Ferrari are still, after all these years, undisputed kings of car creation. They are the world's most famous brand, and their reputation comes as a result of creating some of the most amazing and technically outstanding vehicles the world has ever seen. Quite possibly the best example of all Ferrari creations is the famous Ferrari 250 GTO.

Made with the building blocks of a race car, it surpassed all expectations and has launched itself into car legend status, becoming one of the most collectible and most sought after cars on the planet. Below are some of the things you may have forgotten about the Ferrari 250 GTO.

10 Race Car Heritage

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source: wsupercars

Anyone who knows the 250 GTO knows it has a history as a racing car. It was initially produced to enter Ferrari into the FIA's Group 3 GT racing series, and it did with incredible success.

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Via: wsupercars

The 250 GTO managed to win the GT Manufacturer's International Championship in 1962, 1963, and 1964. Also, in the years 1963 and 1964 the 250 GTO won the Tour de France Automobile, kick-starting a run of nine years of Ferrari dominance.

9 The Engine

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source: wsupercars

All of that racing wouldn't be possible without a pretty outstanding engine under the hood, and the 250 GTO is said to have one of the best engines ever put into any car to this day.

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source: wsupercars

A true engineering masterpiece is what lies beneath the hood of the 250 GTO in the form of a 3.0-liter V12 outputting around 300 hp. This helped the Ferrari reach speeds exceeding 170 mph, making it astonishingly quick for a car made in the 1960s.

8 Extreme Rarity

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source: wsupercars

Ferrari's are known for being somewhat collectible, after all, they are quite possibly the most famous and world renowned manufacturer ever with a history of creating some of the greatest sports cars and super cars of all time.

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source: wsupercars

None are as highly sought after as the 250 GTO. This is down to the sheer excellence of the car as well as its rarity, with only 39 cars being made. This makes it the ultimate collector's item for any motoring enthusiast.

Related: These Are The Best Features Of The Ferrari 296 GTB

7 Current Value

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source: wsupercars

This level of rarity and near automotive perfection comes at a price. The 250 GTO is possibly the most valuable car on earth, and a number of these rare vehicles have been sold at auction for eye watering prices.

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source: wsupercars

There have been 250 GTO's sold at auction for prices in excess of $40M. A 1963 GTO also broke a world record for a private transaction for a car at $70M, making it by far the most valuable car in the world.

6 First Purchases And Original Price

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source: wsupercars

Despite these ludicrous sums, the Ferrari hasn't always been that expensive, of course. Looking back at when the car was first introduced, it seems quite reasonably priced, all things considered.

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source: wsupercars

In fact, back when the 250 GTO was introduced and available for purchase, the car had a price tag of $18,500. This is roughly $150,000 by today's standards. However, it wasn't just as simple as going down to your local Ferrari dealer and signing a few papers, you actually required approval from Enzo Ferrari himself before you were handed the keys.

5 The Design Process

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Via: wsupercars

The design of the GTO was a fairly complicated one with chief engineer Giotto Bizzarrini heading the 250 GTO operation, that was until he and a vast majority of Ferrari engineers were fired in 1962 after a dispute with Enzo Ferrari. Despite this, however, Bizzarrini is still often credited as the designer of the car.

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source: wsupercars

Practically speaking, the design process wasn't too difficult, as the GTO used the engine and chassis components from previous competition cars, with its chassis being largely similar to the 250 GT SWB car. Improvements came in the structure, with weight reduction and a stiffer and lower chassis.

Related: V6 Super Car Showdown: Ferrari 296 GTB Vs McLaren Artura

4 Variations In Models

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source: wsupercars

Due to the hand built nature of the vehicle, no two 250 GTO's were the same. The bodies were made from aluminum which was beaten and contained differences from the cosmetic to more mechanical ones.

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source: wsupercars

Perhaps the best example of this is that of the initial 18 cars, which were supplied with the rear spoiler separately and later bolted to the body. One in particular had many changes and had a completely unique body design, looking more like the 330 LMB. The main differences included the rear wing and the size of the radiators.

3 Homologation Process

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source: wsupercars

The process for getting the GTO into racing to begin with caused a little bit of trouble. This is because at the time in 1962, for a car to be entered into the Group 3 Grand Touring Car racing series, 100 production cars needed to be built according to FIA regulations.

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source: wsupercars

As you may remember, only 39 250 GTO's were produced. For a while, a rumor persisted that Enzo Ferrari created an elaborate plan to shuffle the group of GTO's when the FIA inspectors came to evaluate, therefore giving the impression that many more cars existed. However, the truth is that the car passed due to the aforementioned 250 GT Berlinetta SWB as they shared the same basic DNA.

2 The Interior

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source: wsupercars

Just like the exterior of the vehicle, the interior is also a sight to behold, with classic Ferrari craftsmanship on display in all its glory. However, there is very little on display given the intended purpose of the vehicle as a race car.

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source: wsupercars

So much so, in fact, that at one point, Ferrari even considered removing the speedometer from the instrument cluster. The leather upholstery, carpets and roof headlining were all swapped in favor of cloth seats and an exposed frame with stripped door panels. The 250 GTO is a true drivers' car, make no mistake.

Related: A Look Back At The Ferrari 330 TR

1 Reliability

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source: wsupercars

Rather strangely given that the car is indeed Italian and Italian cars typically have a reputation for breaking or having surprisingly poor build quality given the often high price tags, the 250 GTO is renowned still for its reliability.

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source: wsupercars

The engine and chassis are nothing short of works of art, and the benefit of this is that the 250 GTO was incredibly reliable, especially for a race car. It's also helped by its incredibly rigid frame, making it very tough despite its racing purpose.