Haute Auto of the Week: $52 Million 1963 Ferrari 250 GTO
The rest of the car was typical of early-1960s Ferrari technology: hand-welded tube frame, A-arm front suspension, live-axle rear end, disc brakes, and Borrani wire wheels.
From the late 1970s to the late 1980s, classic car values rose rapidly and the 250 GTO, touted as the Ferrari that most successfully embodies the salient traits of the marque, became the most valuable of all Ferraris.
The Ferrari 250 GTO was originally sold for $18,000 when it was first produced – and buyers had to be personally approved by Enzo Ferrari and his dealer for North America, Luigi Chinetti.
Recently this same car went for $52 Million at auction and is considered one of the greatest Ferrari’s of all time.
The 250 GTO was designed to compete in GT racing. Chief engineer Giotto Bizzarrini installed the 3.0 L V12 engine from the 250 Testa Rossa into the chassis from the 250 GT SWB and worked with designer Sergio Scaglietti to develop the body.
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