Tag Ferrari 250 GTO: Worth $48.4M?

1962 Car Wins at Nürburgring & Amelia Island

An already record-holding Ferrari 250 GTO made history when it achieved a staggering $48.405 million at auction in 2018. Now, the iconic car is set to be put up for sale by RM Sotheby’s on November 13th 2021, and speculation is rife that this particular model could bring in an even higher price due to its background.

This was one of the 34 GTOs engineered with a Tipo 1962 body shell. It originally was outfitted with a 4.0L V12, which allowed it to comply with the latest competitive standards in 1962. Unlike the other models, this special vehicle was retained by Scuderia Ferrari as an internal team car. The powerhouse under the hood had a potential of churning out around 300 horsepower.

At its debut, the GTO showcased its strength during the 1962 Nürburgring 1,000 Kilometers, clinching first place in its class and an impressive second-place overall. Ferrari then prepared the car for the 24 Hours of Le Mans, making it even more formidable with a beefed-up engine capable of 390 horsepower, as well as driving lamps beneath the indicators positioned on the fenders—the same design which still adorns them today.

The team endured difficulties at Le Mans as the vehicle secured fourth on the grid yet its engine became unbearably hot throughout the competition.

Ferrari restructured the auto to fit the requirements of a typical 250 GTO and sold it to an unaffiliated buyer. As part of the transformation, they swapped out the motor for a 3.0-liter unit, which still remains in place.

Having gone through the hands of many proprietors until being acquired by an individual from Ohio in 1985, this unique car has seen use in vintage races and appearances at public events such as the Best-of-Show accolade won at the 2011 Amelia Island Concours d’Elegance. The current owner is now desirous of selling the rare vehicle at auction.

This is the inaugural offering of a remarkable 250 GTO in 38 years. Included RM Sotheby’s sale are production papers, inclusive of the build paperwork for the racing periods at both Nürburgring and Le Mans as well as the later transformation of the vehicle to a 250 GTO.

Apart from the instance that went sold for an astronomical $48.4 million, other 250 GTO cars have garnered immense prices at auctions. In 2014, Bonhams achieved a staggering $38.115 million for one of these models.

Beginning its rise in the motorsport world, the Ferrari 250 GTO set out as a progression of the 250 GT Short Wheelbase Berlinetta (SWB). It sported striking, wind-tunnel-refined styling. In addition, its 3.0-liter V12 received dry-sump lubrication, allowing it to be positioned lower down in the bonnet. Remarkably, despite being bigger than the SWB, the GTO still weighed around 250 pounds less.

Source: RM Sotheby’s

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