A 1964 Ferrari 250 GT Berlinetta Lusso with chassis 5931 GT has returned to the auction market at Pebble Beach, where it sold for $1.15 million without reserve. The result fell well below the pre-sale estimate of $1.5 million to $1.8 million and also came in below the $1.43 million that the same car achieved at auction in 2020.
1964 Ferrari 250 GT Lusso sells for $1.15 million at Pebble Beach
Ferrari completed this particular Lusso in July 1964, near the end of the model’s production run. Chassis 5931 GT ranks as the 341st of only 350 examples built between 1963 and 1964. It originally left Maranello in Azzurro over Nuvola Connolly leather before reaching the United States through Luigi Chinetti Motors in New York.
The car remained on the East Coast during its early years and received a white repaint before Arthur Stickney of Boston acquired it in 1970. It later passed through several long-term owners before resurfacing in 2011 and eventually joining a Southern California collection. Fast Cars Ltd. of Redondo Beach began an extensive restoration in 2013, stripping the body to bare metal and rebuilding major mechanical and electrical systems. The car now wears Amaranto over beige.
Its mechanical originality remains one of its strongest attributes. Factory records confirm that the engine, gearbox and rear axle retain their original matching numbers. The current owner also started the Ferrari Classiche certification process, although final approval remained pending when the car went to auction. Team CJ Works in Austin handled more recent service and preparation.
Under the Pininfarina-designed and Scaglietti-built body sits Ferrari’s 3.0-liter Colombo V12, fed by three Weber carburetors and producing 240 hp at 7,500 rpm. A four-speed manual transmission sends power to the rear wheels, while the 94.5-inch wheelbase helped the Lusso combine classic Ferrari performance with a more refined grand-touring character.
The auction result creates an interesting comparison with 2020. Back then, the same chassis sold for $1.43 million against a $1.4-1.8 million estimate. Six years later, stronger documentation, further cosmetic work and an ongoing Classiche application were not enough to push the price higher. Instead, chassis 5931 GT changed hands for roughly 20% less, showing that even highly collectible classic Ferraris do not always move upward in value