Wednesday, 14 November 2018
Latest news
Main » Ferrari 250 GTO expected to fetch $45m at auction

Ferrari 250 GTO expected to fetch $45m at auction

23 June 2018

No, it's not a typo, and that figure is not missing a decimal point.

With only 36 examples made and a legend as stellar as its timelessly handsome bodywork, the 250 GTO is the Holy Grail of collector cars.

And if you want to be just one of three people to have bought a 1962 Ferrari 250 GTO at a public sale this millennium, you'll need to find somewhere in excess of $60 million. Furthermore, with 300 race victories to the GTO's name it's ingrained in Ferrari folklore, serving to prop-up the sky-high estimate you see quoted here.

Later in 1962, the GTO was sold to regular Ferrari privateer customer Edoardo Lualdi-Gabardi. Used as a test auto by Ferrari, it was driven by 1961 Formula 1 world champion Phil Hill during the '62 Targa Florio.

Before it was sold to its first owner, Ferrari deployed a certain Phil Hill - 1961 Formula 1 world champion, no less - to use it as a test auto ahead of the 1962 Targo Florio.

A Sotheby's spokeswoman declined to say how much Whitten paid for the auto, but added that the market for such Ferraris was about $10 million or less in the late 1990s and early 2000s. Lualdi-Gabardi's incredible track success with the early GTO, right out of the gate, contributed significantly in cementing what would become the GTO legend and legacy as known today. So enamoured was he by the 250 GTO, he got a second GTO in 1963, and sold this one - chassis no 3413 - to a racing driver called Gianni Bulgari.

The Ferrari then went to Gianni Bulgari of the famous jewelry-making family, and in his hands -and those of subsequent owner Corrado Ferlaino-it was a class victor at the 1963 and 1964 Targa Florio. In 20 races, it was never crashed and never failed to finish. Despite that, 3413GT received a new, Series II specification body by Carrozzeria Scaglietti in 1964. The vehicle is being offered by RM Sotheby's, which estimated it at more than $65.57 million, the highest valuation ever for a vintage auto at auction.

It's current owner is Numerix chairman and former Microsoft chief software architect Dr Greg Whitten. Under Dr. Whitten's ownership, the GTO has competed in vintage events around the world over the last two decades, as well as four of the lauded GTO anniversary tours.

Ferrari 250 GTO expected to fetch $45m at auction