Steve McQueen's Ferrari - restored by T.O. man- to be auctioned today
By Nancy Needham nancy@theacorn.com

Two men have loved her with all their hearts.

Now she's for sale.

A 1963 Ferrari 250 GT Berlinetta Lusso, once owned by the late actor Steve McQueen and restored by Thousand Oaks resident Michael Regalia, is on the auction block today. Christie's will be in charge of auctioning the car at the Monterey Jet Center in Monterey.

"No one knows how much it will sell for. No one knows how to appraise it because of the Steve McQueen factor," Regalia said.

McQueen starred in movies that include the "Magnificent Seven" and "The Great Escape" in 1960 and 1963 respectively. Known for his love of cars, he's respected in the auto world, the professional restorer said.

"This event at Pebble Beach is like the Kentucky Derby of the car world," said Regalia's fiancee, Gaylynn Kramer.

If the elegant car didn't have the McQueen pedigree, it might be expected to sell for around $1 million, Regalia said.

He purchased it for under $100,000, and he didn't spend 4,000 hours restoring it to make a profit, he said.

After he completed the total restoration, he kept the car as his own for 10 years.

"I always wanted a Lusso, and it took a long time to get one," Regalia said.

Even an old one that needs work costs a lot because many owners don't want to part with them. This car was a cosmetic redo, he said. It ran well.

It took him two years of negotiation with the previous owner before he secured it, Regalia said.

Once Regalia owned the car, he took it completely apart- down to the bare tub, he said. The tub is the bare body shell.

He took the shell apart and began perfecting the lines of the body of the sleek, curvaceous automobile.

"The metal work alone took over a year," Regalia said.

Then there was the matter of what color to paint it. He decided to leave it the original burgundy color McQueen chose when he ordered the car, perhaps because the two men agreed the car was more of an elegant machine than a racy sports car that would usually take a brighter color such as red.

The work of love included upholstery, suspension, wiring and subcomponents such as the starter, ignition, water pump and generator.

When it was done, Regalia was pleased.

"It was a little better than when Steve McQueen ordered the car," he said.

That's because a factory wouldn't possibly be able to put the detail into every tiny particle of the car like Regalia can- unless they hired someone who loves cars, has talent and is willing to put his heart and soul into each project as if it were his own vehicle.

Regalia began restoring cars as a teenager in a custom shop and found a way to start his own company.

"I wanted to be a car designer," he said.

Then he began working as a car restorer for The Nethercutt Collection. He rose through the ranks and became president. Now he owns Regalia Concours Restorations.

His Lusso has won prestigious awards across the country. Christie's displayed it at Rockefeller Center in New York City, and celebrities such as Mick Jagger showed interest.

"We've gotten interest from as far away as China," Regalia said.

It took a year for Regalia to make the difficult decision to let his car go, but like a proud father he decided to do what was best for the Lusso.

"I wanted it to be in a place it deserved to be in, like a museum or with another famous person to add to its pedigree- not just in my garage."