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Vintage Ferraris expected to shatter auction sales records as demand skyrockets

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A red two-seat Ferrari 250 GTO Berlinetta coupe that placed second at the 1962 Tour de France Automobile race is expected to command anywhere from $60 million to $75 million when it is auctioned off by Bonhams in Carmel, CA tomorrow as part of a 115 car, 6-day event spread out between Carmel, Monterey and the Pebble Beach golf course.

The vintage vehicle was purchased by Fabrizio Violati in 1965, and kept by the family (which made its money in agriculture and mineral water bottling and distribution) for 49-years. Violati, who died in 2010, was the fourth and last official owner of the Ferrari, according to Bonhams. Nine other Ferraris from Violati’s Maranello Rosso collection will also be featured during the sales.

Although a 1963 Ferrari 250 GTO racer sold for $52 million in a private deal last October, the most expensive car ever sold at auction so far was a 1954 Mercedes-Benz W196R Formula 1 racing car sold by Bonhams in 2013 for $29.7 million. However, Bonhams Chairman Robert Brooks is confident that the Violati Ferrari 250 GTO Berlinetta will shatter that record easily.

In the meantime, RM Auctions announced that it is offering three Ferraris, including a two-tone gray 1964 Ferrari 275 GTB/C Speciale, and a 1967 Ferrari 275 GTB/4 owned by the late actor Steve McQueen. While the McQueen car is valued somewhere between $8 million to $12 million, the opening bid for the Speciale is expected to be around $10 million. It is also expected that its final selling price will best the $27.5 paid for a 1967 Ferrari 275 NART Spyder last year. They noted that convertible’s price was “the most paid at auction for a car by the Italian manufacturer and the most for any car bought at a public sale in the US.”