This 1962 Ferrari Could Fetch $60 Million and Become the Marque’s Most Expensive Car Ever Sold at Auction
A stunning example of what many collectors consider to be the ultimate Ferrari is about to head to the auction block.
RM Sotheby’s will take bids for a spectacular 1962 330 LM/250 GTO by Scaglietti in New York this November. It’s exceedingly rare for an example of the race car to end up on the open market, which is why the auction house believes it can set a new record for the marque.
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There aren’t many cars that have combined style and substance like the 250 GTO, which was built between 1962 and 1964. The long-nosed grand tourer is one of the best-looking grand tourers Ferrari has ever built. It was also powered by a mighty Colombo V-12, which helped it take home FIA’s International Championship for GT Manufacturers three years in a row. Add In the fact that only 36 examples were ever produced, and it’s little wonder the race car is so sought after.
This example, chassis no. 3765, is one of only two examples ever raced by the marque’s own racing team, Scuderia Ferrari, according to The Wall Street Journal. The car performed well during its brief competitive career. It may not have finished the 24 Hour of Le Mans in 1962, where it was driven by Mike Parkes and Lorenzo Bandini, but it did win its class and place second overall at the Nürburgring 1,000 Km the month before. The vehicle was also the runner-up at the Sicilian Hillclimb championship in 1965.
The car, which has won numerous awards at auto shows over the decades, looks impeccable. It has a beautiful Corso Rossa finish adorned with no. 7 gumballs and a period-correct interior with blue seats. It was initially sold for $6,000 way back in 1964, though its current owner, Ohio-based collector Jim Jaeger, paid $500,000 (roughly $1.4 million in today’s money) for it in 1985.
The classic car market may be cooling ever so slightly, but RM Sotheby’s has high hopes for this 250 GTO, which is scheduled to go up for auction on November 13. The last time an example was publicly sold, in 2018, it went for a then-record $48.4 million. The auction house thinks this example can outdo that. It’s asking $60 million for the car, which, if realized, would make it the most expensive Ferrari ever sold at auction (another 250 GTO sold for $70 million in 2018, but that was a private sale).
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