iTaliaN TaXMaN seiZes 430 cars
Single-owner collection of Ferraris, Porsches and Aston Martins ‘must go’
The largest single-owner car collection ever seen in Europe at auction will be sold to pay off a multi-million Euros income tax bill.
RM Sotheby’s will auction the lot in conjunction with the Milan AutoClassica show on 25 November. All 750 lots were confiscated from one Italian man who owed an undisclosed amount to the Agenzia delle Entrate (Italy’s Inland Revenue Service). All items will be sold at Duemilia Ruote (2000 Wheels) with no reserve. Judging by the estimated value of the classics alone, the collector owes the taxman tens of millions of Euros.
The massive haul includes more than 430 cars, 150 motorcycles, 60 boats and hundreds of bicycles and automobilia items. There will be 60 Porsche 911s, 45 Ferraris and 21 Jaguar E-types offered for sale, along with numerous high-ticket items like Aston Martins, Rolls-Royces and Bentleys. Lower ticket lots include a number of 1990s and 2000s Jaguars, as well as several Alfa Romeos, Lancias, Fiats and Volkswagens of various ages.
RM Sotheby’s European public relations manager, Peter Haynes tells
CCW: ‘RM’s client is the Italian authorities – the cars were owned by one individual, who had some unsettled income tax bills. It wasn’t a public collection in any shape or form, and therefore isn’t terribly well known. It was all stored in private units. Not much is known about the former owner, either.
‘All items are without reserve – it all needs to be gone. No-one will pick up a Ferrari F40 on the cheap, though, as – everyone knows what they’re worth and there’s been a lot of interest in the sale already. However, some of the more ordinary stuff might sell for a good price. There are a few Alfa Romeos and Lancias that need a little TLC, for example.’ Murray scullion
❚ To see the Duemilia ruote catalogue visit www.rmsothebys.com