Ultra-rare Ferrari 250 GTO heading to auction, $95 million price estimated

Out of the 39 examples of the Ferrari 250 GTO built, this is the only one raced by the Italian factory – leading experts to predict a sale price of more than $US60 million ($AU95 million).

One of the rarest examples of Ferrari’s most valuable classic cars is due to be auctioned in New York next month, and it is being tipped to eclipse the eye-watering record for the famous marque.

Listed by RM Sotheby’s, this 1962 Ferrari 250 GTO is one of just 39 built by the Italian car-maker – with 34 produced with the ‘Tipo 1962’ bodywork – and boasts the claim of being the only chassis which was raced in period by Scuderia Ferrari.

While 36 of the 39 250 GTOs were powered by a 3.0-litre V12, this example – designated Chassis 3765LM – was one of three to be fitted with a larger 4.0-litre V12 engine, with the remaining two raced by Ferrari’s customer teams.

Chassis 3765LM is seen wearing the number #120 for the 1962 Nurburgring 1000km

After winning its class and finishing second overall in the 1962 Nürburgring 1000km race, the 250 GTO was raced at that year’s 24 Hours of Le Mans, where it fought for the lead on the opening lap but later retired.

Following the DNF it was sold to a new owner who had the 250 GTO fitted with the smaller 3.0-litre engine and a number of other modifications made, before it was raced in a number of hillclimb events by him and the car’s next owner.

Not including Ferrari, this 250 GTO has been owned by six private buyers and has remained in the collection of its current owner – who lives in Cincinnati, Ohio – since 1985.

At the 1962 24 Hours of Le Mans, the Ferrari 250 GTO was campaigned as the #7

In August 2011, Chassis 3765LM was displayed among 23 other 250 GTOs at the Pebble Beach Concours d’Elegance, where it was judged to be the second-best presented car there – before going on to win the Best-of-Show award at the Amelia Island Concours d’Elegance a year later.

According to RM Sotheby’s, this Ferrari 250 GTO is estimated to sell for more than $US60 million ($AU95.44 million) which would easily beat the existing auction sale record for the model – though not the overall highest price for a car.

In 2018, a Ferrari 250 GTO set the record for the most expensive car sold at auction at the time, selling for $US48.405 million – equivalent to $US59.34m/$94.39m today.

While the Ferrari was ultimately dethroned by a one-of-two 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupe in May 2022 – with a reported price of €135 million ($AU203 million) – the German sports car was sold at a private auction and remains on display in the Mercedes museum.

The Ferrari 250 GTO Chassis 3765LM is due to be auctioned in New York on 13 November 2023 US time.

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