1953 Ferrari 340/375 MM Pinin Farina Berlinetta ‘Competizione’ makes €9,856,000

It’s the annual  Concorso d’Eleganza Villa d’Este festival of supercars and classic cars this weekend, and poart of that is the RM Auctions sale at Vella Erba, on the banks of Lake Como, with a 1953 Ferrari 340/375 MM Pinin Farina Berlinetta ‘Competizione’ smashing the world auction record by fetching €9,865,000.

The 375 MM is one of three works cars entered in the 1953 24 Hours of Le Mans and has a good history including 24 Hour of Spa, the Carrera Panamericana, and winning the 12 Hours of Pescara, has been driven by World Champions Hawthorn, Ascari, and Farina and won numerous awards at many events including Pebble Beach, Goodwood Revival and the Louis Vuitton Classic.

But it wasn’t just the 375 MM that sold at a strong price, with other notable lots fetching good prices, such as a 1965 Ferrari 275 GTB, for €1,120,000,  a 1967 Lamborghini Miura P400 at €426,600, a 1962 Mercedes-Benz 300SL Roadster for €1,114,400 and a 1962 Ferrari 400 Superamerica SWB Coupé Aerodinamico for €2,184,000.

Rob Myers, RM boss, said:

In discussion with a long-time friend and London-based broker, he conceded that he is now advising clients to sell great, important automobiles at auction. He, like many within the market, has realised that it’s incredibly hard to know the correct selling figure of a car before it is offered to a truly worldwide clientele. The Ferrari 340/375 MM proves this to be true, having achieved an amazing price here at Villa Erba.

It’s a good pitch on the back of strong sales, but the truth is that many owners will still prefer to use the auction prices as a guide for private sales, rather than have their pride and joy rolling across the block.

You won’t find many 250 GTOs heading for an auction when a private deal will usually yield more, and keep prying eyes away from both buyer’s and seller’s wealth.

By Cars UK