The Most Expensive Car Ever Sold.

The holy grail of classic car collecting is the Ferrari 250 GTO.

What makes this car so rare and valuable is that there were only 36 of them produced between the years 1962-1963.

When the car was first released, you could buy it directly from Ferrari for $18,000 USD (Approximately $155,000 in 2021 dollars), however, you also needed to be approved for the purchase by Enzo Ferrari himself.

What made these cars so special was they were specifically designed for track racing. At the time, the rivals to the 250 GTO were the Shelby Cobra, Jaguar E-type, and the Aston Martin DP214. The 250 GTO managed to win the over 2000 cc class of the FIA’s International Championship for GT Manufacturers from 1962 – 1964. It also won the Tour de France Automobile in 1963 and 1964.

Because only 39 Ferrari 250 GTO’s were built, & it was so dominant as a racing vehicle these cars sell in the tens of millions, with the most expensive car ever sold being the GTO that won the 1964 Tour de France. This Grey and Yellow 250 GTO was purchased by David Macneil for an alleged $70 Million USD.

If you had purchased this Ferrari 250 GTO for $18000 in 1963, and sold it for $70,000,000 you would have multiplied your initial investment by 3889x.

These vintage cars regularly sell in the 10’s of millions & experts believe that within the next 5 years, a Ferrari 250 GTO will sell for over $100,000,000.

The Club of Billionaire Collectors who own one of these cars includes Ralph Lauren, Lawrence Stroll, and Rob Walton.

You may not be able to afford one of these iconic, holy grail, classic cars, however, Ares Design took Ferrari to court in order to win the right to produce a kit version of the car citing that Ferrari had not renewed its trademark on the design.

The Ares Kit Version of the Car is set to be released in the future, so if you want one of these in your garage, and aren’t a billionaire, you may be able to buy a kit and built it yourself.

 

Sources:

https://www.cnbc.com/2018/06/01/this-ferrari-just-became-the-most-expensive-car-ever-sold.html

https://www.cnbc.com/2018/08/27/most-expensive-car-ever-sold-at-auction-fetches-48-million.html#:~:text=A%201962%20Ferrari%20became%20the,%2448.4%20million%20over%20the%20weekend.

https://en.wikipedia.org/wiki/Ferrari_250_GTO

https://www.autoexpress.co.uk/car-news/88249/most-expensive-cars-ever-sold-at-auction

https://www.autocar.co.uk/car-news/industry/12-most-expensive-cars-sold-auction-

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https://www.freeimages.com/photo/ferrari-250-gto-2-1477526