The Ferrari 250 GTO is a legendary car that captivates enthusiasts and collectors alike. First produced in the early 1960s, it was designed to dominate the racetrack. Today, the Ferrari 250 GTO is one of the world’s most sought-after and valuable cars, with only a few dozen in existence. In this article, we’ll explore the fascinating history of this classic Ferrari and why it continues to hold a special place in car enthusiasts’ and collectors’ hearts.

How much does a Ferrari 250 GTO cost?

The Ferrari 250 GTO is one of the world’s most valuable and sought-after cars. Indeed, it holds the record for the most expensive car ever sold at auction, with one example fetching a staggering $70 million in 2018. Of course, the value of a 250 GTO varies depending on its rarity, history, and condition. However, even seemingly average examples of iconic Ferraris still command multimillion-dollar price tags.

In recent years, several 250 GTOs have changed hands privately for undisclosed sums. However, the current market value for a well-maintained example is around $50 million or more. Due to its rarity and historical significance, the 250 GTO remains one of the ultimate symbols of exclusivity.

Why is the Ferrari 250 GTO so expensive?

The Ferrari 250 GTO is expensive for several reasons. First, it’s incredibly rare, with only 36 produced between 1962 and 1964. Second, it’s one of the greatest sports cars ever, with a rich racing history and numerous victories under its belt. Its exceptional performance capabilities, stylish design, and exclusivity make it a highly sought-after collector’s item.

Additionally, the Ferrari brand is synonymous with luxury, and the 250 GTO represents the pinnacle of the Italian automaker’s engineering and design prowess during a golden era of motoring. Last, the car’s scarcity has created a highly competitive market for collectors, driving up the price further.

All of those factors contribute to the 250 GTO’s status as one of the world’s most valuable and desirable cars.

Who owns the $70 million Ferrari?

The $70 million Ferrari 250 GTO, sold in 2018, is widely rumored to have been purchased by billionaire David MacNeil, the founder of WeatherTech. The company produces car floor mats and other automotive accessories. However, MacNeil has neither publicly confirmed nor denied the speculation surrounding his car ownership. Jo Schlesser, a French racing driver, initially purchased this 250 GTO example in 1963 and went on to compete in numerous races throughout Europe.

After changing hands several times, the classic Ferrari eventually landed in the hands of German collector Fritz Kroymans in 2000. Kroymans kept it in pristine condition for nearly two decades before putting it up for auction in 2018. As a result, the Tour de France-winning 250 GTO’s current whereabouts are unknown. Still, it’s likely in the possession of a private collector who cherishes its historical significance.

Is the Ferrari 250 GTO worth the insane price tag?

With a rich racing history, exceptional performance capabilities, and unmatched exclusivity, the Ferrari 250 GTO remains the most expensive car Maranello has ever made. This supercar’s rarity, historical significance, and association with the Prancing Horse have created a highly competitive market for collectors. The $70 million 250 GTO sold in 2018 remains one of the most significant sales in automotive history.

“The Ferrari 250 GTO is the motoring market’s equivalent of Van Gogh’s Sunflowers and a talisman for any top-end collection,” James Knight, Group Motoring chairman at the UK auction house Bonhams, told CNN.

Numbering only a few dozen, this classic Ferrari remains highly coveted. To collectors who value its unrivaled beauty and historical importance, the 250 GTO is worth its mind-blowing price.