Ferrari 250 GTO sells for a record $51.7 million at auction; here’s why

A 1962 Ferrari 250 GTO has been offered on the RM Sotheby’s public sale for a hammer value of $51.7 million, effectively under the preliminary estimate of $60 million. Nevertheless, it nonetheless tops the listing of the most costly Ferraris offered at public sale.

Ferrari 250 GTOs typically fetch astronomical costs at auctions. This 1962 instance although was a bit particular. It was the one Tipo 1962 campaigned by the manufacturing facility racing workforce. It completed first in school on the 1952 Nurburgring 1000 Kilometers. It additionally raced on the 24 Hours of Le Mans however did not take the checkered flag resulting from overheating points.

This 250 GTO was acquired by its present proprietor in 1985. Since then, it has been in the US and has featured in varied classic racing occasions, and even gained ‘Better of Present’ on the 2011 Amelia Island Concours d’Magnificence. The automobile was initially powered by a 4.0-liter V12, which was later swapped out for a 3.0-liter engine by the manufacturing facility.

That being stated, the most costly automobile to ever promote at public sale stays the Mercedes 300 SLR Uhlenhaut Coupe, which fetched $143 million in 2022.

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Supply: RM Sotheby’s

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