The very rare and striking-looking 1977 Lamborghini Countach LP400 Periscopica that crossed the auction block around Valentine’s Day, coming with a very interesting and colorful history, has set a record for an RM Sotheby’s event.
The car, which had seen a complete modification and subsequent restoration to factory specs, was owned from new by legendary singer Sir Rod Stewart. It was his first-ever Countach (though not the first Lamborghini), and he appreciated it so much he would take it with him all over Australia as he toured, then to Los Angeles and his home country, the UK.
Over the years, the LP400 chassis no. 1120262, which started out in right-hand configuration with Rosso paintwork over a Tobacco interior, was heavily modified. In 2002, when the second owner acquired it, it was a left-hand drive, had a new engine, had had the roof removed and a new paint job, new wheels, new interior, and a wider body by Albert Mardikian Engineering.
It was brought back to factory spec starting in 2013, so the as-new LP400 was expected to fetch between €750,000 and €900,000 ($912,510-$1.1 million), celebrity provenance and all. It did not fetch the highest estimate, but was still able to deliver according to expectations, selling for €775,625 ($944,000) at the RM Sotheby's Paris event. Lamborghini calls this a record price for an RM Sotheby’s auction and a victory for Lamborghinis with a troubled history.
Said victory is a testament to the Lamborghini Polo Storico program's work, which oversaw and certified the restoration of this particular item. The program, launched in 2015, is responsible for preserving the storied carmaker's heritage, including restoration of items with historical importance. Only 157 Periscopicas (also known as Periscopios or Periscopas) were made between 1974 and 1977, so preserving running models is a must.
“This is a pleasing but not surprising result, since it confirms a clear trend,” Paolo Gabrielli, Head of Aftersales at Automobili Lamborghini, which oversees the Polo Storico, says in a statement. “Historical Lamborghinis are of increasing interest to the world's leading collectors, who are looking for the utmost respect for originality in their cars.”
Over the years, the LP400 chassis no. 1120262, which started out in right-hand configuration with Rosso paintwork over a Tobacco interior, was heavily modified. In 2002, when the second owner acquired it, it was a left-hand drive, had a new engine, had had the roof removed and a new paint job, new wheels, new interior, and a wider body by Albert Mardikian Engineering.
It was brought back to factory spec starting in 2013, so the as-new LP400 was expected to fetch between €750,000 and €900,000 ($912,510-$1.1 million), celebrity provenance and all. It did not fetch the highest estimate, but was still able to deliver according to expectations, selling for €775,625 ($944,000) at the RM Sotheby's Paris event. Lamborghini calls this a record price for an RM Sotheby’s auction and a victory for Lamborghinis with a troubled history.
Said victory is a testament to the Lamborghini Polo Storico program's work, which oversaw and certified the restoration of this particular item. The program, launched in 2015, is responsible for preserving the storied carmaker's heritage, including restoration of items with historical importance. Only 157 Periscopicas (also known as Periscopios or Periscopas) were made between 1974 and 1977, so preserving running models is a must.
“This is a pleasing but not surprising result, since it confirms a clear trend,” Paolo Gabrielli, Head of Aftersales at Automobili Lamborghini, which oversees the Polo Storico, says in a statement. “Historical Lamborghinis are of increasing interest to the world's leading collectors, who are looking for the utmost respect for originality in their cars.”