Bonhams’ Auction: 1981 Lamborghini Countach LP400 S

Tony’s Take: 1981 Lamborghini Countach LP400 S lowbody with 3852 miles on the clock – one of 237 cars equipped with the 4.0-liter engine and one of 105 Series 2 cars built. This is one of the most desirable Countach specs money can buy. What’s not to love? To paraphrase Fiddler on the Roof, condition . . . CONDITION!

Check out the [not so great] pics. More importantly, read Bonhams’ detailed description of service and repairs over the last 33 years. Oh wait . . . there isn’t any.

The owner’s had it since 1989. The only safe approach for a prospective buyer: assume the he/she/they have done bupkis to keep the Countach in top condition.

That’s understandable. For a long time, Countaches weren’t worth much money. Sellers were lucky to get high five-figures, never mind six. At the same time, service, repairs and restoration cost just as much as it does now (adjusted for inflation).

It’s only been in the last couple of years that the right Lamborghini Countach has become a million dollar collector car.

H-h-h-h-h-hold it! Again, this Series 2 lowbody 1981 Lamborghini Countach LP400 S is a money pit.

Think twenty large for interior restoration, twenty for the exterior, fifty for an engine-out service, twenty for parts and another twenty for surprises. Add a bunch more for labor. Would you believe me if I said that’s the best worst case scenario?

There are two ways to approach this 1981 Lamborghini Countach LP400 S: as a long-term labor of love or a long-term flip.

Either way, it’s gonna take a lotta love to get this Series 2 lowbody up to snuff. Time too. Two years? In two years, this Lambo will be worth all of a million. So here’s the million dollar question: how much for this car?

Lamborghini Countach LP400 S – Last Three Sales

Lamborghini Countach LP400 S – Highest, Lowest, Average

Figuring the costs described above, this rare Countach is a great buy if it’s bought under $450k. Yes but . . .

Based on the last three sales, taking into account miles and condition, Bonhams auction prediction ($330k – $400k) seems light by 25 percent.

I think this car will hammer at $500k to $550k with fees. With Countach mania running wild and the top of the market remaining strong, I wouldn’t be shocked if it did sixes. Downside: Buy it for six, spend two-hundred-plus over two years, sell it for a million? Doable, but better you than me.