A 1930s bulbous race car expected to be the most expensive car with the Porsche name ever sold at auction. But the sale was ruined by a confusing mix at the auction stage.
Technically, the Type 64 is not really a Porsche because the company did not yet exist when Ferdinand Porsche created the car in Nazi Germany. But the role of ancestor of today's Porsche sports cars is clear, and it was expected to sell Saturday for as much as $ 20 million.
Many in the audience gasped and others laughed. It was unclear from the auctioneer's voice that he actually said "-teen" and not "-ty." The problem even continued to $ 14 million, which was shown as $ 40 million, when $ 15 million was shown on the screen as $ 50 million. The board read $ 70 million before the auctioneer realized the problems right behind him and asked to have it fixed.
The one sold in Monterey was technically the third car, but it was built on the frame of the first after being crashed by a Nazi Volkswagen executive. The second Type 64 was confiscated by Allied forces after the war and crashed shortly after. It was later rebuilt and is now on display at a museum in Hamburg, Germany, after spending some time at the Petersen Museum.
The Porsche family got to keep this special Type 64, and it was much driven by both Ferdinand and his son Ferry, who would later create 356. Ferry used the family name at the front of the car. In 1947, this type 64 was restored by Turin, Italy, a car design and production company known today as Pininfarina.
RM Sothebys said on Sunday that it is continuing to try to close a sale on the car.
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