GITNUX REPORT 2024

1962 Ferrari 250 GTO: The Most Expensive Ferrari Ever

Dive into the world of the iconic 1962 Ferrari 250 GTO, the most expensive Ferrari.

Author: Jannik Lindner

First published: 7/17/2024

Statistic 1

The most expensive Ferrari ever sold at auction is the 1962 Ferrari 250 GTO, which fetched $48.4 million in 2018

Statistic 2

The second most expensive Ferrari sold at auction is a 1957 Ferrari 335 Sport Scaglietti, which sold for $35.7 million in 2016

Statistic 3

In 2014, a 1962 Ferrari 250 GTO sold for $38.1 million at Bonhams auction

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In 2018, RM Sotheby's offered a 1962 Ferrari 250 GTO with an estimate of $45-60 million

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The Ferrari 250 GTO was designed by Giotto Bizzarrini and Sergio Scaglietti

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The Ferrari 250 GTO's body is made entirely of aluminum

Statistic 7

The Ferrari 250 GTO's body was wind-tunnel tested to improve aerodynamics

Statistic 8

The Ferrari 250 GTO's iconic design includes a long, low hood and a fastback rear end

Statistic 9

The Ferrari 250 GTO features distinctive air vents on the front fenders

Statistic 10

The Ferrari 250 GTO has a tubular steel frame chassis

Statistic 11

The Ferrari 250 GTO's interior is spartan, focusing on functionality for racing

Statistic 12

The Ferrari 250 GTO's steering wheel is made of wood

Statistic 13

The Ferrari 250 GTO has a distinctive egg-crate grille design

Statistic 14

The Ferrari 250 GTO was the last Ferrari GT car to be built on a separate chassis

Statistic 15

In 2019, a Ferrari 250 GTO was central to a $44 million lawsuit over authenticity

Statistic 16

The 1963 Ferrari 250 GTO sold for $70 million in a private sale in 2018

Statistic 17

In 2013, a 1963 Ferrari 250 GTO sold for $52 million in a private sale

Statistic 18

Only 36 Ferrari 250 GTOs were ever produced

Statistic 19

The Ferrari 250 GTO was produced from 1962 to 1964

Statistic 20

Each Ferrari 250 GTO was slightly different due to hand-built construction

Statistic 21

The Ferrari 250 GTO's body panels were hand-beaten by skilled craftsmen

Statistic 22

Each Ferrari 250 GTO took about 3-4 months to build

Statistic 23

The Ferrari 250 GTO's engine number always matches its chassis number

Statistic 24

The Ferrari 250 GTO was never officially offered for public sale when new

Statistic 25

Enzo Ferrari personally approved each buyer of a new Ferrari 250 GTO

Statistic 26

The Ferrari 250 GTO won the Tour de France automobile race in 1963 and 1964

Statistic 27

The Ferrari 250 GTO secured Ferrari the International GT Manufacturers Championship in 1962, 1963, and 1964

Statistic 28

The Ferrari 250 GTO was homologated for racing in the Group 3 Grand Touring Car category

Statistic 29

The Ferrari 250 GTO won its class at the 24 Hours of Le Mans in 1962 and 1963

Statistic 30

The Ferrari 250 GTO's success led to it being nicknamed 'The Greatest Ferrari of All Time'

Statistic 31

The Ferrari 250 GTO was the last front-engined car to remain competitive at the top level of sports car racing

Statistic 32

The Ferrari 250 GTO has a 3.0-liter V12 engine

Statistic 33

The Ferrari 250 GTO produces 300 horsepower

Statistic 34

The Ferrari 250 GTO has a top speed of 174 mph (280 km/h)

Statistic 35

The Ferrari 250 GTO weighs approximately 880 kg (1,940 lbs)

Statistic 36

The Ferrari 250 GTO has a wheelbase of 2,400 mm (94.5 inches)

Statistic 37

The Ferrari 250 GTO uses a 5-speed manual transmission

Statistic 38

The Ferrari 250 GTO has drum brakes on all four wheels

Statistic 39

The Ferrari 250 GTO's engine is capable of revving up to 8,000 rpm

Statistic 40

The Ferrari 250 GTO has a compression ratio of 9.7:1

Statistic 41

The Ferrari 250 GTO uses three Weber 38DCN carburetors

Statistic 42

The Ferrari 250 GTO has a fuel tank capacity of 133 liters (35 gallons)

Statistic 43

The Ferrari 250 GTO can accelerate from 0 to 60 mph in approximately 5.4 seconds

Statistic 44

The Ferrari 250 GTO has a quarter-mile time of about 13.1 seconds

Statistic 45

The Ferrari 250 GTO's engine has a bore of 73 mm and a stroke of 58.8 mm

Statistic 46

The Ferrari 250 GTO has a length of 4,325 mm (170.3 inches)

Statistic 47

The Ferrari 250 GTO has a width of 1,600 mm (63 inches)

Statistic 48

The Ferrari 250 GTO has a height of 1,210 mm (47.6 inches)

Statistic 49

The Ferrari 250 GTO uses Borrani wire wheels

Statistic 50

The Ferrari 250 GTO has a front track width of 1,354 mm (53.3 inches)

Statistic 51

The Ferrari 250 GTO has a rear track width of 1,350 mm (53.1 inches)

Statistic 52

The Ferrari 250 GTO uses a live rear axle suspension

Statistic 53

The Ferrari 250 GTO has independent front suspension with coil springs

Statistic 54

The Ferrari 250 GTO's engine is based on the Colombo V12 design

Statistic 55

The Ferrari 250 GTO has a power-to-weight ratio of approximately 0.34 hp/kg

Statistic 56

The Ferrari 250 GTO uses a single overhead camshaft per cylinder bank

Statistic 57

The Ferrari 250 GTO has two valves per cylinder

Statistic 58

The Ferrari 250 GTO's gearbox is mounted directly to the rear axle, forming a transaxle

Statistic 59

The Ferrari 250 GTO uses a dry-sump lubrication system

Statistic 60

The Ferrari 250 GTO has no power steering or power brakes

Statistic 61

Each Ferrari 250 GTO was sold for $18,000 when new in the early 1960s

Statistic 62

The value of Ferrari 250 GTOs has increased by over 207,000% since their original sale price

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The Ferrari 250 GTO's value has increased by an average of 18% per year since 1962

Statistic 64

The Ferrari 250 GTO's value makes it one of the most expensive cars in the world to insure

Statistic 65

The Ferrari 250 GTO is considered by many collectors as the 'Holy Grail' of classic cars

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Summary

  • The most expensive Ferrari ever sold at auction is the 1962 Ferrari 250 GTO, which fetched $48.4 million in 2018
  • Only 36 Ferrari 250 GTOs were ever produced
  • The 1963 Ferrari 250 GTO sold for $70 million in a private sale in 2018
  • The Ferrari 250 GTO was produced from 1962 to 1964
  • The Ferrari 250 GTO has a 3.0-liter V12 engine
  • The Ferrari 250 GTO produces 300 horsepower
  • The Ferrari 250 GTO has a top speed of 174 mph (280 km/h)
  • The Ferrari 250 GTO weighs approximately 880 kg (1,940 lbs)
  • The second most expensive Ferrari sold at auction is a 1957 Ferrari 335 Sport Scaglietti, which sold for $35.7 million in 2016
  • The Ferrari 250 GTO was designed by Giotto Bizzarrini and Sergio Scaglietti
  • The Ferrari 250 GTO won the Tour de France automobile race in 1963 and 1964
  • The Ferrari 250 GTO secured Ferrari the International GT Manufacturers Championship in 1962, 1963, and 1964
  • The Ferrari 250 GTO has a wheelbase of 2,400 mm (94.5 inches)
  • The Ferrari 250 GTO uses a 5-speed manual transmission
  • The Ferrari 250 GTO has drum brakes on all four wheels

Buckle up, speedsters and enthusiasts, because were about to dissect the enchanting realm of the automotive elite with a spotlight on the Most Expensive Ferrari In The World! Behold the majestic 1962 Ferrari 250 GTO, fetching a mind-boggling $48.4 million at auction, making it a rare gem among the automotive aristocracy. With a lineage of just 36 ever produced, each bearing the hallmark of excellence with a 3.0-liter V12 engine, this beauty not only roars with 300 horsepower and a top speed of 174 mph but also accelerates into the stratosphere of value, proving that some cars are not just vehicles; they are prized milestones in automotive history. Watch out for the twists and turns ahead as we rev up the engines of exclusivity and prestige!

Auction Records

  • The most expensive Ferrari ever sold at auction is the 1962 Ferrari 250 GTO, which fetched $48.4 million in 2018
  • The second most expensive Ferrari sold at auction is a 1957 Ferrari 335 Sport Scaglietti, which sold for $35.7 million in 2016
  • In 2014, a 1962 Ferrari 250 GTO sold for $38.1 million at Bonhams auction
  • In 2018, RM Sotheby's offered a 1962 Ferrari 250 GTO with an estimate of $45-60 million

Interpretation

In the world of luxury cars, it seems that Ferraris are not just vehicles but coveted works of art rolling on four wheels. With price tags that could make even the most extravagant spender raise an eyebrow, the auction market for these iconic Italian stallions is a field where millionaires play a high-stakes game of automotive roulette. The jaw-dropping figures associated with these classic Ferraris not only reflect their impressive engineering and design but also the insatiable appetite of collectors willing to shell out the big bucks for a piece of motoring history. It seems that when it comes to these rare prancing horses, the only limit is the sky-high estimate at auction.

Design and Development

  • The Ferrari 250 GTO was designed by Giotto Bizzarrini and Sergio Scaglietti
  • The Ferrari 250 GTO's body is made entirely of aluminum
  • The Ferrari 250 GTO's body was wind-tunnel tested to improve aerodynamics
  • The Ferrari 250 GTO's iconic design includes a long, low hood and a fastback rear end
  • The Ferrari 250 GTO features distinctive air vents on the front fenders
  • The Ferrari 250 GTO has a tubular steel frame chassis
  • The Ferrari 250 GTO's interior is spartan, focusing on functionality for racing
  • The Ferrari 250 GTO's steering wheel is made of wood
  • The Ferrari 250 GTO has a distinctive egg-crate grille design
  • The Ferrari 250 GTO was the last Ferrari GT car to be built on a separate chassis

Interpretation

The Ferrari 250 GTO isn't just a car, it's a masterpiece on wheels crafted with the precision of a fine artist and the speed of a racing legend. Its aluminum body is not just for show, but a testament to its aerodynamic prowess, honed in the wind tunnel for peak performance. From its iconic design with air vents that scream speed to its Spartan interior built for the track, every detail of the 250 GTO exudes a sense of purpose and passion for racing. So, if you ever find yourself behind the wooden steering wheel of this beauty, remember that you're not just driving a car; you're revving up a piece of automotive history that will forever be the envy of the road.

Legal Issues

  • In 2019, a Ferrari 250 GTO was central to a $44 million lawsuit over authenticity

Interpretation

The drama surrounding the most expensive Ferrari in the world unfolded like a high-speed chase in court, with a $44 million Ferrari 250 GTO at the center of attention. It seems that even in the realm of luxury cars, authenticity is the ultimate currency, and this legal battle proved to be a test drive of truth versus fiction. While some may argue that the price tag alone could warrant its own legal defense team, one thing is certain – even the most exquisite treasures can find themselves caught up in a legal tangle, leaving everyone wondering: is it really worth the price?

Private Sales

  • The 1963 Ferrari 250 GTO sold for $70 million in a private sale in 2018
  • In 2013, a 1963 Ferrari 250 GTO sold for $52 million in a private sale

Interpretation

The ever-increasing price tags on the 1963 Ferrari 250 GTO are proof that owning one is like having a piece of automotive history rolled up in a luxurious, adrenaline-fueled package. It seems that these iconic machines don't just appreciate in value over time; they practically become their own class of high-priced collector's items, reserved for the elite few who truly understand the artistry and power of a Ferrari. So, if you're seeking the ultimate status symbol that costs more than a small island, look no further than this classic car with a price tag that would make even Scrooge McDuck blush.

Production Details

  • Only 36 Ferrari 250 GTOs were ever produced
  • The Ferrari 250 GTO was produced from 1962 to 1964
  • Each Ferrari 250 GTO was slightly different due to hand-built construction
  • The Ferrari 250 GTO's body panels were hand-beaten by skilled craftsmen
  • Each Ferrari 250 GTO took about 3-4 months to build
  • The Ferrari 250 GTO's engine number always matches its chassis number
  • The Ferrari 250 GTO was never officially offered for public sale when new
  • Enzo Ferrari personally approved each buyer of a new Ferrari 250 GTO

Interpretation

Ah, the Ferrari 250 GTO, a concoction of sheer automotive magnificence and exclusivity. With only 36 of these hand-crafted beauties ever gracing the roads, one cannot help but marvel at the meticulous craftsmanship and the discerning eye of Enzo Ferrari himself. Each 250 GTO, a unique masterpiece born out of a labor of love and precision, a true testament to the marriage of art and engineering. No wonder these machines fetch mind-boggling prices at auctions, for they are not just cars but exquisite pieces of history and craftsmanship, approved by the legend himself. The most expensive Ferrari in the world? Undoubtedly, and rightfully so.

Racing History

  • The Ferrari 250 GTO won the Tour de France automobile race in 1963 and 1964
  • The Ferrari 250 GTO secured Ferrari the International GT Manufacturers Championship in 1962, 1963, and 1964
  • The Ferrari 250 GTO was homologated for racing in the Group 3 Grand Touring Car category
  • The Ferrari 250 GTO won its class at the 24 Hours of Le Mans in 1962 and 1963
  • The Ferrari 250 GTO's success led to it being nicknamed 'The Greatest Ferrari of All Time'
  • The Ferrari 250 GTO was the last front-engined car to remain competitive at the top level of sports car racing

Interpretation

The Ferrari 250 GTO isn't just a car; it’s a time-traveling champion that effortlessly conquered racetracks, effortlessly snatching victories and titles like a seasoned pro. Its resume reads like a Hollywood A-lister, with accolades from the Tour de France to the coveted Le Mans, securing Ferrari's reign in the GT Manufacturers Championship. Nicknamed 'The Greatest Ferrari of All Time,' this prancing horse was not just a car—it was a legend on wheels, a testament to power, precision, and the unyielding spirit of competition. Like a fine wine, the 250 GTO only gets better with age, reminding us that true excellence is timeless and forever in a league of its own.

Technical Specifications

  • The Ferrari 250 GTO has a 3.0-liter V12 engine
  • The Ferrari 250 GTO produces 300 horsepower
  • The Ferrari 250 GTO has a top speed of 174 mph (280 km/h)
  • The Ferrari 250 GTO weighs approximately 880 kg (1,940 lbs)
  • The Ferrari 250 GTO has a wheelbase of 2,400 mm (94.5 inches)
  • The Ferrari 250 GTO uses a 5-speed manual transmission
  • The Ferrari 250 GTO has drum brakes on all four wheels
  • The Ferrari 250 GTO's engine is capable of revving up to 8,000 rpm
  • The Ferrari 250 GTO has a compression ratio of 9.7:1
  • The Ferrari 250 GTO uses three Weber 38DCN carburetors
  • The Ferrari 250 GTO has a fuel tank capacity of 133 liters (35 gallons)
  • The Ferrari 250 GTO can accelerate from 0 to 60 mph in approximately 5.4 seconds
  • The Ferrari 250 GTO has a quarter-mile time of about 13.1 seconds
  • The Ferrari 250 GTO's engine has a bore of 73 mm and a stroke of 58.8 mm
  • The Ferrari 250 GTO has a length of 4,325 mm (170.3 inches)
  • The Ferrari 250 GTO has a width of 1,600 mm (63 inches)
  • The Ferrari 250 GTO has a height of 1,210 mm (47.6 inches)
  • The Ferrari 250 GTO uses Borrani wire wheels
  • The Ferrari 250 GTO has a front track width of 1,354 mm (53.3 inches)
  • The Ferrari 250 GTO has a rear track width of 1,350 mm (53.1 inches)
  • The Ferrari 250 GTO uses a live rear axle suspension
  • The Ferrari 250 GTO has independent front suspension with coil springs
  • The Ferrari 250 GTO's engine is based on the Colombo V12 design
  • The Ferrari 250 GTO has a power-to-weight ratio of approximately 0.34 hp/kg
  • The Ferrari 250 GTO uses a single overhead camshaft per cylinder bank
  • The Ferrari 250 GTO has two valves per cylinder
  • The Ferrari 250 GTO's gearbox is mounted directly to the rear axle, forming a transaxle
  • The Ferrari 250 GTO uses a dry-sump lubrication system
  • The Ferrari 250 GTO has no power steering or power brakes

Interpretation

The Ferrari 250 GTO: A powerhouse wrapped in a lightweight, drum brake, wire wheel masterpiece that scoffs at modern comforts like power steering and brakes. With its V12 engine capable of hitting 8,000 rpm and pumping out 300 horsepower, this classic beauty proves that true speed doesn't need all the bells and whistles. Its power-to-weight ratio of 0.34 hp/kg is a testament to its raw performance, while its quarter-mile time of 13.1 seconds shows it's no slouch off the line. So, next time you see this gem gracefully glide by on its independent front suspension and live rear axle, just remember - it's not about the gadgets, it's about the guts.

Value Appreciation

  • Each Ferrari 250 GTO was sold for $18,000 when new in the early 1960s
  • The value of Ferrari 250 GTOs has increased by over 207,000% since their original sale price
  • The Ferrari 250 GTO's value has increased by an average of 18% per year since 1962
  • The Ferrari 250 GTO's value makes it one of the most expensive cars in the world to insure
  • The Ferrari 250 GTO is considered by many collectors as the 'Holy Grail' of classic cars

Interpretation

With a price tag that has skyrocketed faster than a Ferrari 250 GTO can go from 0 to 60 mph, these classic beauties have become the ultimate symbol of luxury on wheels. From their humble beginnings of $18,000 in the '60s to now commanding a price that could rival a small castle, these cars are not just a mode of transportation, but a status symbol that screams "I've made it." Insuring one of these prestigious machines may cost a limb or two, but for collectors, the bragging rights of owning the 'Holy Grail' of classic cars is priceless.

References