The Ferrari 250GTO is the World’s Most Sought After Car
$RACE
Ferrari 250 GTO is most sought-after classic or vintage car due to its looks, rarity and performance
Onls 36 were built by Italian manufacturer and this car, a Y 1962 Series 1 model was 2nd to roll off the line line at Marenello. It raced at Le Mans and Sebring, 53 yrs ago, it is still fast, fast, fast. Top speed 170 mph.
It was a Ferrari factory test car before being sold to Luigi Chinetti and his North American Racing Team (NART).
This car, s/n 3387, is now on the market for the 1st time in about 20 years at $55-M and resides in the UK. Normally, private sales of these cars are not made public by the owners or their agents.
This was the 1st GTO to be raced, with Phil Hill driving it to 1st in its class and 2nd overall at the 12-hour Sebring race.
The car was then raced at the 1962 Le Mans 24-Hour race where it finished 3rd in its class and 6th overall. Between Y’s 1962 and 1965 it was campaigned at a series of lesser club races.
In Y 1969, it was sold for $5,400 and then again, later that year, for $11,000..
The car changed hands in Y 1975 when it was bought by a Mr Steve Griswold for $13,000 who restored the car before selling it in Y 1978 for $125,000.
The car is said to be presently owned by Bernard J. Carl, of Washington, DC.
Bernard J. Carl started out as a real estate attorney. In the late 1980’s he made a name for himself in finance after becoming one of the leading experts on mortgage-backed securities on Wall Street.
He worked for Solomon Brothers before being hired away by billionaire Texas investor Robert M. Bass. Today, Carl is the co-founder of his own firm, Brazos Europe Inc.
Over the last 10 yrs, Brazos has invested in everything from Canadian Crude Oil, to Nat Gas in Chile, to a French luxury linens maker.
In Y 2006, Brazos set up a $300-M fund to specifically acquire family-owned luxury businesses in France.
Mr. Carl purchased his GTO in September 1997 for an undisclosed price. It is known that the previous owner, Dr. Ron Finger of Florida, turned down $3.75-M at some point in the late 1990’s and specifically wanted $4-M.
The car has has been shown at numerous concours events around the world and was recently on display in a museum.
| Symbol | Last Trade | Date | Change | Open | High | Low | Volume |
| NYSE:RACE | 53.53 | 10 November 2016 | -0.68 | 53.46 | 54.21 | 52.83 | 750,800 |
| HeffX-LTN Analysis for RACE: | Overall | Short | Intermediate | Long |
| Bullish (0.37) | Neutral (0.15) | Bullish (0.42) | Very Bullish (0.54) |
Stay tuned…
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Paul Ebeling
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