Auctions

1962 Ferrari 250 GTO Reportedly Up for Grabs for $56 Million

Because you can’t buy Michelangelo’s David

Bad news – the Mona Lisa isn’t for sale. Even if you had the cash, we’re reasonably sure you can’t get your hands on the Hope Diamond, either. Sorry, King Tut’s mask is off the market as well. If you’re sick of organizing your stacks of Picassos, Rembrandts, and Giacomettis, get in touch with the brokers at Talacrest, who hold the keys to a 1962 Ferrari 250 GTO.

If you asked a big-scale car collector to make a list of the most desirable, relevant, historical, and noteworthy cars in existence, one of the first scribbles on that cardstock would be the 1962 Ferrari 250 GTO. Everything about these berlinettas oozes significance and, despite their propensity for overexposure on the show circuit, they remain a powerhouse on both the concourse green and the historic race tarmac.

This was one of the final front-engined Ferraris to remain competitive on the circuit, securing victory in the GT championship during 1962, 1963, and 1964. Power came from a rowdy 3.0-liter Colombo V-12, allowing the lithe coupe to smack 174 mph.

With such a stunning design, rarity, and historical importance, the value of the GTO has ballooned far beyond the grasp of even the most well-heeled collectors. Currently, a ’62 occupies the world-record for the most expensive car sold at auction, claiming a whopping $38 million two years ago. This was just for an auction, however. Rumors abound regarding a $50 million purse changing hands behind the scenes for a different ‘63 GTO.

This particular 250 GTO was the first one to compete in a race, initially hitting the circuit at the 1962 Sebring 12 Hours, where it placed second overall and first in its class at the hands of Phil Hill and Olivier Gendebien.

Afterwards, the car was sold to a New York privateer that entered it into the 24 Hours of Le Mans, claiming sixth overall and another class win. And in 1965, GTO #3387GT finished first in class at the Nassau Tourist Trophy.

Then, 3387GT bounced around among a handful of owners before finally settling with the current Washington-based owner for 19 years.

A price isn’t listed on Talacrest’s website, but it’s been reported that the car carries a price tag topping out at $56 million. While you’re liquidating your portfolio, head over to the listing to get a more complete look at this princely priced machine.

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