In August 2014, 1962 Ferrari 250 GTO Berlinetta sold for $38,115,000 at Bonhams Quail Lodge Auction in Carmel, California. This sale set a new world auction record, underscoring the enduring allure and investment value of this iconic model.
The Ferrari 250 GTO: A Legacy of Excellence
Between 1962 and 1964, the Ferrari 250 GTO was created meaning for the FIA’s Group 3 Grand Touring Car category. The ‘250’ refers to the displacement of each cylinder, in cubic centimeters, while the ‘GTO’ stands for Gran Turismo Omologata. Which means “Grand Touring Homologated” in Italian. Only 36 units were built during the model’s original production run. Making the 250 GTO one of the world’s most famous collector cars.
Chassis 3851GT: A Storied Past
The chassis number 3851GT identifies the GTO that sold for a record price in 2014. The 19th GTO ever made was delivered on 11 September 1962 and was initially painted a metallic grey colour with French tricolour stripes. Featuring the chassis number 3851GT, it was owned by French racer Jo Schlesser. Schlesser and French ski champion Henri Oreiller came second in the 1962 Tour de France Automobile with this car. But later that same year Oreiller crashed the car fatally in a race near Paris. Later, Ferrari fixed the GTO after the accident and sold it to Paolo Colombo in 1963. After several changings of hands, it was acquired in 1965 by Fabrizio Violati. Who kept it until his death in 2010.
Monterey Car Week: The Prestigious Backdrop.
The organizer specified in a statement, the auction took place during Monterey Car Week. An annual California event involving various car-related activities. Among these events, The Quail, A Motorsports Gathering, is the one that showcases rare cars. Bonhams holds its auctions during this week to attract the rich from all over the world.
Factors Driving the Record-Breaking Sale
Many things led to the history-making auction price of chassis 3851GT.
- Rarity: With only 36 units produced, the 250 GTO’s scarcity significantly enhances its value.
- Racing Pedigree: The car’s extensive competition history, including a notable finish in the 1962 Tour de France Automobile, adds to its desirability.
- Provenance: Long-term ownership by Fabrizio Violati and its inclusion in the esteemed Maranello Rosso Collection provided a traceable and esteemed lineage.
- Condition: Described as more a maintained car than a restored car, the vehicle retained much of its original integrity, appealing to discerning collectors.
The 250 GTO’s Ascending Value.
The sale of the 3851GT chassis in 2014 registered a milestone, but the value of Ferrari 250 GTO kept climbing. In 2018, another 1962 250 GTO (chassis 3413GT) sold for $48.4 million at an RM Sotheby’s auction in Monterey, setting a record price for the most expensive car sold at auction. 1963 models referred to as 250 GTO’s sold for $70 million in 2018. Privately, they have sold for higher value.
The Enduring Appeal of the 250 GTO
250 GTO From Ferrari is pretty car with great engineering skills and rich racing heritage which ensures it as the greatest car of all time. Its record-breaking auction performances demonstrate not only the car’s innate worth but also the fervor and admiration it evokes among collectors around the globe.
