The Elegance at Hershey Saturday, June 11th, 2016
Automobiles
LOT133
1968 Lamborghini 400GT 2+2 PHOTOGRAPHY BY Bill Pack
Estimate: $575,000 - $650,000 USD
  • 1968
  • Lamborghini
  • 400GT 2+2
  • 1183
  • 1256
  • Burgundy
  • Beige
  • Matching Numbers
  • Historical Documentation
  • Service History Included
  • Original Colors
  • Running Condition
  • Books / Manuals
  • Tool Kit

Stunning and Sorted Italian Touring

A beautiful, thoroughly sorted example of one of Ferruccio Lamborghini's early masterpieces. A very rare car and rarer still to find at this level of restoration and quality of finish. The current owner shipped 1183 to Florida, so he could drive it while attending the recent Amelia Island concurs and auctions. While it was there, “Mr. Lamborghini” himself, Valentino Balboni, who gave it a big thumbs up, also gave this amazing Gran Turismo a thorough run.

This Car’s Past

400GT serial number #1183 was manufactured October 17th 1967 and delivered new in Milano, Italy to dealer Lamborcar. Although we don't know when the car came into the US, we can trace the ownership history back to a 1973 registration document in the name of John Hall of Alabama. Mr. Hall traded or sold the car to David Heinz Imports in Alabama in 1974, who then sold it to Richard Johnson of Florida. Mr. Johnson owned 1183 until 1980 when he sold it to Kenneth Gould. Mr. Gould kept 1183 for 20+ years, as is evidenced by receipts from 1980 to 2001. Next it went to Maserati parts specialist Jacques di Pozzo Borgo, who had it for approximately six years and then sold it to Rick Botting of Las Vegas Nevada, owner of Total Fuel Systems and his own body shop. He had 1183 until 2014 when it was sold to Kenneth Sterne of G And S Motors, himself an avid Lamborghini enthusiast and collector.

History of The Model

Franco Scaglione designed the first 350 prototypes. Carrozzeria Touring who had to produce the design for series production heavily modified this. After 120 cars, the model was revised again by Touring into the 400 GT 2+2. This new model accommodated a rear set of seats that couldn’t fit in the original design. Touring had to pay considerable attention to increasing interior space without losing the 350 GT’s elegant proportions. The 400 GT is noticeably taller but very similar in proportion to the 350 GT. Paired headlights replaced the early-sculpted units, to comply with American safety regulations. To save production costs and increase durability, bodies were changed from aluminum to steel, with only the trunk and hood remaining aluminum. Attached to the new V12 was a Lamborghini-designed 5-speed transmission, which replaced the old ZF unit and had syncro rings on all five gears. The 400 GT 2+2 was released in March at the Geneva Motor Show and after two years of production the 400 GT, just fewer than 250 examples were made.

Restoration History

1183 was most recently cosmetically restored in 2009-2015. The previous owner, Rick Botting of Total Fuel Systems, Las Vegas Nevada, started the work. Prior to completion of a full cosmetic and mechanical restoration, Ken Sterne of Asheville, North Carolina purchased this car. The cosmetic restoration was completed under his supervision and 1183 then went to Ned Gallaher of Gallaher Restorations for minor mechanical sorting. Mr. Sterne then enjoyed this lovely 400GT as his driver for approximately one year. In November 2015, it was sent to world-renown Lamborghini guru, George Evans of Evans Automotive in Columbus Ohio for an “open checkbook” mechanical and electronic overhaul. Evans worked on 1183 for slightly over a year and absolutely sorted the car from head to toe, as can be seen in the sixteen-page $77,000 receipt for the work. There are also over 200 pictures documenting the work carried out. Upon it's return to North Carolina, 1183 was again cosmetically refreshed and then taken to Amelia Island to be shown off in the best way possible, as Mr. Sterne's driver for the week.

Market Trend

Having reached the dizzying heights of nearly $900,000 in 2014 ($869,000 Gooding, Pebble Beach) the 400GT's, like most Italian cars of this era have settled back down and have regained a slow and steady appreciation. Most recent sales include $522,500 (Gooding, Pebble Beach 2015) for a car which Sports Car Market rated as a “4-” and $682,000 (Gooding, Scottsdale 2015) for a similarly colored example, but rated by SCM as a “3-” for a car described as “spent most of it's life in Japan... A driver-level car with thick, cracked paint. Slightly worn interior with nice patina. Detailed engine bay.”

Summary

A truly stunning 400GT with extensive receipts dating from 1980 to February this year and documented ownership from 1973 to present. Lamborghini 400GT #1183 offers a unique opportunity to own a real piece of Lamborghini history. It's been completely sorted by the best in the business and ready for the most demanding rally, road trip or concours event. You'd be very hard-pressed to find a better one and at the low-estimate, a steal!

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