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Ferrari 250 GTO Worth $52 Million?

Ferrari 250 GTO Worth $52 Million?

Ferrari 250 GTO Worth $52 Million?
October 05
09:40 2013

The exquisite cars market doesn’t feel the recession in any way, and the proof is that a rare Ferrari 250 GTO, owned by American collector Paul Pappalardo, is said to be sold recently for $52 million. The information was published by an Italian source, but it was never confirmed: the owner chooses to not comment on this information.

And because the Ferrari 250 GTO was sold on a private sale, it is unlikely that we will ever know the exact price paid for the car. If the information is correct, the price easily eclipses the $35 million price tag of another Ferrari 250 GTO sold in April 2012, as well as the $27.5 million sale of a 1967 Ferrari 275 GTB/4 NART Spider.

Ferrari 250 GTO is an extremely rare car: only 39 examples were built. This particular car is even more valuable because it is a racing legend. Marked 5111GT, its first driver was Jean Guichet. The French racer won the 1964 24 Hours of Le Mans with this car. Then Guichet went on to win the GT category of the Tour de France Automobile in that same year.

Ferrari 250 GTO was produced for two years, from 1962 to 1964. Based on the 250 GT SWB, it was a racecar: it was produced for homologation into the FIA’s Group 3 Grand Touring Car category. When new, it was sold for $18,000 in the United States, but buyers had to be approved personally by Enzo Ferrari and his dealer for the US, Luigi Chinetti.

Under the bonnet, it has a 3.0 L V12 engine from the 250 Testa Rossa, its body being developed by designer Sergio Scaglietti and engineer Mauro Forghieri. The car itself doesn’t differ much from Ferraris of the 1960s: the body panels are attached to a hand-welded tube frame, A-arm front suspension, live-axle rear end, disc brakes, and Borrani wire wheels.

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