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The Ferrari 250 GTO is a legendary car that captivates enthusiasts and collectors alike. First produced in the early 1960s, it was designed for dominating a 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 will explore the fascinating history of the 250 GTO and why it continues to hold such a special place in the hearts of car enthusiasts and collectors around the globe.

How much does a Ferrari 250 GTO cost?

Ferrari 250 GTO Goodwood
Ferrari 250 GTO | Michael Cole, Getty Images

The Ferrari 250 GTO is one of the world’s most valuable and sought-after cars. In fact, 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 can vary depending on its rarity, history, and condition. However, it is safe to say that even the most average examples of Ferraris still command multi-million dollar price tags.

In recent years, several 250 GTOs have changed hands privately for undisclosed sums. However, it is believed that 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 Ferrari 250 GTO so expensive?

Ferrari 250 GTO blue
Ferrari 250 GTO | Martyn Lucy, Getty Images

The Ferrari 250 GTO is so expensive for several reasons. Firstly, it is an incredibly rare car, with only 36 produced between 1962 and 1964. Secondly, it is 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 itself is synonymous with luxury, and the 250 GTO represents the pinnacle of the company’s engineering and design prowess during a golden era of motoring. Lastly, the scarcity of the car has created a highly competitive market for collectors, driving up the price even further. All of these 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?

Ferrari 250 GT Spyder
Ferrari 250 GT Spyder | Chesnot, Getty Images

The Reason Most Ferraris Are Red Is Pretty Simple

The $70 million 250 GTO, sold in 2018, is widely rumored to have been purchased by billionaire David MacNeil, the founder of WeatherTech. This company produces car floor mats and other automotive accessories. However, MacNeil has not publicly confirmed or denied the speculation surrounding his car ownership. What is known is that the 250 GTO was initially purchased in 1963 by Jo Schlesser, a French racing driver, and went on to compete in numerous races throughout Europe.

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

Is the Ferrari 250 GTO worth the insane price tag?

In conclusion, the Ferrari 250 GTO remains the most expensive prancing horse ever produced, with a rich racing history, exceptional performance capabilities, and unmatched exclusivity. Its rarity, historical significance, and association with the Ferrari brand 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. With only a few dozen, the 250 GTO remains highly coveted and iconic. It is a car that is cherished by collectors who value its unrivaled beauty and historical importance.