1963 Ferrari 250 GTO Hits $52 Million and Sets a New Record
Last year, a Ferrari 250 sold for $32 million. This price certainly sounds like a bargain, when compared to the price paid for a 1963 Ferrari 250 GTO racecar. Numerous reports indicate that an unknown man paid $52 million to get the car. There is no official confirmation on this, but according to Bloomberg, the price was confirmed by three specialist traders.
If this sale price is accurate, this easily trumps the $34,711,200 sale of a Ferrari 250 GTO that was once driven by Stirling Moss.
The car was once owned by the Greenwich, Connecticut-based collector, Paul Pappalardo, then by a Spanish collector. Pappalardo bought the car in 1974, paid a handsome fee to restore it and after that, it saw use in many historic races, including the 2002 Le Mans Classic. After that the car was sold.
When asked about this subject, Pappalardo said he has no comment, but it’s pretty clear that the Ferrari 250 is becoming a great collection.
Click past the jump to read more about the Ferrari 250 GTO.
Ferrari unveiled the 250 GTO in the early 1960s to compete in GT racing. The model was built on a chassis from the 250 GT SWB and was powered by a 3.0-liter, V-12 engine from the 250 Testa Rossa.
Next to the V-12 engine the 250 GTO was equipped with a hand-welded tube frame, A-arm front suspension and a live-axle rear end, disc brakes.
The 250 GTO was limited to only 39 units: 33 "normal" cars, three with four-liter 330 engines and three "Type 64" cars with revised bodywork. The car made its debut at the 12 Hours of Sebring in 1962 and after that, it won the World Manufacturer’s Championship three years in a row: 1962, 1963, and 1964.