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Ferrari 250 GTO to be auctioned in Monterey

Ferrari 250 GTO to be auctioned in Monterey Classic and Performance Car

RM Sotheby’s will offer a 1962 Ferrari 250 GTO in Monterey, where it could become the most valuable car sold at auction if it reaches the estimated $45million-plus sale price.

Some very exciting machinery has already been announced for this year’s Monterey auctions, but RM Sotheby’s has just announced its headline attraction: a 1962 Ferrari 250 GTO. The Canadian auction house has estimated that the GTO could sell for more than $45m, which would make it the most expensive car ever sold at auction.
The third of 36 GTOs produced, chassis 3413 today features the later-style bodywork, but started life as a Series 1 GTO. While under factory ownership, it was driven by Phil Hill as a test car on the 1962 Targa Florio, before being sold.
Its first owner, Italian gentleman racer Edoardo Lualdi-Gabardi, competed extensively throughout 1962. Winning nine out of ten races secured him the Italian National GT championship.
After a single hillclimb in 1963, chassis 3413 was then sold on to Gianni Bulgari, who went on to win his class in the 1963 Targa Florio, finishing fourth in total. At the end of ‘63 it was sold again, this time to Corrado Ferlaino. The Series 2 bodywork was fitted by Scaglietti in early 1964, before it was once again entered into the Targa Florio. Ferlaino won his class, finishing fifth overall.

During this time it never failed to finish a race and was never crashed, and today still retains its original engine, gearbox, and rear axle. It’s a well known example, and one that passed through a number of high-profile Ferrari collections in the UK before being exported to the USA by the current owner, Dr. Greg Whitten, in 2000. Rather than being locked away in a garage, chassis 3413 has taken part in various events over the previous two decades, including four of the 250 GTO tours. 
Currently, a Ferrari 250 GTO sits at the top of the most expensive cars sold at auction list at $38,115,000, achieved at a Bonhams auction in 2014. Four years later the market has moved considerably, and only last month it was reported that a privately-owned GTO was sold for a rumoured $70m. 
Shelby Myers, Car Specialist, RM Sotheby’s commented: ‘This marks just the third time that a GTO has been offered for public sale in the new millennium. I can think of no better place than our flagship Monterey event, an auction that has borne witness to the record-smashing sale of some of the most important cars in history, for the presentation of such an exceptional example of Ferrari’s most successful racer and the world’s most sought-after collector car, full stop. The fact that the GTO exists as it did in period, along with Dr. Whitten’s long-term, enthusiastic ownership, only adds to the car’s impeccable pedigree.’
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