Often, classic Ferraris that go to auction have been painstakingly restored to perfection. This 1958 Ferrari 250 GT Cabriolet Series I takes a different route, surviving for nearly seven decades in remarkably original condition.
Chassis 0809 GT is heading to RM Sotheby’s Monterey Auction on August 14, 2026, where it carries a pre-auction estimate of $4 million to $5 million. The auction house describes it as arguably the finest preserved example of the 250 GT Cabriolet Series I in existence.
Its significance goes well beyond condition, however. This particular Ferrari was displayed at the 1958 New York International Automobile Show and has passed through the hands of several prominent collectors since then.
Perhaps most remarkably, the Ferrari has had only four private owners from new. It has remained with its current owners since 1985, giving it over four decades of single ownership before its upcoming sale.
One Of Only 40 Built
Ferrari produced just 40 examples of the 250 GT Cabriolet Series I, making it an exceptionally scarce member of the company’s celebrated 250 family. Chassis 0809 GT was the 18th example built and was completed in early 1958.
Pinin Farina gave this example several particularly desirable design features, including competition-style covered headlights and small bumperettes. It was originally finished in Rosso Metallizzatto over a Naturale leather interior, the same combination it wears today.
After completion, the car was allocated to the American market and delivered to Luigi Chinetti Motors in New York City. Chinetti then displayed it at the New York International Automobile Show at the Coliseum in April 1958.
A Remarkably Original Ferrari
Following its show appearance, the Ferrari was sold to surgeon Dr. Paul M. Riffert of Ephrata, Pennsylvania. Riffert later accumulated several other significant Ferraris, including a 410 Superamerica Series III, 275 GTB, and 365 GTC/4.
Riffert traded 0809 GT back to Chinetti in 1965 when acquiring a 275 GTB. It was subsequently purchased by Norman Silver, a prominent early American Ferrari collector whose collection also included cars such as a 250 LM and 275 GTS/4 N.A.R.T. Spider.
Silver retained the Cabriolet for 18 years before selling it in 1983 to John W. Mecom Jr. The Texas businessman had deep connections to motorsport through Mecom Racing, which competed in sports cars, Formula 1, and American open-wheel racing during the 1960s.
After a brief period with dealer Don Meyer, the Ferrari reached its current owners in 1985. It has remained in their collection ever since.
Preservation Could Be Its Greatest Asset
Unlike many valuable Ferraris of this age, chassis 0809 GT has not undergone a complete restoration. RM Sotheby’s says that aside from a repaint in its original color decades ago, the car remains overwhelmingly original.
Crucially, it retains its numbers-matching chassis, engine, gearbox, and rear axle. That level of preservation helped earn the Ferrari second place in the Postwar Preservation class at the 2023 Pebble Beach Concours d’Elegance.
The car has rarely appeared publicly during its current ownership. Aside from Pebble Beach, RM Sotheby’s notes that its only other showing during that period was at The Quail, A Motorsports Gathering in 2007.
Up To $5 Million For A Ferrari Time Capsule
When chassis 0809 GT crosses the block in Monterey, its next owner will be buying one of only 40 250 GT Cabriolet Series I examples ever produced. They will also be taking custody of a Ferrari whose originality and unusually limited ownership history have survived for nearly 70 years.
RM Sotheby’s expects the car to bring between $4 million and $5 million. Would you preserve this Ferrari exactly as it is, or would you be tempted to restore it to concours condition? Let us know in the comments.