The power of Ferrari

A 1954 blue 212/250 coupe Ferrari with coachwork by Pininfarina has just been sold to an unidentified bidder for $1.1 million in Belgium, during the annual Grand Prix Rally and Concours d'Elegance, confirming the booming demand for the Italian luxury car after another record sale of $52 million for a 1963 250 GTO.

The 1954 blue car was recently identified as one of two Tipo 250 Europa factory, put on auction by a Swiss-based seller. During the Belgium auction, a 1957 Maserati A6G/54GT coupe was also sold for $687,000, a car that had never been offered at auction before, and whose value depended on its original "Blue Ritratto" color scheme with chestnut leather trim, and by the fact that the car was one of just 21 with Allemano luxury coachbuilding.

Classic Ferraris have become like Warhols and Picassos, with dozens of people fighting over them.

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