Back in February a 1962 Ferrari 250 GTO has been sold for an amazing £20.2 million - or about $32 million at the current exchange rates. Now one Ferrari 250 GTO Series 1 unit has been listed at Anamera.com for an even more impressive $41 million.
Ferrari produced only 39 250 GTO units between 1962 and 1964 and it is being considered to be one of the greatest Ferrari models ever built. Most of the work has been made by Chief engineer Giotto Bizzarrini and designer Sergio Scaglietti whom have spent hours in the wind tunnels and on the race tracks perfecting the body of the GTO. The result was a top speed of 174 mph.
The model is powered by a 3.0-liter Colombo V12 engine used in the Test Rossa. This was an aluminum engine with magnesium cam covers, six 38 DCN Weber carburetors, and a dry sump oil system. The engine delivers a total of 300 horsepower and sprints the car from 0 to 60 mph in just 6.1 seconds.
The Ferrari California Spider alone is one of the most desirable Ferraris and sports cars in the world. This 250 GT LWB California Spider Competizione, which belonged to the late Sherman Wolf, is an even more desirable model, as it is one of nine examples that boast an all-alloy body and a long wheelbase. That rarity is something that will drive this car to between the $7 and $9 million mark.
This sample was actually the first Ferrari that the famed collector owned, and made its way to Wolf after first being owned by George Reed. Wolf also ran this Ferrari in the first ever Colorado Grand, just adding more to its storied history.
On the mechanical side, this 1960 Ferrari 250 GT LWB California Spider Competizione boasts full competition specifications. It has an outside plug motor that has TR heads resting on top of it, 4-wheel disc brakes, velocity stacks, and a ribbed gearbox to help keep it cool. The engine is a 2,953 cc V-12 with three Weber carbs mounted atop it and a 9.8-to-1 compression ratio. It punches out 280 horsepower at 7,000 rpm and 203 pound-feet of torque at 5,500 rpm.
The body is draped in a medium shade of red and was fully restored by Ferrari specialist, David Carte. The wheels are the factory-style wires and the headlights boast the full-racing covers to help add to the car’s aerodynamic look.
This 1960 Ferrari 250 GT LWB California Spider Competizione is being offered up at the Pebble Beach Auction on August 18th and 19th, 2012 by Gooding & Company. It is one of four Ferraris owned by the Wolf estate that are up for auction in Pebble Beach.
UPDATE 08/20/2012: The Ferrari 250 GT LWB California Spider Competizione has just set a record at Monterey for all-time high price. The classic, drop-top sports car was auctioned off for a whopping $11,275,000! Someone really wanted that car!
Click past the jump to read the full press release.
The 1962 Ferrari 250 GTO is, without question, the rarest and most sough-after Ferrari ever built. Hardly surprising, too, considering that only 36 models were ever built and it carried an iconic design and ahead-of-its-time mechanics.
This year, the 250 GTO is celebrating its 50th anniversary and Ferrari is preparing for a grand celebration that the car so fittingly deserves. One of the Ferrari’s partners, Hublot is lending its support with the production of the Ferrari 250 GTO Classic Fusion Watch, a time piece that pays homage to the iconic Ferrari.
Unveiled last week in an event at the home of Dom Pérignon Champagne at Abbaye de Hautvillers in France, the special edition timepiece is truly a watch for the books. In celebrating the 50th anniversary of the 250 GTO, Hublot designed the Ferrari 250 GTO Classic Fusion Watch with the finest of details, highlighted by a 45mm encasement machined out of titanium and fitted with a skeletonized Tourbillion movement. The Swiss watchmaker also added GTO references on the watch, including the customized chassis numbers from the cars and the use of barenia calfskin on the watch’s strap. Finally, a unique barrel drum was also designed in the watch, which you can see at the 12 o’clock position. This is as unique and as intricate a detail as you can expect from a timepiece brand like Hublot.
Unfortunately for timepiece enthusiasts, getting your hands on one of these watches is next to impossible...unless of course you happen to own one of the remaining 250 GTOs still in existence today.
The Ferrari 250 GT lineup was a direct spawn of the 250 racers from the 1950s. In 1954, the first of the 250 GTs, the 250 Europa GT, came into existence, bearing a 217-horsepower V-12 engine and a long racing bloodline. The 259 GT line was neither a long-lived nor mass produced product, as it only lasted one decade and a fairly limited production number.
In 1962, Ferrari released a new version of the 250 GT, which was dubbed the 250 GT Lusso, “Lusso” meaning “Luxury.” The 250 GT/L is one of the more rare Ferraris in the world today, as only 350 models were ever built and the number of surviving models is not readily available.
If you have ever wanted to own one of these particularly rare machines, now is the time to act, as RM Auctions is offering a 1964 Ferrari 250 GT/L Berlinetta up for sale in Monaco on May 11th and 12th, 2012. Not only is this an extremely rare model, but it was the 4th from the last one ever manufactured.
You may be wondering how well this 48-year-old Ferrari is holding up to the test of time.
The going price for a Ferrari 250 GTO, at least in the auction market, has a base of seven figures. That means that if you have plans of owning one, you need to have a pretty deep set of pockets.
But if finances are a question, you can still own something akin to a 250 GTO, except that instead of the actual classic Ferrari, you’ll be going home with a set of cufflinks.
Courtesy of GTO London, the gentleman’s accessory specialist, the Ferrari 250 GTO Barrel Ignition Cufflinks are probably the next best thing to owning an actual Ferrari 350 GTO. The cufflinks have been expertly hand-crafted and engineered to the finest detail, even featuring GTO London’s precisely-engineered signature cuff anchor mechanism.
In addition to the cufflinks, GTO London is also offering a slew of other items as part of their ‘Accensione’ collection. If cufflinks aren’t your thing, you can opt for a key fob and tie pin that has been designed to look like a Ferrari 250 GTO ignition. All these items, according to GTO London, are created from sterling silver, or, in some cases, with touches of Real Ferrari Metal.
And unlike an actual 250 GTO, owning these accessories won’t cost you a fortune. The Ignition Cufflinks retail at £245, which is north of $600 based on current exchange rates. As for the tie pin, that sells for £115 ($390) while the fob sells for £155 pounds ($390).
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?
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.
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.”