• ETC
  • Jul 29, 2014
UPDATE: A previous version of this article incorrectly listed the production period for the 250 GTO. The text below has been updated with the correct information.

Prices keep climbing for the Ferrari 250 GTO with virtually no end in sight. In 1969 one sold for just $2,500, but by the 1980s they were trading for hundreds of thousands, then millions, then tens of millions to the point that the last last year, one was reported to have changed hands at $52 million. But now there's a GTO for sale in Germany that could eclipse even that gargantuan price tag.

Ferrari made 39 examples of the 250 GTO between 1962 and 1964, and the item listing on mobile.de doesn't give much in the way of specifics as to which exactly we're looking at. But last we checked, there were only two GTOs in Germany, and the other one was silver. That leaves chassis number 3809GT, which was delivered new in '62 to Switzerland and participated in numerous endurance races and hillclimb events throughout the early 60s. 3809GT has been owned until now by one Hartmut Ibing, who bought it in 1976 when values were in the tens of thousands, not tens of millions. Given how his asset has appreciated so dramatically, and with less than 10,000 miles on the odometers over 52 years, we could understand how Ibing would want to cash out.

Of course we could be mistaken and we could be looking at an entirely different example – the vast majority were, after all, painted red and fitted with blue upholstery just like this one – but either way, we're looking at a price tag of 47.6 million euros. That's nearly $64 million at today's rates, inclusive of Germany's 19 percent VAT rate that adds a staggering $10 million in taxes to the pre-tax price of 40 million euros, which comes in under $54 million but would still be the most ever paid for a GTO (or really, just about any car ever made).

If that's too rich for your blood but you're still in the market, you could try your luck with the one which Bonhams will auction off at The Quail next month. Who knows, with no reserve price, maybe you'll do better. But more likely, the bidding will have driven the sale price up even higher and Ibing will rush to increase his asking price before a rejected bidder snaps his up.


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    • 1 Second Ago
  • 18 Comments
      Car Guy
      • 5 Months Ago
      I can't imagine having that kind of money for a collector car. That said, I can certainly see an ultra rare car having such a value verses a dusty old painting.....
      torqued
      • 5 Months Ago
      "Ferrari made 39 examples of the 250 GTO between 1962 and 1962" That's a pretty small window of time.
      Lewis
      • 5 Months Ago
      It is worth noting in 1969, $2500 would not get you a new Corvette and assorted now classic muscle cars. It turns out Ferrari GTOs beat pretty much all tangibile investments at that rate of return. Just wait until one comes up with some serious provenance including major wins with famous drivers at the wheel. Can $100 million be far?
      Zaki
      • 5 Months Ago
      $68 million?? That's all!? Are there no well to do people who will pay what this priceless piece of art is really worth? What has the world come to and what a shame that the poor owner of this gem has to be forced to part with it for anything less than at least a Billion dollars!! Perhaps methos1999 can spare some of his pocket change and give this piece of heavenly art a place in his 5000 car garage.
      Zaki
      • 5 Months Ago
      It is sad that there are children dying of hunger and disease every single day and this old pile of metal, nuts and bolts is considered much more valuable than their life. It is a sad commentary on human beings and their values.
        methos1999
        • 5 Months Ago
        @Zaki
        Yes, very sad indeed, but then again the wealthy also spend their money on houses much bigger than they need, rare paintings, and investments that just make them more money - welcome to capitalism. But then again, some wealthy recognize there is only so much they can spend on themselves and decide to become philanthropists. When you have that much money you'll be free to do with it as you please as well.
        Car Guy
        • 5 Months Ago
        @Zaki
        And what have YOU DONE this week to help children besides complain about how other people are spending their money??? I can guarantee one of these collectors gives more to charity in one year than you will your entire life.
      thequebecerinfrance
      • 5 Months Ago
      Some people just have too much money. No car in the world is worth that amount of money, it"s just absurd.
        Lewis
        • 5 Months Ago
        @thequebecerinfrance
        I bet you would be singing a different tune if your family had picked it up for $2500 in 1969. Worth can mean different things. Basically, this car does not actually do much more than a normal modern car which you could then say it is not worth that money. Then there is the fact that someone will pay 64 mil, so it is worth 64 mil. In other words, it is worth what someone will pay.
        methos1999
        • 5 Months Ago
        @thequebecerinfrance
        Hhmm, likewise no painting is worth that much, but there are many in private hands that have sold for even more than $64 million. While you are correct that some people just have too much money, you are incorrect in viewing this as being about a "car". People that spend this kind of money likely see it as more than the sum of it's parts - it's an investment, it's history (racing, ferrari, italy), it's rolling art, and yes, it is an automobile.
        Lachmund
        • 5 Months Ago
        @thequebecerinfrance
        That's not very intelligent thinking. This car will be worth so much more in some years and therefore is a much better investment than giving your money to some criminal bank.
      GTO
      • 4 Months Ago

      I have a 250 GTO for sale.

      Very serious!

      Contact me if interested.

      bleexeo
      • 5 Months Ago
      I'd buy that for a dollar!
      jonnybimmer
      • 5 Months Ago
      The part that fascinates me isn't the record-breaking price tag (though it is pretty staggering), but that the GTO for sale is a relatively ordinary chassis. It has a little racing background, but it lacks history with famous drivers/owners/races. My best guess is that the car either retains much of it's originality due to it's low usage or the seller is just lucky catching the current trend of seeing how high people are willing to pay for a vintage Ferrari.
      Alan Ko
      • 5 Months Ago
      Good news - Germany doesn't have VAT on used car sales, even if a dealer is involved. A dealer only has to tax the sale price minus purchase price.
      dw666
      • 5 Months Ago
      It's just me or does anyone else wonder why an eight digit car is sold via mobile.de, a platform where you usually find used cars from just around the corner? I hope the new owner will be lucky to "also receive MEGA NFC free for one year. MEGA NFC 1.000 times stronger than vitamin A+E, the strongest anti aging compound of the world." If the car won't let you look younger at least you have a glovebox full of anti aging pills... "Pictures shown are just examples" ??? Exhaust rating "Euro 2" A GTO with catalyst - Interesting...
      vietusa74
      • 5 Months Ago
      God, those are beautiful machines. Wish I can just take one for a drive.
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