$30m Ferrari crashed

[Mike Rotch]

Ferrari 250 GTO 'wrecked'.

Sucks to be rich and unlucky.

Edit: hope the injuries aren't serious 👍

 

[G.T.Ace]

Well, people were hurt, that's more important than the car...
It's a pity of course, but at least the cars were still driven and I have a huge respect for everyone involved in that 250 GTO world tour.

 

[Robin]

I don't see how these cars continue to be worth so much money if they have been crashed a few times and 'restored'... literally half of the car by now must be new components and panels so what's the point? Eventually it will be a replica!

 

[RocZX]

I don't see how these cars continue to be worth so much money if they have been crashed a few times and 'restored'... literally half of the car by now must be new components and panels so what's the point? Eventually it will be a replica!

This one was rebodied twice and in an accident once.Ferrari 250 GTO #3445GT

I don't see how all 250GTO would be worth over $30 million cause one sold for that much, they all have different history.

 

[mattythedog]

Ouch! I hope all involved are ok, shame about the car too, but as was said its better that it's actually being driven and potentially damaged than just sat gathering dust.

 

[TheCracker]

I don't see how all 250GTO would be worth over $30 million cause one sold for that much, they all have different history.

There are many more people in the world who want to own a 250 GTO and can afford to do so, then there are actual cars - this keeps the value high.

If one sells for £30m, the next one is bound to go for more. A majority of us live in increasingly difficult financial times, yet the very wealthy continue to stay very wealthy and like to own assets that will continue to increase in value. Happily most 250 GTO owners are willing to regularly use these 'assets' in the manner they were originally designed for.

 

[exigeracer]

I don't see how these cars continue to be worth so much money if they have been crashed a few times and 'restored'... literally half of the car by now must be new components and panels so what's the point? Eventually it will be a replica!

These cars are often treated as racing cars more than collection items. Incidents involved in racing and enjoying them today are just another point in their documented timeline, and as long as the repairs are executed by a respected restorer, the value often isn't affected by racing incidents. Consumables and repairs come with racing, and these are racing cars. Just another notch in the heritage bedpost. Perfectly restored concours cars sit adjacent to survivor examples at events with the same respect.

 

[Rue]

These cars are often treated as racing cars more than collection items. Incidents involved in racing and enjoying them today are just another point in their documented timeline, and as long as the repairs are executed by a respected restorer, the value often isn't affected by racing incidents. Consumables and repairs come with racing, and these are racing cars. Just another notch in the heritage bedpost. Perfectly restored concours cars sit adjacent to survivor examples at events with the same respect.

Perfectly said! I thought I got a distant snap of it a few days ago at Le Mans, but it seems it wasn't in the parade which is weird because I'm sure I saw it. The US$35M one is the light green one you can see...


Ferrari GTO Parade @ Le Mans CLassic '12 by R-W-P (Rupert in Hong Kong), on Flickr

 

[sumbrownkid]

These cars are often treated as racing cars more than collection items. Incidents involved in racing and enjoying them today are just another point in their documented timeline, and as long as the repairs are executed by a respected restorer, the value often isn't affected by racing incidents. Consumables and repairs come with racing, and these are racing cars. Just another notch in the heritage bedpost. Perfectly restored concours cars sit adjacent to survivor examples at events with the same respect.

Racing cars should be raced anyway, not stored in a garage for years.

Better to go out in flames of glory than to waste away.

 

[Beeblebrox237]

Ouch! I hope all involved are ok, shame about the car too, but as was said its better that it's actually being driven and potentially damaged than just sat gathering dust.

This. It's sad to see old cars sit and not be driven. I applaud Mr. Cox on his bravery and wish him, his wife, and the other two people taken to hospital the best in their recovery.

 

[Slash]

No....



Oddly enought this upset me even more.

 

[JCE]

^ That smells of a teenage boy who's daddy bought him this car that's too much vehicle and has a another teenager in the passenger seat--possibly a female. The words: "watch this" were most likely uttered before the accident.

 

[boiltheocean]

These cars are often treated as racing cars more than collection items. Incidents involved in racing and enjoying them today are just another point in their documented timeline, and as long as the repairs are executed by a respected restorer, the value often isn't affected by racing incidents. Consumables and repairs come with racing, and these are racing cars. Just another notch in the heritage bedpost. Perfectly restored concours cars sit adjacent to survivor examples at events with the same respect.

A little question for everyone really but does it hurt to see a classic racer such as the 250GTO restored to original factory condition when purchased by a new owner? I remember reading a short story about David Pipers Apple Green 250 GTO, widely believed to be one the fastest GTOs around after all of Pipers modifications. I believe near the end of it's life with him it looked something like this and had a bigger motor, all sorts of changes to the rear and most obviously a chopped roof.

When sold however the new owner had all of those things reversed and the car was put back to the same condition it left the factory. To me, that seems wrong and rather a sad end to such a great piece of motorsport history.

 

[exigeracer]

Perfectly said! I thought I got a distant snap of it a few days ago at Le Mans, but it seems it wasn't in the parade which is weird because I'm sure I saw it. The US$35M one is the light green one you can see...

Amazing shot!

Here's a great video of the true golden era of auto racing. Many millions of dollars involved in wheel-to-wheel racing is certainly thrilling:



And a photo of mine from 5+ years ago at a Ferrari Corse Clienti event:

 

[McLaren]

I don't see how these cars continue to be worth so much money if they have been crashed a few times and 'restored'... literally half of the car by now must be new components and panels so what's the point? Eventually it will be a replica!

No 250 GTO is exactly alike to begin with, so anything like the panels isn't going to matter because chances are, those sort of parts aren't going to be ones you can just re-manufacturer from a mold & replace. They have to be crafted & made from scratch for whatever particular GTO needs the restoration.

Other components are more than likely going to be upgraded over time regardless of whether or not the car is actually in need of repair. Parts are going to wear out & it's not a bad thought to replace them with something safer.

Factor in that the majority of GTO repairs/restorations go through Ferrari themselves, and it becoming a "replica" no longer holds water. As long as the manufacturer (esp. Ferrari out of any other make) is doing the restorations, the car will retain its value because it's still using genuine Ferrari OEM parts.

 

[Nicksfix]

Sad story about the car, but I'm sure it will get restored back ..... again.

Cars like these should be driven and enjoyed by their owner. What's the sense in owning a car like this if your not going to take it out, rough it up a bit (organized racing event) and enjoy the heritage that these cars hold.

Driving it is better than being a trailer queen or as others have said, sitting in a garage somewhere collecting dust.

 

[niky]

When sold however the new owner had all of those things reversed and the car was put back to the same condition it left the factory. To me, that seems wrong and rather a sad end to such a great piece of motorsport history.

A racing car is a living, breathing thing... ever changing, ever evolving. The fact that certain modifications are added or removed doesn't sadden me... there are those who buy classic racers with everything plus the kitchen sink on them and remove most of those custom-rigged modifications to meet the needs of a particular race class... or remove them simply to make the car better to drive on the road... but if the modifications are removed simply to restore it to "factory" condition so it can sit behind a pane of glass, then I'd be sad.

 

[drakelouis29]

it seems that the accident was hilarious. i hope the people in it were safe. i pray that no one's injured badly.