Ferrari 250

Ferrari 250

Some say a Ferrari will never lose its value and we generally agree with it. But what happens when the Ferrari is all covered in rust? Well, we’re about to find out its auction value as Bonhams has put a 1961 Ferrari 250 GTE that hasn’t been driven since 1975 under the hammer. Imagine all the rust in there! In fact, the car needs a restoration job that wil probably cost £100,000 - about $150,000 at the current exchange rates. Still, Bonhams hopes to sell the car for about £60,000 - about $94,000. A bargain, no?

Once featuring a very cool silver paint, this 250 GTE has a very interesting history: in 1963 it was bought by Eva Michelson and imported from Rome to UK. Four years later she sold it to her doctor, Hector Anderson where it then passed as an inheritance to his daughter. Since then, the car has been sitting idly in a garage in Kent.

Bonhams said: "He only drove it for seven or eight years and it was last roadworthy in 1975. Because of this, it only has 49,000 miles on the clock... Now she has taken the decision to sell the car in the hope a Ferrari enthusiast will be able to appreciate its potential and bring it back to life."

So the question is: are you that Ferrari enthusiast?

Source: DailyMail

The Ferrari 250 GTO is considered one of the most revered cars in history, so much so that people with very, very deep pockets will line up and bid in the "7-0’s" just to be able to own one.

Recently, one of only 39 models of the iconic Ferrari sports car was put up for auction. Lo and behold, the bids came at a feverish rate before the vehicle was scooped up for a reported £20.2 million - that’s about $32 million based on current exchange rates.

You read that right, folks: $32 million for a Ferrari 250 GTO.

The classic sports car was reportedly sold by British businessman Jon Hunt, the same man who bought the car a few years ago for £15.7 million. Four years after the purchase, Hunt already has an extra £4.5 million in profit to his name.

As far as the car itself, the $32-million 250 GTO carries chassis number ’5095’ and comes with a 3.0-liter V12 engine that produces 300 horsepower while carrying a 0-60 mph time of 6.1 seconds and a top speed of 174 mph.

Despite the astronomical price tag, the 250 GTO’s auction price is a little short of the world record bid for a classic car, which the 1936 Bugatti 57SC Atlantic owns after receiving a bid of somewhere around $40 million two years ago.

Source: Top Gear

It has been confirmed that late last night, the world lost a true genius in the art of car design. Sergio Scaglietti, the man behind the designs of the 1957 250 California Spider , 1958 250 Testa Rossa , and 1962 250 GTO , among others, has passed away. He was 91 years old.

Sergio Scaglietti doesn’t need too much of an introduction in the eyes of Ferrari lovers. He started his work in 1951 when he opened Carrozzeria Scaglietti - an Italian automobile design and coachbuilding company. The coachbuilder was located just across the road from Ferrari in Maranello, where the great Enzo Ferrari took notice of the talented designer. Scaglietti was one of the few designers that gained Enzo Ferrari’s trust and respect both through his bodywork and design skills. Scaglietti of course started designing cars for Ferrari, and was even honored with a few cars named after him, such as the 612 Scaglietti and 456M GT Scaglietti .

"He was one of my father’s best friends," said Piero Ferrari. "He was next to me with Marco Piccinini also the day my father died and stayed with me the whole night until the funeral. I loved him and he was a very important part of my life. The world is emptier without Sergio."

After a lifetime of dedication to the designing of vehicles, Sergio Scaglietti passed away at his home in Modena. The world has undoubtedly lost an automotive icon. We have great respect for his work and send our condolences to his family.

On August 20th and 21st, 2011, one of the most legendary Ferraris of all time will go down to the auction block for the very first time. The auction will be hosted by Gooding & Company, the official auction house of the Pebble Beach Concourse d’Elegance. This particular Ferrari, a 1957 250 Testa Rossa, is expected to draw record numbers, solely because of its stature in the history of the Prancing Horse.

We know plenty about rare Ferraris fetching insane bids in past auctions, but this one is expected to trump all other models in the past. Over the past few years, Ferraris have posted record-breaking bids, including a 1961 Ferrari California Spyder that went for over $10 million back in 2008 and a 1958 Ferrari 250 TR that was scooped for a record $12.4 million a year later in 2009.

UPDATE 08/21/11: The numbers are in and just like we anticipated, this rare 1957 Ferrari 250 Testa Rossa Prototype attracted the heavyweight bidders at the Gooding & Company auction at the Pebble Beach Concourse d’Elegance. We all expected it to sell higher than the $12.4 million price tag of another 250 Testa Rossa sold for two years ago and now we have the official price of the winning bid: $16.4 million.

Find out more about the Ferrari 250 Testa Rossa Prototype after the jump.

By now, you’re probably familiar with the works of Swiss artist Dante. If you recall, he’s the guy that makes those obscenely expensive car sculptures that retail for about the same price as high-performance sports cars. One of his previous works - a wire sculpture of the Aston Martin DB5 - has already graced our pages before, which came with a price of £88,000, about $144,000 based on current exchange rates.

Now, the artist is back with his new creation and the third piece of his Iconic Sports Cars: a 24-karat Ferrari 250 GTO sculpture that is scheduled to be revealed in Pebble Beach, California next month.

According to Dante, these sculptures are "my tribute to the men who made the original cars: they were artists."

There’s no telling how much this 24-karat 250 GTO is going to cost, but we expect it to retail for around the same price the aforementioned DB5 and the other sculpture, one featuring the Mercedes 300 SL Gullwing , commanded when they hit the market.

The 24-karat Ferrari 250 GTO will be limited to only ten pieces and will be unveiled at the same time that Pebble Beach will be celebrating the real deal with an exhibit of the world’s remaining 250 GTOs.

"One of the most important reasons for my coming to Pebble Beach is the celebration of the Ferrari 250 GTO and the number of original cars being shown," said Dante. "It is my favorite car of all time.”

Posted on by Charlie Austin 2

Chances are, you will never fly to the moon or become a billionaire. An even more unlikely scenario is to see an original Ferrari 250 GTO Evocazione up for sale. To say the occurrence has a once in a blue moon chance is a bit of an understatement. That being said, get your checkbooks out and get ready to write down a number well into the 8-figures - but not yet.

The car up for sale is not a real 250 GTO Evocazione. Although the car is a real Ferrari, it started its life as a much more modest 330 GT . The owner then decided to mod the car to resemble a 250 GTO. And not just any GTO, the only right hand drive 4-liter V-12 model Ferrari made to compete at Le Mans.

The fact of the matter is that, although you are not getting a real 250 GTO, the replica is sure to make you just as happy as the real thing. Once in a lifetime will you ever see a real 250 GTO Evocazione up for sale, so for an astronomically lower price, you have the opportunity to own a piece of racing history.

The Ferrari 250 GTO Evocazione replica is expected to fetch $377,000 - a far cry from the $18 million of the original - on September 25th at the Historics at Brooklands in England.

Source: Luxist

Gooding & Company has announced that a 1959 Ferrari 250 GT LWB California Spider Competizione will be available for auction at Pebble Beach Concours d’Elegance in August. The car is considered to be the most significant LWB California Spider ever built, so expect to see a very high price attached to this vehicle.

The California Spyder features a 508 D chassis, covered headlights, and the most powerful engine still fitted to a California Spider, a Tipo 168. These highlights are some of the main reasons this car has done so well in a number of events. It finished 5th overall at Sebring 12 Hours and has done well in the Bahamas Speed Week, many times with famous drivers including George Reed and Alan Connell behind the wheel.

The same auction will also feature a 1955 Maserati A6G/54 Berlinetta by Zagato, a 1961 Ferrari 250 GT SWB Berlinetta SEFAC Hot Rod, and a 1971 Lamborghini Miura S that is being estimated at more than $600K. There will also be an auction by Mecum featuring a 1959 Ferrari 250 GT LWB Tour de France .

Press release after the jump.

In 1959 Ferrari unveiled a one-off 250 GT Tour de France specially designed for the 24 Hours of Le Mans. This car took first in its class and third place overall at Le Mans and won the 1000km Nurburgring race as well. Since then the car has only been owned by a few collectors. Unbelievably, this particular car will now be going up for auction by Mecum in Monterey, California. This auction will take place during the Pebble Beach concours weekend on August 13, 2010.

The 1959 Ferrari 250 GT LWB Tour de France, serial number 1321, is painted in the original red and orange livery with original racing number. It was built on a 2600 mm wheelbase and powered by a 3-liter version of the Colombo ’short-block’ V12 engine that delivered 240 hp. This appearance will be its first in over twenty years since its outing in Road America in the early ’90s.

Source: Luxist

What crisis? People say there is a monetary crisis all over the world, but if you take a look at the recent auctions made in the automotive industry, you’d be scratching your head about what the heck everyone was talking about. Just recently a 1936 Bugatti Type 57SC Atlantic was sold for an amazing $30-$40 million, bringing it to the top of the list of the most expensive cars sold. Today we bring another piece of news like the Bugatti story: a 1963 Ferrari 20 GTO was sold by RM Auctions for an amazing $25 million. Not the most expensive car sold, but damn near close to it.

That’s not such a big surprise considering the 250 GTO is a very exclusive car. It was built between 1962 and 1964 and only 39 units were produced. It was powered by a V12 engine delivering an impressive 302 bhp at 7500 rpm. The 250 GTO is capable of making the 0 to 60 mph sprint in 5.4 seconds and can hit a top speed of 174 mph.

Max Girado – R.M.’s Euro M.D. – said: "The exclusivity of Ferrari’s 250 GTO cannot be understated. As they rarely come to market, new owners become part of a very exclusive ‘club’ and are welcomed with open arms at literally any of the world’s great concours events, races, and rallies. We are pleased to have been able to unite this exceptional car with a new and immensely enthusiastic owner. It’s fantastic that this car will now be used in earnest on the classic car scene around Europe."

Source: Cars UK

For all intents and purposes, a Ferrari 250 GTO deserves to be cleaned as often as a $10 million-dollar car should be cleaned, which is to say, all the time.

After all, you wouldn’t want any dirt, or grime, or any foreign substance to stick on your car, right?

This man knows all too well about that. Unfortunately, the 250 GTO that he’s ‘supposedly cleaning’ is far from his.

Check it out and spend the next minute or two laughing to your hearts content.

Source: YouTube

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