Heroshot

2000 Ferrari 550

GT1 Competition
RM Sotheby's Milan 2021
Tuesday, 15 June 2021
€1,805,000 ($2,187,660)
Sale Price
€1,800,000 - €2,200,000
Est. Range
Yes
Reserve
15 June 2021
Sold Date
117
Lot Number
#3+
Competition restoration
RM Sotheby's
Auction House
Chassis no. 115811; Engine no. 01/03C-F550. Blue with Red Bull graphics over blue cloth. Race prepared V12 with air restrictors, sequential manual gearbox, single OMP seat, Sabelt 5-point belts, Sparco multi-function suede rim steering wheel, fire system, Motec display, OZ centerlock wheels, Pirelli PZero slicks.

Evaluation: One of four built by Italtecnico, raced by several teams with disappointing results except when finishing 3rd in the 2004 Italian GT Championship driven by Lorenzo Casé. Drivers include Toto Wolff. Restored to 2002 Red Bull sponsored FIA GT livery but in many respects shows its several seasons. Freshened in 2018 and said to be race ready for several attractive series.

Bottom Line: Despite having a succession of excellent drivers this 550 GT1 suffered from repeated mechanical failures that only were addressed after several years of development. Fortunately, it now appears to have reached a level of preparation and development that make it competitive in historic and Ferrari events and it was highly valued for that eligibility and potential in this transaction.

Its unremarkable period history is reflected in this result, which is half what RM got for a highly successful Prodrive-built 550 GT1 in the Monterey Shift auction last August.

by Rick Carey
30 June 2021
A story about
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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.