SCM Analysis
Detailing
Vehicle: | 1951 Ferrari 340 America Berlinetta |
This car sold for $391,000, including buyer’s premium, at the Christie’s Pebble Beach sale, August 19, 2001.
This 340 has been on the market for some time. Last year, the Parisian owner had been asking for about $600k. On December 18, 2000, it was offered at the Poulain Le Fur auction in Paris, where it was supposedly bid to $445k without selling. Obviously, as time passed the owner faced reality and lowered his asking price until he reached an accurate market valuation.
Interestingly enough, the selling price at Christie’s was almost exactly mid-way between the $350k-$450k estimate.While very nicely restored, and looking very racy, $391k is all the money for a car that looks faster than it actually is. S/N 0148A is not a race car. It does have an even-numbered chassis, as do most of the early Ferrari race cars. But all Lampredi-engined V12s, as this one is, carry even chassis numbers, whether they were competition cars or boulevard cruisers. This is just another anomaly in the Ferrari chassis numbering sequence.
The Ghia body, regarded as visually-challenged by some, has been improved (or is that customized?) by having its heavy-looking bumpers removed, one-inch wider Borrani wheels fitted at the rear, a boy-racer quick-filler fuel cap added, lightweight competition seats installed and side and hood scoops added. Think 340 America modified to race in “The Fast and the Furious.”
The restoration of S/N 0148A was done to a visually stunning standard, although I could have done without the overly generous application of silver paint to its aluminum underhood mechanical components.
Thanks to its alloy body, even chassis number (even if not competition sourced) and its robust, torquey 340 engine, this car will provide its owner with more than adequate performance, decent comfort and entry into everything from the Mille Miglia to the Tour de France and Monterey Historics.
The previous owner paid about $400k for this car, unrestored. We can assume that the restoration cost another $200k, making the seller’s “investment” around $600k, coincidentally the same as the original asking price for the car. As the new owner paid just $400k but got a restored car instead of a project, this car should be considered well bought.—
—Michael Sheehan