Classics, News

1962 Ferrari 250 GTO sold for record RM120 million

Previously we reported that a 1962 Ferrari 250 GTO Berlinetta will be auctioned at the Bonhams’ Quail Lodge Auction in Carmel, California. Well, it turns out that the classic car was sold off for $38,115,000 (RM120 million) making it the most valuable car ever sold at Bonhams’s auction!

Surpassing the current record of the most valuable car sold at auction, which was also set by Bonhams with the 1954 Mercedes-Benz W196 R F1 Racer that sold for $30-million (RM94 million) at Bonhams’ Goodwood Festival of Speed Auction last year, the Ferrari GTO had been the subject of intense international interest, says the organiser.

Bidders from around the world were in attendance in the audience and on the telephones. The auction pavilion was filled to total capacity with overflow on the lawns watching the happenings live on the numerous television screens. After the start of a passionate bidding war that at times resembled a tennis match, complete with moments of silence interrupted by cheers, the audience erupted in applause when the fall of the gavel confirmed the final price.

“It’s been a genuine privilege to represent this outstanding car and we are absolutely delighted with today’s results. We’ve always maintained that we would exceed the current world record and that the car would bring between $30-$40-million and today the GTO did just that,” said Robert Brooks, Chairman of Bonhams.

What makes this car so special is that it’s built on the GTO chassis serial ‘3851GT’, fresh from the longest-term single ownership of any one of these mouth-watering, completely desirable and much-coveted Berlinettas.

Overall, the Ferrari factory manufactured 39 cars which may be considered within the rarefied ‘GTO’ family.

Four of the core group of 35 cars with 1962-63 style bodywork were later converted into lower, flatter, longer-nosed GTO/64 body form. So 31 of the 250GTO/62-63 series have survived, of which only 28 cars have the 3-litre V12 engine as true ‘250’GTOs, and three 4-litre V12 engines as ‘330’GTOs.

This car is the 17th of the 3-litre true 250GTOs, first completed and campaigned right at the end of the 1962 International race season, and then as rebuilt fresh and ready for a new ownership, and a resumed career, in 1963.