A 1962 Ferrari 250 GTO Sells For A Record-Breaking $51.7 Million, Cementing Its Status As The Holy Grail Of Sports Cars

The Ultra-rare Sports Car Smashed Auction Records, Reinforcing Its Position as One of the World's Most Valuable Automobiles

A New Chapter for a Legendary Vehicle

According to Gord Duff, Global Head of Auctions at RM Sotheby's, the record-breaking $51.7 million sale of a 1962 Ferrari 250 GTO "highlights the unparalleled stature of this Ferrari as one of the world’s most desirable objects." He added that "this transaction adds a new chapter to a vehicle with an unmatched legacy." Only 39 examples of the iconic 250 GTO were built between 1962-1964, making any opportunity to purchase one exceptionally rare.

Racing Pedigree And Iconic Status

Chassis number 3765 is particularly unique, as it is one of only 34 built with Tipo 1962 coachwork and the only example raced by the elite Scuderia Ferrari team in legendary competitions like the 24 Hours of Le Mans. According to the auction house listing, this "remarkable in-period racing pedigree" and "unique build provenance" cement its position as "among the model’s most singular examples."

"Claiming unique build provenance and a remarkable in-period racing pedigree, this spectacular GTO is among the model’s most singular examples," the auction house wrote in the listing, which billed the sale as "an extraordinary chance to acquire the Holy Grail of the sports car pantheon, one that should be relished for the opportunity it is."

Museum-Quality Significance

The 250 GTO's rarity and storied history have resulted in numerous features in magazines dedicated to Ferrari over the decades. But according to Sotheby's, "the public availability of such a singular GTO may never repeat itself within our lifetime." With just 39 examples ever produced and few changing hands, each one attains a museum-quality significance, cementing the 250 GTO as the motoring equivalent of iconic masterworks.

The Most Valuable Ferrari

While this 1962 250 GTO is now the priciest example ever sold at auction, another still holds the overall record for the most valuable Ferrari. In 2018, car collector David MacNeil purchased chassis number 4153 GT for $70 million, a sum that highlights the 250 GTO's uniqueness amongst even the most prized vehicles.

At the time, James Knight, group motoring chairman at UK auction house Bonhams, likened 250 GTOs to some of the most exclusive artworks in the world. "The Ferrari 250 GTO is the motoring market’s equivalent of Van Gogh’s ‘Sunflowers’ and a talisman for any top-end collection," said Knight. "And the GTO that recently sold is one of the best five extant."

14 Ara 2023 - 16:27 - Classic Cars

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