A Rare Chance for Ferrari Aficionados to Own a Classic Model With Virtually No Miles
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A Rare Chance for Ferrari Aficionados to Own a Classic Model With Virtually No Miles

By Jim Motavalli
Wed, Oct 11, 2023 7:54amGrey Clock 3 min

If you like your Ferrari purchases to have only delivery miles on them, this sale might be for you.

What RM Sotheby’s is calling the Factory Fresh Collection includes 17 Ferraris, many barely driven, as well as a rare Jaguar XJ220 supercar, a highly desirable E-Type roadster, and a Bentley Turbo R Drophead Coupé. The auction takes place at Marlborough House in London on Nov. 4, coinciding with the famous London to Brighton run for pre-1905 veteran cars the next day.

Pride of the Factory Fresh collection is this 1994 Ferrari 512 TR Spider with just 570 kilometers recorded.
OneSavage/sgcarshoot, courtesy of RM Sotheby’s

The star of the collection is probably the 1994 Ferrari 512 TR Spider, just one of three built that year, and the only one in its combination of Blu Cobalto paint and Blu Scuro Connolly leather interior. The odometer shows just 570 kilometres (354 miles). In keeping with the as-delivered theme, the car comes with its service book, technical manual, and a spare key. Provided it’s been serviced for the road, the owner will in effect be getting a new car. The estimate is £2.1 million to £2.7 million (US$2.56 million to US$3.3 million).

“This a truly remarkable collection,” Peter Haynes, RM Sotheby’s marketing and communications director for Europe, the Middle East, and Africa (EMEA), tells Penta. “There are some very rare cars in their own right, but the standout feature across the majority of the cars is the very low mileage—barely driven in some cases. My personal highlights include the 1994 Ferrari 512 TR Spyder which is one of just three in existence, in addition to the 1992 Ferrari Mondial T, which reads a hardly believable one kilometre on the odometer.”There are two other 512 TRs in the collection, a 1992 (also blue) and a second 1992 in U.K. specification (right-hand drive) with only 3,904 miles recorded. The first of these has a high estimate of £275,000 and the second £320,000.

The 1990 Ferrari Testarossa has just 161 kilometres on the odometer.
Courtesy of RM Sotheby’s

The 1990 Ferrari Testarossa has a surreal 160 kilometres, and is one of just 438 built in right-hand drive. The high estimate is £200,000. The 2001 Ferrari 550 Barchetta Pininfarina (high estimate £350,000) was one of 48 built with drive on the right side, and has traveled only 220 kilometers. One of the two 2008 599 GTB Fioranos has covered only 267 kilometers—making it one of the lowest-mileage in existence. Its high estimate is £180,000.

The Bentley Turbo R Drophead is a performance-oriented convertible.
Robert Cooper, courtesy of RM Sotheby’s

Other Ferraris in the collection with their recorded mileage: 1994 Mondial T Coupé (one kilometre); 1992 348 TS (130 kilometres); a second 1992 348 TS (179 kilometres); 2007 F430 (104 kilometres); 1994 348 GTB (181 kilometres); 1983 400i (2,743 miles). A highly admired earlier Ferrari is a numbers-matching 1973 Dino 246 GTS by Scaglietti. Its high estimate is £450,000.

The 1993 Jaguar XJ200 two-seater is one of very few built.
(sgcarshoot, courtesy of RM Sotheby’s)

Non-Ferraris include a very rare 1993 Jaguar XJ220, one of 282 produced. In keeping with the sale, it shows only 46 miles on the odometer. It’s been recently recommissioned for spirited driving, and is high-estimated at £425,000. A 1969 Jaguar Series 2 E-Type Roadster is also being auctioned, as is a 1991 Bentley Turbo R Drophead Coupé. The Bentley convertible, which is just out of extensive refurbishment by London specialist P&A Wood, has a high estimate of £475,000.

Buyers have the choice of keeping these cars in the garage—and preserving their low-mileage status—or forgetting about all that and driving them with alacrity.



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Greenland Is Gorgeous and Uncrowded. Now Here Come the Americans.

The remote northern island wants more visitors: ‘It’s the rumbling before the herd is coming,’ one hotel manager says

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Wed, Oct 23, 2024 4 min

As European hot spots become overcrowded , travellers are digging deeper to find those less-populated but still brag-worthy locations. Greenland, moving up the list, is bracing for its new popularity.

Aria Varasteh has been to 69 countries, including almost all of Europe. He now wants to visit more remote places and avoid spots swarmed by tourists—starting with Greenland.

“I want a taste of something different,” said the 34-year-old founder of a consulting firm serving clients in the Washington, D.C., area.

He originally planned to go to Nuuk, the island’s capital, this fall via out-of-the-way connections, given there wasn’t a nonstop flight from the U.S. But this month United Airlines announced a nonstop, four-hour flight from Newark Liberty International Airport in New Jersey to Nuuk. The route, beginning next summer, is a first for a U.S. airline, according to Greenland tourism officials.

It marks a significant milestone in the territory’s push for more international visitors. Airlines ran flights with a combined 55,000 seats to Greenland from April to August of this year, says Jens Lauridsen, chief executive officer of Greenland Airports. That figure will nearly double next year in the same period, he says, to about 105,000 seats.

The possible coming surge of travellers also presents a challenge for a vast island of 56,000 people as nearby destinations from Iceland to Spain grapple with the consequences of over tourism.

Greenlandic officials say they have watched closely and made deliberate efforts to slowly scale up their plans for visitors. An investment north of $700 million will yield three new airports, the first of which will open next month in Nuuk.

“It’s the rumbling before the herd is coming,” says Mads Mitchell, general manager of Hotel Nordbo, a 67-room property in Nuuk. The owner of his property is considering adding 50 more rooms to meet demand in the coming years.

Mitchell has recently met with travel agents from Brooklyn, N.Y., South Korea and China. He says he welcomes new tourists, but fears tourism will grow too quickly.

“Like in Barcelona, you get tired of tourists, because it’s too much and it pushes out the locals, that is my concern,” he says. “So it’s finding this balance of like showing the love for Greenland and showing the amazing possibilities, but not getting too much too fast.”

Greenland’s buildup

Greenland is an autonomous territory of Denmark more than three times the size of Texas. Tourists travel by boat or small aircraft when venturing to different regions—virtually no roads connect towns or settlements.

Greenland decided to invest in airport infrastructure in 2018 as part of an effort to expand tourism and its role in the economy, which is largely dependent on fishing and subsidies from Denmark. In the coming years, airports in Ilulissat and Qaqortoq, areas known for their scenic fjords, will open.

One narrow-body flight, like what United plans, will generate $200,000 in spending, including hotels, tours and other purchases, Lauridsen says. He calls it a “very significant economic impact.”

In 2023, foreign tourism brought a total of over $270 million to Greenland’s economy, according to Visit Greenland, the tourism and marketing arm owned by the government. Expedition cruises visit the territory, as well as adventure tours.

United will fly twice weekly to Nuuk on its 737 MAX 8, which will seat 166 passengers, starting in June .

“We look for new destinations, we look for hot destinations and destinations, most importantly, we can make money in,” Andrew Nocella , United’s chief commercial officer, said in the company’s earnings call earlier in October.

On the runway

Greenland has looked to nearby Iceland to learn from its experiences with tourism, says Air Greenland Group CEO Jacob Nitter Sørensen. Tiny Iceland still has about seven times the population of its western neighbour.

Nuuk’s new airport will become the new trans-Atlantic hub for Air Greenland, the national carrier. It flies to 14 airports and 46 heliports across the territory.

“Of course, there are discussions about avoiding mass tourism. But right now, I think there is a natural limit in terms of the receiving capacity,” Nitter says.

Air Greenland doesn’t fly nonstop from the U.S. because there isn’t currently enough space to accommodate all travellers in hotels, Nitter says. Air Greenland is building a new hotel in Ilulissat to increase capacity when the airport opens.

Nuuk has just over 550 hotel rooms, according to government documents. A tourism analysis published by Visit Greenland predicts there could be a shortage in rooms beginning in 2027. Most U.S. visitors will stay four to 10 nights, according to traveler sentiment data from Visit Greenland.

As travel picks up, visitors should expect more changes. Officials expect to pass new legislation that would further regulate tourism in time for the 2025 season. Rules on zoning would give local communities the power to limit tourism when needed, says Naaja H. Nathanielsen, minister for business, trade, raw materials, justice and gender equality.

Areas in a so-called red zone would ban tour operators. In northern Greenland, traditional hunting takes place at certain times of year and requires silence, which doesn’t work with cruise ships coming in, Nathanielsen says.

Part of the proposal would require tour operators to be locally based to ensure they pay taxes in Greenland and so that tourists receive local knowledge of the culture. Nathanielsen also plans to introduce a proposal to govern cruise tourism to ensure more travelers stay and eat locally, rather than just walk around for a few hours and grab a cup of coffee, she says.

Public sentiment has remained in favour of tourism as visitor arrivals have increased, Nathanielsen says.

—Roshan Fernandez contributed to this article.

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