Miura Madness at Concorso Italiano 2006

CONCORSO & THE CAR WEEKEND 2006
By Joe Sackey

2006 was a vintage year for Miura-lovers with examples of all 3 variants displayed at the premier Italian car event.

Alberto Rosa brought his very early P400, which he drove 500 miles from San Diego, opting for the twisty and breathtakingly spectacular California Highway One (the writer did the same trip in our Shelby Mustang, and the route should be mandatory, once-a-year driving for all sports car enthusiasts). His P400 chassis number 1021 looked as fresh as it did in 1967, courtesy perhaps of California's sparkling weather.

Greg Mitchell brought his authentic Giallo P400S, a lovely original car complete with its wonderfully period vinyl-and-cloth seats. Chassis number 4401 looked magnificent in its sun yellow with dark blue livery. It reminded us that some of the very best original Miuras reside right here in California.

Then there was a trio of Bobileff-restored Miura SVs:

Chassis number 5096 still looked 'as-new' despite the fact that Gianfranco Cappasso has already logged 5,000 miles following its epic restoration with the Miura Maven. Rescued from war-torn Lebanon in the mid-70s, this car is lucky to be with us, and we are lucky to have it in the fabulous condition it is in.

Chassis number 4968 stunned in its silver livery and reddish-brown interior. The car drew gasps from onlookers, despite no longer being in its original colors.

Chassis number 4884 (the writer's own car) had just been authentically restored to its former glory, as the car featured on the factory's Miura SV brochure and on the cover of the much-vaunted Coltrin Miura book. The USA Homologation Prototype received approving nods from the Judges (and legendary test driver Valentino Balboni), and it drove off after securing First Place In Class, much to the delight of restorer (who collected the trophy) and the car's owners Joe & Margaret Sackey.

All-in-all, a fun time was had by spectating Miura-lovers, who stopped by all day to chat about cars they have, or cars they want to have.

The car weekend saw a Miura P400 3571 sell for $206k, and a Miura SV sell for $475k: both figures include auction house fees (ouch!), and both cars represented the bottom end of the market. The SV fell far short of the recent high posted by 4992 of $610k, but the revelation by Bobileff that the car's front chassis frame had inadvertently been re-welded in back-to-front position (obviously by someone other than the factory) suggesting a crash at one point, had at least one well-heeled bidder intent on purchasing the car, withdraw to wait for another opportunity.

The enthusiasm generated by the car weekend has the market in a frenzy as an offer of $750k* was declined by the owner of a Miura SV, and no less than three Miuras were sold to eager enthusiasts this past week alone! The thinking seems to be that even the P400 and P400S will no longer be bargains in the near future, so prospective buyers are adopting a now-or-never approach as the marketplace sees more cars going to long-term owners. With potentially fewer cars coming available in ensuing years, we all know what effect that will have on prices.

* For years this writer has watched Lamborghini Miura SV prices shadow those of Ferrari 275GTB/4 cam. Those of us who were there saw a decent 275GTB/4 cam sell at RM Auctions for $990k. At that level, the even more beautiful, yet more rare, and much more exhilarating-to-drive SV seems to be very good value at recent numbers. Those who think SV values are high now might think differently in years to come.

	*Miura Madness 2006*		Last updated Aug 27, 2006
			CONCORSO & THE CAR WEEKEND 2006 By Joe Sackey 2006 was a vintage year for Miura-lovers with examples of all 3 variants displayed at the premier Italian car event. Alberto Rosa brought his very early P400, which he drove 500 miles from San Diego, opting for the twisty and breathtakingly spectacular California Highway One (the writer did the same trip in our Shelby Mustang, and the route should be mandatory, once-a-year driving for all sports car enthusiasts). His P400 chassis number 1021 looked as fresh as it did in 1967, courtesy perhaps of California's sparkling weather. Greg Mitchell brought his authentic Giallo P400S, a lovely original car complete with its wonderfully period vinyl-and-cloth seats. Chassis number 4401 looked magnificent in its sun yellow with dark blue livery. It reminded us that some of the very best original Miuras reside right here in California. Then there was a trio of Bobileff-restored Miura SVs: Chassis number 5096 still looked 'as-new' despite the fact that Gianfranco Cappasso has already logged 5,000 miles following its epic restoration with the Miura Maven. Rescued from war-torn Lebanon in the mid-70s, this car is lucky to be with us, and we are lucky to have it in the fabulous condition it is in. Chassis number 4968 stunned in its silver livery and reddish-brown interior. The car drew gasps from onlookers, despite no longer being in its original colors. Chassis number 4884 (the writer's own car) had just been authentically restored to its former glory, as the car featured on the factory's Miura SV brochure and on the cover of the much-vaunted Coltrin Miura book. The USA Homologation Prototype received approving nods from the Judges (and legendary test driver Valentino Balboni), and it drove off after securing First Place In Class, much to the delight of restorer (who collected the trophy) and the car's owners Joe & Margaret Sackey. All-in-all, a fun time was had by spectating Miura-lovers, who stopped by all day to chat about cars they have, or cars they want to have. The car weekend saw a Miura P400 3571 sell for $206k, and a Miura SV sell for $475k: both figures include auction house fees (ouch!), and both cars represented the bottom end of the market. The SV fell far short of the recent high posted by 4992 of $610k, but the revelation by Bobileff that the car's front chassis frame had inadvertently been re-welded in back-to-front position (obviously by someone other than the factory) suggesting a crash at one point, had at least one well-heeled bidder intent on purchasing the car, withdraw to wait for another opportunity. The enthusiasm generated by the car weekend has the market in a frenzy as an offer of $750k* was declined by the owner of a Miura SV, and no less than three Miuras were sold to eager enthusiasts this past week alone! The thinking seems to be that even the P400 and P400S will no longer be bargains in the near future, so prospective buyers are adopting a now-or-never approach as the marketplace sees more cars going to long-term owners. With potentially fewer cars coming available in ensuing years, we all know what effect that will have on prices. * For years this writer has watched Lamborghini Miura SV prices shadow those of Ferrari 275GTB/4 cam. Those of us who were there saw a decent 275GTB/4 cam sell at RM Auctions for $990k. At that level, the even more beautiful, yet more rare, and much more exhilarating-to-drive SV seems to be very good value at recent numbers. Those who think SV values are high now might think differently in years to come.