Ferrari 250 GTO fetches more than $50 million at auction – DW – 11/14/2023

A 1962 Ferrari 250 GTO became the second most expensive car sold at auction on Monday. It brought $51,705,000 (about €48,300,000) at Sotheby’s in New York.

The classic crimson body, which was once a Ferrari race car but was later restored for road use, has been the property of an American collector for the past 38 years.

RM Sotheby’s, the auction house’s luxury car arm, expected a slightly higher selling price — in the region of $60 million.

It did not identify the buyer Monday for the car, which it described as “a speed machine so famous that it qualifies as the definition of legend.”

Sotheby’s expected a higher selling price of up to $60 millionPhotograph: Angela Weiss/AFP

A working Scuderia model, it has raced at the Nürburgring and Le Mans

The car, chassis number 3765, was initially built for the race track by Ferrari and fitted with a larger experimental 4-litre engine.

“As one of 34 GTOs built using the 1962 Tipo chassis, and the only example originally equipped with a 4-litre engine, chassis number 3765 has been featured several times in Ferrari-focused publications Jumping horse And Cavallinoand her racing career has been documented in magazines such as Drawing sports cars, Road pathAnd motorsport, Sotheby’s said about as much.

It finished second in the 1962 1,000-kilometre endurance race on Germany’s Nürburgring Nordschleife, as well as competing in that year’s legendary 24 Hours of Le Mans, when the team was forced to withdraw due to engine failure. According to RM Sotheby’s.

Chassis 3765, with Tipo bodywork by Scaglietti, was later restored and converted to road going specifications with a standard 3-litre engine where it was sold to private ownership in the United States.

Sotheby’s said ownership changed hands several times before ending up with an Ohio art collector, the seller on Monday.

The 1960s battles between Ferrari 250 GTOs and Ford GT40s at Le Mans became a legendary endurance racing story of the era and help explain the car’s continued high prices in the United States and Europe.

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The 250 GTO’s popularity was also enhanced thanks to the famous Hollywood film “Ferris Bueller’s Day Off”, in which the model featured heavily.

The owner of the 250 GTO in the movie “Ferris Bueller’s Day Off” was said to have never driven it, but would occasionally wipe his precious car with diapersPhoto: Image Alliance/United Archives/IFTN

Not the most expensive auction ever, but…

For decades, the 250 GTO was widely considered the most expensive car in the world, although many recent sales have been private with prices reported or just rumours.

But that record was eclipsed last year by the auction of a 1955 Mercedes 300 SLR Uhlenhaut coupe..

The Uhlenhaut fetched €135 million, or $144 million at today’s exchange rate, which is believed to be at least $60 million more than any previous private car sale.

However, the completely unique nature of the model in question – the result of its heroic role in the deadliest racing accident of all time – explains the meteoric selling price in this case.

Only two road-ready 300 SLR Uhlenhaut Coupe were ever built. A racing prototype was involved in a major accident at the 1955 24 Hours of Le Mans. It rolled into the spectator area, as did its engine and other large pieces of wreckage, killing more than 100 spectators and injuring many others.

Mercedes then scrapped its plans to build more SLR 300 hardtops for the road in the wake of the tragedy, and never sold the two road-built models it had built – until a shocking 2022 secret auction.

The most expensive car in the world – Mercedes 300 SLR

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Meanwhile, the 250 GTO can continue to claim to be the most expensive road car ever mass-produced and sold to the public. Another sold at auction for nearly $44 million in 2018, and private sales are rumored to have reached $60 million or $70 million.

milli mish/dirham (AFP)

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