Ferrari GTO Sold For Record $70 Million

A 1963 Ferrari 250 GTO has reportedly been sold by a German collector to WeatherTech floor mats founder and auto racing maven David MacNeil for $70 million, believed to be the highest price ever paid for a motor vehicle.
CNBC reported June 1 that collectible Ferrari expert Marcel Massini confirmed the private transaction, which surpasses the previous high sale for a car, $52 million paid in 2013 for another ’63 GTO. The auction record for a GTO was set in 2014 at Bonhams’ Quail Lodge sale, with a 1963 GTO sold at $38 million.
Photo: SWNS

 

Historic race cars with provenance continue to rule at the top end of the collector car market. With just 39 GTOs built, their  provenance, dual-purpose (street and track) performance and looks cement the Series I and Series II models in the pantheon of desirability.
Campaigned originally by Belgian teams Ecurie Francorchamps and Equipe National Belge, the car purchased by MacNeil (chassis 4153 GT) won the 1964 Tour de France motor race (Lucien Bianchi/Georges Berger) and finished 4th at Le Mans in 1963. Massini was quoted that the silver and yellow racer was never crashed, despite a winning record. UK Ferrari restorer DK Engineering’s James Cottingham was quoted stating it’s “one of the best GTOs in existence in terms of history and originality.”
MacNeil is no newbie to Ferraris as his company runs a Ferrari in the IMSA WeatherTech series, and he owns three other vintage 250GTs, including a Boano, a SWB and a Russo. WeatherTech also recently inked the naming rights to the Laguna Seca circuit in Monterey, CA.
Not all GTOs are in billionaires’ garages, and VM is pleased to point out that there are still a number being flogged at select vintage races around the U.S. by their owners (or wives, in some instances) and some in longterm ownership (decades, actually) were aquired as used-up race cars for the then-kingly sums of less than $10,000. When new, sticker was around $18,000.
CNBC quoted Massini as predicting GTO prices will keep escalating, as the number of billionaire Ferrari collectors is growing, while the number of quality GTOs remains static. “I have no doubt … we will see a GTO sell for $100 million in the next two to three years.”