1962 Ferrari 250 GTO Is Estimated To Bring In Excess Of $45 Million At The Auction

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Added in: Ferrari

If you thought that the $1.8 Million Harley-Davidson Blue Edition was expensive, what would you say about paying over USD 45 million for a Ferrari? No, it’s not a typo, and that figure is not missing a decimal point. RM Sotheby has announce that it has secured a 1962 Ferrari 250 GTO, perhaps the ultimate collector car, for what is set to be its most exciting Monterey auction offering to date.

Ferrari’s 250 GTO was effectively the final evolution of the marque’s famous 250 model, which debuted in 1953 and ended with the last GTOs in 1964. In total, a mere 36 examples of the 250 GTO were ever produced, all of which have survived. Widely considered the most beautiful Ferrari design, the model was one of the most successful road/racing cars that the marque ever built, claiming overall victory or 1st in class in nearly 300 races worldwide.

1962 Ferrari 250 GTO (1)

Decades down the road, the Ferrari 250 GTO has become the car collector’s “holy grail”, thanks not only to its incredible pedigree, but to a group of French collectors who organized the first gathering of GTO owners in 1982. Occurring every five years since its inception, the meeting is a glorious driving and dining tour across the country of their choosing, and the only entry into this exclusive club is ownership; making the GTO the hottest ticket in the collector car world.

The Ferrari 250 GTO on offer, chassis no. 3413 GT, is the third of the 36 examples built, and began its life as a Series I car. Under Ferrari factory use, the GTO was a test car driven by Phil Hill for the 1962 Targa Florio road race. The car was then sold to its first owner, one of Ferrari’s most favored privateer customers, Edoardo Lualdi-Gabardi. The Italian gentleman racer entered the GTO in 10 races in 1962, winning all but one (in which he placed 2nd in class) and securing him the Italian National GT championship that year. Lualdi-Gabardi’s incredible track success with the early GTO, right out of the gate, contributed significantly in cementing what would become the GTO legend and legacy as known today.

1962 Ferrari 250 GTO (5)

Lualdi-Gabardi received a second GTO in 1963 and sold chassis no. 3413 to then race car driver Gianni Bulgari, who went on to lead the renowned Bulgari jewelry company from the 1960s to the 1980s. Under both Bulgari and subsequent owner Corrado Ferlaino’s ownership, the GTO handily won its class in the 1963 and 1964 Targa Florio. The car contested a total of 20 races in period, never involved in an accident, and not once failing to finish. A rare case and incredible feat for any race car, it retains its original engine, gearbox, and rear axle, as well as its factory Series II body, in which it was clothed by Carrozzeria Scaglietti in 1964.

Following its racing career, the GTO has passed through an unbroken chain of ownership that includes some of the most prominent Ferrari collectors in the hobby. In 2000, it was acquired by current owner Dr. Greg Whitten, Chairman of Numerix, avid collector car enthusiast and former chief software architect at Microsoft. Under Dr. Whitten’s ownership, the GTO has competed in vintage events around the world over the last two decades, as well as four of the lauded GTO anniversary tours. Wonderfully maintained in highly original condition, the GTO is estimated to achieve in excess of USD 45 million in Monterey, making it the most valuable motor car ever offered at auction.

Watch the 250 GTO on the track with current owner Dr. Greg Whitten behind the wheel here:

Check out more images of the Ferrari 250 GTO:

1962 Ferrari 250 GTO (7)
1962 Ferrari 250 GTO (6)
1962 Ferrari 250 GTO (5)
1962 Ferrari 250 GTO (4)
1962 Ferrari 250 GTO (3)
1962 Ferrari 250 GTO (2)
1962 Ferrari 250 GTO (1)