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Preview: RM Auctions classic car sale, New York, 21 November

Published 09 October 2013

A 1964 250LM Berlinetta will be headlining RM Auctions' and Sotheby's new Art of the Automobile sale in upscale Manhattan on 21 November, the first major classic car auction to be held there for more than a decade.

The auction of a 250LM is big news. They're fantastically rare and expensive, and they almost never come up for sale at open auction, so expect the guide prices to undergo a full adjustment. RM expects the car will make in excess of $12 million under the hammer, but with the recent high prices for top flight racers, expect it to go for more. Will we be adding it to our top sellers Top 10?

The Ferrari 250LM on sale, chassis 6107, is described by RM as a 'terrific example of the marque’s first production-based mid/rear-engine model'. It was the 24th of 32 made, and features a Pininfarina body design with coachwork by Scaglietti. It was a big change over its spiritual predecessor, the 250GTO, and despite being not as pretty as its forebear, it's still a very beautiful racing car.

It was sold new to future Monterey Historics founder Steven Earle in November 1964. He used the car about town over the next several years, keeping down the miles during his ownership. He then sold it to Guillermo Ortega and Fausto Merello in 1968, two Ecuadorean privateers who competed under the banner of the Raceco Team. Only then did the car's competition history start, with an amazing eighth place at the 1968 Le Mans 24 Hours.

Since then, the car has been based in the UK and Japan, It is expected to fetch in excess of $12 million USD when it goes under the gavel in November.

Alain Squindo, Vice President, RM Auctions, said, '6107 represents the pinnacle of 1960s vintage Ferrari collecting, combining rarity, beautiful design and a legitimate racing pedigree. Only a select number of cars can claim both originality and important race history, and of this group, few rarely come up for public sale, elevating the significance of this upcoming auction.'