This is the car in question. The 1963 Ferrai 250 GTO. The most valuable and most expensive car in the world. In the eyes of many the 250 GTO is the greatest car Ferrai ever produced.
Certainly, it's the greatest road racer from the ultimate decade of road racing, and it is extremely rare. Just 36 were ever made. And because the aluminium body panels were hand beaten over pieces of, none of them were completely the same. It is without a doubt the MOST beautiful car of all time. It was built by Ferrai's most famous and talented metal worker. Sergio Scaglietti, who had a craftsman's hand and an artist's eye.
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The 3.0 litre V12 engines were different as well. They were supposed to produce 295 HP, some produced less than that, some more. But all these cars would do 158 MPH. At a time when the average road car's top speed was 71 MPH. It was powered by Ferrari's Tipo 168/62 Colombo V12 engine. Coupled with a 5-speed manuel transmission.
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Now let's talk about why it's so valuable.
The Ferrari 250 GTO is a homologated GT car which was produced by Ferrari from 1962 to 1964 for homologation into the FIA's Group 3 Grand Touring Car category.
In May 2012 the 1962 250 GTO made for Stirling Moss(famous F1 driver)became the world's most expensive car in history, sold on auction for $38 115 000. The "250" part of its name is for the displacement in cubic centimeters of each cylinder of the engine, whilst GTO stands for "Gran Turismo Omologato", Italian for "Grand Touring Homologated." When new, the GTO cost $18,000 in the United States, and buyers had to be personally approved by Enzo Ferrari and his dealer for North America, Luigi Chinetti.
In total, 39 250 GTOs were produced between 1962 and 1964. This includes 33 cars with 1962-63 bodywork (Series I), three cars with 1964 (Series II) bodywork similar to the Ferrari 250 LM and three "330 GTO" specials with a larger engine. Four of the older 1962-1963 (Series I) cars were upgraded in 1964 with an updated (Series II) body.
The 250 GTO was designed to race in GT racing, where its competitors would include the Shelby Cobra, Jaguar E-Type and Aston Martin DP214. The development of the 250 GTO was lead by chief engineer Giotto Bizzarrini. Even though Bizzarrini was usually regarded as the designer of the 250 GTO, he and other Ferrari engineers were fired in 1962 due to a disagreement with Enzo Ferrari. Further development of the 250 GTO was overseen by new engineer Mauro Forghieri, who worked with Scaglietti to continue development of the body.
And that is why it is so valuable. Now today, 2020, it's value is $70 000 000 and will definitely without a doubt, increase in value over the years.
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