Unique Ferrari 250 GTO to be auctioned

RM Sotheby’s will auction a very special and storied Ferrari 250 GTO on November 13 in New York.

Only 32 GTOs were homologated for the FIA Group 3 Grand Touring Car racing category. Power was courtesy of a 3.0l V12 engine and the “250" denotes the displacement of each of its cylinders.

By late 1961 Ferrari had begun to develop a competition replacement for the 250 GT Short Wheel Base Berlinetta as the sportsracer approached its limits. Legendary engineer Giotto Bizzarrini developed new coachwork through aerodynamic testing and a newly developed 3.0l short-block V12 breathing through six dual-throat Weber carburettors.

This was met with a new type 539/62 chassis featuring enhancements, including smaller, lighter tubing in some areas of the frame, a synchromesh five-speed gearbox, and a revised rear suspension with stiffer springs and a stabilising Watts linkage.

Longer, lower and now lighter than the 250 GT SWB, the new model was introduced in February 1962 and largely entrusted to privateers, and the marque distributors. 

Meanwhile, regulation changes at the Circuit de la Sarthe in 1962 stipulated a new larger-displacement 4.0l class for cars that might translate into road cars. This is how chassis number 3765 became the most singular example of the pedigree, featuring a 4.0l V12 tuned with three carburettors and special camshafts.

Official records by Rosso Corsa Consulting show the car was tested in May 1962, about the ninth car built by date, and sequentially the 14th of 34 examples built with Tipo 1962 coachwork.

Finished in Rosso Cina paint, the uprated GTO debuted at the Nürburgring 1,000 Km in 1962. Works drivers Mike Parkes and Willy Mairesse piloted the car to a class win second overall finish. Chassis 3765 remains the only factory GTO Tipo 1962 example to have been campaigned by Scuderia Ferrari.

For the 1962 24 Hours of Le Mans Ferrari removed the three-carburetor engine and fitted a second engine fed by six Weber carburettors, and now with an estimated 390hp (290kW.) Some minor alterations were undertaken on the nose, partially as a result of the reconfigured engine, and in part to alleviate some minor corner damage incurred at the Nürburgring.

Exclusive driving lamps were added to the sides of the fenders, and the hood bulge was reshaped, in all likelihood to accommodate the new six-carburetor intake set-up.

SEFAC Ferrari entered four total cars at the 1962 24 Hours of Le Mans, including two in the 4.0l class, a 330 TRI LM (which eventually won the race) and the 4.0l GTO, chassis number 3765 as well as a pair of Dino race cars.

With the conclusion of the 1962 season’s 4.0l class-eligible events, the car was refurbished for client sales. In November 1962 the Ferrari was purchased by Pietro Ferraro, and the GTO underwent further factory modifications in May 1963 as documented, which remain fitted to this day.

In July 1964 the GTO competed in the Trieste-Opicina hill climb, finishing fifth in class and not long after it was sold to Ferdinando Latteri, who entered it in the 1965 Targa Florio piloted by Ignazio Capuano and Latteri.

It was raced again in March 1966 before being traded back to Maranello, and within a few months it was sold to California resident Mario Tosi who specified a refinish of the coachwork in giallo before the car was exported to the US.

A year later 3765 was purchased by Jack Reuter of St. Louis, Missouri, participating in American marque gatherings. By August 1974 the Ferrari was sold to Fred Leydorf of Michigan, who exhibited the GTO at classic car meetings before selling it to the current owner from Ohio who treated it to a full restoration, attending and winning awards at many exhibitions including the 2001 Amelia Island Concours d’Elegance.

This 250 GTO is documented with factory records, including two sets of build sheets (one each for the preparation for the Nürburgring and Le Mans).

Only 36 Ferrari 250 GTO models were ever produced between 1962 and 1964, and all traded at eye-watering prices. The current record holder of the most expensive Ferrari 250 GTO is $70m (R1.3bn) — the second highest price yet achieved by a second-hand car — paid in June 2018 by American magnate David MacNeil.

Now you have a chance to join MacNeil and the likes of Ralph Lauren, jewellery heir Gianni Bulgari, and Pink Floyd drummer Nick Mason who parted with £28m (R648.7m) for his GTO, as notable Ferrari 250 GTO owners.