RM Sotheby’s group held a historic auction in which an iconic 1962 Ferrari 250 GTO sold for an astounding $51,705,000 USD, setting a new record. This sale surpasses the firm’s initial projection that bids would rise above $60 million, making it the highest price ever paid for a Ferrari from Maranello at public auction. Notably, the factory still owns this specific 250 GTO, making it the only one from the first series.
More than just a gem for collectors, the recently sold Ferrari 250 GTO has an illustrious racing past. With a larger Colombo 4.0L V12 engine, it was successful from the start of its career, winning a class at the 1962 Nurburgring 1000 miles. It was then entered in the 24 Hours of Le Mans that year, with Mike Parkes and Lorenzo Bandini at the wheel.
During the 24 Hours of Le Mans, the car faced challenges, taking a detour into a gravel pit and eventually dropping out of the race during the sixth hour due to engine trouble. Following its racing stint, Ferrari brought the car back in May 1963 for conversion into a 3L GTO before selling it to Pietro Ferraro. After passing through various hands, it landed in the possession of an Ohio collector in 1985, who retained ownership until the recent record-breaking auction.
The sale of the 1962 Ferrari 250 GTO not only cements its status as a coveted racing legend but also highlights the enduring appeal and investment value of vintage Ferraris. This record-breaking transaction adds another chapter to the car’s storied history, making it a symbol of automotive excellence and a prized possession for its fortunate new owner.