Tag Archives: Ferrari 250 GTO

Another Ferrari 250 GTO Breaks Record

FerrariIt was only back in June that we wrote about a classic 1963 Ferrari 250 GTO that was sold privately for about £52 million making it the most expensive car in the world yet here we are again telling you about another of these classic vehicles that has been sold and has broken another record.

This time, a very rare 1962 Ferrari 250 GTO was sold for a record auction price of $48.4 million. The RM Sotheby’s auction took place at Monterey, California, USA on the 24th to 25th August 2018 and the wonderful classic vehicle attracted a considerable amount of interest as such cars always do. The sale price was in excess of $10 million more than the previous record.

The car had remained in the possession of the same owner for around twenty years during which time it had no doubt been well looked after. Initially, bids of $35 million were sought to get things going. There were three telephone bidders in particular who were outbidding each other over a period lasting almost 10 minutes before the car was sold for $48,405,000.

As we stated back in June, there were very few of these classic Ferraris built which is no doubt one of the reasons why they command such high prices when they do come on the market which is not normally all that often.

You cannot help but wonder just how long it will be before a classic Ferrari 250 GTO sells for $100 million somewhere in the world. Needless to say, we will do our utmost to let you know should this happen.

Here at AIB Insurance, if you are looking for classic car insurance, why not give us a call on 02380 268 351 and speak with a member of our experienced team who will be pleased to discuss your requirements and provide a bespoke, competitive quotation without any obligation. We look forward to hearing from you and being of assistance.

Second Ferrari 250 GTO Built Being Sold

Those of you that have an interest in classic cars will be aware how highly thought of and sought after the Ferrari 250 GTO is. In fact, a 1963 model sold for a world record price of £32 million back in 2013. Rarely do they become available for sale.

ferrari-large_transzgekzx3m936n5bqk4va8rwtt0gk_6efzt336f62ei5uWell, that record may be going to be broken. A delightful blue white stripped left hand drive Ferrari 250 GTO Berlinetta Scaglietti Series One built in 1962 could sell for as much as £45 million. It was the second 250 GTO ever built and the first to be raced so it has a special history. Only thirty-nine Ferrari 250 GTOs were ever manufactured.

Initially, it was used at Monza for factory tests before entering a race in March 1962 at the 11th Annual Florida Grand Prix of Endurance, Sebring 12 hours where it finished second overall but was first in its class. In June 1962 it took part in the Le Mans 24 hour race where it finished in 6th place overall and third in its class. It subsequently took part in numerous other races.Ferrari 250 GTO

In 1968 the classic Ferrari was sold to Mr B Stayman who lived in the USA for $2,500. It had a number of other owners with Mr M De Friece from the USA paying $125,000 for it in September 1978. Its most recent owner Mr BJ Carl purchased it in September 1997. The vehicle took part in a race at the Goodwood Revival in the UK in September 1999. It has been put on display at a number of Concours d’Elegance events.

It is now being sold by Talacrest here in the UK. The company is a specialist in the buying and selling of classic Ferrari cars and has sold over 1,700 Ferraris over the years.

So, if you are interested in buying a classic Ferrari 250 GTO then this may be your opportunity.

Ferrari Sells For 32 Million Euros

A classic red Ferrari 335 Sport Scaglietti that was one of only four models built back in 1957 has been sold at a Paris auction for 32 million euros with this equating to around £24.8 million/ $35.8 million. Although it is not the most that a Ferrari has gone for as a 1962 Ferrari 250 GTO achieved a price of $38 million in 2014, for a racing car, this is a world record and it is also the most expensive car that has been sold in Euros.

Ferrari 335 Sport ScagliettiThe classic car has been driven by some well-known racing drivers that included the famous Sir Stirling Moss who won a Grand Prix in Cuba in it the year after it was built. It was driven by the British racing driver Mike Hawthorn at a Le Mans 24 Hour race when it set a lap record achieving a speed averaging 124mph. It also took part in the Italian Mille Miglia in addition to some other races.

It was originally fitted with a V12 3.8 litre engine that produced an impressive 360 bhp as it accelerated to a top speed of 186mph. However, having taken part in a number of races, the engine was replaced with a 4.1 litre one that produced 400 bhp.

The car was bought in 1970 by the late Pierre Bardinon who was a well-known collector of cars as well as being a racing driver and it remained in the family until being sold a few days ago. In fact, he amassed a collection of around fifty Ferraris.

Apparently, two interested purchasers spent the best part of ten minutes bidding against each Ferrari 335 other for the car at the auction last week. The buyer’s name has not been announced.

Here at AIB Insurance, we have had the pleasure of insuring numerous classic cars although, admittedly, not one worth 32 million euros – YET! So, if you are the proud owner of a classic car why not give us a call on 02380 268 351 and let one of our experienced team obtain a competitive quotation for you without any obligation.

10 Of The World’s Most Expensive Luxury Car Crashes

Obviously, nobody likes to be involved in a motoring accident but for those select few that are the proud owners of extremely expensive, often high performance luxury cars it is probably more disconcerting. After all, they are faced with the possibility of a car costing hundreds of thousands if not millions of pounds being written off or requiring a substantial sum of money being spent on it in repair bills.

We have put together a list of some accidents that have involved such vehicles that we believe you will find interesting: –

1. Ferrari 250 GTO 1962 -1964 – £17.6 million
Having paid $28.5 million for this car back in 2008, its British owner regrettably crashed the vehicle during a classic car race by driving into the back of another vehicle. The car below is fortunately not the car in question!Ferrari 250 GTO Insurance

2. Ferrari 250 GT Spyder – 1961 – £6.19 million
Again, this classic car was bought at auction back in 2008 for $10 million and stored close to a beach in California. Unfortunately, it was destroyed in a hurricane.

3. McLaren F1 – £3 million
You have probably heard of the actor Rowan Atkinson who has starred in Mr Bean and Blackadder. Well, back in August 2011, he crashed the sports car into a tree near Peterborough. At the time, it resulted in the biggest payout by a car insurance company to repair the vehicle amounting to £910,000.

4. Ferrari x 8, Mercedes Benz x 3, Lamborghini – £2.5 million
This multi-car crash took place in December 2011 on a motorway in Japan and involved a number of cars including the above. Apparently, one of the Ferraris at the front lost control and the other vehicles ploughed into the back.

5. Ferrari 250 GT TDF – 1959 – £1.02 million.
This classic car was nicknamed the “Tour de France” and crashed into a wall whilst taking part in the 2003 Shell Ferrari-Maserati Historic Challenge at a racing event in Connecticut, United States.

6. Ferrari Enzo – 2002 to 2004 – £1 million.
A Swedish businessman was travelling at 196mph in Malibu back in 2006 and lost control of the vehicle that has a V12 engine hitting a pole and wrecking the vehicle.

7. Jaguar XJ220: £900,000.
The owner of this car was taking part in the world famous Goodwood Festival of Speed and unfortunately was involved in a crash causing extensive damage to the bonnet.

8. Ferrari F50 – 1995 to 1997 – £850,000
Only 349 of these 520bhp V12 mid-engine sports cars were produced. This vehicle smashed into a lamppost in October 2014 whilst on its way to Silverstone racetrack causing considerable damage to the vehicle.

9. Bugatti Veyron – £830,000
This vehicle similar to the one pictured below is one of the fastest that is legally aloud to drive on our roads being capable of reaching over 250mph. Back in March 2007, one was being driven in Surrey by a relative of the owner who had only taken possession of the car a week earlier. Unfortunately, it was involved in a collision.Bugatti Veyron

10. Pagani Zonda – £669,000.
Only just in excess of 100 of these supercars were ever produced with some capable of reaching over 200mph. The owner of the car was involved in a crash whilst driving it in Hong Kong coming back from a racing event. Apparently, an out of control lorry caused him to drive into a number of cars that were parked.

Those of you fortunate to own one of these types of vehicles may be interested to read that here at AIB Insurance we specialise in arranging insurance cover for many such vehicles and offered tailored solutions for the performance and exotic car owner.

Call the team now on 02380 268351 for an instant quote and cover.