A never-raced Ferrari 499P Modificata brought CHF 8,217,500, about $10 million, in Geneva on Nov 8, the first ever sold at public auction. The late-model specials around it, from the F12tdf to the 812 Competizione, sold far below US asking prices.
A Ferrari 499P Modificata, the customer track version of the car that won Le Mans three years running, sold for CHF 8,217,500 including the buyer's premium at Gooding Christie's Geneva auction on Sunday, Nov 8. That's about $10.0 million at Monday's exchange rate. It was the first 499P Modificata ever offered at a public auction, according to Christie's lot page, Classic Driver and Galerie Automobile.
The race car was only part of the story. The sale, held at the Hôtel des Bergues in Geneva, was built mostly around late-model Ferraris, and it gave a rare same-night read on what collectors will actually pay for the specials we track: the 488 Pista and Pista Spider, the 812 Competizione and Competizione A, the F12tdf, the SF90 XX Spider, the new 296 Speciale and the 12Cilindri. Christie's puts the sale total at CHF 21,073,825, about $25.7 million.
The car is chassis 21, built in 2024. Christie's describes it as a race car without a registration certificate that has never been driven beyond its factory shakedown, and it was sold by its first and only owner, according to Galerie Automobile. It keeps its original red livery.
The Modificata is the 499P freed from racing rules. It pairs a 3.0-liter twin-turbo V6 with a front electric motor. Galerie Automobile puts normal output at about 707 horsepower (metric), with a push-to-pass mode adding 163 more for close to 870, which matches the up to 870 PS Christie's quotes. It can't enter a race. Instead, the owner drives it at track days run through Ferrari's Sport Prototipi Clienti program, with the factory handling maintenance, transport and trackside support. Classic Driver reports the car stays in Maranello under that program until December 2028.
Christie's listed the estimate as "in excess of CHF 7,500,000", so the result cleared it by about 10%. Classic Driver called the price remarkable for a track-only car and says a small, exclusive market for privately owned endurance hypercars appears to be taking shape. Galerie Automobile called it the undisputed star of the sale.
All prices below include the buyer's premium, from each car's Christie's lot page. Estimates don't include the premium. Dollar figures use Monday's exchange rate and are rounded. Some lots also carry Swiss value-added tax on top, according to their lot notes.
One thing to know about the last four. Galerie Automobile's report on the night listed the 12Cilindri, the 12Cilindri Spider, the 296 Speciale Piloti and the 296 Speciale A as unsold. Christie's results pages now show a price for each of them. The likeliest explanation is that they sold after the auction ended, which is common, but neither source says so directly. We've used Christie's figures, and we'd treat those four as softer results than the ones that sold under the hammer.
Our Nov 9 scan of US and Canadian listings gives a sense of the gap between what dealers want and what these cars brought in Geneva. These are asking prices, not sales, and only cars with a listed price count.
That isn't a like-for-like comparison. These are Swiss-market cars sold in Swiss francs, some with tax added on top, and a car bought in Europe costs money and paperwork to bring to the US. A US dealer's price is also a starting point, not a sale. But the gap is far too large to explain away, and it matches what we found with the Daytona SP3, where every European auction sale we've tracked has come in well below the US results (see our F50 and SP3 story).
Geneva backs up two things we've been seeing. The truly rare cars still pull money: a race car you can't register made about $10 million, and the most unusual road car in the room, the Atelier F12tdf, beat its estimate by a wide margin. Spec and story mattered more than miles. The F12tdf had the most miles of any late-model Ferrari in the sale and still did best against its estimate.
Below that, buyers were careful. The 812 Competizione missed its estimate, the Pista Spider landed on its low estimate, and four nearly new cars, the two 12Cilindris and the two 296 Speciales, were reported unsold on the night and only show a price on Christie's site afterward. That fits the cooling we described in Ferrari auction prices are cooling after an August peak.
If you're shopping an 812 Competizione, F12tdf or 488 Pista in the US, use real sold prices like these as your anchor, not dealer listings. Even after allowing for tax and import costs, Geneva says these cars trade well below where many US dealers have them priced. If you're selling, a strong, unusual spec still earns a premium, but a standard car priced off the top of the listings may sit.
Ferrari's season-ending Finali Mondiali runs Nov 17 to 23 in Barcelona, where the 296 Challenge Stradale is reported, but not confirmed, to be revealed on Nov 21 (see Ferrari's two surprise launches). On the auction side, the next useful test is whether US sales of the 812 Competizione and F12tdf start moving toward the European numbers, or whether the two markets stay this far apart. We'll keep tracking both on the model pages below.
A 106-mile 1997 F50 sold for $18,705,000 with fees in Las Vegas on Oct 31, the most ever paid for the model at auction. The same day, an 81-mile Daytona SP3 brought $18,540,000 there, while Ferrari's own 2,948-mile SP3 press car sold for £8,161,250 in London.
Our index of 395 US and Canadian Ferrari auction results peaked about 62% above early-2025 levels in August and has eased about 8% since. More cars are reaching Bring a Trailer, fewer are selling, and dealer prices are starting to give.
Ferrari's CEO promised this morning that two new models will be shown in person before the end of the year, without naming either one. The likeliest first car is the 296 Challenge Stradale, reported to be revealed on Nov 21 at Ferrari's season finale in Barcelona. Here's what's confirmed, what's rumored, and what the second car could be.
Ferrari
