Ferrari 250 LM Beats Auction Projections at $14.3 Million

A racy 1964 Ferrari 250 LM changed hands for $14.3 million at the ‘Art of the Automobile’ auction recently. The luxury event was a hosted by Sotheby’s and RM Auctions and marked the first such event to take place in Manhattan in over a decade. The sale is the most paid for the 250 LM model to date.

Ferrari 250 LM

The 1964 Ferrari 250 LM became the star of the Art of the Automobile auction jointly hosted by Sotheby’s and RM Auctions in Manhattan. The swanky event was the first auto auction in the city in many years. 

The most expensive Ferrari sale at auction to date remains the 1963 250 GTO that left jaws agape across the globe when it netted $52 million USD. To put this sum into better perspective, the entire Art of the Automobile auction made $62 million after selling all but 3 of 41 lots. Presale estimates for this luxury auto auction were set at $50 million. That said, $14 million for the 250 LM is nothing to scoff at, it is an extraordinary amount for a collector car.

Ferrari 250 LM

The Ferrari 250 LM is special because just 32 examples were created and Carrozzeria Scaglietti designed the model. The car sold was chassis #6107 and had been previously owned by an Ecuadorian auto racing pair and a few various collectors in the U.K, Japan and the U.S.

Ferrari 250 LM

Fun fact: The Ferrari 250 LM was the last Ferrari to win the Le Mans 24-Hour Race in 1965.

According to Rob Myers, CEO of RM Auctions: “It was an experiment. The results rank among the top four auctions we’ve ever had.” Something tells me these ‘experiments’ will now continue, cheers!

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