by Michael Satterfield - 1/28/2022
RM Sotheby's made history at their Arizona auction this week, offering the first of its kind collector car with a Non-Fungable Token (NFT) package. The car is already an important piece of automotive history in its own right, the 1988 Cizeta-Moroder V16T owned since new by music producer and original Cizeta-Moroder investor Giorgio Moroder, broke new ground again when it sold for above the auction estimate.
The car, chassis number 001, was the first Cizeta ever built and the only one badged Cizeta-Moroder. Designed by Marcelo Gandini, who is also known for penning the Miura, Countach, Stratos, and countless other iconic cars, the Cizeta-Moroder was shown at the 1989 Los Angeles and Geneva Motor Shows, and the first of just ten cars that would be completed.
The winning bidder received the Cizeta-Moroder V16T and a one-of-one NFT that includes a four-track Giorgio Moroder music EP exclusive to the car, a 3-D artistic rendering of the car in collaboration with digital artist “Soulajit,” a 3-D scan of the car, as well as digitized provenance documentation. The car also came with extensive photos, period magazines, and documentation of the mechanical restoration work done by world-renowned restoration shop Canepa.
It is unclear if the NFT was a deciding factor for bidders, but being on the auction floor you could hear bidders discussing it, most of them wondering what the NFT was and how it worked. What is more interesting is that RM Sotheby's is now accepting several forms of Crypto Currency, including Dogecoin, while we don't know how the winning bidder paid for the car, it would be great if the first collector car NFT package ever sold at auction also was paid for by a meme coin.
The Cizeta Moroder V16T was estimated to sell for $900,000 to $1,200,000, the final bid was $1,363,500 and while this might have been the first NTF package sold with a collector car, I doubt it will be the last.
Watch the video below from the auction floor HERE.
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