A uncommon 1962 Ferrari 330 LM initially owned and raced by Ferrari’s manufacturing unit staff is developing on the market and should set a document for the very best value paid for a Ferrari at public sale.

The automobile will go below the hammer on Nov. 13 at an RM Sotheby’s sale in New York Metropolis, and at the moment carries an estimate of $60 million.

Although steep, the estimate is according to costs paid for different uncommon classics. A 1963 250 GTO bought in 2018 for a rumored value of $70 million, albeit privately. And a 1955 Mercedes-Benz 300 SLR, one among solely two Uhlenhaut Coupe examples, bought final 12 months for over $140 million.

The 330 LM is in the identical league as these vehicles. The Ferrari race automobile was an extra growth of the 250 GTO constructed to adjust to altering FIA rules. Solely 4 have been constructed, as Ferrari was getting ready to maneuver to a mid-engine platform, and solely two have been constructed with bodywork resembling the 250 GTO. The automobile developing on the market, bearing chassis no. 3765, is a type of two.

1962 Ferrari 330 LM bearing chassis no. 3765 – Picture credit score: RM Sotheby’s

Clues that give away its identification is the signature bulge within the hood to accommodate the bigger 4.0-liter V-12 engine used within the 330 LM, as an alternative of the three.0-liter engine within the 250 GTO. The 330 LM’s floorpan can also be longer as a result of engine.

In accordance with Ferrari, the V-12 is nice for 385 hp, or sufficient to hold the automobile to a high velocity of 174 mph.

The engine sits in a tubular metal chassis that options impartial entrance suspension and a stay axle on the rear. The bodywork is by Scaglietti. Later examples of the 330 LM featured bodywork by Pininfarina and extra intently resembled the 250 Lusso, albeit with a face nonetheless matching the design of the 250 GTO.

1962 Ferrari 330 LM bearing chassis no. 3765 – Picture credit score: RM Sotheby’s

The 330 LMs noticed loads of competitors use, particularly on the 24 Hours of Le Mans from which they take the LM suffix to their identify. Chassis no. 3765 wears the identical livery it did for the 1962 24 Hours of Le Mans, the place it certified in seventh place however failed to complete. Its biggest success was in a 1,000-kilometer race on the Nürburgring in 1962, the place it completed second total and first in school.

After Ferrari was accomplished racing the automobile, it was bought in 1964 to Ferdinando Latteri who put in a 3.0-liter V-12 in order that it may very well be fielded as a GTO in Italian GT racing. It then traded fingers a number of occasions earlier than ending up with its present proprietor, Ohio resident Jim Jaeger, in 1985. He managed to relocate its unique engine and had a full restoration accomplished.

In accordance with the itemizing, the automobile is extremely documented and comes with copies of the unique manufacturing unit construct sheets, interval racing protection, and house owners’ correspondence.