Ferrari 250 GTO set to break records at auction!

Will records fall? There’s a good chance. This is only the third GTO in a public sale in the 21st century. The auction GTO bar is currently set at US$38m (£30m in 2014) that Bonhams raised for a ’62 GTO four years ago. But the holy grail of collectors’cars has changed hands privately for more than that, including one most recently for an unconfirmed £52m ($70m). This for a car that cost $18,000 new. So, it’s all to play for…

RM Sotheby’s, which will be auctioning the latest of the famous 36 GTOs to change hands at its Monterey sale on 24-25 August, has put a guide of US$45m on it, which is about £35m, at current rates at least. It’s a GTO – thus eye-wateringly desirable – but there are plenty of reasons to see why this particular GTO is going to make such a prize for its new owner. 

Watch the 250 GTO on the track with current owner Dr. Greg Whitten behind the wheel here:

This is a car that ticks a lot of boxes. It’s a ’62 car – the third GTO ever built – rebodied by Scaglietti as a Series II car in 1964, hence the the LM-style rear bodywork. Only four Series Is were updated in this way. 

It’s matching numbers and original everywhere including engine, gearbox, rear axle and body. And it comes with a period race history that saw it compete 20 times, never crash, never fail to finish…and on the way pick up the 1962 Italian National GT Championship and class wins in the 1963 and 1964 Targa Florio. Phil Hill drove it for a bit too, when it was a factory test car.  

For the past 18 years it has been owned, and extensively driven, by Dr Greg Whitten, former chief software architect at Microsoft. As well as competing in the car at historic events around the world, Dr Whitten has participated in four “GTO tours”– the exclusive driving adventure to which only GTO owners get invited. 

A great car and a ticket to the world’s most exclusive car club…it could be you! The auction is being held at the Monterey Conference Center during Pebble Beach Concours d’Elegance motoring week. Just remember to take your chequebook.