Rare 1962 Ferrari 250 GTO Pops Up for Sale, It's Worth a Fortune

And I'm not talking about seven-figure sums that some muscle cars can also achieve. Nope! The 250 GTO is deep into eight-digit territory.

The race-spec Ferrari may not be the world's most expensive vehicle sold at auction, but it occupies three of the top four spots as of March 2024. First place goes to the 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupe, which changed hands for a whopping $143 million in 2022. But the next three positions belong to the 250 GTO.

The most expensive iteration, chassis number 3765LM, crossed the auction block for $51.7 million in November 2023. Raced at the 24 Hours of Le Mans, this GTO is also the most expensive Ferrari ever sold. The second-most expensive GTO, chassis number 3413GT, comes very close at $48.4 million. This transaction happened in 2018. Finally, chassis number 3851GT was auctioned off for $38.1 million in August 2014 and rounds off the 250 GTO top three.

While it's safe to say that this nameplate won't break the $100-million mark very soon, each and every unit that pops up for sale is bound to cost a fortune. The sum will obviously vary depending on originality, racing history, and condition, but it's safe no GTO will change hands for less than $30 million.

The red beauty you see here is a solid candidate for an even higher sticker, but we probably won't find out more about it. Yes, a 250 GTO just popped up for sale, an event rarer than the car itself. However, this Ferrari will not be auctioned, so the sum it will go for will most likely remain undisclosed.

This 250 GTO is one of only 36 units built from 1962 to 1964. It's also a first-year example, and according to the broker handling the sale, it is one of 21 left-hand drive Series I models.

Sporting chassis number 3527GT, this Ferrari was completed in 1962. The Rosso Cina sports car was delivered new to Ecurie Francorchamps and raced at Tour de France only four months later. The Ferrari finished seventh with Lucien Bianchi and Claude Dubois behind the steering wheel.

The GTO then took fifth place at the 1000 km Paris race and won the GP of Angola by the end of the year. In 1963 and 1964, the Ferrari was entered by Swiss banker Armand Boller in seven events, winning its class in six of them. The car was modified for street use in 1965 and records show it changed owners five times until now.

The car is in pristine condition and still retains its original chassis, body, engine, gearbox, and rear axle. As a brief reminder, all 250 GTOs left the assembly line with 3.0-liter V12 engines (rated at 296 horsepower) and five-speed manual transmissions.

The Ferrari is looking for a new home through noted British dealer Tom Harley Jnr, and pricing is only available on application. While its racing history suggests it won't break the $51.7 million record, this GTO will most likely go for at least $35 million.