Better get those checkbooks ready, folks! This Ferrari 250 GTO is going to fetch a huge price!

A few weeks after a Ferrari 250 GTO sold for a record-breaking $70 million, another example of the world’s most sought-after car is going to be put up for auction at the RM Sotheby’s auction in Monterey, California on August 24. The specific 250 GTO in question is estimated to fetch $45 million at the auction. It’s also just the third time a Ferrari 250 GTO is going to be offered for public sale since the calendar flipped to 2000. As much as must-have cars are concerned, there’s no denying which car sits as the unquestioned king of that list. It’s the Ferrari 250 GTO, and you can get your hands on one this August provided that you can afford it.

It’s not often that a Ferrari 250 GTO goes up for sale. It’s only happened three times publicly in the last 18 years, so when it happens, all the biggest car collectors in the world are going to come out, checkbooks in hand. The car they’re going to be fighting for is one of only 36 units of the 250 GTO. It’s widely considered to have the most beautiful design of any Ferrari in history, and its racing pedigree is unquestioned with over 300 race wins attributed to the model in its short history. When people say the Ferrari 250 GTO is the “holy grail” among auto collectors, there’s no exaggeration in that.

The specific model that’s going to be auctioned off by RM Sotheby’s is “chassis 3413 GT.” According to the auction house, it’s the third among all 250 GTOs to be built. It was even used as a test car by Ferrari before it was raced at the 1962 Targa Florio by 1961 F1 world champion Phil Hill. The car’s racing dominance continued with numerous race and title wins at the Targa Florio and the Italian National GT Championship. All in all, this specific Ferrari 250 GTO entered and finished over 20 races, all without any incidents attached to it.

1962 Ferrari 250 GTO Estimated At $45 Million will be Auctioned in August
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It’s widely considered to have the most beautiful design of any Ferrari in history, and its racing pedigree is unquestioned with over 300 race wins attributed to the model in its short history

Half a century later, this 250 GTO has changed hands a number of times, most recently in 2000 when it was bought by Dr. Greg Whitten, a former chief software architect at Microsoft. He’s owned the car since and has even used it to compete in a number of historic motorsport events. Despite its extensive racing history, this 250 GTO still has its original engine, gearbox, and rear axle. Most importantly, it still has its factory Series II body that was fitted by Carrozzeria Scaglietti in 1964.

It may not fetch as much as what WeatherTech founder David McNeal paid for the Ferrari 250 GTO that finished fourth at the 1964 Le Mans 24 Hours, but no one’s going to doubt the racing pedigree that this particular model has. “The fact that the GTO exists as it did in period, along with Dr. Whitten’s long-term, enthusiastic ownership, only adds to the car’s impeccable pedigree,” said Shelby Myers, a car specialist for RM Sotheby’s who also happens to have a name fit for the auto industry.

1962 Ferrari 250 GTO Estimated At $45 Million will be Auctioned in August
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It’s also just the third time a Ferrari 250 GTO is going to be offered for public sale since the calendar flipped to 2000.

Myers is right. No matter how you slice it, this Ferrari 250 GTO is going to fetch buckets at RM Sotheby’s. Whether it approaches its estimated price of $45 million already seems like a foregone conclusion.

References

1962 - 1964 Ferrari 250 GTO High Resolution Exterior
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Read our full review on the 1962 - 1964 Ferrari 250 GTO.

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Source: RM Sotheby’s

Press release

The Holy Grail: highly original, numbers-matching 1962 Ferrari 250 GTO set to star at RM Sotheby’s Monterey sale, 24-25 August
One of just 36 built, the GTO boasts successful period racing history, including winning the 1962 Italian National GT Championship (victories in 9 out of 10 races) and 1st in class at the 1963 and 1964 Targa Florio
Estimated to bring in excess of $45 million, the GTO is the most valuable car ever offered for public sale
View Ferrari 250 GTO on track with current owner Dr. Greg Whitten, an early Microsoft employee, at the wheel: http://bit.ly/250GTO18
Further information and updated list of entries for Monterey auction available at rmsothebys.com

BLENHEIM, Ontario (20 June 2018) – RM Sotheby’s is honored to announce that it has secured a 1962 Ferrari 250 GTO, perhaps the ultimate collector car, for what is set to be its most exciting Monterey auction offering to date.

Ferrari’s 250 GTO was effectively the final evolution of the marque’s famous 250 model, which debuted in 1953 and ended with the last GTOs in 1964. In total, a mere 36 examples of the 250 GTO were ever produced, all of which have survived. Widely considered the most beautiful Ferrari design, the model was one of the most successful road/racing cars that the marque ever built, claiming overall victory or 1st in class in nearly 300 races worldwide. Decades down the road, the Ferrari 250 GTO has become the car collector’s “holy grail”, thanks not only to its incredible pedigree, but to a group of French collectors who organized the first gathering of GTO owners in 1982. Occurring every five years since its inception, the meeting is a glorious driving and dining tour across the country of their choosing, and the only entry into this exclusive club is ownership; making the GTO the hottest ticket in the collector car world.

“We are thrilled at the rare opportunity to offer a legendary Ferrari 250 GTO at auction,” says Shelby Myers, Car Specialist, RM Sotheby’s. “Due to the evolution of technology and safety regulations that followed, the GTO was essentially the final true road racer, marking the end of an era when drivers really got their hands dirty. This was the last car that you could park in your garage, drive to the track, win the race, and then drive home.”

The Ferrari 250 GTO on offer, chassis no. 3413 GT, is the third of the 36 examples built, and began its life as a Series I car. Under Ferrari factory use, the GTO was a test car driven by Phil Hill for the 1962 Targa Florio road race. The car was then sold to its first owner, one of Ferrari’s most favored privateer customers, Edoardo Lualdi-Gabardi. The Italian gentleman racer entered the GTO in 10 races in 1962, winning all but one (in which he placed 2nd in class) and securing him the Italian National GT championship that year. Lualdi-Gabardi’s incredible track success with the early GTO, right out of the gate, contributed significantly in cementing what would become the GTO legend and legacy as known today.

Mr. Lualdi-Gabardi received a second GTO in 1963 and sold chassis no. 3413 to then race car driver Gianni Bulgari, who went on to lead the renowned Bulgari jewelry company from the 1960s to the 1980s. Under both Bulgari and subsequent owner Corrado Ferlaino’s ownership, the GTO handily won its class in the 1963 and 1964 Targa Florio. The car contested a total of 20 races in period, never involved in an accident, and not once failing to finish. A rare case and incredible feat for any race car, it retains its original engine, gearbox, and rear axle, as well as its factory Series II body, in which it was clothed by Carrozzeria Scaglietti in 1964.

Following its racing career, the GTO has passed through an unbroken chain of ownership that includes some of the most prominent Ferrari collectors in the hobby. In 2000, it was acquired by current owner Dr. Greg Whitten, Chairman of Numerix, avid collector car enthusiast and former chief software architect at Microsoft. Under Dr. Whitten’s ownership, the GTO has competed in vintage events around the world over the last two decades, as well as four of the lauded GTO anniversary tours. Wonderfully maintained in highly original condition, the GTO is estimated to achieve in excess of $45 million in Monterey, making it the most valuable motor car ever offered at auction.

Myers adds: “This marks just the third time that a GTO has been offered for public sale in the new millennium. I can think of no better place than our flagship Monterey event, an auction that has borne witness to the record-smashing sale of some of the most important cars in history, for the presentation of such an exceptional example of Ferrari’s most successful racer and the world’s most sought-after collector car, full stop. The fact that the GTO exists as it did in period, along with Dr. Whitten’s long-term, enthusiastic ownership, only adds to the car’s impeccable pedigree.”

Watch the 250 GTO on the track with current owner Dr. Greg Whitten behind the wheel here: http://bit.ly/250GTO18.

Held during the world-famous Pebble Beach Concours d’Elegance motoring week, RM Sotheby’s Monterey sale (24-25 August), has been the pinnacle of collector car auctions for more than 30 years, leading the field and raising the bar with its consistent, record-setting results. This year’s Monterey sale is set at the newly reopened Monterey Conference Center following its $60-million-dollar renovation, offering collectors a stunning new experience and a beautiful space for the display and offering of 120 of the world’s most important motor cars in the ultimate collector car destination.

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