A rare 1962 Ferrari 250 GTO is set to be auctioned by RM Sotheby’s in November 2023. This particular model, known for its captivating history, is expected to surpass all previous records and become the most expensive Ferrari ever sold at an auction.
Described as the “holy grail” of sports cars, this unique 250 GTO, assigned chassis number 3765, boasts a striking Rosso Cina finish. It is one of only three Works examples equipped with Ferrari’s 4.0 liter V12 engine. This engine was specifically designed to comply with new racing regulations. The engine (number 42 SA) comes with a dry-sump lubrication system, special carburetors, and revised camshafts.
Racing History:
Chassis number 3765 debuted at the 1962 Nürburgring 1,000 Kilometers race, achieving first place in its class and second overall.
Ferrari then focused its attention on the 24 Hours of Le Mans that same year. The car underwent modifications, including the installation of a new engine with six carburetors. This modification boosting its power to approximately 390 horsepower. Additionally, improvements were made to the front end to accommodate this new engine and to address minor damages incurred during its initial race. Unfortunately, the 250 GTO encountered an early setback, sliding into a sand bank. It took the team 30 minutes to extract the car and make necessary pit repairs. Although it managed to re-enter the race in 53rd place and climb up to 42nd, it eventually retired after 56 laps due to overheating.
Chassis number 3765 was later sold to a private buyer in Italy in 1962. In November of the same year, it received its third engine, a 3.0-liter V12, which remains in the car today. Over the following years, the car participated in several smaller events and changed hands between owners in Italy and the United States. Finally, in August 1974, Fred Leydorf, the manager of AMC’s engine design team and chairman of the Ferrari Club of America, obtained ownership. The current owner, an Ohio-based collector, purchased the car in April 1985.
Collection of Factory Documents:
The forthcoming sale includes a collection of factory documents that provide detailed information about the car’s early history.
The auction is scheduled on Nov 13, 2023, 5:30 p.m. New York City (2:30 p.m. in California and 11:30 p.m. in Paris).
No pre auction estimates, it is highly anticipated will surpass the previous record for the most valuable 250 GTO.
The current record was set in June 2018 when a 1963 model was sold for $70 million.
However, in order to secure the world’s most expensive car, the auction price will need to exceed double that amount. In May 2022, an RM Sotheby’s auction saw a 1955 Mercedes-Benz 300 SLR “Uhlenhaut Coupé” sell for $143 million.
Interested bidders can find more information from RM Sotherby’s auction directly.