The Ferrari 250 GTO Is One Of The Rarest & The Most Expensive Ferrari Ever Sold At Auction

Introduction

1962 Ferrari 250 GTO Side - Source: Ferrari Media

Ferrari is a well-known Italian car manufacturing brand that has created some of the best cars to ever roam the planet. One of their highly sought-after sports cars from then is the Ferrari 250 GTO; it is like an unattainable desire for many car enthusiasts. Only 36 examples were ever built by Ferrari between 1962 and 1964 including 33 with 1962-63 bodywork (Series I) and 3 with 1964 (Series II). The 250 GTO also takes the space in our list of rarest Ferrari cars ever made.

The 250 GTO was built for homologation into the FIA Group 3 Grand Touring Car category. The “250” in the name states the displacement of the cylinders in cubic inches and “GTO” stands for the Grand Tourismo Omologato, which means Grand Touring Homologated in English.

Design and Development of the Ferrari 250 GTO?

1962 Ferrari 250 GTO Front - Source: Ferrari Media

The development of the Ferrari 250GTO was headed by the chief engineer at that time Giotto Bizzirani, however, he and other engineers working on the 250, were fired because of a dispute with Enzo Ferrari. Later the development of the vehicle was handed over to a new engineer Mauro Forghieri, thus the design of the vehicle was a collaborative effort, and no one person was responsible for the design of the vehicle.

The chassis of the car was taken from a 250 GT SWB, with little adjustment in the frame structure and the geometry of the vehicle, to add more rigidity while being lighter than the predecessor. Bizzarrini, an Italian automobile manufacturer, made the design of the GTO more aerodynamic to lower the drag and improve the stability of the vehicle at higher speeds.

Cockpit of the Ferrari 250 GTO?

Most Expensive Ferrari 250 GTO - Source 35mmMan, CC BY 2.0, via Wikimedia Commons

You won’t find any luxury materials that add to the weight of the vehicle. The Ferrari 250 GTO was a purpose-built sports car, that was made with the only purpose of going fast. The interior of the vehicle was upholstered with cloth and no carpet or headliner was installed to keep the weight down.

There was no air conditioning in the car and the only way to keep things cool inside the cabin was supported by external air inlets. One of the eye-catching features in the interior was an exposed metal gated shift pattern, that made sure that you are shifting gears precisely.

Performance and Specification of the Ferrari 250 GTO?

Ferrari 250 GTO Engine - Source Sfoskett~commonswiki, CC BY 2.0, via Wikimedia Commons

Ferrari only manufactures performance-oriented luxury sportscars that are known to alter space and time. The 250 GTO was no exception, and since it is a homologation car, Ferrari built it as a racecar ready to be driven on roads. The GTO houses a Tipo 168/62 Comp. 3.0L Colombo V12 motor derived from Le Mans winner Ferrari 250 Testa Rossa.

With a new 5-speed manual gearbox, the 250 GTO featured a single overhead camshaft unlike Testa Rossa's twin camshaft per bank. The decision to use a single overhead camshaft for the 250 GTO, as opposed to the twin camshaft setup of the Testa Rossa, was a strategic one, balancing performance needs with reliability and ease of maintenance, which were crucial for the car's success in endurance racing. The 250 was replaced by the Ferrari 275 GTB in 1964 which featured the same V12 engine with a bigger 77 mm bore.

The specs on the sheet do not look as impressive but the car weighs only 2,094 pounds adds to the overall experience. The official figures for 0 to 60 MPH from Ferrari indicate 2.9 seconds however, over the years, the test runs kept it in the sub-six second category. The naturally aspirated V12 under the hood sends all the intake noises in the cabin, with the symphony played by the exhaust making the drive an unforgettable experience.

Racing Heritage Of The Ferrari 250 GTO?

Ferrari 250 GTO Gran Turismo Omologato - Source Prova MO, CC BY-SA 4.0, via Wikimedia Commons

This prancing horse made its debut in 1962, 12 Hours of Sebring driven by the legendary Formula 1 driving champion of the time, Phil Hill. It was placed second on the podium behind the full-race spec Testa Rossa at that time.

Ferrari also dominated the FIA’s International Championship for GT manufacturers for 9 years with the 250 GTO. It was one of the last front-engine cars from Ferrari to remain competitive at the prime racing competitions.

Original Price & Auction Value of the Ferrari 250 GTO?

Ferrari 250 GTO in Silver Metallic Finish - Source: Neil, CC BY 2.0, via Wikimedia Commons

The Ferrari 250 GTO is the most expensive car ever sold around the world. The original price of 250 GTO was $18,000 and the buyers were personally approved by Enzo Ferrari. Currently, the 1962 Ferrari 250 GTO is the most expensive Ferrari ever sold in auctions. The GTO from 1962 that raced in prestigious Le Mans claimed the helm after it fetched a whopping $51.7 Million at RM Sotheby's New York auction. Bonkers, isn’t it?

Not just this, the 250 GTO by Scaglietti was sold for a record $48 Million in 2018. The trend of old Ferrari’s going up in value started when the old man Enzo Ferrari left the world. Apart from this, the GTO knows how to stay in the headlines. Recently in March 2024, the 1962 250 GTO finished in original silver with a French tricolore stripe and won the 2024 Amelia Concours de Sport Best in Show.