News

Ferrari GTO sells at $52 Million

Discussion in 'Vintage Ferrari Market' started by KenGoldman, Oct 2, 2013.

  1. KenGoldman

    KenGoldman Formula Junior
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    May 25, 2009
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    Bloomberg reports that S/N 5111 has been sold for a record price of $52 Million.

    Perhaps someone has more info on this??

    Ken Goldman
     
  2. tx246

    tx246 F1 Veteran
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    Nov 4, 2003
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    This has been much speculated in another thread.

    Very interesting, if true.....

    I suspect, based on the the publicly posted "info", it is true, but there is even more that has happened since this transaction.....
     
  3. readplays

    readplays Formula 3

    Aug 22, 2008
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    Here's the Bloomberg link
    Ferrari GTO Becomes Most Expensive Car at $52 Million - Bloomberg
    For whatever reason, they have the car as being sold by Paul Pappalardo. Barchetta has it leaving his ownership in 2008.
    It's been mentioned on the boards here as going to Spain and then perhaps to another owner(?) before this current reported sale.
    Whatever the case may be, 5111 GT, the winner of the 1963 Tour de France and 2nd place 1964 Tour de France, is one heck of a nice car. :)
     
  4. Timmmmmmmmmmy

    Timmmmmmmmmmy Formula 3
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    #4 Timmmmmmmmmmy, Oct 2, 2013
    Last edited: Oct 2, 2013
    Yep, new price level reached this year, 250 GTO - $52 mil, NART Spider - 27.5 mil, Mercedes GP car - $30 mil. and I wonder what will come out of the woodwork now ? Surely other GTO owners must be thinking is this the top of the market, I am getting old, kids dont want the cars, lets sell............
     
  5. TOOLFAN

    TOOLFAN F1 Rookie
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    Mar 23, 2005
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    52.5MUSD when all was said and done, and yes it was 5111GT. More than one F chatter was offered the car before it sold to the current owner in the UK.
     
  6. Drive550PFB

    Drive550PFB Two Time F1 World Champ
    Rossa Subscribed

    Time to sell, everyone. Sell everything. We have reached the top.

    Get in cash and wait 3 years. You will buy everything back and have 30% left over.
     
  7. retired

    retired Formula Junior

    Jul 30, 2004
    282
    Article is not true
     
  8. velocetwo

    velocetwo F1 World Champ

    Dec 11, 2006
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    correct or close to correct.
     
  9. TKO

    TKO Formula Junior

    Oct 22, 2004
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    Na, just keep everything unless your looking for/need cash. Plus you never know what you buy back, could need 30% of its value in sorting it out.
     
  10. Bobj

    Bobj Formula Junior

    Aug 12, 2013
    455
    UK
    Agreed, that's what I was thinking. 30% is not a lot to make for 3 years of sitting around with no stuff!!!

    Even without the added hassle of selling it all and buying it back again!

    I'll just hang on to my stuff thanks :)
     
  11. 275GTBSaran

    275GTBSaran Formula Junior

    Mar 5, 2012
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    Le Monde Edmond
    Marcel- can you confirm this sale @$52m? Only then will I believe it. But nice and consistent price if true. Its one rare care that deserves this price and more.
     
  12. miurasv

    miurasv F1 Veteran

    Nov 19, 2008
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    #12 miurasv, Oct 3, 2013
    Last edited: Oct 3, 2013
    I too will only believe it if Marcel or somebody who is highly regarded within the Ferrari community confirms it.
     
  13. Vincent Vangool

    Vincent Vangool Formula 3

    Oct 6, 2007
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    Paintings in the hundreds of millions.

    Rolling sculpture that needs gas, 52.5 million.

    Makes sense.

    I wonder if someday it'll be the other way around.
     
  14. PAUL500

    PAUL500 Formula 3

    Jun 23, 2013
    2,130
    I am not so sure, one off painting are treasured by the "look what I own brigade". If there were 36 sunflowers etc then maybe the GTO would be up there.

    Unique is where its at in any collector market. Production cars however small the number will always trail as a result, but they will parallel the art market to some degree.
     
  15. Daytonafan

    Daytonafan F1 Rookie

    Oct 18, 2003
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    That won't help the UK trade deficit :)
     
  16. furoni

    furoni F1 Veteran

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    That´s crazy money for a car!!! O well, i guess if you have more than you´ll ever be able to spend it would make some sense!!!
     
  17. 275GTBSaran

    275GTBSaran Formula Junior

    Mar 5, 2012
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    The GTO is not a car. Please don't insult it. It is a piece of history ;)
     
  18. furoni

    furoni F1 Veteran

    Jun 6, 2011
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    So very true Edmond, it really is, but still..it´s a lot of money!!!
     
  19. sindo308qv

    sindo308qv F1 Rookie

    Nov 1, 2003
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    “It’s a cult car,” the London-based Ferrari dealer Joe Macari said in an interview. “If you’re a billionaire, you feel you have to have one. I don’t understand the appeal of them. They’re not very beautiful and they never won Le Mans. I’d rather have a Testa Rossa.”

    I can't believe that quote, "they're not very beautiful"? Wow. Even if you're not into cars, you can see the beauty.
     
  20. 375+

    375+ F1 Veteran
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    Dec 28, 2005
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    An absolute idiot.
     
  21. Ferrari 360 CS

    Ferrari 360 CS F1 Veteran
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    Seems like a very strange thing to say.
     
  22. miurasv

    miurasv F1 Veteran

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    #22 miurasv, Oct 3, 2013
    Last edited: Oct 3, 2013
    Not true. They won the GT 3.0 class in 1962 with 3705GT 2nd OA; 1963 with 4293GT 2nd OA and 1964 with 5575GT 5th OA.
     
  23. greyboxer

    greyboxer F1 World Champ

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    This may not be news - see post #173 in the for sale thread
     
  24. Athanase

    Athanase Formula Junior

    Jan 27, 2007
    263
    It is a significant sculpture, money is just paper.
     
  25. P.Singhof

    P.Singhof F1 Rookie

    Apr 19, 2006
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    I am always pleasant surprised by the tolerance here in the forum if someones dares to say anything against one of the "F-cars" (what a stupid word).
    If he thinks that a GTO is not very beautiful he just has a different taste than you, that does not make him necessarily an idiot, one might not say the same about the reply!
     

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