Ferrari 250 GTO sells for $52 million

xXKingJoshXx

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xXKingJoshXx
A Ferrari 250 GTO has reportedly been sold for $52,000,000 - making it the most valuable car in the world.

Source.



That is just amazing... $52,000,000 - for a car.
 
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And here I am thinking that with those 52 million I could live the rest of my life extremely well AND own a dream vintage Ferrari (250 GTL). I'd probably run out of ideas of what to do with the cash :lol:
 

Beeblebrox237

Two heads, no brains...
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Maybe. Don't forget that the market could also fall out of the sky like it did in the late 1980s.
I hadn't even considered it, but when you think about it, it could be happening already. Back in the late 80s, supercars like the Jaguar XJ220 didn't sell well and people trying to make money lost huge amounts trying to resell them. None of today's batch of hypercars (P1, 918, F70) have fully sold yet, and Jaguar cancelled the CX-75 because there was no market. I don't want to be the guy who bought this GTO, I doubt he'll ever see the money back. I hope he thinks the car is worth it.
 

niky

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That's just a bit over the estimated value for good GTOs. Read an article in Octane a while back that collectors estimate fair price for good examples are between $30m-$50m
 
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GTP_Imari
It's very very nice, but 52 million nice?

Not really. I bet you could have a perfect to the micron, hand-crafted replica built for much, much less than that. Which means the rest of the money is going on the badge.

Some people have more money than they know what to do with, and giving some to me obviously never occurred to them. :D
 

TheCracker

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I hadn't even considered it, but when you think about it, it could be happening already. Back in the late 80s, supercars like the Jaguar XJ220 didn't sell well and people trying to make money lost huge amounts trying to resell them. None of today's batch of hypercars (P1, 918, F70) have fully sold yet, and Jaguar cancelled the CX-75 because there was no market. I don't want to be the guy who bought this GTO, I doubt he'll ever see the money back. I hope he thinks the car is worth it.

The bottom never falls out of the market for this sort of very rare car. They're like art, there will always enough extremely rich folk about willing to make an investment. A global financial crisis won't ever effect the values.
 
It's crazy to think that out there, people are handling millions as if it were pocket money and the vast majority of us here are working weekly to get ourselves by. Oh well!

It's a bit of a shame it probably won't get used very much considering its age and value. When you think about it, minus the historical value, someone has paid $52 million for an aged lump of metal and rubber.
 

TheCracker

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It's a bit of a shame it probably won't get used very much considering its age and value. When you think about it, minus the historical value, someone has paid $52 million for an aged lump of metal and rubber.

One of the reasons the 250 GTO continues to be one of the highest value classics, is because they do still get used, and not just driven up onto a concours podium, but driven and raced hard, exactly as a race car should be.

A Monet is just a $43m piece of aged canvas covered in oil paint.
 
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Not really. I bet you could have a perfect to the micron, hand-crafted replica built for much, much less than that. Which means the rest of the money is going on the badge. Some people have more money than they know what to do with, and giving some to me obviously never occurred to them. :D
at this point it's not what the car is but what the car has been throughout the years, its history, its authenticity, the uniqueness, how it's aged, everything.
 

Cano

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Maybe. Don't forget that the market could also fall out of the sky like it did in the late 1980s.

Yes, it has also ocurred to me too. Imagin the market bottoming out, and all the money to be lost. Still it's amazing as hell seeing the whacky prices these things fetch.
 

niky

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The market already fell out a after the 90's. That the prices have climbed back up means people want these cars.

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Having a perfect replica that drives better... or a high resolution photograph of "Starry Starry Night" is one thing. Having the real deal is another. Authenticity and history are hard to put a price on... but even if you pay a mint nowadays, it's a sure bet someone will want to pay even more down the road.
 

Danoff

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Eventually cars like this will be museum pieces. But don't let that fool you into thinking they'll never be driven again. I know a guy who bought a car from a museum and drove it to work.

One day the car was behind a velvet rope with a placard that probably said "no flash photography". The next day it was being driven down the road.
 

Stotty

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With the Global economy as it is at the moment, I guess a 250GTO is a better investment than something like property or the stock market, but I can't help thinking the bubble will burst at some stage.

Personally, I think a 250GT SWB is a nicer looking car.
 
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youngun_great
Isn't there only a handful left, so if its pristine, he'll get the cash back. Vacuum sealed garage, never driven......not a way to own this car.
 
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Isn't there only a handful left, so if its pristine, he'll get the cash back. Vacuum sealed garage, never driven......not a way to own this car.

If I recall correctly, Ferrari made 39 of them. So they've always been extremely rare.
 
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Ryanswannell
I'd rather just take an Aventador and then keep the other $51 1/2 million personally. How can a car ever be worth 52 million dollars?