Friday, January 21, 2022
News All the info on the $48 million Ferrari GTO sold at auction

All the info on the $48 million Ferrari GTO sold at auction

A Ferrari 250 GTO fetched over $48 million over the weekend at the RM Sotheby’s auction held as part of the Pebble Beach Concours d’Elegance. It’s a fascinating sum of money for what is assuredly a fascinating car.

The 1962 250 GTO in question was owned by Greg Whitten, one of Microsoft’s 15 first employees, who purchased the car back in 2000 for less than $5 million. Less than 20 years later, the car is worth 10 times more, and Greg, we’re quite sure, is a happy guy right now.

The RM Sotheby’s website has plenty of info on this pricey Ferrari. This particular GTO is the third every built by the Italian automaker. Said to be in absolutely pristine condition, it finished first in the 1962 Italian GT championship driven by Edoardo Lualdi-Gabarti. It also won the 1964 Targa Florio on its way to 15 total wins from 1962 to 1965.

A good investment

Check out any “most expensive car sold at auction” article, and you’re sure to find a 250 GTO somewhere in there. Only 36 units were built, making them some of the most exclusive a rare Ferraris one can own. That alone pushes the market value of these cars up the ladder.

They do well at auctions, but they also tend to do very well on the private market as well. Earlier this year, CNBC reported that a GTO was sold in a private transaction for more than $70 million.

A 250 GTO also held the previous most expensive car sold at auction title. Four years ago, one model fetched $38.1 million.

We don’t yet know who purchased this Ferrari 250 GTO, but it’s a safe bet he’s not too worried about this ROI.

Trending Now

Vehicular Manslaughter is Verdict Against Tesla Driver on Autopilot

The 2019 crash killed two occupants in a Honda Civic. These are the first felony charges handed down following a fatal crash involving...

The McLaren Artura Hybrid Supercar Could do 50 Miles per Gallon

According toMcLaren, this model aims for high performance and high efficiency The hybrid system is inspired by the one used in the company’s...

Consumer Reports Says EVs are the Least Reliable Vehicle Type

The data collected involved 2019 and 2020 model year EVs. 2021 model years fared slightly better. ICE vehicles are, for the moment, more...

Dodge’s 24 Months of Muscle Campaign Shows Coyote Roadkill

The coyote represents Ford’s 5.0-litre V8. Dodge launched its “never lift” business plan in November. It calls for new performance-related news every three...

2023 Chevrolet Corvette Z06 Pricing to be Announced in March

The 2019 C7 retailed for $82,000 US. Most are guessing that $85k to $90k will be the price. The Chevrolet Corvette had a few...
Charles Jolicoeur
Charles Jolicoeur was studying to be a CPA when he decided to drop everything and launch a car website in 2012. Don't ask. The journey has been an interesting one, but today he has co-founded and manages 8 websites including EcoloAuto.com and MotorIllustrated.com as General Manager of NetMedia360. He also sits on the board of the Automotive Journalists Association of Canada. Send me an email

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.