$11 Million: Highest Price Ever Paid For A Vintage Car
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May 20, 2008
A 1961 Ferrari California Spyder sold for $10,894,900 at an auction in Maranello, Italy.It was the highest price ever paid for a vintage car at auction, according to RM Auctions and Sotheby’s, the companies that organized the sale.
The previous record was set in 1990 when Sotheby’s sold a 1962 Ferrari 250 GTO in Monaco for $10,756,000.
But that was a race car, not a convertible designed for driving on the street, pointed out McKeel Hagerty, president of Hagerty Insurance, a company that insures high-value collectible cars in Europe and North America.
The high price paid for this car shows strong demand for vintage Ferraris in Europe, Hagerty said.
The record-breaking black convertible had been owned by gravel-voiced tough-guy actor James Coburn. He bought the car in 1964, according to RM Auctions,
shortly after completing “The Great Escape.” It is not clear when Coburn sold the car.
