Ferrari 250 GTO heads to auction, could set new price record

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1962 Ferrari 250 GTO bearing chassis No. 3413

1962 Ferrari 250 GTO bearing chassis No. 3413

A 1962 Ferrari 250 GTO has the record for the highest price paid for a car at auction, with a buyer bidding a bit over $38 million to secure the car back in 2014.

Now another 1962 250 GTO, this one bearing chassis No. 3413, is headed to auction and we could very well see the previous record fall. That's because a 1963 250 GTO sold just this month for a whopping $70 million, the highest known price ever paid for a car, so demand is red hot right now.

The latest sale will be handled by auction house RM Sotherby's during its Monterey Car Week event running August 24-25. This is the same auction that will see a McLaren F1 converted to LM spec also go under the hammer.

With just 39 ever built, all of which are still existence, the 250 GTO has become the ultimate collector car, helped along by its exclusivity and beauty. What also makes the 250 GTO special is that it is both a road car and race car, and thus the pinnacle in Ferrari design and engineering in its day.

Chassis No. 3413 is the third example to be built. The car was originally used by the factory as a test car driven by Phil Hill in preparation for the 1962 Targa Florio road race. The car was then sold to its first owner, Italian gentleman racer Edoardo Lualdi-Gabardi, who drove it to a title in the 1962 season of the Italian National GT Championship.

Lualdi-Gabardi took delivery of another 250 GTO in 1963 and sold chassis No. 3413 to racing driver Gianni Bulgari, who went on to lead the Bulgari jewelry company from the 1960s to the 1980s. Under both Bulgari and subsequent owner Corrado Ferlaino’s ownership, the car managed to win its class in the 1963 and 1964 Targa Florio races.

A rare case and incredible feat for any race car, chassis No. 3413 retains its original V-12, five-speed manual transmission, and rear axle. The original Series 1 body of the car was replaced however in 1964 by the Series II design, with the work done by the coachbuilder Scaglietti.

 
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