Why is 250 GTO so expensive?
Hagerty considers that the Ferrari 250 GTO is at the pinnacle of collectable cars because it combines so many of the attributes that enthusiasts lust after: a dominant racing record in period; a beautiful and instantly recognisable body; a phenomenal engine; very limited production numbers; and that special prancing . The most expensive Ferrari of all time is the 1962 Ferrari 250 GTO, which sold for a whopping $70 million in a private sale.Only 36 Ferrari 250 GTOs were ever made, making it one of the rarest and most valuable classic cars globally.But one car stands above the rest – The Record-Breaking Sale. In 2018, Chassis 4153 GT, a 1963 Ferrari 250 GTO, was sold in a private transaction for a staggering $70 million, setting the record for the most expensive classic car ever sold.Does a car exist that is worth a billion dollars? Not quite yet, because apparently even the world’s billionaires have budgets. But there is now a car worth a cool $142.
What engine does a Ferrari 250 GTO have?
It was powered by Ferrari’s Tipo 168/62 Colombo V12 engine. The 250 in its name denotes the displacement in cubic centimeters of each of its cylinders; GTO stands for Gran Turismo Omologato, Italian for Grand Touring Homologated. Just 36 of the 250 GTOs were manufactured between 1962 and 1964. Manufactured in a three-door hatchback coupé body style in Nagoya, Japan, the 2+2 four-seaters were marketed in the Japanese domestic market as the GTO, and globally as 3000GT.On its first outing at Monza in September 1961, prior to the Italian Grand Prix, the 250 GTO earned the nickname ‘Il Mostro’ (The Monster), due to its rough-hewn and ill-fitting prototype body.In Italian,Grand Turismo Omolagatois correctly abbreviated as GTO, but in English itshouldhave been Grand Touring Homologation, or GTH. The Ferrari 250 GTO , however, was on the minds of race fans internationally as the Ferrari had experienced a spate of road racing successes in Europe and in the States.The Pontiac GTO is a front-engine, rear-drive, two-door, and four-passenger automobile manufactured and marketed by the Pontiac division of General Motors over four generations from 1963 until 1974 in the United States — with a fifth generation made by GM’s Australian subsidiary, Holden, for the 2004 through 2006 model .
How many Ferrari 250 GTO exist?
The Ferrari 250 GTO (Gran Turismo Omolegato), entered production in 1962 and was built to race in the Group 3 GT racing series. Ferrari 250 GTO ($52 Million and $70 Million) Before being sold in 2013, it was owned by Paul Pappalardo, who reportedly restored it and raced it in a number of heritage race series. In 2018, another Ferrari 250 GTO in silver blue became the most expensive vehicle ever sold at $70.Altogether, only 36 Ferrari 250 GTO models were ever produced. Each model is currently accounted for, with notable owners over time including the likes of Ralph Lauren, jewelry heir Gianni Bulgari, and the WeatherTech founder and CEO David MacNeil who paid a reported $70 million for his 1963 Ferrari 250 GTO.The value of a 1964 Ferrari 250 GTO SII can vary greatly depending on its condition, mileage, options, and history. Typically, you can expect to pay around $39,100,000 for a 1964 Ferrari 250 GTO SII in good condition with average spec.The record is held by a 1955 Mercedes-Benz 300 SLR Uhlenhaut coupe sold in 2022 for €135 million to a private collector. On June 1, 2018, it was announced that a 1963 Ferrari 250 GTO had sold for $70 million at a private auction, at the time a world record.The current record for world’s most expensive Ferrari was set in June 2018 when a 1963 250 GTO (chassis 4153GT) was sold to David MacNeil in a private sale for $70 million.
How much does a 250 GTO cost?
Ferrari 250 GTO ($52 Million and $70 Million) With the 4 most expensive Ferraris ever sold all being the same model, even the smallest of differences can lead to massive shifts in value. Nearly $20 million separates two 1963 Ferrari 250 GTO models, and that’s due in large part to the shape it’s in. Altogether, only 36 Ferrari 250 GTO models were ever produced. Each model is currently accounted for, with notable owners over time including the likes of Ralph Lauren, jewelry heir Gianni Bulgari, and the WeatherTech founder and CEO David MacNeil who paid a reported $70 million for his 1963 Ferrari 250 GTO.David MacNeil got more than a rare car last year when he spent a reported $70 million to purchase one of only about three-dozen 1963 Ferrari 250 GTOs. He also got a spot on the list of the world’s top 100 car collectors, a list annually compiled by The Collector Car Trust and published in its yearly magazine, The Key.Current 250 GTO owners include Ralph Lauren; Pink Floyd drummer Nick Mason; Peter Sachs, grandson of Goldman Sachs founder Samuel Sachs; and Jon Shirley, of Microsoft.