The Ferrari 250 GTO has certainly built a reputation for achieving record sale prices and it has done it once more. This would appear to be the classic car that you wished you had owned from new.
Between 1962 and 1964 only 36 of these vintage cars were built and originally cost £6,000. One has just been sold for a staggering $52 million (£32 million) making it the most expensive car to be sold in the world.
This car has a V12 engine 3.0-litre engine and its power will take it from 0 to 60mph in only 6.1 seconds reaching a top speed of 174mph.
The Ferrari 250 GTO is a well-travelled racing car having taken part in numerous events in the 1960s. What is also very interesting is that this car’s value has increased by 49% in the last twelve months. It was only last year that one owned by Sir Stirling Moss, the famous racing driver, was sold for $35 million. In fact, guess what was the most expensive car to be sold in this country – yes, a Ferrari 250 GT0. It fetched £20.2 million in February 2012.
Who would have thought back in the 1960s, when these cars were built, that their value would have increased so much in recent years. They have certainly been a terrific investment for their owners. Not wishing to raise any concerns but what is the possibility of these sorts of prices being maintained or even rising in the future? Is it possible that prices for this classic car could peak and the price start to drop?
As with most things in life there is no guarantee that prices will not fall. Let’s wait and see. Can you imagine what the classic car insurance premium would be on the above car?
What are your thoughts on future prices for classic cars in both the UK and overseas?