Sale of the Week

Monterey 2022's highest sale is this $22M Ferrari 410

by Andrew Newton
21 August 2022 2 min read
Photo by Matt Tierney

For one week every August, money and Monterey go hand-in-hand. And 2022 certainly brought the dollar signs. It always does, to be fair, but this year there were 148 cars worth $1M or more crossing an auction block. That’s more seven- and eight-figure cars than there have ever been at Car Week. Of those pieces of million-dollar-metal, 112 sold for a total of $323.7M. Zooming out for the whole week, 782 vehicles sold for a total of $456.1M, which works out to an average price of $583,211.

OK, we get it—lots of expensive cars. But only one can take the top spot, and the star car this year was far and away the 1955 Ferrari 410 Sport, which RM Sotheby’s sold to a room packed with people and raised cell phones for $22,005,000, including fees. The closest thing to come to that, Gooding’s 1937 Bugatti Type 57 Atalante, was only half as much at $10,345,000.

The Scaglietti-bodied racer has one hell of a résumé, including a Rolodex of famous drivers as well as an important place in early Ferrari history and in the history of American sports car racing as a whole.

In early 1955, a still-new Ferrari was only churning out small batches of specialist automobiles, and only a few of them were crossing to our side of the pond to wealthy owners and talented drivers.

This car, Chassis 0598, was lucky enough to receive the best of both. One of two 410 Sports built with a then-new, long-block V-12 of 4954cc (the largest engine yet built by Maranello) and with twin-plug ignition, it first ran as a works car at the 1000 KM of Buenos Aires with Juan Manuel Fangio and Eugenio Castellotti at the wheel. Then, it sold new to Southern California team owner John Edgar. For driving duty, Edgar enlisted a young Texan hotshot named Carroll Shelby, who told the Los Angeles Times "nothing can touch this Ferrari if it runs," and would later quip via a signature on 00598's fuel tank "Mr. Ferrari told me that this was the best Ferrari he ever built."

Shelby won eight races in this car, helping to earn him the US Sports Car Driver of the Year award in Sports Illustrated, and Edgar's son called it "...a perfect marriage for Shelby—brash, powerful, brilliant in how it can destroy competition. To see it run is breathtaking. No, scary.” But his wasn't the only famous butt to touch 00598's seat. Phil Hill, Richie Ginther, Chuck Daigh, Jo Bonnier and Masten Gregory all wheeled the monster Ferrari in anger in period.

So, in a week packed with more great cars than maybe ever, this stood out as an exceptional one. We'll be reporting on many more of cars that crossed the block in the days to come. Stay tuned.

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  • Maestro1 says:

    I’m not impressed. What’s really happening here is that people in this class are moving into money, not fixed assets as they should be doing. To quote several Politicians on both sides of the aisle, the Country has lost its
    mind. So to be prepared to leave is not a bad idea if you can afford it. There are several law firms who deal with transition and most of them do it well. If anybody thinks this is paranoid, look at Arizona and other States
    where serving the people is the lowest item on the totem pole. The top item is somebody’s ignorant opinion.
    If you decide to sell, don’t move the whole collection at once. Move one or a few at a time so that you won’t contribute in depressing market prices.

  • Gerry Resnick says:

    The comment created to foment more unrest…real patriots do the right thing ala John McCain. Do not change the laws to suit the unpatriotic anarchist disruptors and vote for sane representation .

  • John McAlister says:

    @Maestro. Say what? Depressing market prices? Totem Pole? Every person that bought a $500k+ collector car this weekend bought an appreciating fixed asset. Maybe it’s not the country that has lost its mind. My mentor used to say to me, “If you look around and everyone looks like they have lost their minds it’s time for you to look in the mirror, because it’s more than likely you”.

  • Pk says:

    Rather sad. I wonder how many of these purchasers are really “car guys.” At these prices, those cars will be sitting in a museum like environment and won’t be driven on the road. Kinda like stopping at foreplay.

  • randy bailey says:

    I used to depend on football to be free of politics. So much for that. Please don’t use one of the last refuges of freedom from politics as a platform for political opinion. It’s about the cars! Keep it that way.

  • Dr. John M Baker says:

    Automotive ART is in the eyes and heart of the traders. Value is based on completely subjective aspects. Preservation and appreciation of the vehicles is valid, whether in a Museum or a private collection.

  • Anthony V says:

    Everyone whines not only here but on all plate forms, but no one does anything about it. If you do not like it change it or live with it.

  • Richard Haner says:

    wow….never seen so much negative commentary ……waay past my income grade….but price is dictated by one thing….supply and demand…..amazing to me Ferrari chose to sell any of these….but for the lucky few that could afford one, congratulations…

  • Kathleen Ryan says:

    I live in Carmel, CA and look forward to August when the exotics both old and new, and the chopped and custom painted American Hot Rods, come motoring down Ocean Avenue. I enjoy watching the expressions of the people who look at these cars. To me, it’s like Christmas in August to see the eyes light up of people both young and old. These cars bridge generations for a short time, and people of all ages have a shared experience. Hearing, “Hey, did you see that one?” and the tuned dual exhausts revving in town, there’s nothing like it.

  • Steve Dawson says:

    OMG, what a bunch of whiners. Long live cars and car people. If you don’t appreciate high dollar cars, go to your local car show/cars n coffee. Lots to love there too!

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