1994 Ferrari 348

GT Michelotto Competizione Berlinetta
$435,778
Sale Price
$303,000 - $352,000
Est. Range
Yes
Reserve
148
Lot Number
#3
Competition car, original as-raced
RM Sotheby's
Auction House
Chassis no. ZFFUA35B000099107. Rosso Corsa over red cloth. 3405/360hp V8, 5-speed, fully race prepared by Michelotto in exhaustive FIA compliant detail for performance and safety, Speedline one piece centerlock alloy wheels, old PZero slicks.

Evaluation: One of 11 built. Delivered in the United States, later owned by John O’Quinn. Track day use only and showing 3503 believable km. The upholstery on the Momo seats is a little dirty. There is plenty of evidence of use, including scraped front and rear undertrays, a banged bumper corner, scraped body sills, and a variety of chips. The engine compartment is clean and fresh, reflecting a 2019 belt service and gearbox rebuild. Visibly used but exceptionally usable.

Bottom Line: Read this carefully: Sold by RM to John O’Quinn at Amelia in 2007 for $83,600 showing 2685 km. Sold by RM from the O’Quinn estate to the present owner at Amelia in 2010 for $82,500 showing 2695 km. Now showing 3503 km, 808 more than eleven years ago but brought over five times the price. Even adding €18,000 (circa $21,000) for the belt service and gearbox rebuild, this still is a huge result for a car with no competition history that is, per the catalog writeup, “Eligible for a handful of historic racing events.” There is surely some compelling ulterior motive behind the enthusiasm shown by two bidders for this car, and it is best left to those with the big checkbooks to work that out. For an objective observer this price is inexplicable.

by Rick Carey
21 February 2021
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Condition definitions
Condition #1: Concours
Condition #1 vehicles are the best in the world. The visual image is of the best vehicle, in the right colors, driving onto the lawn at the finest concours. Perfectly clean, the vehicle has been groomed down to the tire treads. Painted and chromed surfaces are mirror-like. Dust and dirt are banned, and materials used are correct and superbly fitted. The one word description for #1 vehicles is “concours.“
Condition #2: Excellent
#2 vehicles could win a local or regional show. They can be former #1 vehicles that have been driven or have aged. Seasoned observers will have to look closely for flaws, but will be able to find some not seen by the general public. The paint, chrome, glass and finishes will all appear as excellent. No excessive smoke will be seen on startup, no unusual noises will emanate from the engine. The vehicle will drive as a new vehicle of its era would. The one word description for #2 vehicles is “excellent.“
Condition #3: Good
#3 vehicles could possess some, but not all of the issues of a #4 vehicle, but they will be balanced by other factors such as a fresh paint job or a new, correct interior where applicable. #3 vehicles drive and run well, but might have some incorrect parts. These vehicles are not used for daily transportation but are ready for a long tour without excuses, and the casual passerby will not find any visual flaws. “Good” is the one word description of a #3 vehicle.
Condition #4: Fair
#4 vehicles are daily drivers, with flaws visible to the naked eye. The chrome might have pitting or scratches, the windshield might be chipped. Paintwork is imperfect, and perhaps the body has a minor dent. Split seams or a cracked dash, where applicable, might be present. No major parts are missing, but the wheels could differ from the originals, or other non- stock additions might be present. A #4 vehicle can also be a deteriorated restoration. “Fair” is the one word that describes a #4 vehicle.
Condition #5: Poor
Running, but battered, incomplete, and perhaps rusty.
Condition #6: Parts car
Parts car.
N/A
Hagerty only assigns condition ratings to vehicles we can inspect in person or, for online listings, via high-quality photography.