Filed under: Motorsports, Classics, Auctions, Ferrari

Very rarely does a Ferrari 250 GTO come up for sale, and if it does, you’ll probably never hear about it. Most sales are done behind closed doors, and the amount of said transactions are almost never disclosed to the public. That’s just part of the mystique behind the world’s most valuable car, and it’s partially why the cars are so coveted. Just 36 examples were built between 1962 and 1963, each still in existence and easily carrying an eight-figure price tag. A few years ago, a 250 GTO supposedly changed hands for nearly $30 million, but no one can completely confirm the rumor.

We will, however, have more details about the next sale of a 250 GTO. RM Auctions have announced that they will be doing a “private treaty sale” of 1963 250 GTO chassis #4675GT. The car has been in possession of its current Japanese owner, Yoshiho Matsuda, since 1996 (a low point for the value of the car compared to the high prices of the late 1980s), and it has an extensive racing history.

We saw the car at the Pebble Beach Concour d’Elegance back in 2004, and while its Series II bodywork isn’t quite as stunning as earlier models, it’s still an extraordinarily beautiful car. If you’ve got millions of dollars just sitting around, now is the time to break out the checkbook and buy your very own rolling piece of V12-powered Italian artwork. Hit the jump for the official press release from RM or click the high-res gallery below for a beautiful studio shot plus several of our photographs from our 2004 encounter with the car.

Non-Studio Photos by Drew Phillips / Copyright (C)2010 Weblogs, Inc.

[Source: RM Auctions]

Continue reading Ultra-rare 1963 Ferrari 250 GTO up for sale by RM Auctions… will it set a record?

Ultra-rare 1963 Ferrari 250 GTO up for sale by RM Auctions… will it set a record? originally appeared on Ferrari News on Thu, 04 Feb 2010 16:56:00 EST. Please see our terms for use of feeds.

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Few words have greater impact when mashed together than “Ferrari” and “GTO.” While there are rivals at times, the most expensive car in the word for the last three decades has been the original, Daytona Coupe battling, Le Mans winning Ferrari 250 GTO. Designed by Giotto Bizzarrini and raced into history by Phil Hill, few cars wear the moniker “legendary” quite as well. After all, only 39 were ever made.

But, like Leah, there is another. The mighty Ferrari 288 GTO. Developed — like Porsche’s 959 and 961 — for Group B action, few if any cars set our hearts so totally on fire. Know nothings might scoff at the 2.85-liter displacement, but those of us in the know will point to the two turbochargers, two intercoolers and 400 stampeding horses. We might even tell them that if they turned the boost pressure up from 11.6 psi to something a bit higher, 600 hp is well within reach. However, the 288 GTO isn’t, as just 272 examples (though some say 273) were made. Compare that to the 1,315 Ferrari F40s that were built. A car we should point out, that’s basically a 288 GTO with a body kit.

A car widely renowned as the most beautiful of all time is also now officially the most expensive after a model sold for €20 million at an auction, German newspaper Bild reports.
Only 39 models of the legendary Ferrari 250 GTO model were ever built, from 1962 to 1964. It was already considered one of the most valuable cars in the world, previously thought to have been worth approximately €14 million. But with the recent record-breaking sale, it seems the Ferrari 250 GTO is even more valuable than had been thought.

The fall of the hammer that sold the car for a whopping €20 million smashed the world record to bits. The previous holder was a 1961 Ferrari California Spyder which sold for about €7 million in May.

Powered by a three-litre V12 engine, the 302-horsepower Ferrari 250 GTO can reach speeds of 283km per hour.

And just who snapped up the wonderful wheels? An unknown buyer from England…

About Ferrari 250 GTO

Since only 39 250’s were ever built the car is a collector’s ultimate possession. Engineered by specialist Giotto Bizzarrini who was also behind the fascinating Lamborghini V12 engine, Bizzarrini was not only responsible for the chassis, but also for the design, which otherwise would be Pininfarina’s task. He took full responsibility for the car, meticulously sorting out the handling and the aerodynamics making use of Pisa University’s wind tunnel facilities. The apertures and vents on the front are not for show. They help in increasing air-velocity to the engine and aid cooling. Even the cam covers were made of magnesium for the weight reduction purpose. The 250’s styling is talked about even today and so are its interiors. The wooden steering wheel adds a touch of class, but arises curiosity as well!

This car was very very fast. The 250 came in 3-liter and 4-liter variants, and had a top whack of 185 mph, speeds that were considered phenomenal in the 1950’s. The V12 3-liter engine produced 295 bhp and was mounted up front. The GT version of the car spent almost a decade on track dominating races and retired after Ferrari decided to focus on F1.

Source: Bild