Ferrari 250 GTO set to break auction records at Pebble Beach sale

Ferrari 250 GTO set to break auction records at Pebble Beach sale

The Ferrari 250 GTO is already the most expensive ever to be sold at auction, but this example could soon break more records at an auction in August.

The Ferrari 250 GTO is one of the world’s most valuable cars, and according to current auction records – it is.

However, auctioneers RM Sotherby’s have announced the consignment of an original, matching numbers example of one of Ferrari’s most legendary cars ahead of its prestigious Monterey auction, which is held alongside the Pebble Beach Concours d’Elegance in August.

It is expected to become the most expensive car to be sold at auction, as this 250 GTO comes with an estimate of $45m (£33.9m). This would break the current record from 2015, which coincidentally was £29m set by another 250 GTO sold by Bonhams.

This 1963 example is one of just 36 ever built, with the GTO boasting an impressive racing career in the Sixties – claiming first in class in 300 worldwide races. It’s now one of the most sought after collectors’ cars, with owners including Pink Floyd drummer Nick Mason, fashion designer Ralph Lauren and radio presenter Chris Evans

Shelby Myers, car specialist at RM Sotherby’s, said: “We are thrilled at the rare opportunity to offer a legendary Ferrari 250 GTO at auction.

“Due to the evolution of technology and safety regulations that followed, the GTO was essentially the final true road racer, marking the end of an era when drivers really got their hands dirty. This was the last car that you could park in your garage, drive to the track, win the race, and then drive home.”

This model was the third 250 GTO built, and was first used as a Ferrari test car before going to one of Ferrari’s favoured customers to be used in racing.  

The car passed to several owners in the ‘60s to be used for racing, before having a chain of owners up to 2000 when it was bought by its current owner Dr. Greg Whitten – an early Microsoft employee. Whitten has used it for several vintage racing events, as well as GTO driving tours.

The car retains its original engine, gearbox, rear axle and bodywork, which is a rarity for any car of this age - never mind a racing car.

It is being auctioned by RM Sotherby’s in Monterey on August 24 and 25, and is held during the world-renowned Pebble Beach Concours d’Elegance.

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