1962/63 Ferrari 250 GTO Auctioned for Record-breaking $38,115,000 USD Among the Landmark Sales so far at Monterey Car Week
(Monterey, CA – 14 August 2014) At the Bonhams auction, records were shattered as the 1962/63 Ferrari 250 GTO, chassis number “3851GT”, sold for $38,115,000 USD. This is the most ever paid for an automobile at auction, underscoring the unrivaled desirability for Ferrari in the collector car market and the continued dominance of the brand at auctions worldwide.
This Ferrari 250 GTO is now, effectively, the most valuable and coveted car in the world.
This car was the 19th Ferrari GTO to be completed and was invoiced on September 11, 1962. It was most recently owned by Italian enthusiast Fabrizio Violati and was the centerpiece of his Collezione Maranello Rosso of precious Ferraris previously on view to the general public in the Republic of San Marino.
Violati acquired this 250 GTO in 1965 for 2,500,000 Lire, then around $4,000 USD or £1,400 Sterling, equating to around £22,000/$33,500 today. It was originally finished in metallic pale grey with lengthwise red, white and blue centerline stripes when acquired by its first owner, French privateer Jo Schlesser.
No other mark is commanding attention and achieving such spectacular values so far in Monterey like Ferrari, with total Ferrari sales today at Bonhams totaling just under $65 Million USD. Additional notable sales today at Bonhams include:
- 1958 Ferrari 250 GT Series 1 Cabriolet – $6,820,000 USD
- 1953 Ferrari 250 Mille Miglia Berlinetta – $7,260,000 USD
- 1969 Ferrari 365 GTB/4 ‘Daytona’ Berlinetta Competizione – $935,000 USD
- 1962 Ferrari 250 GT Short-Wheelbase Speciale Aerodinamica – $6,875,000 USD
- 1978 Ferrari 312 T3 Formula 1 Racing Single-Seater – $2,310,000 USD
(Note that all prices include dealer premium).
BONHAMS TO PREVIEW ULTRA-RARE FERRARI 250 GTO AT MONTEREY PRE-REUNION
MONTEREY, Calif., August 1, 2014 – An example of arguably the most famous and sought-after classic race car ever – the 1962 Ferrari 250 GTO – will be previewed by Bonhams at the Monterey Pre-Reunion August 9 and 10. The classic race car, of which only 39 were constructed, will be shown in the Bonhams hospitality area at Mazda Raceway Laguna Seca where the historic car racing is taking place.
The Ferrari, chassis number 3851GT, is from the Maranello Rosso Collection and has been in one family’s care for the past 49 years. Bonhams will sell the car and nine other Ferraris from the collection at its Bonhams Quail Lodge Auction August 14.
“Collectors around the world are eagerly awaiting auction day to see what the market will command for such a historically significant and rarely available automobile,” said Mark Osborne, head of motoring for Bonhams in the U.S. “There is no reserve on this car, meaning that it will be sold to the highest bidder regardless of what that bid is. And what better way to showcase it than in front of racers and collectors who are at the Monterey Pre-Reunion.”
This car was the 19th Ferrari GTO to be completed. Since two of the preceding examples had been 330 GTOs with 4-litre engines instead of the GT-homologated 3-litre ‘250’ units it may be regarded as the 17th 250 GTO. It was collected by its first owner, the experienced and rugged 34-year-old French privateer Jo Schlesser, who immediately entered it in the 1962 Tour de France Automobile, with co-driver French skiing champion Henri Oreiller. The duo covered 3,418 miles and finished second overall.
The Monterey Pre-Reunion kicks off the Monterey Classic Car Week of activities including the Rolex Monterey Motorsports Reunion (August 14-17), Quail Motorsports Gathering (August 15) and the Pebble Beach Concours d’Elegance (August 17).
Bonhams returns to the Monterey Pre-Reunion for the fifth consecutive year showcasing auction cars at its Turn 4 chalet in the race paddock. Several other cars will join the Ferrari 250 GTO for visitors to inspect before they go on final display prior to the auction beginning.
“We are thrilled Bonhams has selected the Monterey Pre-Reunion to preview this superb race car to our guests,” said Gill Campbell, CEO and general manager of Mazda Raceway Laguna Seca. “It is a privilege to be working with Bonhams on enhancing the experience for our drivers and wish them great success in the auction of these very important cars.”
Admission to the Monterey Pre-Reunion August 9 and 10 is just $20 at the paddock entrance of Mazda Raceway Laguna Seca. Advance purchase tickets for the Rolex Monterey Motorsports Reunion August 14-17, featuring 550 historic race cars and the centennial of Maserati.