Mexican Media Brands
Classic Ferrari GTO Sells for Record $69 Million
A 1963 Ferrari 250 GTO has been sold for a record £52 million ($69 million), shattering the previous known top price: £31 million ($41 million) for another Ferrari 250 in 2014.
Share
A 1963 Ferrari 250 GTO has been sold for a record £52 million ($69 million), shattering the previous known top price: £31 million ($41 million) for another Ferrari 250 in 2014.
Only 36 Ferrari 250 GTOs were built between 1962 and 1964. The record-selling model is one of a handful painted silver with a distinctive yellow stripe across the hood. The car—known for winning the 10-day Tour de France road rally in 1964 and finishing fourth in the 1963 24 Hours of Le Mans endurance race—has competed in dozens of races over the years. Notably, it has never been in a crash.
The classic Ferrari was refurbished by U.K. restoration specialist DK Engineering in the 1990s but is still powered by its original 300-hp 3.0-liter V-12 engine. When it was introduced in 1962, the 250 GTO cost $18,000 in the U.S. Ferrari historian Marcel Massini predicts GTO prices will climb to more than $100 million within five years.
Ferrari accounts for seven of the top 10 most expensive cars ever sold, according to Autocar. The highest priced non-Ferrari, a Mercedes-Benz W196 race car, sold for $32 million at auction in 2013 and now ranks fourth on the list.