A red 1974 Ferrari Dino 246 GTS Spyder fetched $A291,000 (NZ$332,000) at auction in Melbourne, a price that experts forecasted weeks before the sale.
The car was one of only 242 right-hand-drive examples out of the 1274 Dino GTS models built, and and been owned by the same South Australian man for 32 years.
The car was first registered in France and arrived in Australia in the late 1970s. The Adelaide man bought it in 1981 when it had 50,000km on the clock. It was auctioned with a reading of 138,000km.
Restoration work over the past 32 years includes a repaint, retrimmed seats, engine rebuild, new exhaust system, and suspension overhaul.
The 246 GTS Spyder is one of the few performance cars worth as much or more in ‘targa roof’ configuration than as a fixed-roof coupe.
The mid-engined, rear-drive Dinos were built between 1968 and 1976, firstly designated 206 GT and using a 2.0-litre engine with 6 cylinders.
Next up was the 246 GT. The 246 designation was a contraction of a more powerful 2.4-litre engine with 6 cylinders. The targa top 246 GTS appeared late in 1971, weighing 1100kg.
Ferraris have brought record prices at major auctions in recent years, with a 1962 Ferrari 250 GTO selling for a world record $US52 million in the US last month.
A 1967 Ferrari 275 GTB/4 NART Spyder sold for $US27.5 million in California in August.
Auction house Shannons says Dino 246 GTS models have been selling in the United States for between $300,000-$400,000.
The Ferrari Dino first arrived in Australia around 1970, priced from around A$12,000.