Making the choice not to be a self-indulgent wiener has paid off for this classic Ferrari seller
The stylish, long-nosed V12 coupe in a rare and lovely black-on-black specification was the 28th of 330 examples ever built.
To many, the 275 is just another classic Ferrari, but for movie buffs, the car represents the difference between being a ‘self-indulgent weiner’ and a connoisseur.
As it transpired, the seller had owned the car for the past 20 years, which puts it exactly in line with an interesting pop-culture reference.
In the 2000 movie, Gone in Sixty Seconds, Nicholas Cage’s character poses as ‘Roger’ looking to buy a Ferrari. He’s on the lookout, not for a new 360 Modena, but the classic ’67 275, nicknamed ‘Nadine’.
In the scene, Roger stands next to a black Ferrari 550 Maranello and notes that the big V12 tourer was so common that a number were gathered at the local coffee shop, and to stand out in LA’s ‘scene’ he would need something more special.
Many would argue that the new 550 was a far better car, but the recent auction result shows that Roger did indeed know what he was talking about.
For some context, Gone in Sixty Seconds was released in 2000, when a new Ferrari 550 Maranello would have set you back US$213,300. While that is the current equivalent of A$306k, a 550 cost $486,900 when new in Australia.
At the time, a Ferrari 275 GTB sold at the Pebble Beach RM Sotheby auction for $204,995, which with the buyer’s premium, places it at a pretty aligned price point to the more modern V12 550.
If, as a buyer rather than a thief, Roger had opted for the Maranello, he’d be looking at being able to sell it for, or slightly more, than for what he paid for.
The 1967 Ferrari 275 GTB four-cam however, has seen a significant rise over the years, with 2013 seeing a step change increase of 104 per cent from a median of US$1.84m to US$3.75m for cars sold at auction.
Even if Roger had left the car to decay in a field, it would still be worth more than twice the amount of a perfect-condition Maranello. Give the 550 another decade or so though, and we may be having a different conversation.=
While the most recent price paid for the classic Ferrari 275 is good, it’s not a pinch on the record for the model, a staggering $10.2m (A$14.7m) paid for a stunning Chianti Red example in 2014.
While the selling owner, Australian F1 racer Vern Schuppan was of interest enough, the car’s value was entirely related to its original owner, Hollywood legend Steve McQueen.
Even Roger himself, Nicholas Cage, has been known to amplify the resale price of the odd Ferrari. A rare 2007 Ferrari 599 GTB with a manual transmission, purchased new by the actor, was sold in 2015 for US$599k (fittingly), about double what you would have paid for a car owned by just a regular Roger.
Proof again, that there's no better value booster than celebrity ownership.