RM Sotheby’s is asking $60 million for the rare 250 GTO.
For classic car enthusiasts, the opportunity to encounter a “sale of a lifetime” may come around more than once. However, in the case of the Ferrari 250 GTO currently being offered by RM Sotheby’s, this lofty claim might just be accurate.
Not only is this Ferrari an example of the rarest and most coveted Prancing Horse ever created, but it also holds an argument for being the most valuable production vehicle model. While a $70 million Ferrari 250 GTO was outshone by a $143 million Mercedes-Benz SLR in 2022, that Mercedes was a one-of-two prototype.
On the other hand, Ferrari produced a total of 36 250 GTOs, with “250” representing the engine displacement per cylinder in cubic centimetres, and “GTO”, standing for Gran Turismo Omologato, meaning Grand Touring Homologated in Italian.
There aren’t many cars that have combined style and substance like the 250 GTO, which was built between 1962 and 1964. The long-nosed grand tourer is one of the best-looking grand tourers Ferrari has ever built. It was also powered by a mighty Colombo V-12, which helped it take home FIA’s International Championship for GT Manufacturers three years in a row. Add In the fact that only 36 examples were ever produced and it’s little wonder the race car is so sought after.
The 250 GTO, designed by renowned engineer Giotto Bizzarrini with early wind tunnel assistance, debuted in 1962 as an enhanced version of the already FIA race-homologated 250 GT. Equipped with a 3.0-litre Colombo short-block V12 engine boasting dry-sump lubrication and six dual-throat Weber carburettors, it sent a mighty 300 horsepower through a brand-new five-speed synchromesh gearbox.
The chassis also benefitted from lighter tubing, reducing the car’s weight by 250 pounds compared to its predecessor. The engine and chassis were positioned closer to the ground, improving the car’s handling by lowering its centre of gravity.
While the 3.0-litre engine made the 250 GTO a dominant force on the racing circuit, the example in question, chassis No. 3765, is not one of the 36 models with this engine. Instead, it is one of only three fitted with an enlarged 4.0-liter V12. This modification was a response to the 4.0-litre GT class introduced by the L’Automobile Club de l’Ouest (ACO) in 1962, soon adopted by prestigious endurance races such as Sebring and the Nurburgring 1000 KM.
“A once-in-a-generation opportunity to purchase the 1962 Ferrari 330 LM / 250 GTO—chassis 3765—after nearly four decades in private ownership,” RM Sotheby’s posted on Instagram on Friday.
When this extraordinary Ferrari 250 GTO goes up for auction on November 13 in New York, it is expected to fetch a staggering $60 million or more. This crown jewel of automotive history represents a once-in-a-lifetime opportunity for collectors and connoisseurs alike.
