1962 Ferrari 250 GTO. Photos courtesy Tallacrest, unless otherwise noted.
Including the Series I, Series II and larger-engine 330 GTO variants, Ferrari only assembled 39 examples of its storied 250 GTO from 1962 – ’64, making them among the most coveted of postwar sports and racing cars. The first 250 GTO to be driven in competition, chassis 3387GT, has been owned by Bernard Carl since 1997, but it’s recently been advertised for sale by specialist dealer Talacrest. The asking price? A reported 45 million British pounds ($56.4 million), which, if achieved, would make this Ferrari the world’s most expensive automobile.
Powered by a 3.0-liter Tipo 168 V-12 rated at 300 horsepower, the 250 GTO was designed to run against competitors like the Jaguar E-type and the Shelby Cobra in GT and endurance racing. Instead of forging new ground, the 250 made do with proven components, including a frame based upon the 250 GT SWB and an engine that had proven reliable in the 250 Testa Rossa. As for its graceful body, built by Scaglietti, Giotto Bizzarrini gets credit for the early design, with Mauro Forghieri stepping in after Enzo Ferrari’s 1962 housecleaning of his rebellious staff.
While all Ferrari GTOs are significant to collectors, chassis 3387GT stands out for several reasons. It was the second 250 GTO constructed, and before being shipped to Luigi Chinetti in New York, it was used for development testing by Ferrari at Monza in early March 1962. On March 24, 1962, the Ferrari was entered into the 12 Hours of Sebring, driven by Phil Hill and Olivier Gendebien. There it became both the first 250 GTO raced and the first 250 GTO to deliver a class win, finishing second overall in its competition debut.
Following its successful premiere at Sebring, the Ferrari was returned to Maranello to be prepared for Le Mans. Chinetti sold the car to Bob Grossman of Nyack, New York, who teamed with NASCAR great Glenn “Fireball” Roberts to deliver a second-in-class finish (sixth overall) for the North American Racing Team at the 1962 running of the 24 Hours of Le Mans.
Grossman campaigned 3387GT for the remainder of the 1962 season with reasonable success, but following the 1963 12 Hours of Sebring, the car was sold to Geraldi and Mike Gammino III. Mike campaigned the car throughout 1963 and into 1964, and the car’s only notable damage occurred during practice for the February 1964 Daytona Continental race. A spin put Mike into the wall, breaking the windshield and cracking the gasoline tank, and prompting shipment of the car to Carozzeria Scaglietti in Italy for repairs.
At Watkins Glen in 1963. The car was repainted in this livery by Bob Grossman in 1962. Photo by Mike Gammino, courtesy Marcel Massini.
Four months later, the Ferrari was back on the track, with Mike driving for the remainder of the 1964 season. Though 3387GT was idle for much of the 1965 season, a familiar name, Bob Grossman, would reprise his role as driver for the Bahamas Speed week races in November. Its racing career now concluded, the Ferrari managed to reward its various professional and gentlemen drivers with a total of 17 class podium finishes in 27 races.
Circa 1978; the car was repainted red in 1975 by then-owner Stephen Griswold. Photo courtesy Marcel Massini
By this time, the 250 GTO was no longer competitive as a racing car, but not yet particularly collectible. Purchased by Bernard Stayman for $2,500 in 1968, the car passed through five more owners (including Kirk F. White) before landing with Bernard Carl in 1997. Under his stewardship, the car was repainted in the correct N.A.R.T. blue metallic with white stripe livery it originally wore, and was a routine participant at tours, vintage races and concours d’elegance events around the world. Until recently, 3387GT had been displayed at the Simeone Museum in Philadelphia, where it regularly participated in Demonstration Day events to the delight of attendees.
Chassis 3387GT getting a bit of exercise during a Simeone Museum Demo Day. Photo courtesy the Simeone Automotive Museum.
Ferrari 250 GTOs rarely change hands, and most do so in discreet private transactions. In 2013, Bloomberg reported that chassis 5111GT sold in a private sale to an unnamed buyer for a reported $52 million, making it (if true), the most expensive car ever sold. In 2014, Bonhams sold another 250 GTO at its Quail Lodge auction for $38.115 million, making it the most expensive car ever sold at auction. Should 3387GT achieve its projected selling price of £45 million, it will likely set the bar for all future 250 GTO transactions.
At Pebble Beach in 2011. Photo courtesy Marcel Massini.
That is, of course, if the buyer wants the publicity. Talacrest boasts that it’s been directly involved in the sale of eight 250 GTOs to date (better than 20-percent of the entire GTO population), but few such results are publicized. We wouldn’t be surprised the see the Ferrari quietly disappear from the broker’s listings, only to magically reappear at a Ferrari event or significant concours in the coming years.
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