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Lot 59

2019   |   Pebble Beach 2019

1956 Ferrari 250 GT Coupe

Coachwork by Boano

SOLD $522,000

Estimate

$500,000 - $600,000

Chassis

0581GT

Engine

0581 GT

Car Highlights

Recently Emerged from 35 Years of Storage
Formerly Owned by ATS Automobili Principal Giorgio Billi
Retains Original Engine per Factory Build Sheets
Documented with Invoices and History by Marque Expert Marcel Massini
An Exciting Find and Perfect Basis for a Concours-Level Restoration

Technical Specs

2,953 CC SOHC V-12 Engine
Three Weber 36 DCL/3 Carburetors
240 BHP at 7,000 RPM
4-Speed Manual Gearbox
4-Wheel Hydraulic Drum Brakes
Front Independent Suspension with Coil Springs
Rear Live Axle with Semi-Elliptical Leaf Springs and Parallel Trailing Arms

Saleroom Addendum

Please note that this vehicle is titled 1957.

Register to Bid

Guido Settepassi, Florence, Italy (acquired new in 1956)Giorgio Billi, Florence, Italy (acquired from the above in 1958)Jim Rose, Portland, Oregon (acquired by the late 1960s)Ken Taylor, Portland, Oregon (acquired by 1973)Scott Nicholson, Seattle, Washington (acquired circa 1974)Edward Long, Seattle, Washington (acquired by the mid-1970s)Stephen Caswell, Tacoma, Washington (acquired by 1982)Current Owner (acquired from the above in 1984)

The Boano-bodied 250 GT Coupe represented Ferrari’s greatest stride yet toward standardized production and is now regarded as one of Maranello’s most desirable early road cars. Fresh from 35 years of storage, this sensational garage find with important ownership provenance is a patinated example with tremendous promise. According to the research of marque expert Marcel Massini, chassis 0581 GT underwent factory completion in late 1956 and subsequently was sold to the first owner, Guido Settepassi, a silversmith residing in Florence, Italy. Factory documents show that Mr. Settepassi returned the car for service in October 1957 and, a year later, he sold the Ferrari to Giorgio Billi, an industrialist based in Florence who would go on to co-found ATS Automobili – the marque responsible for one of the world’s first mid-engine sports cars.

Billi submitted the 250 GT for factory service in March 1959, and not long afterward the car was exported to the US. According to the research of a former owner, the Coupe passed through three more owners during the mid-1970s before being acquired by Edward Long of Seattle, who retained possession through at least September 1978, when he wrote the Ferrari factory to obtain copies of the build sheets. Mr. Long appears to have conducted some freshening to the Boano, as it was later offered with a fresh coat of silver paint and recent mechanical and trim work.

At some point in the coupe’s history, it was fitted with taillights of a different shape than are normally found on a Boano-bodied 250 GT. While the bumpers are not currently installed, they do accompany the car at auction.

After passing to Stephen Caswell of Tacoma, Washington, in 1982, the Ferrari was purchased in 1984 by the consignors, also residents of Washington. Given the nadir in 250 GT values at the time, the Coupe was deemed primarily a potential investment and the owners immediately garaged the car in a dry locale in eastern Washington state. In late 2018, the consignors finally opted to sell their beloved Boano, and the noted marque experts at Dennison International were retained to recommission the car. This work included attention to the braking, fuel, electrical, ignition, and cooling systems. The engine received new rod bearings and the rear axle was completely rebuilt with a new differential and ring and pinion gears. While currently in running and driving condition, the Ferrari will need some additional mechanical attention before road use, including a service to the clutch, as it has been found to slip.

It is not every day that a Ferrari 250 GT comes out of 35 years of careful storage. Ideal for a full restoration or sorting for road use, this 250 GT continues to feature its original engine and upholstery. It would make a fantastic acquisition for the Ferrari enthusiast seeking to steward a restoration candidate from project to show winner, and represents a unique opportunity to be the first to enjoy its many charms in over three decades.