Did you know that the classic Ferrari 250 GTO is one of the most expensive car in the world? As reported by many sources, in 2014 a Ferrari 250 GTO sold for $38.1 million at an auction exhibition. And today, as a Ferrari 20 GTO was offered for more than $57 million. What a price.
The 250 GTO was designed to race. But while competition rules stipulated that 100 examples needed to be built, Ferrari somehow got away with making only 39. This rarity with the GTO’s beauty and success as a racer to make it the most valuable Ferrari – indeed, the most valuable car – at any time sold at auction.
Ferrari 250 GTO is powered by 3.0 liter Tipo 168 V12 engine and its claimed can deliver 300 HP (220 kW). Hindsight is 20: 20 perspective and although race vehicles are now treated with respect within their retirement, it has not always been so. Once a racing car’s racetrack competition falls away, its benefit also drops away and for much of the 1970s, a GTO could be procured pretty cheaply. Legend has it a GTO changed hands in 1969 for $2500.
Once vintage racing commenced to become popular though, all those old racing cars came out of the shed and the price began to appreciate rapidly and the conflicting issues of source and demand have conspired to drive the price ever upwards since. Many of the cars on our top 100 most valuable automobiles were abandoned during their very own lifetime, one supposedly dumped on the Hollywood Interstate. That’s Graham Hill (Damon’s dad) punting a GTO in period above.