2001 Ferrari 550

GT1 Prodrive coupe
Sale Price
Lot Number
Competition Restoration
RM Sotheby's
Auction House
Chassis No. ZFFZR49B000108418. Red over black. 6.0-liter V-12, Xtrac 6-speed sequential transmission.

Evaluation: Competition restoration | The second of twelve 550 GT1s built by Prodrive. Campaigned extensively from 2001 to 2005, with 15 pole positions, 14 outright wins, and 29 podiums on its résumé. Won the 2004 FIA GT Championship and took overall victory at that year’s Spa 24 Hours. Has since been fully rebuilt and will be delivered race-ready. Located in France

Bottom Line: Gooding & Company’s sale of a lovely long nose 1966 Ferrari 275 GTB on August 7 (see next entry) broke the world record for an online auction car at $3.08M. That record lasted barely a week before this car came along. The price makes sense: The Prodrive 550s were real winners, and this was one of the most successful of them all. As the name indicates, the 550s weren’t factory-built cars but conversions done by Prodrive, the British outfit that ran Subaru’s championship-winning rally team. (During the early 2000s, Ferrari was too busy steamrolling everybody in Formula 1 to care much about sports car racing.) Although it’s a bit apples and oranges to compare the online “Monterey” sales this year with the real thing last year, it’s worth noting that if this car sold at the Portola in Monterey in 2019, it would have come in at No. 10 on the week’s top 10 sales list.

by Andrew Newton
20 August 2020
A story about
Valuation Tools

See how much your car is worth.

Get current values, historical values, model history and more.

Leave a Reply

Your email address will not be published.

More on this topic

Hagerty Insider Newsletter

Your weekly dose of auction reports, market analysis, and more.

Thank You!
Your request will be handled as soon as possible
Hagerty Insider Newsletter
Your weekly dose of auction reports, market analysis, and more.
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.
Hagerty only assigns condition ratings to vehicles we can inspect in person or, for online listings, via high-quality photography.