You can get an idea of how much it actually costs to join this extravagant club by looking at some of the prior sales of GTOs during the past ten years. Chris Evans, a boisterous and animated British DJ and TV host, paid $17.7 million for a 250 GTO at RM Auctions in 2010.
One was purchased for $31.7 million by an unnamed buyer from a UK real estate agent in 2012. Craig McCaw, an American Telecoms typhoon, also bought one privately that year for $25 million to add to his collection of more than 400 vehicles. The following year, a GTO changed hands for a cool $52 million in another private transaction.
Then, in 2014, one of these incredibly sought-after vehicles was sold at auction by Bonhams for a second time, this time for $52 million. Three years later, former race car driver and antique car dealer Gregor Fisken paid $44 million to become a member of the exclusive GTO club.
If some of the aforementioned figures have you struggling for breath now, the events that occurred in 2018 will shock you even more. Because in same year a guy by the name of David MacNeil from Chicago, USA, the creator of the automobile accessory company WeatherTech, paid an eye-popping $70 million for a silver 1963 Ferrari 250 GTO (chassis number #4293GT). the most money ever spent on an automobile.
Let’s quickly review some of the items you could buy with $70 million (not including charity gifting or using the money to make the world a better place). You could purchase a 3,000-acre island in the South Pacific (close to Fiji) if you want some peace and quiet to unwind on and top off your tan. You could also purchase Richard Branson’s Caribbean Mansion on the gorgeous Necker Island if you’re interested in real estate. If you want to make some extra money, you can rent it out for $42,000 per night.
Or, if you’re a fan of football and would like to build your own stadium, you could design the seating yourself to ensure that you get the greatest seat in the house at every game. The immaculate 60ct Pink Star diamond, which comes from a South African mine, is also an option if you enjoy wearing jewelry. It would make a great addition to your home. You can also opt to direct and produce your own Hollywood hit if you enjoy watching movies. You could give yourself the lead role and the headlines, and you could even pick your co-star. What a wonderful idea that is!
In all honesty, it appears that the value of historic cars has increased significantly in the last few decades. First, there were significant increases in the 1980s, which were followed by significant decreases in the 1990s. A 250 GTO sold for only $2.7 million in 1994, and prices didn’t start to rise again until the late 1990s. They are still increasing today, and they are rising so quickly.
When will it end, is the obvious question. Or is it more conceivable that one of these expensive, rare Italian automobiles will soon be sold (Grimace) for $100 million?
What is it about this ancient, no-frills Italian race car that appeals to people so much?
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As of recently, this Ferrari was the most expensive vehicle ever sold.
- According to sources, David MacNeil, the creator of WeatherTech, purchased the vehicle from a German collector.
Sources claim that a 1963 Ferrari just sold for $70 million, which is reportedly the most money ever paid for a vehicle.
The 1963 Ferrari GTO, one of just 36 produced, was sold in a private transaction, according to Marcel Massini, the foremost authority on Ferrari collectibles. According to sources, David MacNeil, the inventor of WeatherTech, the manufacturer of automotive floor mats, purchased the vehicle from a German collector.
Previously, in 2013, a 1963 Ferrari GTO sold for $52 million, setting the record high price for a vehicle.
In the realm of auto collecting, Ferrari GTOs are prized for their rarity, strength, beauty, and racing prowess. In 2014, a 1962–1963 GTO brought $38 million at auction in California.
According to Massini, MacNeil’s $70 million GTO finished fourth at Le Mans and won the illustrious Tour de France in 1964. It has a silver and yellow paint job and, unlike many other GTOs, has never been in an accident despite having a winning track record.
Requests for comment from MacNeil did not immediately receive a response. But according to insiders, he is already an enthusiastic Ferrari collector who owns many high-end vehicles. With a GTO, he will join the “GTO Club,” an exclusive group of billionaires and multimillionaires who own what is widely regarded as the greatest Ferrari ever produced. Ralph Lauren, fashion magnate Lawrence Stroll, and Walmart heir Rob Walton are members of the club.
Since there are more millionaire Ferrari collectors, but fewer buyers ready to part with their high-quality GTOs, Massini expects that GTO prices will continue to rise.
In the next two to three years, “we will see a GTO sell for $100 million,” he said. “I am fairly certain.”
When you can create one, why spend millions?
What is the world’s priciest automobile? When it comes to new price tags, the Rolls-Royce Boat Tail holds the top spot. It is said to have a sticker price of $28 million. However, the Bugatti La Voiture Noire formally wins the award, with a declared list price of $18.7 million.
However, the combined price of the two European exotics isn’t comparable to what a 1963 Ferrari 250 GTO demanded. The Italian classic’s chassis number 4153GT was purchased by David MacNeil for $70 million in a private transaction in 2018, effectively becoming the 250 GTO the most expensive automobile in the world. That shouldn’t be a surprise considering that there were only 36 nameplates ever produced.
Who drives an automobile worth $70 million?
A Ferrari 250 GTO sold for the then-record-breaking sum of $52 million back in 2013, breaking all previous records for car purchases. On June 1st, another 1963 250 GTO, of which only 39 were made, sold for a tidy sum of $70 million USD, breaking the previous record.
WeatherTech president David MacNeil, a devoted racing fan and auto collector, purchased the 250 GTO. Cooper MacNeil, his son and a professional race car driver, will compete in this year’s 24 Hours of Le Mans while operating a Ferrari 488 GTE.
It is understandable why a Ferrari aficionado like David MacNeil would choose to invest such a staggering sum in the Ferrari 250 GTO. The word “invest” is appropriate because it won’t be long before another Ferrari 250 GTO is sold for a higher price.
Christian Glaesel, a German car collector, owned the vehicle that was sold. With Lucian Bianchi and Georges Berger serving as the car’s co-pilot and pilot, respectively, it competed in the 1964 Tour de France Automobile and took first place. This 1963 version of the vehicle bears the chassis number 4153 GT. In the GT division, the two drivers competed for the Ecurie Nationale Belge team. The vehicle competed in the 1963 24 Hours of Le Mans as well, finishing fourth. Over the next two years, it continued to compete in a lot more races. Amazingly, it never had an accident, which was at the time a small miracle.
Paying $70 million for an automobile is absurd to the average person. However, this sort of arrangement requires a different perspective. In particular, the 250 GTO model, powered by a V12 engine, is regarded as the pinnacle of Ferrari’s long history, on par with a great painter’s most renowned creation. Due to its mystique and the fact that just 39 of the 250 GTOs were made, its value has increased dramatically.
The car will be kept in the buyer’s private collection and will appreciate in value over time, much like a wise investment.
What Ferrari is the most expensive?
- Jo Schlesser raced a red 1963 Ferrari 250 GTO in 1960, which was auctioned for $52 million in 2013.
- With a sale price of $70.2 million, another Ferrari 250 GTO in silver blue was the most expensive automobile ever.
Who purchased a 250 GTO Ferrari?
Gran Turismo Omologato, which translates to “Grand Touring Homologated” in Italian, stands for the displacement in cubic centimeters of each of its cylinders. The number “250” in the name signifies this.
Of the 250 GTOs, only 36 were produced between 1962 and 1964. This contains three 1964 Series II cars and 33 Series I vehicles with bodywork resembling the Ferrari 250 LM from the years 1962 to 1963. Four of the older 1962-1963 (Series I) automobiles were upgraded in 1964 with Series II bodywork.
The 250 GTO originally cost $18,000 in the United States, and Enzo Ferrari and his dealer in North America, Luigi Chinetti, personally authorized buyers.
[Reference needed] Since then, this model has grown in popularity among car collectors, and sales have frequently shattered price records. In June 2018, the 1963 250 GTO (chassis 4153GT) that now holds the record for the most expensive Ferrari was sold in a private transaction for $70 million.
The 250 GTO was recognized as the best sports vehicle of all time by Sports Car International in 2004 and ranked ninth on a list of the Top Sports Cars of the 1960s. The 250 GTO was ranked first on a list of the “Greatest Ferraris of All Time” by Motor Trend Classic. It was dubbed the “Hottest Car of All Time” by Popular Mechanics.
The 1963 Ferrari GTO is quite pricey, why?
Given how few were produced by the Italian company, the Ferrari 250 GTO is so pricey. During a brief production cycle from 1962 to 1964, only 36 were produced.
These sports vehicles were created for on-track competition in the FIA’s Group 3 class. The Ferrari 250 GTO had an exceptional track record during its prime because to such design. It became an icon after winning the 24 Hours of Le Mans, Tour de France Automobile, and several Grands Prix.
The 250 GTO was a force to be reckoned with as soon as it reached the circuit. The performance of the vintage Ferrari exceeded all expectations, and it quickly rose to collectible status.
It’s virtually impossible to get a genuine 1962 Ferrari 250 GTO because so few of them were ever made. Anyone who owns one wants to keep it, and anyone who wants to purchase one needs to have a lot of extra money.
Which Ferrari is the cheapest?
The brand of supercars that is perhaps best known worldwide is Ferrari. This Italian carmaker has gained notoriety for its outstanding performance and domination in motorsports. In order to make their sports vehicles even more thrilling, Ferrari has started using turbocharging and electricity.
The Portofino is the least costly Ferrari currently on the market, yet no Ferrari can be classified as entry-level. The base price of this classy roadster is around $215,000 before options, and like any Ferrari, extras are available in abundance.
Most Expensive: The SF90 Stradale is a display of Ferrari’s performance prowess. Its hybridized twin-turbo V-8 produces close to 1,000 horsepower. The SF90 is considerably over $1 million in price, but you can’t just go into a dealer’s lot and purchase one. To add an SF90 to your collection of Prancing Horses, you must receive a personal invitation from Ferrari.
The most entertaining Ferrari to drive is impossible to choose, just as the preferred pizza variety. Nevertheless, we were in awe of the 812 Superfast. We won’t soon forget the 812 “Stoopidfast’s” V-12 song since emissions regulations cast doubt on the future of 12-cylinder engines.
As soon as a car is released, we want to test and rank as many of them as we can. We’ll rank new models as we periodically update our rankings and we might even change the scores for some models. Vehicles with insufficient testing data, however, are not scored.