Ferraris on Sale at Hamptons Auto Classic
As we reported last month, a rare 1957 Ferrari recently sold for $12 million, setting a new world record. That doesn't mean that all classic Ferraris are outrageously expensive, though it is a good indication that the cars are bound to significantly increase in value once the recession is in remission. At the Hamptons Auto Classic on June 13 in Bridgehampton, NY, some of the fat cats who've had to sell their fancy mansions there are apparently unloading their classic car collections as well. The star lot is this 1962 Ferrari 250 GT Pininfarina Cabriolet Series II, estimated at only $525,000 - $575,000; 250 GT spyders regularly fetch seven figures. One of only 200 built, the car has had a full restoration to a very high show standard including paint, leather and engine.