Open Roads, June | Lot 164
1975 Lamborghini Urraco P250
$150,000 - $175,000 USD
| Stuart, Florida
23 - 30 June 2021
- One of 520 Urraco P250s produced
- Restored in the 1980s at the Lamborghini factory in Sant’Agata Bolognese under direction of famed factory test driver Valentino Balboni
- Most recent comprehensive restoration completed in 2018, totaling more than $98,000
- 2015 Houston Lamborghini Festival Best in Class Award
- 2018 and 2020 Palm Beach Cavallino Classic Excellence in Class Awards
- 2019 Palm Beach Concours Best of Italy Award
The Urraco was initially produced to fill a void in Lamborghini’s lineup below the Miura, squaring off against the Ferrari Dino and Maserati Merak. It has long been considered one of the most underrated performance cars to emerge from the hallowed Lamborghini works at Sant’Agata Bolognese in central Italy. It debuted at the 1970 Turin Salon and was penned by Bertone’s Marcello Gandini, who was best known at the time for the Miura, but whose status as a Lamborghini stylist was cemented with the Countach that followed.
Lamborghini created three versions the Urraco, all of which were powered by variants of the automaker’s small V-8 engine. At its debut, it featured the compact 2.5-liter unit in the P250, which was a figure that grew to the P300’s 3.0-liter unit in 1974. A 2.0-liter model, dubbed the P200, was created for the Italian market, where a higher tax was levied on larger-displacement engines.
This Urraco is one of the last P250 models manufactured, of which only 520 total were produced. The interior is from the later P300 series, as the factory was in transition to the newer model when it was built. It is said to have originally been delivered to a prince in Saudi Arabia. The second owner is believed to have acquired the car in 1976 and had it shipped to Tulsa, Oklahoma. In 1984, this owner had the Urraco sent to the Lamborghini factory in Italy for a full restoration under the direction of Valentino Balboni, the famous Lamborghini factory test driver, making it one of the most unique Urraco P250s in existence. Accompanying historical photos show the restoration process, which included rebuilding the engine, respraying the body, and upgrading the car with various amenities popular for the U.S. market, including air conditioning, power windows and mirrors, and a leather interior. A photo of Balboni himself behind the wheel of this car is included in the history file.
The third owner is believed to have acquired the car in 2014 and is said to have had the engine removed for a full service, along with having the steering rack rebuilt and the suspension refreshed. Fruit of those labors came in 2015 when the car won its class at the Lamborghini festival in Houston, where Balboni is said to have been reunited with the car after so many years.
The current owner acquired this Urraco in December of 2015. Despite it already being show-car quality, in early 2016, the owner commissioned Michaelian Restoration Inc., in Stuart, Florida, to undertake a comprehensive restoration that entailed stripping the vehicle down to bare metal, repairing all bodywork and imperfections, respraying to its factory orange-red finish, refinishing the black leather interior to factory spec, and meticulously refurbishing all mechanical components as necessary. Detailed service invoices indicate that the restoration was completed in July 2018 to the sum of more than $98,000.
Unsurprisingly, this lovingly cared for Urraco has since won various other awards, including the Excellence in Class award at both the 2018 and 2020 Palm Beach Cavallino Classic events, as well as the Best of Italy award at the 2019 Palm Beach Concours. It is accompanied by a spare, jack, tool kit with leather cases, service invoices, historical photos showing the earlier factory restoration, and awards trophies.