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Saturday, August 15, 2015

This Car Collection Sold at Pebble Beach for Absurd $67 Million



Two months ago, we told you about a collection of cars that was set to cross the auction block at this year’s Pebble Beach Concours d’Elegance. At the time, people were predicting that the Pinnacle Portfolio collection would hit stratospheric numbers due to the 20+ ultra rare cars. Yesterday, this collection of cars crossed the block, and with that into the history books due to the cars total final sale price.
According to CNBC, the Pinnacle Portfolio collection went for a staggering $67 million. The Pinnacle Portfolio was comprised of:

 two Bugatti Veyrons, a Ferrari 250 GT California Spider, Ferrari 250 LM, Ferrari 275 GTB/4, Ferrari 288 GTO, Ferrari Daytona Spider, Ferrari Dino 246 GTS, Ferrari Enzo, Ferrari F40 LM, Ferrari F50, Jaguar XJ220, Koenigsegg CCXR, Lamborghini Miura, Lamborghini Reventon, Maserati MC12, McLaren F1 LM, Mercedes 300 SL Gullwing, Mercedes SLR McLaren, Porsche 356 A Speedster, Porsche 959, Saleen S7, and a Toyota 2000GT.


Each of these cars by themselves would be enviable and cause constant drooling for most enthusiasts. Nevertheless, to know that one collector had all of these amazing cars just sitting in their garage, or more likely their personal hangar, we would have loved to be a fly on the wall for that.
For the auction, the Pinnacle Portfolio was broken up into individual sales and each of those sales went to that staggering cumulative purchase price. The winner of the bunch was a 1964 Ferrari 250 LM, that went for $17.6 million. The second highest purchase price of $13.75 million went to the 1998 McLaren F1 LM road car, only two ever built and this sale represented the highest price ever paid for a McLaren.

Bugatti Veyron La Finale

One interesting piece of history within the collection was a Ferrari Enzo, specifically the last Ferrari Enzo ever built and one previously owned by Pope John Paul II (as a gift from Ferrari). Enzo’s have been appreciating rapidly lately, and this one with its history and provenance is no different. The car sold for $6.05 million. Along with the 250 LM and the Enzo, two other Ferrari’s went for big money—a 1994 Ferrari F40 LM and a 1967 Ferrari 275 GTB/4 sold for $3.3 million a piece.

This $67 million only represents a small fraction of the total amount of cars set to be sold during this weekend’s Pebble Beach Concours d’Elegance. RM Sotheby’s is expecting the total amount of money changing hands to reach over $400 million. And because of that expectation, we’re sure to see a few more records broken over the course of the next couple days, so stay tuned.