Auction Highlight: 1971 Ferrari 365 GTB/4 Berlinetta

This auction was an opportunity to acquire an original right-hand drive 'Daytona' and finish the project to a bespoke specification.

The words ‘project car’ alone are usually enough to prick up the ears of any enthusiast; conjuring visions of the unknown, of discovery, and of possibility. Add the word ‘Ferrari’ to the mix and the intrigue is raised to another level.

In late 2019, Collecting Cars received a tip-off about a Ferrari 365 GTB/4 that had recently been treated to an exacting complete bodywork restoration, but which was otherwise entirely disassembled like a life-sized Meccano kit. It was now seeking a new home with an enthusiast who could take the project to the finish line.

The story behind the car was that it had originally been ordered by a prolific hillclimb competitor and performance car enthusiast named John Cussins. It was collected from the Maranello factory in May 1971, and was driven directly along the Italian Riviera in time for that year’s Monaco Grand Prix.

In 1974, the car was with its third owner when it was involved in an accident, running off the road and down a slope. While the body panels were damaged, they were made worse by the car being wrapped in chains to be dragged back up to the road. In September 1974, the crashed Ferrari was part-exchanged against another ‘Daytona’ in exactly the same specification.

This chassis was subsequently sold to someone who intended to create a 365 GTS/4 replica, and the roof was therefore cut off and discarded. It was sold on again to a well-known Ferrari specialist, with the intention to complete the rebuild. However, other projects took precedence, and in the end this 365 GTB/4 was set aside in partially built form for nearly 30 years.

After being acquired by the seller in 2006, it was put through an incredible transformation during the next 13 years. Extensive specialist repairs were carried out, rebuilt on a jig from the chassis up, which also incorporated original metal tubing from a donor frame. A genuine Scaglietti front section had been sourced by the previous owner, and the new rear section and roof were purchased directly from Maranello Concessionaires.

With its beautiful bodywork restored to Berlinetta configuration by renowned Ferrari coachbuilder Alwin Hietbrink, this 365 GTB/4 was presented in bare metal, with all of the necessary components for the rebuild set out alongside it – including the matching-numbers ‘Colombo’ V12 engine.

Accompanying the car were copies of all the original Maranello Concessionaires correspondence regarding the factory order, collection and early service history. The original buff log book was also included, recording details of the first three registered keepers.

Fewer than 160 examples of the ‘Daytona’ were sold new to the UK, and this auction represented a compelling opportunity to acquire one of those original right-hand-drive cars and finish the project to a completely bespoke specification.

When the auction ended in January 2020, the price achieved far surpassed expectations, with a winning bid of £346,000. Since the auction, the rebuild was not only completed, but the car was enhanced to a ‘Competizione’ racing specification – meaning that after 45 years in slumber, its sonorous 4.4-litre V12 is now being fully exercised again, just as its maker intended.