One may think that a used car as rare and as iconic as the Lamborghini Miura would sell the instant it hit the auction block, but unfortunately for singer Stamatis Kokotas, his 1969 Lamborghini Miura P400S failed to sell when it went under the hammer at a recent Coys Auction in London, England.
Although the above image may seem to show a battered and bruised Lamborghini Miura which would be unlikely to pass any safety inspection tests and would therefore be roadworthy, this particular unit is one of the rarest Miura’s ever produced due to the array of optional extras it has been fitted with.
It comes with electric windows, air conditioning (a rarity on cars this age), engraved air vents and a unique hear shift level and remarkably, most of these extras are in near mint condition as the interior has been preserved very nicely over the decades.
So let’s get the elephant out of the room, shall we? Why is the exterior so beaten up while the interior isn’t?
Well according to reports, the Miura remained in idle in the parking garage of the Athens Hilton for the better part of four decades and as a result, the exterior is literally falling apart. Nevertheless, this particular unit was expected to be one of the highest sellers at the Coys Auction and bidding for it eventually reached $483,210. However, this was short of the yet unknown reserve price and as a result, no sale took place.
It’s unclear if Kokotas will try and sell the car again, but we expect to see it shifting hands sooner than later.
This car was a present from Aristotle Onasis to Kokotas who was a top singer in the 70s and one of the best names in Athens night life that years! Also Mr Kokotas was a well known race driver!
Also, at some point the engine had a problem and was sent back to the factory for repairs but stayed there because the owner did not have the money to bring it back! It is unclear what happened to the engine!
Restore this car to is mint condition will cost like a brand new Benz saloon. With a reserve price not met with 485k $, buy this car to restore and sell it is actually not remunerative, so no investors are interested in it and seller have to wait for a lover that want to keep it in his garage.
The engine is now at Lamborghini museum and it is supposed to the auction house has contacted them in order to re-buy the engine and complete the car as a matching numbers classic. That would justify the reserve price beeing higher than 500k .