The 350 GT was Lamborghini's first car, and the launch of the car also launched Lamborghini into the public eye. With their prize car being praised for easy operation, refinement, and performance, the 350 GT helped establish Lamborghini as a luxury vehicle company that made quality cars.

These vehicles were also quite rare, with only a certain amount made during the production run of 1964-1966. As a result of both their age and limited production run, combined with recently-renewed interest and collectors taking initiative, prices for these 350 GT units have skyrocketed to the point where they cost more than 50 times their initial value.

Read on to find out more details about the price range of a 350 GT Lamborghini in the modern-day car economy.

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Lamborghini 350 GT: Exponential Price Increase

What once cost $13,900 at the time of release now costs $726,000, assuming the condition is pristine. Further, the cost of a tune-up alone is $3,500. According to classic.com, Out of 11 sales of this model of Lamborghini, the highest price in a sale was $758,500 and the lowest price in a sale was $252,000. The average price in a sale, however, was $538,632, which is still significantly more affordable than the highest sale price.

That said, part of the exponential increase in price is age, as this is a vehicle from the mid-1960s; another factor is that it was a limited release vehicle from the beginning. Very few were built back in the day. In fact, when production ceased in 1967, only 120 units were finished.

Analysts have noted how these vehicles are catching up to their true value after they had been undervalued for decades. It also helps that there's been a renewed interest in Lamborghinis recently, and many collectors have taken initiative to restore old 350 GT models as a result. Its status as a collector car has only been improved, which contributes to the big raise in price.

Lamborghini 350 GT: Back In The Day

When Lamborghini first became established, it was the 350 GT that put them in the public eye. This car is credited with the launch of Lamborghini because it was the first vehicle the company sold to the public. Further, it was well-received thanks to its easy ability to operate, its solid performance, and its notable refinement. The original models had a 3.5-liter V12 engine, though they have been known to be upgraded to the 4.0-liter V12 engine, especially with collectors restoring them recently. When millionaire Ferruccio Lamborghini decided to make a more refined vehicle, he aimed to counter the competition at Ferrari and their louder, race-oriented, track-based vehicles. Hence, the 350 GT was born.

The first model of this car debuted at the 1964 Geneva Motor Show. The concept car did so well that the production version hit the sales floor just five months later. Several aesthetic and physiological modifications were made between concept cars and production cars for practical purposes. The success of the 350 GT inspired the company to proceed with newer, similar models, such as the Diablo, Veneno, Countach, and Gallardo, and gave them stability and financial security to continue. Most notably of all, the success of the 350 GT established Lamborghini as a serious competitor to Ferrari, who took the hint and began making their next iteration of models.

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Lamborghini 350 GT: Ancient Specs

Naturally aspirated and made with aluminum alloys, the specs on the 350 GT are somewhat distinct. As mentioned before, only 120 were made in the two years it was in production. Its block material was made of an aluminum alloy, and it had a 9.5:1 compression ratio.

It also put out 239 lb-ft of torque at 4,000 RPM, with rear-wheel-drive and a weight of 3,200 lbs. It could hit 60 MPH in just 7.4 seconds, and it used a ZF 5-Speed manual transmission. That said, it only got 13 MPG, which, in comparison to today's cars, is poor mileage and fuel economy.

Lamborghini 350 GT: Auction Performance

The price range for 350 GT models sold at auctions is a little more volatile and wide. Back in 2010, model units of the 350 GT sold for only $165,400. However, the very next year showed a spike, as one sold in August 2011 for $434,500.

Further, while the price range for dealerships ends around $726,000, auctions can often have bidders going beyond the main price range. Such was the case in August 2015, when one model sold for $935,000. Since then, a lot of models at auctions have fallen within the dealership price range.

Sources: sportscarmarket.com, classic.com, classicdriver.com, supercars.net, lambocars.com, hemmings.com, rmsothebys.com,