Ferrari breaks another auction record

Historic 1953 Ferrari 340/375 MM Pininfarina Berlinetta ‘Competizione’ went for a record price of $12.75 million (€9,856,000) to become the most expensive car to fall under the hammer anywhere in the world over the last 12 months.

The two-seater sportscar, one of the most notable models in Ferrari’s racing history, was the star lot of the Villa Erba sale, held as part of the Concorso d’Eleganza Villa d’Este classic car event on the banks of Lake Como this weekend.

And as bidding hit fever pitch, over 1,000 people squeezed into the room to watch the hammer fall. The final price, which includes fees and bidder’s premium, is not only a new record for a hard-top ‘Berlinetta’ Ferrari, it is also the highest amount paid at auction for any car of any vintage during the 2012-2013 auction season.

And while the 340/375 MM was undoubtedly the star of the show, attracting bids from 30 different countries, it was merely one of 10 classic vehicles -- nine of which were also Ferraris -- to fetch more than $1 million. Other multimillion dollar lots included an immaculate 1962 Ferrari 400 Superamerica SWB Coupé Aerodinamico, which fetched $2.8 million (€2,184,000), a 1965 Ferrari 275 GTB, which went for $1.4 million (€1,120,000) and, making sure that Ferrari didn’t make a clean sweep, a stunning 1962 Mercedes-Benz 300SL Roadster, which also sold for $1.4 million (€1,114,400).