16 June, 2018

Record £52m Sale for Ferrari GTO

The Ferrari 250 GTO is one of the most-famous Ferraris of all time after a private sale.

Boasting 300hp from its 3-Litre V12 engine and a top speed of 174mph, it was one of the fastest Ferraris at the time.

Trivia - The '250' refers to the size of the engine which is 250cc per cylinder

Nicknamed 'Il Monstro', the car's design was aided by research from wind tunnels which explains its aggressive lines and eye-catching curves. This attention to detail paid dividends for Ferrari as the 250 swept its categories and won titles at Le Mans, Tour de France, Goodwood and more.

The 250 GTO has a history of selling well with a 250 GTO Berlinetta selling for $38.1m in an auction and another 250 GTO selling privately for around $31m.

With the price of the GTO continuing to increase, are we ever going to see the first £100m car? We are already halfway there but let's take a look at current record holder, the Ferrari 250 GTO, serial number 4153 GT.

4153 GT, The Record Breaker

Justifying a reason to spend £52m on a car can be difficult. However, there is an exception to this general rule.

Classic cars are becoming a huge investment and are commanding record prices. A combination of their heritage and rarity is driving the prices straight towards the record barrier. 

The Ferrari 250 GTO has both of these things going for it and more. 

Racing History of 4153 GT

How many racing cars do you know that have competed in numerous competitions and never crashed? The 4153 GT has an envious racing history as it's been a part of some of the most famous races in the world - Rallies, road races, endurance races and hillclimbs to be exact.

  • Securing a 4th-place finish in the 1963 Le Mans is one of its greatest achievements. The car was driven by Pierre Dumay and Léon Dernier.
  • The following year, the 250 GTO won the 10-day Tour de France at the hands of Lucien Bianchi and Georges Berger.
  • Other notable races are the Nürburgring 1000km and the 24 Hours of Le Mans.

Trivia - The 4153 GT won numerous titles at the Concours d'Elegance events for best in its class.

Restoration and Ferrari Certification

The Ferrari Classiche certification is an official document which validates its authenticity against its original specification. This service is only available at the Ferrari HQ in Maranello for Ferraris over 20 years old.

Ferrari has a record of the cars it's produced since 1947 and scrutinise the cars it's assessing against their own records. 

Securing this certification in 2012/13 certainly boosted the price of the vehicle and what helped the car to achieve this was its restoration by renowned UK Ferrari specialist, DK Engineering during the 90s.

The Rarity of the Ferrari 250 GTO

Despite its illustrious racing career and authentication, the 250 GTO has another major thing going for it which is the fact that only 39 were made!

The 250 GTO is an extremely rare car split into 3 series. 

  • Series 1 had 33 models which were built between 1962 and 1963.
  • Series 2 had 3 models made in 1964. These cars were influenced by the style of the Ferrari 250 LM.
  • Series 3 also had 3 models made with a larger engine and are referred to as the 330 GTO specials.

Final Words

When the Ferrari 250 GTO was first released in 1964, it had a price tag of £6,000 (£116,135 today).

Now that we have seen the first £50m Ferrari, there are increasing rumours about that £100m mark. This Ferrari GTO is said to be one of the best in the world and if history is anything then they will only increase in value as the years go by. 

18 years ago, this GTO sold for just £6.5m which shows how much its price has extrapolated.

Do you think there will be a £100m car? If so, what will it be?

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Record £52m Sale for Ferrari 250 GTO
Record £52m Sale for Ferrari 250 GTO
Record £52m Sale for Ferrari 250 GTO