An unprecedented private collection of iconic cars including a limited edition Ferrari given to the POPE is expected to sell for a landmark £50 MILLION.
The ‘Pinnacle Collection’ is like nothing that has ever been offered on the open market.
It is made up of more than 20 cars, assembled with “surgical precision” and including the first and last Bugatti Veyron – along with a very rare McLaren F1 LM.
Every sports car is up there with the best, or the most important of its type, and each represent key milestones in design, engineering and performance.
Ferrari was only going to build 399 Enzos, which it named after its famous founder.
But in 2005 the Italians built a 400th model for Pope John II, who auctioned it off for victims of the devastating tsunami.
Incredibly, it has only been driven 100 miles and is expected to sell for well in excess of £1 million.
The McLaren F1 was the second to last one built by the manufacturer and later upgraded to LM spec. It is worth around #8 million.
A 1964 Ferrari 250 LM, which was originally owned by a Bristol man, is expected to be the most expensive car.
Ron Fry, from the famous chocolate family, would race the Ferrari at venues around the UK including Longleat, Castle Combe and Yeovilton.
Now over in the US, the 250 LM should sell for in excess of #12 million, while an alloy-bodied Mercedes Gullwing – one of 29 – is worth #5 million.
The anonymous owner managed to acquire not only the first Bugatti Veyron coupe, but also the 300th and last.
A Lamborghini Reventon, inspired by a fighter jet, will also get a lot of attention as will a 1971 Lamborghini Miura SV, a model regarded as the first supercar.
The Ferrari 250 GT LWB California is one of the most desirable convertible ever made and should fetch in excess of £8 million.
In total, there are nine Ferraris, two Mercedes, two Bugattis, two Lamborghinis, two Porsches, one Saleen, one Koenigsegg, one Jaguar, a Maserati, a McLaren and a 1967 Toyota.
Auction House RM Sotheby’s yesterday (Thurs) announced it had come to an agreement with the owner to sell the collection at its high profile Monterey Sale in California.
It is thought the cars could end up selling for a total of £50 million.
Shelby Myers, car specialist, RM Sotheby’s, described the offering as “absolutely unprecedented” in terms of its importance and rarity.
He said: “While many of the world’s most impressive collections were established in the public eye of the car-collecting world, The Pinnacle Portfolio was assembled with a clandestine, surgical precision unlike any other that has come to market.
“Its almost obsessive focus on perfection, rarity, and the superlative, irrespective of price, makes it the most significant and valuable private collection of motor cars ever presented at auction.
“From Ferraris and Lamborghinis, to Bugattis and Porsches, an offering of this importance and rarity is absolutely unprecedented.
“A sure focal point of this year’s Monterey week, it provides the most serious car collectors an exclusive opportunity to own the pinnacle model of each of the world’s most celebrated marques.”
The cars will be auctioned off in California on August 13.
The sale of major car collections are popular at the moment as people look to cash in on their assets or use the money from sales to buy exceptionally rare models.
Last year dental entrepreneur James Hull sold his collection of 450 classic British cars to Jaguar for an undisclosed figure.
And RM Sotheby’s auctioned the US-based ‘Andrews Collection’, made up of 70-plus cars, earlier this year for #35 million.
John Collins, boss of Talacrest in Berkshire, recently bought and sold a 27-strong collection of rare cars for more than #20 million.
The classic car dealer said The Pinnacle Collection was one of the best he had seen come up for sale.
He said: “It has been built up over the past five years and the 250 LM is a particularly good car.
“I know people with £500 million worth of cars but I have not seen a collection like this come up for sale at auction before. It is a great coup for RM.
“If it had come up for sale in the UK I would have jumped at the chance to buy it.”
If the owner of The Pinnacle Collection, believed to be a Florida businessman, makes £50 million from the auction he could use the proceeds to buy one of the best Ferrari 250 GTOs.
The 250 GTO is the holy grail of classic cars but getting hold of one is difficult, according to Mr Collins.
“But cash talks,” he added.