Ferrari (NYSE:RACE) 250 GTO to Auction at Monterey Car Week in August

Ferrari (NYSE:RACE) 250 GTO to Auction at Monterey Car Week in August

Ferrari (NYSE:RACE) 250 GTO to Auction at Monterey Car Week in August

$RACE, $BID

A 1962 Ferrari 250 GTO is coming up for sale, at RM Sotheby’s (NYSE:BID) Monterey sale this August. It carries a pre-auction estimate of $45-M.

All original 250 GTOs built between Y 1962 and 1964 have survived, and they are all worth very big money.

This 250 GTO, s/n 3413 was a works car driven by American racer Phil Hill at the 1962 Targa Florio road race.

It is #3 of the Series 1 36-unit production run.

The car won numerous races in the hands of its 1st private owner, Edoardo Lualdi-Gabardi, who won the Italian National GT championship with it.

Later, Gianni Bulgari of Bulgari jewelry raced the car, and it was never crashed, and finished all races that it started. In 1964 s/n 3413 was fitted with a new Series II specification body by Scaglietti.

This 250 GTO was last sold in Y 2000 for $7-M, and it has been seen at many classic events and vintage races.

RM Sotheby’s says the car has been maintained in “highly original” condition, and it will be interesting to see how it performs at the auction, compared to a previous 250 GTO auction record of $38-M in Y 2014.

RM Sotheby’s estimate at $45-M for #3413 makes it the most valuable car ever put up for auction.

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 143.12  20 June 2018 -2.33 144.48 145.1 143.01 288,672
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Bullish (0.27) Neutral (0.20) Neutral (0.22) Bullish (0.39)

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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