A legendary Ferrari 250 GTO is set to be auctioned off by Bonhams on August 15 at the Quail Lodge auctions with no reserve!
This particular Ferrari 250 GTO is chassis number 3851 GT and has been owned by one family since 1965. The car was just the 19th example of the 250 GTO racing car to be built and was completed on September 11th, 1962. That same year, it finished second in the classic Tour de France car race. It also participated in a host of hillclimb events through the years and has been owned by Fabrizio Violati since 1965.
If you’re tuned in to Ferrari 250 history, you’ll know that these cars are arguably the most valuable in the world with numerous examples selling for over eight figures. As a matter of fact, one example reportedly sold for a record $52 million late last year and it is certainly possible that this example will sell for even more.
In total, just 39 examples of the Ferrari 250 GTO were produced. The car features a 4.0-litre V12 engine delivering 300 hp. Incredibly, the car cost just $18,500 back in 1962 to 1964 (the equivalent of $145,733 adjusted for inflation today). Additionally, the first 250 GTOs began to sell for over $1 million in 1986 and since then it has grown in value by almost 50 times. That’s almost $2 million a year!