12-cylinder 1953 Ferrari racer goes for nearly $13 million at exclusive auction in Italy

By Marcus Amick Published May 28, 2013

If you’re looking to make an investment into collectible cars, it appears that Ferraris are still well worth consideration.

A 1953 Ferrari 340/375 MM Pinin Farina Berlinetta “Competizione” fetched nearly $12.8 million at the exclusive RM Auctions recently held on the grounds of the historic Villa Erba near Lake Como, Italy.

It’s the second most expensive car ever sold at an auction with the first being a 1957 Ferrari 250 Testa Rossa that sold for over $16 million in 2011 and the most expensive closed top car to go to the highest bidder, according to a report by Left Lane news.

… The only known Ferrari to have been driven by three world racing champions.

Left Lane reports that all the calls received during the 20 minute telephone bidding for the ‘53 340/375 MM pushed the car well above the initial 5 million euro estimate to 9.2 euros, including the auction’s fees and commissions.

Ferrari was by far the marquee in most demand by bidders at the Concorso d’Eleganza Villa d’Este.

In addition to the 340/375 MM, other notable Ferrari sales at the event included the 1962 Ferrari 400 Superamerica SWB Coupé Aerodinamico, which fetched €2,184,000 ($2,839,000); the 2004 Ferrari Enzo, which sold for €1,069,600 ($1,390,480); the 1965 Ferrari 275 GTB, for €1,120,000 ($1,456,000); and the 2010 Ferrari 599XX, which brought €918,400 ($1,193,120), according to RM’s official press release.

In total, 15 Ferraris were auctioned off at Villa Erba.

Featuring a 4.5-liter V12 engine born out of the Italian carmaker’s 375 Formula One Racing cars, the 340/375 MM is one of three Ferrari factory racers entered in the 1953 Le Mans 24 Hour race, according to Left Lane. It’s also the only known Ferrari to have been driven by three world racing champions.

No word yet on the name of the actual winning bidder of the 340/375 MM, but I imagine that they probably have a few more Ferraris in their collection.

(Photos courtesy of Left Lane News Copyright © 2005 – 2012 MNM Media, LLC. All rights reserved)

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Marcus Amick has been writing about the world of cars for more than ten years and has covered everything from new automobiles…

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