A 1964 Ferrari 250 LM was sold for an impressive $9,600,000 during an auction held in Arizona, Phoenix.
The historic mid-engined successor of the 250 GTO is driven by a dry sump 3.3lt 320hp V12 and depending on its axle ratio, it could top 178mph or 286km/h. In 1964.
Ferrari made some stunning machinery during the ‘60s and classic car auctions during the last decade prove this every time. From the Crown Jewel 250 GTO to the mesmerizing 250 GT California Spyder, Enzo Ferrari was not only building exotic cars for the rich enthusiasts of that time but also some of the most rewarding and safe havens for money ever to exist.
But the blue chip investment status this Ferrari possesses isn’t the only interesting story to be told. This particular 250LM (Chassis No. 5899) is the 9th of 32LMs ever produced and comes with a thoroughly detailed and rich background history.
During its lifetime, it participated in 5 years of hard but successful racing, one engine swap from a 330P, two major crashes during racing of which the latter eventually led the then owner to re-shell it with a Porsche 904’s fiberglass bodywork instead of repairing the original one. Apparently, this weird and perhaps sacrilegious modification was taken with weight in mind. The car after the surgery was about 200kg (~440 lbs) lighter.
Chassis No. 5899 remained at this transgender state from 1966 until 1977 when its first restoration process began, in order to bring it back to factory specs. The restoration also included its matching numbers engine fitted back in and the recreation of the original bodywork.
Back in 1997, it was restored again for the last time with no expense spared, and the end result came from the factory when this 250LM gained the official Classiche Certification, cementing its status among the purebred Ferraris of the 1960s.
There is no such thing as a dull moment in the classic car auctions.
By Michael Karkafiris
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