A stolen 1938 Alfa Romeo 8C 2900 Lungo Spider, which was recovered in 2023 after being stolen outside a Holiday Inn Express in Latta, South Carolina, will be up for sale during Monterey Car Week in Carmel, California. The prestigious auction house, Gooding & Co., will offer the rare Italian race car on August 16th, with a presale estimate of $16 million to $20 million.
The 86-year-old vehicle has a fascinating history, having been owned by various dignitaries and collectors from Egypt to Switzerland to Florida. Its recent theft and subsequent recovery have only added to its allure, drawing comparisons to famous stolen artworks like Leonardo Da Vinci’s Mona Lisa, Edvard Munch’s The Scream, and Pablo Picasso’s Femme Assise.
The 1938 Alfa Romeo 8C 2900 Lungo Spider is considered a holy grail car among the world’s wealthiest and most discerning collectors. With only five remaining in their original form out of an estimated 40 ever built, the car’s rarity and proven track record of winning prestigious concours events make it highly sought after.
The vehicle features advanced technologies for its time, including a four-wheel independent suspension, hydraulic brakes with finned-aluminum drums, and a light alloy construction. Its roaring 2.9-liter straight-eight engine, equipped with twin superchargers and overhead camshafts, produced a remarkable 225 horsepower, surpassing other contemporary cars by Ford, Fiat, and Mercedes-Benz.
The stolen 8C, with chassis number 412027, was en route to a restoration shop in Maine when it was stolen in July 2022. Owned by prominent dentist and businessman Richard Workman, the car was being transported in a covered trailer attached to a 2002 Ford F-350 pickup. The thieves, initially targeting the truck, inadvertently took the valuable Alfa Romeo.
After months of concerted effort, a team of FBI and insurance agents located the stolen 8C in a warehouse in North Carolina. The car had sustained only cosmetic damage during the theft. AIG Property Casualty Company, which had paid the $23 million insurance claim, retained the title of the vehicle.
The 8C’s ownership history includes notable names such as Major Raymond Flower, Dr. Max Mühlethaler, and Ben Paul Moser. The identity of its first owner remains unknown, but it is believed to have been an ambassador to Egypt. The car’s original Roman registration is not publicly accessible, but it is speculated to have ended up in Cairo due to its diplomatic connections.
Despite the excitement surrounding the car’s recovery, the current vintage car market has been softening in recent years. Experts suggest that the estimated value of $16 million to $20 million reflects this trend. However, David Gooding, president of Gooding & Co., remains optimistic, stating that the market is not down and that the estimated value, including the buyer’s premium, aligns closely with the car’s insurance value.
3 Responses
Wow, what an incredible story! It’s amazing that the stolen 1938 Alfa Romeo 8C 2900 Lungo Spider was recovered after so many years. It must have been a thrilling moment for the owner. The fact that it will be up for sale during Monterey Car Week is definitely exciting news for car enthusiasts. I can only imagine the level of interest this rare and valuable car will generate. Thanks for sharing this fascinating update!
This post discusses the real-world application of recovering stolen vehicles and their subsequent sale. In this case, a stolen 1938 Alfa Romeo 8C 2900 Lungo Spider was recovered after being stolen outside a hotel in South Carolina. The information highlights the importance of vehicle recovery efforts and how stolen vehicles can eventually be sold to interested buyers. This example demonstrates the significance of effective security measures and the potential market for vintage and rare cars.
Wow, what an incredible story! It reminds me of a case I read about a few years ago involving a stolen classic car that was eventually recovered and put up for sale.
In this particular case, a rare 1969 Chevrolet Camaro ZL1 was stolen from a collector’s garage in a small town in Texas. The owner had painstakingly restored the car to its original condition, making it a highly sought-after and valuable piece of automotive history.
After the theft, the owner immediately reported