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1962 Ferrari 330 LM / 250 GTO

RM Sotheby’s to auction Halo Ferrari, but at what price?

Photo © 2023 RM Sotheby’s

A legend is born

It’s quite possibly the world’s most coveted sports car from the golden era of endurance racing: the Ferrari 250 GTO. Produced in the 1960s, this exceptional automobile was born from the need for a racing car to compete in the FIA’s Group 3 Grand Touring Car category. The “GTO” in the name stands for “Gran Turismo Omologato” or “Grand Touring Homologated” in English. This nomenclature underscores the car’s purpose: to be a competitive force in official racing while also being street-legal (wink wink). Only 36 of these vehicles were ever produced between 1962 and 1964, making it one of the most sought-after classic cars in the world.

Photo © 2023 RM Sotheby’s

Designed by Scaglietti

Led by the accomplished Sergio Scaglietti, the design of the 250 GTO is a perfect blend of aesthetics and functionality. Its rounded lines and iconic front grille are not just for show but carefully designed for aerodynamic efficiency. Predictably, the iconic Italian racer uses a Colombo Tipo 125 V12 engine that had proven itself in earlier models like the pontoon fender Testa Rossa. Its 300 horsepower and lightweight construction enabled the car to reach speeds of over 170 mph while the world stood still in awe.

Photo © 2023 RM Sotheby’s

Racing Legacy

The Ferrari 250 GTO’s resume is nothing short of impressive. It clinched numerous victories in the early 1960s, including at world-renowned events such as the Tour de France and the Targa Florio. These wins helped solidify Ferrari’s reputation as a leader in motorsport.

Photo © 2023 RM Sotheby’s

Chassis details

  • The only factory-owned Series I GTO raced by the Scuderia Ferrari
  • Class win and 2nd overall finish at the 1962 Nürburgring 1,000 KM
  • Driven by Mike Parkes and Lorenzo Bandini for the Scuderia Ferrari at the 1962 24 Hours of Le Mans
  • 1965 Sicilian Hillclimb Championship runner-up
  • Formerly owned by a chairman of the Ferrari Club of America
  • Benefits from 38 years of meticulous care under current ownership
  • Winner of an FCA Platinum Award and the Coppa Bella Macchina at the Cavallino Classic
  • 2nd in the GTO class at the 2011 Pebble Beach Concours d’Elegance, among 23 total GTOs
  • Best of Show at the Amelia Island Concours d’Elegance
  • Blue Ribbon winner at the Meadow Brook Concours d’Elegance
  • Desirably documented with copies of factory build sheets, owner’s correspondence, period racing coverage, and magazine feature articles
  • Pre-auction estimate: Over $60M

Details of Sale

Selling in New York on 13 November 2023 during Sotheby’s marquee sales of Modern and Contemporary Art.