Stunning 'Dino GTS' Takes P1 on Shannons Spring Auction Grid

MELBOURNE – Sept 3, 2013: A stunning red 1974 Ferrari Dino 246 GTS Spyder that has been in the current fastidious Australian owner’s hands for 32 years has taken provisional pole position on the grid for Shannons upcoming Melbourne Spring Classic Auction on September 23.

The rare, original right hand drive Ferrari – one of just 242 examples out of the 1,274 Dino GTS models built – was delivered new through Maranello Concessionaires in the UK to its first owner, located in Marseilles, France.

It arrived in Australia in the late 1970s and was purchased by its current custodian in 1981 from then-Ferrari South Australian dealer, Prestige Motors, with its mileage two years later recorded at just over 30,000. Today its odometer shows 85,722 miles from new.

The Dino has undergone much restoration work in the current owner’s hands, with no expense spared.

A body restoration and a complete repaint from its original Argento Auteuil (silver) to the current Red was carried out in 1992-93, while its Daytona seats were professionally re-trimmed in Black leather with Red inserts by Garry Blackman in June 2008.

Since 1998, the Dino has enjoyed regular documented service and maintenance by marque specialist Tim Ringwood in South Australia, with important work including an engine rebuild in 2004-05, a new stainless steel exhaust system in early 2006 and a suspension overhaul with new bushes fitted in March 2007.

Presenting in lovely condition with a receipt file dating back 30 years, this rare 246 GTS Spyder is one of the few performance cars that is worth as much or more in ‘targa roof’ configuration than as a fixed roof coupe.

Ferraris have been bringing record prices at major auctions around the world in recent years, with a 1967 Ferrari 275 GTB/4 NART Spyder setting a Ferrari world record when it brought US $27.5 million at Monterey in mid-August.

Although not in the same league, resurgent Dino 246 GTS models have been selling in the United States for $300,000-$400,000 recently, making this rare right hand drive GTS potentially excellent buying in the $260,000-$285,000 range predicted by Shannons National Auction Manager Christophe Boribon.

The Dino 246 GTS is one of a number of rare and noteworthy European sporting cars in the September 23 auction.

Others include a superb Queensland-built Aston Martin DBR2 ‘Tribute’ replicating one of the two factory racing sports cars of 1957 (guiding range $100,000-$125,000), a rare 1934 Lagonda Rapier sports Tourer ($35,000-$45,000) and the 1994 Maserati Bi-Turbo Spyder purchased new and owned by Shannons founder, the late Robert Shannon, which is being offered for sale with no reserve and is expected to sell in the $10,000-$15,000 range.