Ferrari’s (NYSE:RACE) Classic 250 GTO’s Are the World’s Most Expensive Cars

Ferrari’s (NYSE:RACE) Classic 250 GTO’s Are the World’s Most Expensive Cars

Ferrari’s (NYSE:RACE) Classic 250 GTO’s Are the World’s Most Expensive Cars


Early this month there was a record-breaking classic car sale, it was 1963 Ferrari 250 GTO s/n 4153 the most expensive car ever sold.

For now, that is…

Ferrari 250 GTO s/n 4153 was bought by American entrepreneur David MacNeil, founder of  WeatherTech automotive. Mr. MacNeil’s passion for cars is well known, as WeatherTech is the headline sponsor for the IMSA SportsCar series and his son, Cooper, often drives WeatherTech-sponsored race cars in various series including IMSA and Ferrari Challenge.

WeatherTech is the new headlining sponsor of Laguna Seca Raceway, following Mazda’s decision to not renew its sponsorship.

Over the last several years, the Ferrari 250 GTO has establish itself as the premier Tier 1 collectible car ever.

Just 33 Series 1 cars were built, plus 3 more Series 2 cars with revised bodywork and 3 more 330-powered GTOs, for 39 total along with a reported 3 xtra bodies just in case of major shunts on the track

The car’s legacy is well-known.

The 250 GTO was the ultimate evolution of Ferrari’s front-engined 250 GT series which had begun in the mid 1950’s and achieved much success both on the race track and on the road.

The 250 GT series put Ferrari on the map as an established automaker, not just a racing outfit which sold a few road cars so that Enzo Ferrari could afford to race.

However, the 250 GTO was made for a single purpose: to contest and win the 1962 FIA GT 3.0-liter international racing class.

Which it did.

Then it did it again in Y 1963, besting competition in the form of Jaguar’s new E-type Lightweight and the AC Shelby Cobra.

The 250 GTO was eveloped by the Ferrari engineering team headed by Giotto Bizzarinni, with bodies produced by Scaglietti in Modena and final production at the Maranello factory, the 250 GTO represented the last hurrah of front-engined cars racing in the top classes in international competition.

Its successor, the 250 LM, was a smaller, mid-engined racer, a world apart from the GTO.

Over the past 10 years or so, there have been several 250 GTOs bought and sold.

In Y 2012, at least three GTOs traded hands in private treaty transactions subject to strict NDAs:

  1. Chassis #4675 was bought by in the UK by Chris Evans in Y 2010 for approximately $17-M and resold for a rumored $25-M.
  2. Craig McCraw bought s/n 3505, an ex-Stirling Moss car in light green, for $35-M in Y 2012
  3. Chassis #5095 was said to be sold in England for around $32-M that same year.
  4. In Y 2013, s/n 5111GT sold privately by a Connecticut collector brought a reported $52-M, making it the most expensive vehicle ever sold, at the time and the world’s finest example of the series.

The last 250 GTO to sell at public auction, at the 2014 Bonhams Quail Lodge sale, during Monterey Car Week, was a Y 1962 example, s/n 3851, it sold for about $38-M, it is not a fine example.e.

More recently, s/n 3387, the 2nd GTO built, was offered by Washington state collector Bernard Carl through well-known US-based dealer, Talacrest at a reported $56-M. It is said to have sold in the $50-M.

Back to Mr. MacNeil’s GTO

Mr. MacNeil’s s/n 4153GT is known as 1 of the more desirable cars, as it is believed to retain its original bodywork and engine, both rarities for cars that have been extensively raced, and since its period racing days, it has been campaigned regularly in vintage events since the 1980’s.

The Big Q: Is a $100-M Ferrari 250 GTO just a few years away?

The Big A: Yes, as the odds are favorable, because with values ascending for the best examples, it would appear that GTOs will jump each other in value, as they come to market, privately or publicly.

A $100-M valuation is not out of the Question.

After all, a close look at the collectible fine art market to find paintings, sculptures, and other art works selling for similar amounts and sometimes much more.

Just last year, a restored painting of Jesus Christ called “Salvator Mundi,” said to be produced by Leonardo da Vinci around the year Y 1505 brought in $450-M at a Christie’s auction in New York City.

In Y 1958, several years before the 1st 250 GTO was built, that same painting sold in London for about $60.

And in 1969 I spit blood to sell my 250GTO for $11,000, a used race car, even a Ferrari was a ‘boat anchor”.

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 145.45 19 June 2018 -2.36 145.35 146.28 144.76 424,500
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Bullish (0.32) Bullish (0.35) Neutral (0.22) Bullish (0.39)

Stay tuned…

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