

1961 Alfa Romeo Giulietta Sprint Speciale

Sold at $115,500

S/N AR1012000320
Red over white and red leather interior. 1.3-liter, DOHC, 100-hp I-4. Four-speed manual transmission. Reportedly restored in 2007 and driven sparingly since, which appears to be accurate. The paintwork is in very good condition, the brightwork and trim are in excellent condition. The engine bay is fully detailed. The interior looks better than new.

Purportedly boasting just 150 shakedown miles since restoration, this car generally looks the part. The restoration was done by Guatemalan automobile collector Mario Sueiras after purchasing the car in the Netherlands. Having sold for below the auction estimate of $140,000 to $180,000, this one is a bargain because of its excellent condition. To duplicate this restoration today would cost easily more than $100,000 and, depending on your skills and luck at sourcing parts, it could be double that amount.

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October 26, 2016