The 70 million dollar Ferrari!

The 70 million dollar Ferrari!

The Ferrari 250 GTO, a car to win GT-races originally, but today one of the most expensive cars in the world. The number in the name stands for the contents of the cylinder next to which ‘GTO’ stands for Gran Turismo Omologato.

The 250 GTO was launched in the United States in 1962 and cost $18,000 at the time. Perhaps you think I only bought one at that time? The limited specification of 39 pieces and also personal consent of founder and owner Enzo Ferrari made this almost impossible.

Development and Design of the Ferrari 250 GTO

So the GTO was originally meant to win GT-races, yet Ferrari seemed to have developed a car for the ordinary road. At that time every racing car got an even chassisnumber although the “normal” cars got an odd number. This was also the case with the Ferrari 250 GTO. Unlike most Ferrari’s, the 250 GTO wasn’t designed by a specific person.

Apart from this the 250 GTO was a typical Ferrari for its time. The car contained a hand-welded tubular frame, a-shape front suspension, disc brakes, active rear axle and Borrani spoked wheels. As a car aficionado you might ask what the 250 GTO owes its value to when looking at the interior. The speedometer was missing and many buttons and levers came directly from a Fiat 500. There was even a rumour in the corridors that employees’ overalls were used to upholster the seats.

Ferrari 250 GTO and Racing

Since only 39 pieces of the Ferrari 250 GTO have been produced, the car would actually be refused to participate in the GT championships. In spite of that, the car would still be allowed. Enzo Ferrari had supposedly registered the 250 GTO as a further development on the 250 GT SWB, which meant that the minimum of 100 cars produced was still reached.

In 1962 the first race in the 250 GTO was driven by the American Phil Hill during the 12 hours of Sebring. Ferrari was surprised afterwards that they would make it this far with an engine at the front. Ferrari finished second in the overall standings. However, this classification quickly disappeared and with that the Ferrari 250 GTO was the last car that could drive in the GT-class in the front.

Ferrari 250 GTO – Collectorsitem

Nobody could have predicted that today’s Ferrari 250 GTO is the $70 million car. In the eighties, the car already increased in value tremendously and 14.6 million dollars was deposited at its top for this car. In 2008 this record was broken after which the 250 GTO was sold for 28.5 million dollars.

In the following years some more Ferrari 250 GTO’s were sold for record amounts, like the gray Ferrari 250 GTO which was sold for a record amount of 70 million dollar. Are you the one who wants to have this special car with a value of 70 million dollars on your wall? Don’t hesitate and take a quick look in our webshop!

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