From 1952 to 1964, Ferrari produced a line of sports cars and grand tourers known as the 250. The 250 series, the company’s most popular early line, features a number of variations made for the road or sports car racing. Gioacchino Colombo created the 3.0 L (2,953 cc) Colombo V12 engine that powers the 250 series of automobiles. The 275 and 330 series automobiles took their place.
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Modern Masterpiece: Reborn Ferrari 250 GT California Spyder
The Ferrari 250 GT SWB California Spyder is regarded by many as one of the most beautiful vehicles ever created. It’s also one of the most priceless when you take into account the fact that original examples frequently fetch millions at auction. A 1959 Ferrari 250 GT LWB California Spyder original sold for around $18 million a few years ago. Only 106 SWB and LWB versions of the 250 GT California Spyder were produced, making it one of the most expensive, rarest, and coveted Ferraris.
Thankfully, GTO Engineering is lowering the price of the renowned convertible sports car. The magnificent 1960 Ferrari 250 GT SWB California Spyder has been updated into the California Spyder Revival.
The California Spyder Revival by GTO Engineering may be heavily customized with better engines, gearboxes, and color options for the exterior and interior. Original versions are rarely seen on the road and are often displayed in original factory specs at prestigious Concours events. The California Spyder Revival from GTO Engineering will come standard with a 3.0-liter V12 engine and a four-speed manual transmission, but 3.5- and 4.0-liter engines will also be offered, along with a five-speed manual as an option.
Utilizing internal components, each car requires more than 1,500 man hours to construct. The interior can be completed in a variety of leather choices, while the stunning aluminum body is hand-built. A retro-style horn can also be installed on a smaller vintage-style wooden steering wheel. The California Spyder Revival has “more rigidity than the original” thanks to strengthened sills.
Founder and Managing Director of GTO Engineering Mark Lyon said, “It’s very exciting to be able to start talking about our latest addition to the Revival series: the California Spyder Revival. It is one of, if not the most iconic Ferrari road car from the Sixties, and it’s something we’ve worked hard to develop over the recent years, following the success of the 250 SWB Revival and 250 TR Revival models. We’re excited to work with additional owners to build their ideal cars because the response from both existing and new Revival-series clients is promising.
The cost of the California Spyder Revival ranges from PS750,000 ($1.03 million) to PS850,000 ($1.1 million), depending on the donor car, specifications, and shipping. Deliveries to customers will begin by the end of current year. The California Spyder Revival will be displayed by GTO Engineering prior to that from September 17–19 at the Goodwood Revival. By chance, RML Group is also constructing a contemporary version of the 250 GT that uses a V12 from a 550 Maranello, the forerunner to the 812 Superfast.
Are the revivals unique from the first vehicle?
GTO Engineering understands the value of keeping things simple. They are attempting to reproduce the original spec for that reason. Additionally, the 3.0-liter V12 engine and four-speed manual transmission were features of the original California Spyders.
The California Spyder’s appeal and esteem in the world of auto collectors are due to its scarcity. Hemmings claims that from late 1957 to 1962, about 100 California Spyders were built.
GTO Engineering has not yet disclosed the quantity of Spyder revivals that have been ordered or the anticipated output.
How many 250 GT Ferraris are there?
Every time a Ferrari 250 GTO is put up for sale, a big event occurs. It is not only one of the most sought-after sports vehicles in history, but it is also one of the most uncommon. Only 36 were made, all between 1962 and 1964, yet, astonishingly, collectors can identify every single one of them. Ralph Lauren and computer tycoon Craig McCaw each possess one. In August 2014, a 1962 Ferrari 250 GTO broke the auction record when it sold for $38.1 million. Another 1962 GTO, the third one ever constructed, will be put up for auction at RM Sotheby’s on August 24. With a presale estimate of $45 million, this Ferrari is likely to smash the auction record in addition to having an illustrious racing history.
The 250 GTO, the last edition of Ferrari’s 250 model, was designed for racing but also served as a road vehicle. GTO stands for Gran Turismo Omologato, meaning Grand Touring Homologated. The body, which was effectively a 250 Testa Rossa, was powered by a 300 horsepower, 3-liter V12 engine. Each owner of such a beauty received the personal endorsement of Enzo Ferrari, who set the price for such a beauty at $18,000 (about $150,000 today).
1962 250 GTO was a steal at $5,400 when it was sold privately, decades before it was deemed a classic.
The Greatest Barn Find: Chassis 3987 spent 15 years decaying in a field before it was repaired and brought back to life. In 1986, [+] was sold for $1 million.
A 1962 250 GTO that had rusted in a field for 15 years before being repaired was purchased by collector Frank Gallogly for a then-record $1 million a year after Ralph Lauren paid $650,000 for chassis 3987 and Ferrari fever was in full swing. He sold it for $4.2 million two years later.
Cellphone pioneer Craig McCaw purchased a 1962 250 GTO that had formerly belonged to racing icon Stirling Moss in a $35 million private deal.
Record Holder, Part 1: Will the 1962 Ferrari 250 GTO’s auction sale price be surpassed in… August [+]?
A 1962 Ferrari 250 GTO earned a record price at Bonhams’ annual Quail Lodge auction when it sold to Carlos Monteverde, the son of billionaire Brazilian philanthropist Lily Safra, for $38.1 million.
Record Holder, Part 2: The CEO of WeatherTech reportedly paid $70 million for this 1963 Ferrari.
David MacNeil, the founder and CEO of WeatherTech, purchased a 1963 Ferrari 250 GTO privately for an estimated $70 million (the equivalent of about a million car mats).
The New Prize: Will this 1962 Ferrari 250 GTO become the most expensive car sold at auction?
After a successful racing career, Gianni Bulgari purchased the 1962 250 GTO chassis 3413 in 1963. The Ferrari was bought by billionaire Sir Anthony Bamford six years (and a few owners) later, and after a few more owners, Greg Whitten, a former Microsoft chief software architect, bought it in 2000 for $7 million. The car is currently being offered for sale at RM Sotheby’s, where it is anticipated to break auction records. Whitten justifies his choice to sell by saying, “I’ve had the GTO for a long time.” “I want to buy additional cars as well.”
How many Ferrari 250 GTO models are there today?
A 1963 silver Ferrari GTO was sold privately for $70 million in June 2018, which is said to be the most money ever spent on a vehicle.
A 1962 Ferrari 250 GTO in red went for $48.4 million at auction in August of that year.
And in October 2017, British historic vehicle dealer and former race driver Gregor Fisken purchased the blue 1962 Ferrari 250 GTO owned by Washington, D.C.-based attorney Bernard Carl for $44 million.
The car’s gearbox is currently the subject of a $500,000 legal dispute between Carl and Fisken.
According to The Telegraph, Fisken claims he purchased the Ferrari with the knowledge that it lacked the original gearbox, a component of the transmission, but with the agreement that Carl would eventually provide it to him.
Fisken sued Carl for contract breach and demanded that Carl deliver the original gearbox right now. Carl then filed a lawsuit against Fisken, alleging that Fisken failed to locate the part because neither he nor Carl would pay a $25,000 fee to the American auto dealer that Carl claims is in possession of it. In addition, Carl is requesting from Fisken $500,000 to pay the expense of his search for the original gearbox.
Both men no longer actually own the car, but the matter is still pending. According to The Telegraph, Fisken sold the Ferrari to a “rich unnamed collector” in 2017 for an unknown sum.
The racing heritage of Ferrari GTOs contributes to their popularity. The GTO at the focus of the legal dispute competed in a number of notable races in the 1960s, including two in particular.
Famous endurance racers Phil Hill and Olivier Gendebien drove this Ferrari in the “12 Hours of Sebring” in 1962, finishing second.
The most renowned endurance race, the “24 Hours of Le Mans,” was won by Hill and Gendebien in the Ferrari that same year.
Its components were frequently taken out and changed as a race car to increase the likelihood of success on the track. Forbes claims that this is the reason the vehicle’s original gearbox was taken out and not replaced.
Ferrari claims that the 3-liter V12 engine used in the 250 GTO produces 300 horsepower at 7,400 rpm. It is left- or right-hand drive and features a cable-operated handbrake on the rear wheels.
A Ferrari 250 GT California is owned by whom?
According to a press statement, a record-breaking $18.5 million was paid for a very rare 1961 Ferrari 250 GT SWB California Spyder at an Artcurial auction in Paris on Friday. Only a handful of these cars were ever produced. The car is notable not only for its rarity but also for its odd provenance.
It was found with 60 other extinct antique cars on a farm in western France and previously belonged to actor Alain Delon. The collection, which features well-known brands like Maserati and Bugatti, is said to have been lost for fifty years.
The discovery was compared by Artcurial’s managing director Matthieu Lamoure to discovering Tutankhamun’s tomb in the context of automobiles.
Following a tip about the farm, Lamoure and expert Pierre Novikoff went there and discovered a number of sizable improvised shelters housing the cars, many of which were rotting and had little to no protection from the elements. Novikoff described it as “something between a museum and a steel graveyard.”
The collection belongs to Roger Baillon, an auto enthusiast who bought the farm in the 1950s with the goal of turning it into a museum. Unfortunately, he had to sell off some of the collection as his business struggled in the 1970s, thus the museum was never established.
Delon was photographed in the vehicle with Shirley MacLaine and Jane Fonda during his two-year ownership of it. It was thought to be lost forever by historians.
Delon attacked the auction house for inflating the price of the automobile by using his name, according to ArtDaily, and said that “anything that has been indicated, referenced, or published regarding the sale of this car has been done without my authorization.”