1962 Ferrari GTO Sold For A Record $51.7 Million at Auction

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Filed under Automotive, Ferrari, News

We recently posted that an ex-factory 1962 Ferrari 250 GTO would hit the auction block and potentially set a record. Now, the auction has concluded with an awe-inspiring bang, a pivotal piece of automotive history changed hands as the most important Ferrari 250 GTO ever produced found a new owner for a staggering $51.7 million, setting a new record for any Ferrari sold at auction.

Despite initial expectations reaching $60 million, the final hammer price of $47 million proved to be somewhat of a steal for this exceptionally rare 250 GTO. When accounting for additional fees, the total sum soared to $51.7 million, eclipsing the previous record set by a 1962 Ferrari 250 GTO sold by RM Sotheby’s, which fetched $48.4 million, fees included.

What sets this Ferrari apart is not only its rarity but also its unique history. Originally equipped with a 4.0-liter V12, it stands as the sole Scuderia-raced GTO to boast such an engine. Following its participation in Le Mans, the factory replaced the engine with a standard 3.0-liter unit. In 1963, a privateer acquired the modified vehicle for racing purposes.

The journey of this iconic 250 GTO continued as it made its way to the United States in 1985, where the current owner took possession. Over the years, the car wasn’t just a static collector’s piece; it hit the vintage racing circuit and graced the stages of prestigious auto shows. Notably, it clinched the Best of Show title at the 2011 Amelia Island Concours d’Elegance.

A significant aspect of this auction was the inclusion of official build sheets, meticulously detailing the car’s preparation for racing at renowned tracks like the Nürburgring and Le Mans, as well as the factory-performed 250 GTO conversion. This extensive documentation not only serves as a testament to the car’s racing pedigree but also enhances its historical provenance, potentially elevating its allure and value in the eyes of discerning buyers.

In the world of classic cars, the sale of this Ferrari 250 GTO stands as a testament to the enduring appeal and value placed on automotive icons that have left an indelible mark on racing history.


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