The Ferrari 250 GTO is one of the most important cars in the history of Ferrari and had made headlines several times in automobile history. Originally built to compete in Group 3 GT racing, the 250 GTO has competed with the likes of Shelby Cobra, Jaguar E-Type, and Aston Martin DP214 in 3 GT races. However, what surprises one most is that after six decades, the GTO is still running and have become a collector's item. There are some features that have distinguished this classic car and those features made it a car like no other setting it on a pedestal for all to behold.
Today, the 250 GTO is the most expensive car that has ever been publicly sold. It has smashed records different times as the most expensive car ever sold and is going strong still. The Ferrari 250 is not just a classic, it has a rich history, great features, admirers, and so on behind its success. However, there are so many hidden facts that everyone forgets about the GTO that contributed to the popularity of this classic.
8 It's Got A Rich History
The Ferrari 250 GTO was produced by Ferrari from 1962 to 1964. The vehicle was produced explicitly for homologation into the FIA's Group 3 Grand Touring Car category; little wonder, it was built with the Ferrari's Tipo 168/62 Colombo V12 engine. Only 36 of the 250 GTOs were manufactured between 1962 and 1964, 33 of which were built with 1962 to 1963 bodywork, and three were built with 1964 bodywork, similar to the Ferrari 250 LM.
In addition, four old cars from 1962 to 1963 were updated in 1964 with Series II bodies. When the new 250 GTO was sold in the United States for $18,000, the buyer was personally approved by Enzo Ferrari and his North American dealer Luigi Chinetti. Since then, this model has been prevalent among car collectors, and sales have been setting price records.
7 Its Design And Development Says It All
The 250 GTO was designed by chief engineer Giotto Bizzarrini. Although Bizzarrini is often referred to as the developer of the 250 GTO, he and several of Ferrari's other engineers were fired in 1962 due to a quarrel with Enzo Ferrari, one of the biggest names in the car industry. The GTO was supervised by the new engineer Mauro Forghieri, who developed the car's body in cooperation with Scaglietti.
The vehicle is based on the 250 GT SWB model, with a slightly different frame structure and geometry to reduce weight, increase rigidity and lower the chassis. The light metal structure of the dry-sump with six Weber 38DCN carburetors has an output of approximately 300 horsepower. The gearbox is a new 5-speed Porsche synchronizer gearbox. Bizzarrini put everything into the design of the car to make it fast and beautiful.
6 It's Got An Unequaled Legacy
Ferrari is still, after all these years, the undisputed king of car creation. Their brainchild, the Ferrari 250 GTO is not giving rivals an inch near it. Ferrari is the world's most famous brand, and its reputation comes from creating some of the most unique and technically outstanding vehicles the world has ever seen.
But, quite possibly, the best example of all Ferrari creations is the famous Ferrari 250 GTO. It surpassed all expectations and has launched itself into car legend status, becoming one of the most collectibles and most sought-after cars on the planet.
5 It Features A Simple and Aerodynamic Body
The Ferrari is made for beauty and speed and Bizzarrini focused his design work on the aerodynamics of the vehicle to improve top speed and stability. The body structure is based on wind tunnel testing at the University of Pisa and road and track testing of various prototypes.
The resulting aluminum hull has a long, low bow, a small air inlet, and a protruding bow air inlet with a removable cover. The underside of the automobile is also protected. The aerodynamic design of the 250 GTO is a major technological innovation from the previous Ferrari GT.
4 It Comes With a Racecar interior
Unlike all the other posh Ferraris, the interior of Ferrari 250 GTO is simple and basic - no fancy knobs or switches as far as electronics were concerned. It only wears a basic speedometer on the dashboard.
There was, however, a gorgeous gated metal shifter, which is still iconic today. Leather was also used in specific areas of the car such as the seats. However, ferrari purposely built the 250 GTO as a pure performance car on the race track.
3 Trims/Variants Also Exists
Each car's manual production, upgrades, and maintenance throughout racing history have resulted in a clear and tangible difference between all the 250 GTOs ever produced.
In 1964, Ferrari commissioned Mauro Forghieri and Mike Parks to redesign the 250 GTO body. The result was what became known as the '64 GTO (or Series II). Three new cars were produced to 1964 specifications, and the factory upgraded four of the previous 250 GTOs. This redesign would allow the GTO to remain competitive for another year because the FIA decided not to approve the 250 LM for GT-class racing in 1964.
2 It Hides A Powerful V12 Engine Under Its hood
Though the entire structure of the car was thoroughly redesigned for the engine, Ferrari chose to go with the engine that had already proven its worth in the 250 Testa Rossa—an all-alloy 3.0-liter (2,953 cc) V12 engine. The engine utilized dry-sump lubrication and was equipped with six twin-choke Weber 38 DCN carburetors.
With this configuration, the massive V12 produced 300 hp at 7500 rpm and 294 nm; 217 lb-ft of torque at 5500 rpm The V12 being a trademark of Ferrari's car will remain as the carmaker is bent on keeping it despite the fact that many are moving towards zero-emission. This power travels to the rear axle through a propeller shaft and is controlled by a 5-speed all-synchromesh manual transmission.
1 Ferrari 250 GTO Record-Breaking Price Timeline
The price of the GTO has been on a rollercoaster ride ever since it left the factory. Starting at a four-figure price, the GTO's value skyrocketed in the late '70s and early '80s. After the car market crash in the early '90s, the price of the GTO projected upwards to what it is today.
The Ferrari 250 GTO has over the years broken several records for the most expensive car ever sold at auction or private sale. The record for the most expensive car ever, previously held by the $35 million Ferrari 250 GTO was broken by another 250 GTO. The car, a 1963 example owned by Greenwich, Conn. collector Paul Pappalardo, sold for $52 million to an unidentified buyer, confirmed by three specialist traders to Bloomberg.
However, at a Monterey auction on 25 August 2018, RM Sotheby's sold a Ferrari 250 GTO (chassis 3413GT) for a total sum of $48,405,000 making it a new record for the most expensive car ever sold at a public auction. The GTO remains one of the most sought-after cars in the collector car world, as only 39 were produced for homologation purposes.