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One of the world's most valuable, single-owner Ferraris to be sold to aid charitable causes
1967 Ferrari 275 GTB/4*S N.A.R.T. Spider by Scaglietti. Photo: Darin Schnabel ©2013 Courtesy of RM Auctions.

BLENHEIM, ON.- With only 10 cars produced by special request of Ferrari’s North American distributor in the late 1960s, the famous Ferrari 275 GTB/4 N.A.R.T Spyders are unquestionably among the most highly prized of all classic road going Ferrari models. Rare in the extreme, it is unusual for a genuine N.A.R.T. Spyder to come to public auction, but the car on offer is even rarer for being a low-mileage, single-owner example. With the owner’s commitment to seeing the proceeds of the sale donated to charitable causes, the car will be an undoubted star of RM’s two-day sale in Monterey, California, August 16–17, during the Pebble Beach Concours d’Elegance motoring week.

Dubbed by Road & Track magazine as “the most satisfying sports car in the world,” the beautiful Ferrari 275 GTB/4 N.A.R.T. Spyders were the brainchild of Ferrari’s North American distributor and famous Le Mans winner, Luigi Chinetti. Chinetti had seen a likely demand for Ferrari’s beautiful “four-cam” coupe as a full convertible in the North American market, and he set about convincing Ferrari that they should permit him to commission a limited series of such cars from the coachbuilder Scaglietti. The result was a stunningly attractive car with exceptional performance from it’s 330 brake horsepower V-12 engine and with road holding to match.

The example on offer, chassis 10709, was acquired new by Chinetti’s friend, North Carolina businessman and Ferrari afficionado Eddie Smith Sr., who personally picked the car up with Chinetti at the factory in Maranello, Italy. Since Mr. Smith’s passing, 10709 has remained in the hands of his family, who have made the difficult decision to part with the car, but with the wish that the proceeds benefit multiple charitable causes. The sale represents a wonderful, altruistic gesture that is a fitting way for the family to remember the legacy of Mr. Smith, whose own generosity and charitable contributions to his hometown of Lexington, North Carolina, have served to inspire both his community and his family.

“In making the difficult decision to part with the N.A.R.T. Spyder, we wanted to do something that would have brought a smile to my dad’s face,” says Eddie Smith Jr. “He owned Ferraris for all the right reasons and loved driving and enjoying them in the company of fellow enthusiasts. We feel that it needs to be enjoyed and driven by someone who will appreciate the car with the same passion as he did.”

Remembered by all who knew him as a generous, larger-than-life gentleman who was very successful and hard-working, but also as one who freely shared his success with the local community, Eddie Smith Sr. was a lifelong philanthropist and car fanatic with a particular passion for Ferrari and a deep affection for his beloved 1967 275 GTB/4 N.A.R.T Spyder. As one of only ten original N.A.R.T Spyder owners, Mr. Smith was instantly in rarified company and was part of a group that also included Hollywood legend Steve McQueen, who ordered an example of his own from Chinetti after driving a N.A.R.T Spyder in the 1968 film The Thomas Crown Affair. Chassis 10709 is expected to be one of the most valuable motor cars ever offered in Monterey when it crosses RM’s auction podium in August.

Rob Myers, Chairman and Founder, RM Auctions, says, “For RM, this is a double honor. To be able to offer a car as rare as a single-owner 275 GTB/4 N.A.R.T Spyder is incredibly historic, but to be entrusted with offering such a tremendous car in a way that will be of immeasurable benefit to good causes and of special sentimental value to the family, is an amazing thing. Add to that 10709’s exceptional purity, matching numbers, and, most importantly, the fact that it has been owned, cherished, and enjoyed in the same good home from the day it was picked up at the factory by its first owner, then, for the true Ferrari enthusiast, 10709’s offering at auction is quite simply an unrepeatable opportunity.”

A longstanding tradition for collectors, spanning more than 25 years, RM’s Monterey sale returns to the Portola Hotel & Spa and Monterey Convention Center in downtown Monterey, California, from August 16–17. In 2012, RM’s Monterey auction, during the Pebble Beach Concours d’Elegance week, generated a remarkable $96 million in sales and established numerous world records in the process. This year’s event is set to feature yet another exclusive selection of best of category automobiles, with more than 100 blue-chip motor cars slated for the auction podium.

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