It took four years and an undisclosed sum of money to construct the so-called 288 GTO “Revival.” The car is based on a 1984 Ferrari 308 QV GTS that has been modified using parts from Ferrari-manufactured and Ferrari-sourced suppliers to achieve the closest replica of the homologation rare 288 GTO, which was only produced in 273 examples.
The automobile is currently up for auction, with no reserve price established. A authentic Ferrari 288 GTO sells for approximately GPB 2,5 million (about $3.3 million), according to Silverstone Auctions. Few people, nevertheless, would dare to operate one of those cars on public roads.
After all, owning an early 1980s Ferrari homologation special is an investment, and many people think that the 288 GTO is a requirement for collectors. But what if you want to drive a vehicle that is comparable to it but costs a lot less?
Since it uses genuine Ferrari parts or components that were molded from an authentic Ferrari 288 GTO, someone worked with Ferrari specialists QV of London, who employ ex-Maranello engineers, over a four-year period to create the closest replica of a 288 GTO.
To create a highly convincing recreation of a rare Ferrari homologation special that can be enjoyed driving on the road even by individuals who are not multimillionaires, thousands of hours of labor went into this car. The vehicle is mechanically brand-new throughout, has brand-new wheels and tires, and is ready to be driven.
Purists may take offense, though, as the reproduction portion does make an exception, using a naturally aspirated Ferrari 348 engine and transmission in place of the 2.9-liter twin-turbo V8 found in the original 288 GTO.
Yes, the engine is not turbocharged, but it has reportedly had its ECU remapped for a more pleasing than the original power curve that is straight and predictable. In addition, the advertisement states that no savings were made during the changeover. Have your banker on the line for this one if you want to drive the closest thing to a classic homologation special Ferrari without risking a multi-million dollar vehicle on public roads because it will be auctioned off this weekend (or anywhere else, for that matter).
In This Article...
The 288 GTO Tradition
The 288 GTO signaled Ferrari’s new path even though its primary objective wasn’t achieved because of more power. Porsche released the 959, another Group B-intentioned project, shortly after the 288 GTO, which prompted Enzo to respond with the F40 and launch the ultimate 1980s supercar competition.
The original supercar duo created a trail that was later followed by the F50, Enzo, and LaFerrari. The 288 GTO was the first in a long line of Ferrari supercars and also one of the rarest. Ferrari had intended to produce 200 instances just for homologation, but the great demand and abandonment of rallying goals led to the production of an additional 72 examples, for a total of 272. There are 273 if you include the official pre-production prototype.
The 288 GTO’s pricing on the collector vehicle market is influenced by its rarity as well as its significance to the manufacturer. Even with inflation adjustments, the 288 GTO’s current sticker price of $3 million is a substantial premium over the initial sticker price of $84,000 ($213,088 in today’s dollars), making it one of the most valuable Ferraris produced after the 1960s.
What is the market value of a 1984 Ferrari 288 GTO?
According to a statement from Dusseldorf police, the suspect made contact with a classic automobile dealer pretending to be a potential buyer who had indicated interest in purchasing a 1985 Ferrari 288 GTO. The suspect also arranged for a test drive with the seller.
On Monday, when the seller got out of the car to switch drivers, the potential buyer sped up and took off.
The 1985-first-registered “vintage automobile,” according to the police, is worth more than EUR2 million.
The Ferrari 288 GTO is a special, limited-edition version of the 308 GTB, a Ferrari that is currently in production. In order to compete in the fledgling Group B Circuit Race, a road racing variant of the well-known Group B Rally circuit, only 272 vehicles were constructed between 1984 and 1987. The 288 GTO is currently one of the most sought-after Ferraris from the 1980s, despite the fact that the series was cancelled before it even began.
The cars are currently valued between $2.5 million and $3.5 million, according to Peter Haynes, a spokesman at specialized auctioneer RM Sotheby’s. In January, the auctioneer earned $3.3 million from the sale of a 1985 Ferrari 288 GTO.
According to the Westdeutsche Allgemeine Zeitung, Eddie Irvine, a former Formula 1 driver, once owned the stolen vehicle.
The item was eventually discovered concealed in a garage on Tuesday night in Grevenbroich, a town located approximately 18 miles southwest of Dusseldorf. Nevertheless, police are still looking for the suspect.
It is not a very smart idea to steal this vehicle because it is exceedingly challenging to sell, according to Haynes. It is comparable to a well-known painting in that it would be quite simple for most people to recognize it and extremely challenging to sell.
What is the value of a Ferrari 250 GTO?
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.
How many Ferrari 288 GTO models exist today?
Primarily 3 of the original 272 road GTOs and the additional 5 GTO Evoluzione models, which were only intended for racing, are still in existence. The last 288 GTO was constructed for former Formula 1 World Champion Niki Lauda and presented to him as a gift in 1986, making it the most coveted of all 288 GTOs ever constructed.
How much is a Ferrari from 1985 worth?
1985 Pricing and Specs for the Ferrari 308 GTS Quattrovalvole. Are you considering a Ferrari 308? Based on data from other parties regarding prices, you could anticipate paying $69,600 to $88,000.
Amount of Ferrari GTOs produced
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.
How much is the Ferrari driven by Ferris Bueller worth?
Ferris, the youthful protagonist of the iconic 1980s film Ferris Bueller’s Day Off, suggests purchasing a Ferrari 250 GT California Spyder because “It is so choice”—if you have the money, of course. Bueller was correct on this one point, even though you would not want to rely on the advise of a Ferrari-stealing, joyriding truant for much else. A genuine 250 GT California is a priceless vintage car that is worth millions of dollars. This 1985 Modena Spyder California, better known to the world as one of the three Ferrari replicas used in Ferris Bueller’s Day Off, is almost as good as the real deal and sold for a more manageable $396,000 on Saturday at the 2020 Barrett-Jackson Scottsdale auction.
According to popular belief, John Hughes intended for his next film to have a Ferrari 250 GT California Spyder as its lead vehicle. The only issue was that even then, a true Ferrari was too pricey. It’s simple to understand why a duplicate was utilized in place of the original vehicle given the rough treatment it would undergo in the movie, including jumps and being thrown backwards out of a suburban Chicago home and into a ravine.
Hughes came across Modena Design, a business established in 1980s California with the goal of creating reproductions of the legendary vehicle (basically a drop-top 250 GT “Tour de France,” one of which we tested). For the movie, three automobiles in various stages of completion were ordered. Only one of them was brought back to Modena Design, where the car’s movie damage was fixed and it was sold several more times, most recently to an American at a Bonhams auction in England in 2010 for over $100,000. That vehicle is currently on the National Historic Vehicle Registry’s list. But that isn’t the vehicle that sold at Barrett-Jackson.
This is really one of the two chassis that had more enigmatic lives after Ferris Bueller finished filming. This car, chassis 001, has recently undergone a full restoration by Modena Design co-founder Neil Glassmoyer, unlike the third car, chassis 003, which went unsold at Mecum’s 2019 Monterey auction with a high bid of $225,000. The car’s exterior was changed and its mechanical parts were upgraded to bring it to this state. We assume that despite being equipped with a coil-over suspension, chrome 16-inch wire spoke wheels, and a 7.0-liter Chevy V-8 engine, this non-Italian Ferrari is still a lot of fun to drive. Along with the car, other memorabilia was offered for sale, including a signed certificate of authenticity from Modena Design.
At Barrett-Jackson, competitive bidding led to a final price that included the buyer’s premium of $396,000. There is no disputing that chassis 001, a pricey cinematic symbol, will go down in history, even though it is unknown exactly which sequences it appeared in for the movie.