The Monterey Auction this year will feature a 1962 Ferrari GTO once owned and raced by jewelry heir Gianni Bulgari. It is estimated to be worth between $45-$60 million. The car changed several times before being purchased by Greg Whitten (former Microsoft Chief Architect) in 2000 for $7 million.
The GTO was produced from 1962 to 1964. Only 36 were made.
It was the final iteration of the Ferrari 250 and was designed as a GT race car that could be also used as a road car. It competed with the likes Shelby Cobra, Jaguar E-Type, and Aston Martin DP214.
The letters “GTO” stand for “Gran Turismo Omologata” which translated into English means “Grand Touring Homologated.”
The number 250 represents the displacement in centimeters for each of the cylinders in the V12 engine. Total engine displacement is 2953 cc which is 3.0L (180.2 cu in). Power numbers: 296 HP @7500 rpm and 217 lb ft of torque at 5500 rpm.
Prices for the GTO have been rising. When new in 1962 the car cost $18,000 in the US.
In 1969 you could have purchased one for $5,400.
Fashion icon Ralph Lauren purchased his 250 GTO in 1985 for an undisclosed price.
In May 2012 race legend Stirling Moss’s 250 was sold for $35 million to Craig McCaw, the founder of his namesake company.
In October 2013 a private transaction was rumored to be $52 million.
In August 2014 Carlos Monteverde (son of billionaire Lily Safra) purchased a 250 GTO for $38.1
In May 2018 Number 4152GT sold to WeatherTech founder and CEO David MacNeil for a record $70 million.
Watch the 55th Anniversary of the Ferrari 250 GTO
Ferrari 250 Petrolicious Video
Watch Pink Floyd’s Nick Mason’s Ferrari 250 GTO at the Goodwood Festival