Ferrari 250 GTO is Now Worth More Than Gold

A lot more

2y ago

The math is very simple really. Last year, at an RM Sotheby's auction Ferrari 250 GTO, chassis number 3413GT, sold for $48,405,000. An all-time record for an auctioned car. Having in mind that the car weighs only 880kg, it still comes up to a staggering $55,000 per kilogram. Gold is $41,500/kg. The GTO is worth more than its weight in gold.

But why?

It is widely considered that Ferrari models between 1950 and 1970 embodied the purest essence of the company. Among them, those that have been taken racing like the 250 GTO are more sought after than the elixir of life. Also, the 250 GTO is extremely rare. Only 36 of them have been produced, and all have an extensive racing history.

On the other hand, the number of wealthy people in the world is growing faster than ever before. China alone makes two new billionaires every week! All that means that once awhile, when a GTO does go on auction, all these new eager prospective owners will pit their bank accounts against each other and go crazy.

Crazy amounts of money

As I mentioned before, the 250 GTO (3413GT) sold in August 2018 set the new record for the most expensive car ever sold at an auction. A record it took from another 250 GTO auctioned in 2014.

Earlier that same year, a 250 GTO (4153GT) was privately sold for a staggering amount of $70,000,000! That makes it the most expensive car... ever. Nearly double the price of weight in gold! And again, a record stolen from yet another GTO (5111GT) privately sold in 2015. I'm starting to see a pattern here.

Many details about the $70M purchase are still a secret, but a leading Ferrari historian Marcel Massini, who described the car as one of the top three or four GTOs in the world, confirmed it had been bought by an American businessman.

The most expensive car ever. Ferrari 250 GTO (4153GT)

The most expensive car ever. Ferrari 250 GTO (4153GT)

Prices throughout the history

When New: $18,500 ($150,000 in today's money)

1965: $10,500

1968: $6,000

1969: $2,500 (Kruse International auction)

1971: $9,500

1973: $17,500

1974: $28,000

1975: $35,000 (Number 3223GT)

1977 : £37,000 (sold to Pink Floyd drummer Nick Mason)

1978: $90,000 (Number 3987GT - Good original condition)

1978: $125,000 (Number 3387GT - Concours (perfect) condition)

1980: $180,000-200,000 (Number 3445GT - asking price following restoration)

1983: $300,000

1984: $500,000

1985: $650,000 (Number 3987GT)

1986: $1,000,000 (Number 3589GT)

1987: $1,600,000 (Number 4757GT)

1988: $4,200,000 (Number 3589GT)

1989: $10,000,000

1990: $13,000,000

1993: $3,000,000-3,500,000 (Number 4219GT)

1997: $2,200,000

1998: $6,000,000 (Number 3729GT)

2000: $7,000,000 (Number 3413GT)

2004: $10,600,000 (Number 3223GT)

2010: $26,000,000 (Number 3943GT)

2012: $35,000,000 (Number 3505GT)

2013: $52,000,000 (Number 5111GT)

2014: $38,115,000 (Number 3851GT)

2018: $70,000,000 (Number 4153GT)

2018:$48,405,000 (Number 3413GT) - same car that was sold in 2000 for 7M!

Is there a cheap one?

The cheapest 250 GTO ever sold was in 1965 to a Ferrari collector and historic racer Fabrizio Violati, for only $4000, which is around $20,000 today. Interestingly, that was his first Ferrari ever, and Violati saved it from being cannibalized by a powerboat racer for its engine. God bless him a thousand times!

Fabrizio Violati - no one ever had a 250 GTO longer than him. 45 years

Fabrizio Violati - no one ever had a 250 GTO longer than him. 45 years

Fabrizio's Ferrari didn't change hands until 2014, four years after his death when it was sold at an auction for $38M. Yes, the cheapest GTO ever later held a record for the most expensive one.

If you think you can get one cheap, it will not happen. Not today. What is more likely to happen is a 250 GTO being the first car ever to break the $100,000,000 figure. It's just a matter of time.

Written by: Styp P

Youtube: TopCars TV

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Comments (78)

  • Even though I'd love to have one of those Ferrari's, it isn't worth 48 million for me. I'd rather spend the money on lots of very different cars to have a garage filled with every sort of car experience from around the world from any period. Too many to tell but I'd make sure all sectors of the car world are well represented

      2 years ago
  • I'd prefer a list, one car is simply not worth it.

    GTR Nismo

    Giulia QV

    1992 NSX

    355 F1

    288 GTO


    M3 E30



    812 Superfast

    Aston Martin Vanquish

      2 years ago
  • I still don't know how to spend $48m on several cars (as I chose that). Probably an Agera R, then an E-Type series 1,5, a Zonda F Roadster Clubsport, some normal daily cars, and finally a house.

      2 years ago
    • I chose the GTO because of the massive return on investment potential. Not what a true petrolhead should pick, but my thinking is - 20 years later, I can buy even more cars when I sell it.

        2 years ago
    • But, in my opinion, the price might start to fall again someday. It's already so high, wouldn't it be better to buy a different car and wait until that appreciates like hell? Because I don't see the 250 GTO continuing to do that.

        1 year ago
  • Always looks like a rough copy of the series 1 Etype

      2 years ago
  • Pfff why would you spend $70M on a 50 year old car when you can buy a golden Lambo for that amount of money?

      2 years ago
    • Because in a decade it will cost double

        2 years ago
    • That's a decade of your life that you could have enjoyed something better.

        2 years ago