Take for example, the case of film director Agostino “Dino” De Laurentiis’ Ferrari 250 GTE which was just expertly sold by Bonhams at its Monaco auction held just last month. This was at one time a beautiful automobile, resplendant in metallic silver paint over red leather, with a screaming 3.0-liter Ferrari V-12 up front and gleaming Borrani wire wheels on its suspension. The car has been sitting for decades, but appeared very complete and whole, which adds considerable to its value and appeal.
Bonhams sold the car for about $163,000, and it will take every penny of $100,000 to restore it properly and make it once again the beautiful automobile it deserves to be. When completed, it’ll probably be worth about that same $100,000, perhaps a little more, placing, for the moment, no value on its celbrity ownership. Hmmmm….unless I were the late director’s close relative, I’m not sure having his $100,000 car would be worth $263,000 to me.
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