A fabulous array of storied automobiles crossed the auction block at RM-Sotheby's New York "Driven by Disruption" sale on December 10, the last big sale of the year before the Scottsdale auctions in January begin 2016.
The star of the show was Fangio's Ferrari 290 MM which fetched US$28 million and became the third most expensive car ever sold, nudging out a 1967 Ferrari 275 GTB/4 S NART Spider which sold for $27,700,000 in August, 2013 during Monterey Car Week.
The star of the show was Fangio's Ferrari 290 MM which fetched US$28 million and became the third most expensive car ever sold, nudging out a 1967 Ferrari 275 GTB/4 S NART Spider which sold for $27,700,000 in August, 2013 during Monterey Car Week.
The world record of $38.115 million was never at risk. That mark was set in August, 2014 when a Ferrari 250 GTO sold at a Bonhams' auction during Monterey Car Week and bidding for the 290 MM never threatened to pass the $30 million mark, with an opening bid of $16 million, then to $18 million and $20 million in two million dollar increments, then another one million dollars to $21 million, then $500,000 increases to it's final hammer price of $25,500,000, with the car finally going to one of two telephone bidders who had been battling for the prize.
So Fangio, widely acknowledged as the greatest driver in history, is now directly connected to two of the three most expensive cars ever sold. That seems fitting, because statistically, Fangio is dominant by almost any measure of the sport.
Fangio began international racing at an age most drivers are retired, yet he still holds the highest winning percentage in Formula One, winning 24 of 52 Formula One races he started (46.15 percent), the highest percentage of pole positions (29 from 52 starts = 55.8 percent), the highest percentage of front row starts (48 of 52 / 92.3 percent) and he was the oldest F1 World Champion in history at 46 years, 41 days in 1957.
Michael Schumacher won seven world titles and 91 Grands Prix before he retired the first time at 37. He returned to the sport after three years and didn't win another race. Four-time F1 Champ Alain Prost retired at the age of 38. The records of other long-term, three-time title winners also suggest that driving performance begins a rapid decline at around 40 years of age. Jack Brabham won his last title at 40, Jackie Stewart (36), Niki Lauda (35), Nelson Piquet (35), Ayrton Senna (31) while Lewis Hamilton (30 and three titles) and Sebastian Vettel (28 and four) are still going round.
Juan Manuel Fangio drove all but seven of his 52 Formula One starts AFTER the age of 40 years. His five titles were won at 41, 43, 44, 45 and 46 years of age respectively. Most fittingly for a sport where fair play and good grace are now rare, Fangio was a thorough gentleman at all times and his record is unblemished by acts of poor sportsmanship.
In broad terms, the car at auction was the one Enzo promised to Fangio in order to win his signature on a Ferrari contract, a 3.5 liter V12 with 320 horsepower, light weight and balanced roadholding. Ferrari's ultimate goal was to put the best driver in the best car and win the 1956 World Sportscar Championship. It was one of several identical prototypes and it effectively won two titles for Ferrari in 1956 and 1957.
In addition to being driven by Fangio in the Mille Miglia during 1956, this car was also subsequently raced by the full Ferrari roster plus a few other notables as time went by; Phil Hill, Ken Wharton, Olivier Gendebien, the Marquis Alfonso de Portago, Wolfgang von Trips, Peter Collins, Masten Gregory, Eugenio Castelloti and Luigi Musso. That's quite some racing heritage, given that the car achieved its aim of winning the world championship for Ferrari too.
Fangio chose to drive this car without a co-driver in the Mille Miglia and he finished fourth, albeit well behind the identical Ferrari 290 MM of fellow Scuderia Ferrari driver Eugenio Castellotti. That's Fangio in this car at the start of his race.
Castellotti was in a class of his own on the day, finishing 12 minutes in front of the second-placed Ferrari 860 Monza of Peter Collins, 34 minutes ahead of the third-placed Ferrari 860 Monza of Luigi Musso, and 50 minutes ahead of fourth-placed Fangio in the auction car, giving Ferrari a famous 1-2-3-4 result in the Mille Miglia. Castellotti's race time was just 11 hours 37 minutes and ten seconds, meaning his 50 minute margin over Fangio was a substantial one under rainy and difficult conditions.
The record time for the famed thousand mile course was set the previous year (1955) by Stirling Moss (with celebrated co-driver, journalist and motorcycle racer, Denis Jenkinson) in the fabled Mercedes-Benz 300 SLR – 10 hours 7 minutes 48seconds. That's 100 mph average.
The car was also the principal focus of an extensive photo essay by LIFE magazine photographer Thomas McAvoy shortly thereafter, and at that time LIFE was one of the most influential magazines in the country. It was standard fare at upper middle class homes and in doctors and dentist surgeries across the land with a large and influential audience, so the car has a history of "cut through" recognition in the American marketplace.
Most remarkably for a works car with so much bleeding edge competition under its belt, this car has never been crashed. This means that it is one of those very rare beasts which have done all the big races without being repaired countless times, and it hence has a degree of originality and authenticity which is almost unparalleled.
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