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.
In This Article...
Find out why a Ferrari 250 GTO sold for $52 million and how it came to be that price.
The Ferrari 250 GTO is extremely rare and sought-after because just 36 of them were ever produced.
Feast your eyes on the Ferrari 250 GTO if you’ve ever wondered what the most expensive car in the world looks like. It was just sold for $52 million, making it the priciest automobile ever.
It goes without saying that purchasing a classic car is not inexpensive. A increasing number of collectors are very interested in vintage cars and will pay very high prices for them. But even the most liberal funds won’t cover the Ferrari 250 GTO.
The Ferrari 250 GTO has had a 500,000% increase in value when it first cost PS6,000. There are a few main causes for this:
- It is quite valuable because Jean Guichet drove it to victory in the 1963 Tour de France.
- Only 36 GTOs were ever produced, making it one of the most coveted classic automobiles in the world.
- It boasts a strong V12 engine that allows it to reach a top speed of 174 mph.
When it originally debuted, the 1963 Ferrari 250 GTO cost far less.
So, from where did this amazing car originate? According to legend, Enzo Ferrari was searching for a rival to the Jaguar E-Type. That, according to Digital Trends, is the reason the 1963 Ferrari 250 GTO exudes style and charm. However, this car is primarily intended for racing.
Gran Turismo Omologato, or “Race Homologation Special,” is what “GTO” stands for. Since then, the GTO moniker has come to mean high performance, quickness, and racing prowess. The original 250 GTO won the 1963 Tour de France after a strong start.
The 1963 Ferrari 250 GTO was always a somewhat costly vehicle, looking back. The original price of the production model was around $18,000, or $153,000 in today’s money. Enzo himself had to assess and approve buyers as part of the procedure.
There is substantial debate over how many of these vintage Prancing Horses were made; estimates range from 36 to 39, according to Road & Track. Ferrari, however, affirms that it ultimately produced and sold 39 vehicles.
As they changed hands over time, different Ferrari 250 GTO models had varying prices. A 250 GTO actually cost $5,400 when it was sold privately in 1962, before all the fanfare. A restored GTO owned by Ralph Lauren sold for $4.2 million 20 years later. The price of the Ferrari 250 GTO has only risen in more recent years; a 1962 example was sold privately in 2012 for $35 million. Another 250 GTO also set an auction record in August 2014 when it sold for $38.1 million, according to Forbes.
Undoubtedly, a vehicle’s value might soar to new heights due to limited manufacture. But why is the price of the 1963 Ferrari 250 GTO so outrageous? And how does this storied collector automobile stack up against other pricey vehicles out there? Apparently, there is a lot more to learn about the Ferrari 250 GTO.
History
Even though there were only 36 of the 250 GTO’s built, it has grown to be one of the iconic models in Ferrari history. It was certainly a race car through and through, but it was also created to be a personal vehicle for highway travel, which is what made it so distinctive. The 250 GTO sped off in the 12 Hours of Sebring for its very first race. The 250 GTO, driven by Phil Hill and Oliver Gendebien, came in first place overall and second only to a Ferrari 250 Testa Rossa in its class.
The 250 GTO’s V12 engine produced 300 horsepower and reached a top speed of 174 mph. With an open gate gear-change tower in the cockpit, the 5-speed gearbox was connected to the V12 engine. The 250 GTO prototype was given the nickname “Il Mostro” (The Monster) for its peculiar appearance because of its distinctive design (a tale with a mystery all of its own). The legend of the most expensive car ever sold, however, began with this design, which ended up giving the car faster speeds than a conventional body ever would have.
How much does a Ferrari 250 GTO cost?
($52 million and $70 million) 1963 Ferrari 250 GTO Given that the four most expensive Ferraris ever sold are all variations of the same model, even minor variations can result in significant changes in value. Two 1963 Ferrari 250 GTO cars cost about $20 million apart, largely because of the condition of the first.
Is the 250 GTO the priciest car?
In the world of collectable cars, the Ferrari 250 GTO is recognized as the Holy Grail. It is one of the rarest Ferraris in existence and one of the most successful racing cars of its era, which only increases the value of this historical artifact. Only 36 units were produced between 1962 and 1964.
There is no such thing as a cheap Ferrari 250 GTO, but this specific model from 1963 with the serial number 4153 GT currently holds the record for the most expensive vehicle ever sold at auction for a staggering $70,00,000. This front-engined GT car was capable of reaching 174 mph, which was unheard of at the time, and ran the quarter-mile in just 13.1 seconds thanks to its 302 horsepower Tipo Comp. 3-liter V-12 and 5-speed gearbox with Porsche-style synchromesh. One of the main factors in this record-breaking example’s high price is the fact that it even won the Tour de France in 1964. If and when the anonymous owner of this legendary piece of automotive history decides to sell it, the same example is predicted to bring over $100 million.
What accounts for a Ferrari’s high price?
Even if you’re not a fan of supercars, you’ve probably heard about Ferrari and their illustrious cars. Everyone has dabbled with the thought of one day owning one at some point. However, you might be asking whether Ferraris are overpriced and why they are so pricey.
Ferraris are pricey because they are produced with great care and in small quantities. There aren’t enough of them for everyone who can afford one, despite their legendary racing history and extremely strict quality control. They can look excessively expensive, even among supercars.
This doesn’t adequately convey how difficult a Ferrari’s pricing structure is. There is a lot going on behind the scenes, so focusing only on the visible aspects would not provide an accurate picture. Below, we examine each of these elements in greater depth.
How uncommon is a 250 GTO Ferrari?
This one is for you if you consider yourself to be a car enthusiast or if you enjoy classic vehicles. Every few years, a Ferrari 250 GTO is put up for auction, and it always appears to be a big deal. It is not just the most sought-after and perhaps even most revered sports car in history, but its scarcity is amazing as well.
Less than 40 were created between 1962 and 1964. Additionally, all of these few occurrences can be attributed to collectors. Stay tuned if you’ve ever wondered how much a 1963 Ferrari 250 GTO may sell for in the current market. This rare of a gem commands a hefty price.
A Ferrari 250 GTO is owned by whom?
Two 250 GTOs are currently held by three people: Wal-Rob Mart’s Walton, hedge fund owners Tony and Lulu Wang (who are unrelated to owner Brandon Wang in the United Kingdom), and British industrialist Sir Anthony Bamford, who had briefly owned the chassis that just sold.
What is the most affordable Ferrari?
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.
Which Ferrari is the most coveted?
1957 Alfa Romeo 250 TR The Ferrari 250 TR is the most sought-after and coveted Ferrari today after it garnered a $16.4 million offer at auction in 2011, setting a new record for the highest auction price for a vehicle.
What Ferrari has been produced the least?
Early Ferrari road cars are more like GT cars than pure sports cars, resulting in some of the most stunning Ferraris ever built. Ferrari’s 374 America, which was unveiled in 1953, allowed customers to specify whether they wanted Pininfarina or Vignale bodywork. Similar in every way except for the V12 Lampredi engine’s 296 horsepower, which is sufficient to hit 170 mph.
The 375 Americas are the rarest Ferrari GT road vehicles produced, with only 12 specimens totaling two years of production. Although they are uncommon, good examples can cost up to $1.4 million, which is far less than other of the brand’s more expensive vehicles.
What Ferrari model is the rarest?
We’ve found the only Ferrari 328 Convertible ever produced, which is for sale. Wait until you read the story of how the car was created if you think that’s the cool part.
Have you heard about the Pininfarina Sergio, based on the Ferrari 458? Given that just six were produced, probably not. How about the well-known 250 GTO? 36 of those were present. Even the Ferrari F40 is incredibly widespread, with 1,311 units being produced.
The only other one is this 1984 Ferrari 328 Convertible (serial number 49543), making it the most uncommon of them. It’s also up for sale.
The car is still located in the Emilia-Romagna region of Italy, close to its home town of Maranello near Modena, and is painted Giallo Modena (yellow) over a black leather interior with a black soft top.
A standard Ferrari 328 costs roughly EUR1.1 million (A$1.7 million) less than the ask, which is a hefty EUR1,200,000 (A$1.85 million). Why then the outrageous price?
The Ferrari 328, which had a 200kW 3.2-liter V8 and a five-speed manual transmission, evolved from the Ferrari 308, which was only available as a coupe (GTB) or targa (GTS).
The 328, which was constructed between 1984 and 1988, shared a production line with the 2+2 Mondial, V12 Testarossa, grand-touring 412, and the 288 GTO and F40 supercars.
According to the records, chassis 49543 was not only the convertible prototype but also the first 328 series development prototype.
Pininfarina created the design, while Ferrari’s Carrozzeria Scaglietti in Modena constructed the vehicle as a production-ready soft-top. After that, it underwent certification and road registration to evaluate the new 3.2-liter V8’s performance and the revised chassis’ dynamic capabilities.
The Mondial was Ferrari’s mid-engine V8 convertible, but management believed that the 328 would hurt sales of the 2+2 (a total of 2456 Mondial coupes were made between 1983 and 1993, compared to 3693 Mondial coupes), thus the 328 retained the same GTS and GTB options as the 308.
The yellow cabrio was sold to a private buyer and let loose, in contrast to many “not for production” prototypes that are typically destroyed.
Over the course of its four-year production run, 7,412 Ferrari 328 vehicles were made, 82% of which were GTS Targa models. It was one of the final automobiles that Enzo Ferrari oversaw before his passing in 1988.
The convertible’s chances of success Probably, but the truth will only ever be known by one fortunate buyer.