Tag Archives: Ferrari

Ferrari 250 GTO 1962 – Most Expensive Car

You might have read that this 1962 Ferrari 250 GTO is the most expensive car. Well that is partially right and partially wrong. The world of classic cars is engulfed with superbs and anecdotes, with a large dose of hyperbole thrown in. Read closely to understand more about the Ferrari 250 GTO.Ferrari 250 GTO Driver's Side

Ferrari 250 GTO – Most Expensive

Let’s cut to the chase. This specific model of the 1962 Ferrari 250 GTO by Scaglietti as of now is the most expensive car ever bought at a public auction. Period. Now as we previously covered, there is another Ferrari 250 GTO that is generally thought to be the most expensive car purchased but it was a private sale and the exact details are not a public record-yet.

Ferrari 250 GTO – In Demand

So many might ask what causes these models to be so expensive. Well like many classic cars, price is determined by rarity and provenance or background. The Ferrari 250’s are in demand because they are rare with only 36 made in various versions and iterations. Plus these cars were specifically designed and intended for racing. Ferrari 250 GTO Rear view

Ferrari 250 GTO – Racing History

The Ferrari 250 GTO was designed in a wind tunnel to compete for the International Championship for GT Manufacturers.  The hood was lowered and the windshield raked back for better aerodynamics.  This specific car won the 1962 Italian GT Championship and won several class first place finishes between 1962-1965. It last raced in manufacturers racers in 1965 when it won the Redex Trophy at Brands Hatch.  Though it then continued racing in smaller club races and changed hands often.  Strange that these beasts were raced extensively and yet all survived and are accounted for.

Ferrari 250 GTO – Vintage

The race car was entered into numerous vintage races over the years. Eventually Dr, Gregory Whitten in 2000 purchased the car. Whitten is able to collect vintage historic collector cars as he was an early employee at Microsoft and was their chief software architect.

Ferrari 250 GTO- Condition

It is interesting to note that this race car came with the original engine, already pulled and preserved for historic purposes and fitted with an additional 250 GT engine block (V-12 with 3 liter displacement producing 300 HP) that was upgraded to GTO specs.Ferrari 250 GTO V-12

Ferrari 250 GTO – Sold

At the Monterey Auction for RM Sotheby’s the car sold for $48,405,000 (including commission) after an opening bid of $35 million. In ten minutes it was gaveled sold to an undisclosed buyer.  Allegedly Whitten had bought it for less than $5 million, proving that his doctorate degree in Mathematics from Harvard wasn’t a fluke!

Photos courtesy of RM Sotheby’s

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Gas Monkey Garage’s Ferrari at Barrett Jackson Auction

Gas Monkey Garage

The fun loving folks at Gas Monkey Garage are connected to three cars selling at the Barrett-Jackson Auction this week.  Funny how things can quickly change.  Last year a car, previously featured on Gas Monkey’s “Fast N’ Loud” TV reality show,  sold with little fanfare or publicity.


Since then, Richard Rawlings sold a COPO Camaro at the Reno auction.    And he is now selling a CRC Camaro ready for the dragstrip.


Now the 1991 Ferrari F-40 that arrived at Gas Monkey Garage as a wreck; was fixed on the TV show and sold to Dennis Collins, his business partner, is a featured car on Saturday night in Barrett-Jackson’s Salon Collection.

F-40 Repairs

The folks at Gas Monkey Garage knew their limitations and imported some hired guns to help out on the frame and body work.  The Ferrari has less than 7,200 miles and is no longer a stocker.  The car was repainted black, rather than keeping it the original red.  The turbos are changed out (or enhanced), new shocks added and new seats were added, along with custom 18″ wheels in satin black.   The original aluminum V8 engine is intact with 2.9 liters displacement.

Given the rising fame of Richard Rawlings and Gas Monkey Garage it’ll be interesting to see what this thirteen year old car fetches.  Will the purists despise the mods or will a buyer want the car featured on Fast N’ Loud.

Tell us what you think!


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