Ferrari 250 GTO Sells For A Totally Ludicrous $52 Million
10-03-13, 05:05 PM
#1
Loves Snickerdoodles!
Thread Starter
Ferrari 250 GTO Sells For A Totally Ludicrous $52 Million
Hey! Hey you! You said you wanted to spend $52 million on something, right? Instead of buying those 1,700 Miatas you wanted, just buy the world's most expensive car, a Ferrari GTO! That's a sound decision.
The Ferrari GTO in question recently traded hands privately, with the sale price being independently confirmed to Bloomberg by three different sources. This record setting car is chassis number 5111, which has had an impressive competition history, winning the 1963 Tour de France road race.
It has passed through a number of owners, including Donald Fong, a Ferrari mechanic in Georgia who was at the center of our investigation into an allegedly stolen Ferrari 330 LMB.
When will the GTO hit its plateau? They've continually gone up in value over the last few years. And not just a little bit of value. It's basically been multi-million dollar jumps. When will one hit $100 million? It can't be that far off anymore.
The Ferrari GTO in question recently traded hands privately, with the sale price being independently confirmed to Bloomberg by three different sources. This record setting car is chassis number 5111, which has had an impressive competition history, winning the 1963 Tour de France road race.
It has passed through a number of owners, including Donald Fong, a Ferrari mechanic in Georgia who was at the center of our investigation into an allegedly stolen Ferrari 330 LMB.
When will the GTO hit its plateau? They've continually gone up in value over the last few years. And not just a little bit of value. It's basically been multi-million dollar jumps. When will one hit $100 million? It can't be that far off anymore.
*source
http://jalopnik.com/ferrari-250-gto-...lli-1440636875
10-03-13, 10:16 PM
#4
I think old Ferrari values are in a bubble right now. If you watch the collector car market over decades, stuff gets hot, then prices drop, prices go up, then they go down.
Give it another 20 years when all the people who were alive in 1963 are gone, I guarantee the value will be less than today.
Also saying that the economy can have an impact on prices. Remember the stupid money hemi powered mopars were getting pre 2007? You're lucky to get half to a quarter of that in today's market. Although with something like a $53 million Ferrari GTO, 1/2 of its value is still a staggering $26.5 million.
Give it another 20 years when all the people who were alive in 1963 are gone, I guarantee the value will be less than today.
Also saying that the economy can have an impact on prices. Remember the stupid money hemi powered mopars were getting pre 2007? You're lucky to get half to a quarter of that in today's market. Although with something like a $53 million Ferrari GTO, 1/2 of its value is still a staggering $26.5 million.
10-06-13, 11:25 AM
#5
I think old Ferrari values are in a bubble right now. If you watch the collector car market over decades, stuff gets hot, then prices drop, prices go up, then they go down.
Give it another 20 years when all the people who were alive in 1963 are gone, I guarantee the value will be less than today.
Also saying that the economy can have an impact on prices. Remember the stupid money hemi powered mopars were getting pre 2007? You're lucky to get half to a quarter of that in today's market. Although with something like a $53 million Ferrari GTO, 1/2 of its value is still a staggering $26.5 million.
Give it another 20 years when all the people who were alive in 1963 are gone, I guarantee the value will be less than today.
Also saying that the economy can have an impact on prices. Remember the stupid money hemi powered mopars were getting pre 2007? You're lucky to get half to a quarter of that in today's market. Although with something like a $53 million Ferrari GTO, 1/2 of its value is still a staggering $26.5 million.
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10-07-13, 10:17 AM
#8
Lexus Fanatic
Owning a GTO is literally owning one of the most exciting cars in history and THE most exciting Ferrari in the hay day of Ferrari. These cars dominated at LeMans and around the world. People who have money and understand automotive history and the significance of this car will realize its totally worth it. Plus its the kind of car that one can add to the collection that will blow the mind of his billionaire friends. Less than 40 of these cars were made
10-07-13, 11:41 AM
#9
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Give it another 20 years when all the people who were alive in 1963 are gone, I guarantee the value will be less than today.
i guess a lot of people are going to die at the age of 69 or less..sucks
Give it another 20 years when all the people who were alive in 1963 are gone, I guarantee the value will be less than today.
i guess a lot of people are going to die at the age of 69 or less..sucks
10-07-13, 01:57 PM
#10
Lexus Fanatic
That is wrong to be honest. People who actually understand and know the automotive history will always know. There are very few cars like a Ferrari GTO ( other would be a Jaguar D type, or AM DBR1). These cars have racing pedigree and have made history with their wins. For the wealthy who collect cars its all about owning that piece of history.
10-07-13, 05:05 PM
#11
That is wrong to be honest. People who actually understand and know the automotive history will always know. There are very few cars like a Ferrari GTO ( other would be a Jaguar D type, or AM DBR1). These cars have racing pedigree and have made history with their wins. For the wealthy who collect cars its all about owning that piece of history.
07-29-14, 11:20 AM
#12
new record coming?
m.autoblog.com/2014/07/29/ferrari-250-gto-sale-germany-64-million/?a_dgi=aolshare_facebook
m.autoblog.com/2014/07/29/ferrari-250-gto-sale-germany-64-million/?a_dgi=aolshare_facebook
1962 Ferrari 250 GTO for sale in Germany at $64 million
Prices keep climbing for the Ferrari 250 GTO with virtually no end in sight. In 1969 one sold for just $2,500, but by the 1980s they were trading for hundreds of thousands, then millions, then tens of millions to the point that the last last year, one was reported to have changed hands at $52 million. But now there's a GTO for sale in Germany that could eclipse even that gargantuan price tag.
Ferrari made 39 examples of the 250 GTO between 1962 and 1962, and the item listing on mobile.de doesn't give much in the way of specifics as to which exactly we're looking at. But last we checked, there were only two GTOs in Germany, and the other one was silver. That leaves chassis number 3809GT, which was delivered new in '62 to Switzerland and participated in numerous endurance races and hillclimb events throughout the early 60s. 3809GT has been owned until now by one Hartmut Ibing, who bought it in 1976 when values were in the tens of thousands, not tens of millions. Given how his asset has appreciated so dramatically, and with less than 10,000 miles on the odometers over 52 years, we could understand how Ibing would want to cash out.
Of course we could be mistaken and we could be looking at an entirely different example ? the vast majority were, after all, painted red and fitted with blue upholstery just like this one ? but either way, we're looking at a price tag of 47.6 million euros. That's nearly $64 million at today's rates, inclusive of Germany's 19 percent VAT rate that adds a staggering $10 million in taxes to the pre-tax price of 40 million euros, which comes in under $54 million but would still be the most ever paid for a GTO (or really, just about any car ever made).
If that's too rich for your blood but you're still in the market, you could try your luck with the one
Prices keep climbing for the Ferrari 250 GTO with virtually no end in sight. In 1969 one sold for just $2,500, but by the 1980s they were trading for hundreds of thousands, then millions, then tens of millions to the point that the last last year, one was reported to have changed hands at $52 million. But now there's a GTO for sale in Germany that could eclipse even that gargantuan price tag.
Ferrari made 39 examples of the 250 GTO between 1962 and 1962, and the item listing on mobile.de doesn't give much in the way of specifics as to which exactly we're looking at. But last we checked, there were only two GTOs in Germany, and the other one was silver. That leaves chassis number 3809GT, which was delivered new in '62 to Switzerland and participated in numerous endurance races and hillclimb events throughout the early 60s. 3809GT has been owned until now by one Hartmut Ibing, who bought it in 1976 when values were in the tens of thousands, not tens of millions. Given how his asset has appreciated so dramatically, and with less than 10,000 miles on the odometers over 52 years, we could understand how Ibing would want to cash out.
Of course we could be mistaken and we could be looking at an entirely different example ? the vast majority were, after all, painted red and fitted with blue upholstery just like this one ? but either way, we're looking at a price tag of 47.6 million euros. That's nearly $64 million at today's rates, inclusive of Germany's 19 percent VAT rate that adds a staggering $10 million in taxes to the pre-tax price of 40 million euros, which comes in under $54 million but would still be the most ever paid for a GTO (or really, just about any car ever made).
If that's too rich for your blood but you're still in the market, you could try your luck with the one
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