Ferrari 250 GTO sets EUR24.3m record at private sale
A 1963 Ferrari 250 GTO has changed hands for EUR24.3m, underlining the model’s status as one of the most valuable and sought-after classic cars in the world.
A 1963 Ferrari 250 GTO has been sold for EUR24.3 million, setting a new record price for the model and confirming its place among the world’s most desirable classic cars. The transaction, completed privately, highlights the sustained demand for rare Ferraris among top-end collectors.
A Rare Example Changes Hands
The car in question, chassis 5095 GT, is one of just 39 examples built between 1962 and 1964. When new, the 250 GTO was offered for approximately EUR7,000. Its value has since multiplied many times over, with this latest sale eclipsing previous benchmarks for the model.
Powered by a 3.0-litre V12 engine derived from the 250 Testa Rossa, the 250 GTO produces around 300 horsepower, sent to the rear wheels through a five-speed manual gearbox. The car’s engineering and racing pedigree have made it a fixture at historic motorsport events and a mainstay of high-value collections.
Rising Values for Rare Ferraris
The 250 GTO’s value has risen sharply since the late 1970s, when classic Ferraris first began attracting serious money at auction. In 1987, a similar car sold for about USD1.6m, a figure that seemed extraordinary at the time. The latest EUR24.3m sale reflects the continued upward trajectory for the rarest models from Maranello.
Investment Performance and Market Context
The previous owner of 5095 GT reportedly realised a EUR5.4m gain over the 2008 purchase price, reflecting the strong investment performance of top-tier classic cars. While the headline figures attract attention, the market for such vehicles remains limited to a small number of buyers with the means and inclination to compete for the most coveted examples.
250 GTO’s Appeal to Collectors
Beyond its rarity and performance, the 250 GTO’s enduring appeal lies in its racing history and the exclusivity of ownership. Many examples have illustrious competition records, and the model’s eligibility for prestigious historic events only adds to its desirability. For collectors, the 250 GTO represents both an automotive icon and a tangible asset that has consistently outperformed many traditional investments.
