There are a lot of expensive cars out there. Some are new and some are vintage. But neither are as costly as this historic hot rod. A 1962 Ferrari 250 GTO is heading to auction this week and it’s carrying a $56.8M asking price.
If it achieves that auction price it will be the most expensive car ever sold. The auction is being handled by the classic Ferrari specialists at Talacrest.
What Makes This Car So Special
The Ferrari 250 GTO was designed by Giotto Bizzarrini and Sergio Scaglietti in 1962. This particular car--chassis number 3387GT--was the second off the production line and the first to ever enter a race. Only 39 were produced during the model’s lifetime between 1962 and 1964.
This Ferrari’s first race was the 1962 Sebring where Phil Hill and Olivier Gendebien finished 2nd overall and 1st in class during the 12 hour race. Later that year this car went on to race at the 30th Annual Le Mans, driven by Bob Grossman and George Roberts, Jr., placing 6th overall and 3rd in class.
Over the next few years this Ferrari would participate in many races before finally being sold in 1968 to Dayton, Ohio resident Bernard Stayman for the whopping sum $2,500.
Besides the limited production, this is the most highly sought after Ferrari for its design and engineering, ranking first on Motor Trend Classic’s "Greatest Ferraris of All Time."
In addition to all of the races, this vehicle has been trading hands and showing off in exhibitions for the last 42 years. There have been some repairs and paint jobs--as tend to happen with race cars. While this car once lived with a red paint coat accented with a white and blue stripe, its current color NART blue metallic with white stripe was applied more recently in 1997.
The Most Expensive Car To Sell Before
If this Ferrari 250 GTO is going to break the record for most expensive car sold at auction, then you might be wondering about the previous record holder. Well, before this, the most expensive car at auction was--you guessed it--a 1962 Ferrari 250 GTO.
In 2014 at Bonhams Quail Lodge Auction, chassis number 3851GT sold for a then-record of $38.1M as part of The Maranello Rosso Collection. The collection, comprised of ten collectible Ferraris, fetched a combined total of nearly $66M.
1962 Ferrari 250 GTO / Maranello Rosso Collection. [Image: Bonhams]Why It Matters To Us
Everyone is attracted to a well designed and powerful sports car. And most people are thrilled at the prospect of a car earning millions of dollars at sale. We are too. It’s exciting to think about a group of people creating such a beautiful and timeless machine and to see it still being appreciated all these years later.
Our connection comes into play with regards to the Maranello Rosso Collection auction with Bonhams in 2014. They asked us to create a custom keychain to commemorate the special event. It started with our Genuine Leather Custom Key Fob which is one of our many high quality key rings that would be appropriate to match the level of the event.
The end result was a stated black leather fob featuring a chrome on red background metal medallion with the Ferrari 250 GTO profile in center. It’s a beautiful contrast of colors and materials evocative of the leather and metal of the car itself.
It was a privilege to contribute and have our work be a little piece of history being made. We’re excited to see another one of these rare collectible automobiles at auction again.
Custom Leather Key Fob Designed for Bonhams Maranello Rosso Collection Auction
