Ferrari symbolizes power and luxury. Since its inception, the iconic brand has pushed the boundaries of automotive performance and possibilities to new frontiers. Today, it’s rightfully counted among the world’s auto elite.
One of Ferrari’s finest is the Ferrari 250 GTO – a classic racing car that has a special place in the hearts of collectors and car lovers. It’s one of the rarest and most valuable cars globally, with only 36 units produced throughout its entire production run.
According to CNN, a 1963 model fetched a staggering $70 million in a private sale in 2018, making it the most expensive Ferrari car ever sold at that time. This rarity is heightened by its siblings in the 250 series, such as the Ferrari 250 GT Berlinetta and the 250 Testa Rossa, which also carry the Gran Turismo legacy but differ in design and purpose.
Over the years, collectors have dropped a humongous amount of money to get their hands on one of the finest prancing horses, and we’re not talking in thousands; it’s going beyond millions.
Ferrari 250 GTO: The Greatest Among All
There is no mystery as to why the Ferrari 250 GTO is so popular. This model is, without any doubt, elegant, powerful, and sporty, made to rule the collector’s heart. Nicknamed “Il Mostro” (The Monster) by Ferrari staff for its raw power and unconventional looks during early testing, the GTO’s appeal exceeds its price tag, representing a legacy of speed, beauty, and exclusivity.
The name “GTO” itself is an abbreviation of Gran Turismo Omologato, which in English is translated as “Grand Touring Homologated”. This term signifies its certification for grand touring racing, blending road-legal luxury with track-ready performance.
Being so highly collectible, the GTO has an unmatched aura that no rival of Ferrari, such as the Lambo, can achieve to date. It’s without a doubt one of the most celebrated cars history has ever witnessed. Its voluptuous, wind-tunnel-tested body, designed for both form and function, remains a timeless icon, often compared to fine art by collectors like Ralph Lauren and Pink Floyd drummer Nick Mason.
Ferrari 250 GTO Production
The first Ferrari 250 GTO has a remarkable legacy that has extended well beyond its extremely short manufacturing cycle in the early ’60s, cementing itself as the most demanded automobile in history.
Ferrari built these cars so they could enter a specific form of competition. Most of them were made in 1962-63, and they looked one way. Then in 1964, they made 3 more that looked a bit different. They even upgraded 4 of the older ones to the new look.
Developed under the keen eye of engineer Giotto Bizzarrini and designer Sergio Scaglietti, the GTO was crafted to meet FIA homologation rules, requiring at least 100 units—though Ferrari famously produced far fewer, enhancing its exclusivity. Bizzarrini’s prototype, dubbed “Papera,” was a crude yet revolutionary starting point, with a low-slung chassis and aerodynamic fastback that set the stage for the GTO’s iconic silhouette.
The 250 GTO became super famous and super valuable since only a couple of them are in existence, and the public’s affection for this legendary Ferrari is beyond any popularity of newer or older models.
The iconic model started by being second in its first season of racing in 1962 at the 12 Hours of Sebring competition. That debut marked the beginning of its storied racing career, showcasing its prowess against fierce competitors like the Jaguar E-Type and Aston Martin DB4 GT.
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Ferrari 250 GTO Rich History
Being consistent with the most famous and significant Ferrari models, one must always mention the Ferrari GTO 250. This car did equally well in the grand touring concept that was inherent in the brand, which became very popular in the ‘50s and ‘60s.
In 1961, the GTO was under manufacturing; this Ferrari racing team of the European racetracks. Ferrari won at Le Mans for the second year in June, and by September, two Ferrari drivers were aiming outright for the F1 world championship. These drivers were the American Phil Hill and the West German playboy Count Wolfgang Von Trips, known to his friends as Count Von Crash.
Tragically, Von Trips’ fatal crash at Monza in 1961, which killed 14 spectators, cast a shadow over Ferrari’s triumphs, leading to the “Palace Revolt” that saw Bizzarrini and other key figures depart, leaving young Mauro Forghieri to refine the GTO. Tested by legends like Stirling Moss, who praised its superior handling over its predecessors, the GTO proved its mettle early on despite these challenges.
The GTO had some sensational racing successes. This model also won three consecutive years in the FIA World GT Championship—1962, 1963, and 1964—and had a sort of supremacy in all endurance races like Le Mans 24 Hours and Tour de France Automobile.
Its dominance wasn’t just luck; the GTO clinched victories at iconic events like the Targa Florio and the Nürburgring 1000 km, cementing its reputation as a racing legend. Drivers like Jean Guichet, who won the 1963 Tour de France, described it as “perfect whatever the conditions,” a testament to its versatility.
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V12 Unleashed: Under The Hood
Mechanically, the Ferrari 250 GTO is one of the finest and fastest machines by the master car engineers of the 1960s, combining performance, function, and desirable style. Among the many brilliant features, you will find a central driving component, a 3.0-liter V12 unit borrowed from the Ferrari 250 Testa Rossa.
It features a Tipo 168/62 Colombo V12 engine, a 3.0-liter powerplant that gives out 300 horsepower, covering 0-60 mph in a mere 6.1 seconds with a top speed of 177 mph. This engine, designed by Gioacchino Colombo, boasted six Weber carburetors and a dry-sump lubrication system, optimizing power delivery and reliability under grueling race conditions. Its operatic exhaust note, peaking at 7,500 rpm, became legendary, with driver Derek Hill likening its driving experience to “a certain kind of ecstasy.”
The 250 GTO also has a tubular light steel frame and an aerodynamic body produced by Sergio Scaglietti. It had near-perfect balance and handling due to a well-sorted suspension system consisting of independent front suspension and a live rear axle. This made the GTO quick, sensitive, and competent in handling complicated circuits. Weighing just 2,200 pounds, its lightweight construction amplified its agility, making it a formidable force on twisty tracks.
It brought on the manufacture of a car that had historical styling and dynamism that had never been seen before, thus making the Ferrari 250 GTO the best-ever built sports car.
Ferrari 250 GTO Specifications
| Production Years | 1962–1963v |
| Production | 36 units |
| Engine | Tipo 168/62 Comp, 60º V12 with Dry Sump Lubrication |
| Displacement | 2953 cc / 180.2 in³ |
| Power | 302 bhp @ 7500 rpm |
| Torque | 216.8 ft lbs @ 5500 rpm |
| Top Speed | 177 mph (284.79 kph) |
| 0–60 mph | 6.1 seconds |
| Transmission | 5-Speed Manual with Fichtel & Sachs Clutch |
| Body/Frame | Aluminum Body over Tipo 539/62 Steel Tube Frame |
250 GTO Sales, Auction Results, and Today’s Worth
The Ferrari 250 GTO was launched at about $18,000 in the first half of the sixties. In those days, people considered it to be a great bargain to buy a car that ruled the racetrack and won great events. Indeed, the car’s worth has increased over the years as it attracted more and more attention on the roads and in social media posts.
The 250 GTO has not featured in many controversies, but the first-ever shocking sale happened in 1990 when the GTO went for over 10 million dollars. This is an amount that was unheard of for a car up to that time. Before that, in 1985, Ralph Lauren acquired chassis #3987 for $650,000, a steal by today’s standards, while a 1969 classified ad listed a GTO for just $9,450, reflecting its modest value before the vintage car boom.
The $10 million record was short-lived, though, as the 250 GTO went on to break records in private sales. Another notable sale occurred in 2014, when a 1962 model sold for $38.1 million at a Bonhams auction, setting a public auction record at the time. Of course, as said earlier, the 1963 250 GTO, which cost a whopping $70 million, was the highest sale for any Ferrari in history.
As of the recent news, the buyer of this car is believed to be American businessman David MacNeil, who bought chassis number 4153 GT, so everything associated GTO has become a true collector’s item. MacNeil’s purchase followed his “only cry once” philosophy, seeking a pristine GTO with impeccable racing provenance, including a fourth-place finish at Le Mans in 1963.
Frequently Asked Questions – Ferrari 250 GTO
“GTO” stands for “Gran Turismo Omologato,” which translates to “Grand Touring Homologated” in English.
The highest recorded sale was $70 million for chassis number 4153GT in June 2018, making it one of the most expensive cars ever sold.
Yes, it dominated various races, including the Tour de France Automobile and the 24 Hours of Le Mans, solidifying its legacy in motorsport history.
When new, the Ferrari 250 GTO cost around $18,000 in the United States.
Its rarity, racing pedigree, and historical significance contribute to its high value; one sold for $70 million in a private sale in 2018, setting a record for the most expensive car ever sold at that time.
