Records are made to be broken, and it seems that one may have just been snapped again. An Italian website is reporting that a Ferrari 250 GTO, owned by American collector Paul Pappalardo, recently sold for $52 million.

Now, this is far from confirmed - Pappalardo responded to questions about the sale saying, "I do not confirm these things, I have no comment about!" - and if it's a private sale, it's unlikely that we'll ever know the exact amount of the transaction. If that figure is correct, though, it easily eclipses the $35 million made in a 250 GTO sale in April of 2012, as well as the $27.5-million sale of a 1967 Ferrari 275 GTB/4 NART Spider sold at RM's Monterey auctions in August.

What makes a car that had 39 examples built more valuable than one that had only 10 units produced? Racing pedigree. The 250 GTO is a racing legend, with each car having a unique provenance that is more than enough to add some serious value. According to 0-100.it, the GTO in question, 5111GT, found its first owner in French racer and winner of the 1964 24 Hours of Le Mans, Jean Guichet, back in 1963. The Frenchman used the V12-powered racer to win the GT category of the Tour de France Automobile in that same year.

We'll follow up on this story as more information becomes available. Until then, be sure to peruse our 250 GTO gallery up top (car shown is 250 GTO 4675GT, sold in May 2010 for $18 million), as well as one from Pebble Beach last year, below.


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  • 24 Comments
      Teleny411
      • 1 Year Ago
      I think if I had 52 million spare, if buy an F355 and use most of the rest for charity. I love the GTO but no car is worth 52 million to me.
      641Workmaster
      • 1 Year Ago
      Why not just buy 52 new Ferraris? or your own auto company?
        DTGM
        • 1 Year Ago
        @641Workmaster
        Because 52 new Ferraris aren't as specially as one of the most iconic cars ever made.
        Andy Drake
        • 1 Year Ago
        @641Workmaster
        It's not so much the sheet metal or engine but rather the history that goes along with it.
        JaredN
        • 1 Year Ago
        @641Workmaster
        For people with that much money, it isn't an "either/or" question. The buyer probably already has several new supercars. But he also wanted a GTO, so now he has one.
        Bobby_Sards
        • 1 Year Ago
        @641Workmaster
        So you're saying each Ferrari would cost average $1m. Seeing that a normal condition F40 goes for about $600k, you're looking at a really wild collection of cars. To up-keep these cars you're looking at spending about $100k a year. To store 52 cars is a different story. That cost alone will set you back at least $1m-2m if you're planning on storing in a commerical area, or $5m if you plan on building in a residential neighbourhood. Dont get me started on starting your own auto company now....
      • 1 Year Ago
      [blocked]
        gtv4rudy
        • 1 Year Ago
        You are wrong carguy. Many classics aren't trailer queens, they'll be raced hard at Laguna Seca, Watkins Glen and tracks in Europe.
      bleexeo
      • 1 Year Ago
      I'd buy that for a dollar!
      DTGM
      • 1 Year Ago
      Saying 39 example versus 10 isn't really a good example. Fact is while there were 39 examples of the GTO built they are very different from each other.
      RetrogradE
      • 1 Year Ago
      "far from confirmed. . ." ? I'll confirm it right now: my wire went out yesterday. Kidding--I have more common sense than that.
      Lachmund
      • 1 Year Ago
      I'd definately k*ll for this.
        • 1 Year Ago
        @Lachmund
        [blocked]
      lthrnck68
      • 1 Year Ago
      250 GTO is a classic. I could see a couple of million for one, but not those kind of prices reported. That's idiotic. Makes me wonder how they were able to get that kind of money together in the first place.
      danfred311
      • 1 Year Ago
      Just stupid
      Dean
      • 1 Year Ago
      Oh to be rich... $52M for a Ferrari isn't surprising, what surprises me is that people will pay millions of dollars for paintings that they cannot even enjoy a fraction of a percent of that which you could enjoy this.
      GasMan
      • 1 Year Ago
      It is so choice. If you have the means, I highly recommend picking one up.
      rocketmoose
      • 1 Year Ago
      It is a beautiful car, in all fairness...
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