Car Collection Sets Auction Record of $67 Million

An unidentified owner sold 22 of 25 vehicles offered for auction this week for a combined $67 million, marking the largest amount raised from a single owner's collection. Known as the Pinnacle Portfolio, the collection was auctioned by RM Sotheby's in conjunction with the Pebble Beach Concours d'Elegance classic car show in Monterey, Calif.

Twelve of the Pinnacle vehicles sold set new records for their models. This includes the $17.6 million paid for a 1964 Ferrari 250 LM, which is the 23rd example of a 32-unit production run.

The collection's second highest seller was a McLaren F1 with an LM-spec performance package, which fetched a model-record $13.75 million.

Other record setters include the $6.05 million bid for the final Ferrari Enzo, which Ferrari donated to Pope John Paul II to raise funds for victims of the 2004 tsunami. At the time, it was sold for $1.1 million.

Several other Ferraris in the collection were gaveled to multi-million dollar bidders, including a 1967 Ferrari 275 GTB/4 and a 1994 Ferrari F40 LM, each of went for $3.3 million, as well as a1972 Ferrari 365 GTS/4 Daytona Spyder ($2.75 million) and a 1985 Ferrari 288 GTO ($2.42 million). In addition, the first Bugatti Veyron was sold for $2.3 million and a 2005 Maserati MC12 went for $2.09 million.

The three models not sold because they didn't' meet minimum bid expectations were a 1960 Ferrari 250 GT SWB Berlinetta Competizione, 1959 Ferrari 250 GT LWB California Spider and 1955 Mercedes-Benz 300 SL Alloy Gullwing. The three cars were expected to raise at least another $22 million.