Why the 1962 Ferrari 250 GTO is an ‘investment of passion’ that is coveted by the ultra-wealthy
Metallic red model, described as ‘Holy Grail of classic cars’, has a racing pedigree, having finished sixth overall at Le Mans and first in class at Sebring endurance race
WHAT: 1962 Ferrari 250 GTO
HOW MUCH: Estimated US$56 million
WHY: According to Knight Frank’s 2019 Wealth Report, investments of passion are among the most coveted by the ultrawealthy. Rare single malt whiskies like The Macallan 1926, artworks like David Hockney’s Portrait of an Artist ( Pool with Two Figures), and the 1971 Rolex Daytona watch, known as The Unicorn, all saw massive growth in value in the decade to 2018.
The value of the Rolex watch grew 73 per cent while that of The Macallan grew a whopping 582 per cent. Go ahead and add the 1962 Ferrari 250 GTO to that list – one of the Italian carmaker’s legendary creations.
Ferrari is no stranger to elite cars, having customised many for cinematic royalty and rock stars, and winning more Formula One races and producing more championship drivers than any team in history.
A Ferrari is a prestigious symbol of wealth and luxury, and the GTO is among its most revered models. Recognisable for its elongated (and often imitated) bonnet and distinctly aerodynamic, curvilinear silhouette, fewer than 40 were produced from 1962 to 1964.
Said to be only the second car to come off Ferrari’s assembly line – one of just 39 built and the first to compete in the annual 12 Hours of Sebring endurance race in Florida – it will be one of the most expensive cars ever sold.