Page 33 - Demo

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SCM Analysis awarded Europa is an important cornerstone of the 250
GT legend. It continues to benefit from Mr. Hoyt’s top-
notch restoration, and it is desirably documented with
the Ferrari Classiche Red Book that certifies the con-
tinued presence of the matching-numbers V12 engine.
This car, Lot 230, sold for $4,295,000,
including buyer’s premium, at RM
Sotheby’s Coral Gables, FL, auction on March 2, 2024.
The flamboyant Vignale coachwork of 250 Europa s/n
0295EU grabs your attention and pulls you to it like a
magnet. Then you look inside and see Vignale’s hall-
mark details such as an engraved chrome trim strip that
encircles the cockpit, or the engraved glovebox handle,
or the articulating window cranks. Even the heater is a
work of art, positioned in full view and painted to match
the car. The car is a coachbuilding masterpiece, and
that is just the start of our subject car’s story.
The judge’s verdict
This Europa really is a Ferrari milestone, and per-
haps the best way to understand it is to look at it the way
a judge would. Ferrari marque concours are judged
under the International Advisory Committee for the
Preservation of Ferrari Automobile (IAC/PFA) guide-
lines. They are judged on originality, authenticity and
condition, with minor emphasis on cosmetics. Cars start
with 100 points, with points deducted for issues in the
judged areas. Cars scoring 97 or more points receive a
coveted Platino award. They are then eligible to receive
major awards, up to and including the top Best of Show
award.
A major awards meeting is held after judging, with
chief class judges representing the cars in their class.
Point scores are irrelevant in major award discussions;
instead, judges use a system that applies “Special
Factors.” If two or more cars are suggested for the
same major award, these Special Factors are applied
to determine the winner. Applying them here clearly
demonstrates the significance of our subject car.
The Special Factors are Rarity, Design & Engineering,
Historical Significance, Difficulty of Restoration,
and Elegance. There are few cars that could match
this Europa. It was the first of only 22 first-series 250
Europas built, one of three 250 Europa coupes bodied
by Vignale, and one of only two that feature a Colombo-
designed 250 motor, so it nails Rarity. With regard to
Design & Engineering, this very car was the first time
a 250 engine was used in a Ferrari designed for road
use. For Historical Significance, besides being the first
250-powered production car, it was also the 1953 Paris
Show Car. The Europa was taken apart and stored for
years before the restorer got it, and many pieces had
to be fabricated from period photographs, significantly
ramping up Difficulty of Restoration. Finally, Vignale
designs are often polarizing, but there is no denying this
car has Elegance.
A case for Columbo?
The difference in the engine in the first two 250
Europas and the other 20 deserves amplification.
The first two used Colombo-style engines enlarged to
3 liters. This Colombo design was used on virtually
all of Ferrari’s production V12 engines. The other 20
250 Europas used a Lampredi-designed engine. The
Lampredi engines are also known as “long blocks,”
due to their physical size. Ferrari normally used the
complicated Lampredi designs for large-displacement
competition engines. Why Ferrari used this engine in
the 250 Europa is a bit of a mystery.
Shown the door
It is difficult to overstate the importance of this car.
Certainly, there are more important competition cars
and more valuable road cars, but this Europa is up there
with the best. RM Sotheby’s estimate was $4,500,000–
$5,500,000. The final sale of $4,295,000 was a bit disap-
pointing but not unexpected. The seller has done all the
big shows and wrung about as much enjoyment out of
the car as possible.
The seller enjoys showing their cars on the concours
circuit, so it is no surprise they let this one go, rather like
an aged-out racehorse. Top shows like “debut” cars, or
important cars that have not been seen for years. This
car has made the rounds, so it is on to the next car for
the seller. The buyer has limited options for showing the
car, but that does not limit the pride of owning one of the
cornerstones of the Ferrari world.
While four and a quarter million dollars might look
light in comparison to some of the most valuable Ferrari
250s, it is still huge money in the car world. It is also
a relative bargain for a Ferrari that can go toe-to-toe
on the concours field with the likes of its 250 brethren.
Both sides got what they wanted here. The seller got
fair money for an important Ferrari. The buyer got an
important Ferrari for a fair price. Everyone goes home
happy. ♦
(Introductory description courtesy of RM Sotheby’s.)
STEVE AHLGRIM cut his Ferrari teeth as general manager and
vice president of FAF Motorcars, a former Atlanta-area authorized
Ferrari dealer. Today he owns Italycars LLC, a Ferrari appraisal,
inspection and consulting service. Steve is an IAC/PFA council
member and judges Ferraris at many of the top concours. He has
been writing for SCM since 2002.
DETAILS
Years produced: 1953–54
Number produced: 22
Tune-up cost: $3,500-plus
Chassis # location: Left frame member
by steering box
Engine # location: Stamped on lug on
the right rear side of engine block
Club: Ferrari Club of America
Web: www.ferrariclubofamerica.org
Alternatives:
1954 Mercedes Benz 300 SL
Gullwing,
1957 Maserati 3500 GT,
1953 Fiat 8V Supersonic
COMPS
1953 Ferrari 250 Europa Series I coupe
Lot 140, s/n 0313EU
Condition: 2
Sold at $3,462,426
RM Sotheby’s, Maranello, Italy, 9/9/17
SCM# 6846452
1953 Ferrari 250 Europa coupe
Lot 216, s/n 0313EU
Condition: 1-
Sold at $3,300,000
RM Sotheby’s, New York, NY, 12/10/15
SCM# 270243
1953 Ferrari 250 Europa Series I coupe
Lot 225, s/n 0305EU
Condition: 1
Sold at $2,750,000
RM Auctions, Monterey, CA, 8/16/14
SCM# 244950
Sports Car Market JUNE 2024 53