Highest price ever, 1963 Ferrari 250 GTO sells for $70 million

Highest price ever, 1963 Ferrari 250 GTO sells for $70 million

Private sale confirmed for world’s most-valuable automobile

The world’s most-outrageously valuable automobile has become even more so with the reported sale this week of a 1963 Ferrari 250 GTO for $70 million, eclipsing other recent sales of the landmark race car and the highest known sale by far of any vehicle, recent or classic. 

While no details of the sale have been released publicly, the car reportedly was privately sold by an individual owner to an American businessman.  The sale was confirmed in several published reports by noted Ferrari expert Marcel Massini.

Ferrari 250 GTOs already held the record for the highest prices paid for any car, with a private sale last year reaching well above $50 million.  In August 2014, the highest price ever paid at a collector car auction was recorded by a 1963 example that went for more than $38 million at a Bonhams sale held at the Quail Lodge during Monterey Car Week.

Veteran collector car expert, market watcher and appraiser Dave Kinney said he had heard about the Ferrari GTO sale and that the result was not unexpected, considering the upward trajectory of these cars. 

“The buyer still remains unknown, but it (confirmation of the sale) is coming from multiple sources and it is believable and does not seem surprising at all,” said Kinney, who also is publisher of the Hagerty Price Guide

One of just 39 ever built by Ferrari, chassis No. 4153 GT is a well-known 250 GTO and considered to be among the best of them, with notable longtime racing history and exceptional originality, having never been crashed during its competitive career.

During its first two years, 4153 GT was campaigned by famed Belgian teams Ecurie Francorchamps and Equipe National Belge, and it was restored back to its original racing livery of silver with yellow stripe, a departure from the more commonly seen Ferrari Red finish on these cars. 

GTO 4153 GT won the 1964 Tour de France, one of the most-grueling endurance races, and in 1963, it placed fourth overall at the 24 Hours of Le Mans.  Its restoration was completed in the 1990s by DK Engineering in the UK, and it has been frequently shown and driven on track in the years since.

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8 Comments

  • Thomas Devlin
    June 1, 2018, 5:57 PM

    At $70 mm, the best investment a rich man could make. I can remember when you could have bought one for One Million. They will only become more valuable as our dollar becomes more worthless–and fewer come to market.

    REPLY
  • Walt Bratten
    June 2, 2018, 8:50 AM

    Ah the cars we “used to own”. My Bizzarini 5300 Strada purchased from an elderly businessman in Cuneo, Italy in 1978. The Ferraris -275/2 and 275/4 purchased from John Mecum in 1977. The Lamborghini Miura S purchased from Ron Tonkin in 1969. Who would have thought?!?

    REPLY
  • Raj R.
    June 2, 2018, 11:50 AM

    The 1963 Corvette Coupe, is better looking than ANY ferrari …….. BY FAR ….. !!!!!

    REPLY
    • Ron@Raj R.
      June 2, 2018, 3:25 PM

      Most Ferraris are not about looks.

      REPLY
  • Ronald Warrick
    June 2, 2018, 3:31 PM

    Just think what it would have brought in red livery.

    REPLY
  • Michael W. Yeakle
    June 5, 2018, 12:43 AM

    At one time ALL old Race Car’s WERE just that! Old Racing car’s
    A 250. GTO IN 1966 SOLD FOR A MIRE $8,000 THAT HAD PROPELLED PHILL HILL TO A CHAMPIONSHIP!
    HIND SIGHT!

    REPLY

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