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RPM TV Website | March 22, 2024

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Estimated $70 million auction price for Ferrari 250 GTO

Ferrari 250 GTO
Adam Schoeman

The Pebble Beach motor show is not your normal sort of car fair. It attracts some of the most exotic and one-off supercars, which in turn attracts some of the wealthiest car enthusiasts from around the world.

Seeing as there is a lot of vehicle-appreciating money floating around Pebble Beach every year, the auction that is held there seems to draw a roster that has often broken selling price records, and this year seems to be following in that vein.

The car in question is a Ferrari 250 GTO, which was produced between 1962 and 1964, and where manufactured to satisfy the FIA’s homologation requirements for racing in the Group 3 Grand Touring Car category. Only 39 GTO’s were built and it has often been hailed as the greatest sports car ever built.

It would make sense then that it would raise a decent amount of money at auction, but while the original estimates pre-auction were in the $30 million region, according to Hagerty Insurance the GTO could see a final bid closer to $70 million.

This would not only surpass the current vehicle related auction price, which is held by a 1954 Mercedes-Benz W196 Silver Arrow grand prix racer and that went for $30 million, but more than double it.

Things can’t be going that badly for the US economy if this sort of money is changing hands!

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