250 GTO auctioned for just under R1b becomes most expensive Ferrari ever

There’s a new record for the most expensive Ferrari, and unsurprisingly, it’s a 1962 250 GTO recently auctioned by RM Sotheby’s.

This is officially the most expensive Ferrari ever sold. A little bit of racing pedigree, sleek 60s lines, class victories and the Prancing Horse adorned on its panels means that this 1962 250 GTO had the hammer come down on a staggering price of $51 705 000 (R50m under a billion)!

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There’s a new record for the most expensive Ferrari, and unsurprisingly, it’s a 1962 250 GTO. Recently auctioned by RM Sotheby’s, this vintage beauty fetched a staggering $51 705 000 (R950 564 367). This outstanding result surpasses previous high-profile Ferrari sales, including a $48,4m 250 GTO at the 2018 Monterey auction, an ex-Stirling Moss 1957 335S that brought $35.8m in 2016, and a $38m 250 GTO that sold in Monterey in 2014.

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One of one: chassis number 3765 – this latest car, which Sotheby’s lists as a 330 LM/250 GTO, is the only 1962 GTO raced by Scuderia Ferrari. The car had its debut outing at the May 1962 Nürburgring 1000km, where it finished first in its class and second overall. In response to a change in Le Mans rules for 1962, the original 3l engine was replaced by a 4l V-12 for the 24 hours – and this is the only 250 GTO ever factory fitted with the larger 4l engine which invariably makes it even more rare. Unfortunately, the car went off the track early in the race and later overheated and DNF’d.

Image: Jeremy Cliff/RM Sotheby’s.

The car was then sold to an Italian privateer, for whom Maranello swapped out the 4l engine for a 3l V-12, paired with a five-speed gearbox, and the car retains that powertrain to this day.

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In 1967, the Ferrari found its way to the United States. It has been featured at events throughout the past decades while in the care of several long-term owners, including the seller, who has had the car for 38 years. All these factors no doubt worked to bolster the selling price.

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