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Ferrari GTO sells at $52 Million

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

  1. miurasv

    miurasv F1 Veteran

    Nov 19, 2008
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    Steven Robertson
    Joe Macari is no idiot.
     
  2. 180 Out

    180 Out Formula Junior

    Jan 4, 2012
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    Bill Henley
    I wonder how frank he is with his opinions on the specious needs of billionaires when one is sitting across the table from him.
     
  3. miurasv

    miurasv F1 Veteran

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    Steven Robertson
    #28 miurasv, Oct 3, 2013
    Last edited: Oct 3, 2013
    At least he will know that he is sincere, and respect his opinion. I know quite a few knowledgeable Ferrari lovers who do not think the GTO is beautiful. In my opinion the 250 GTO reverence has a lot more to do with its prowess as a whole, and not just its looks.
     
  4. 275GTBSaran

    275GTBSaran Formula Junior

    Mar 5, 2012
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    Le Monde Edmond
    Much agreed Steve. The 250 GTO is not really the car that comes to mind when I think of beauty. 250 SWB, 250 Cal spider, 250 S1 Cab, 250 Lusso is what I think of when I think beautiful.

    The 250 GTO is very masculine and powerful which many people I think are attracted to. Its beautiful in a masculine way for sure. Taste- thank goodness is very different for everyone.
     
  5. Edward 96GTS

    Edward 96GTS F1 Rookie
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    the 250gto has perfect lines from every angle. definitely masculine, muscular. same can be said about the daytona.
    ed
     
  6. 275GTBSaran

    275GTBSaran Formula Junior

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    Le Monde Edmond
    Much agreed!
     
  7. Enigma Racing

    Enigma Racing Formula 3
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    Kim
    Sold four weeks ago
     
  8. Vincent Vangool

    Vincent Vangool Formula 3

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    Vincent Vangool
    Yep. Who knows. I'm biased but it seems crazy to me that a painting costs more.

    Frankly it just seems easier to paint a painting then hand build a car.

    But I know nothing of the art world and why stuff is valued there.

    But to me these cars are the greatest sculptures ever made. Plus they run at speed.

    If I was an art collector this is what I'd collect. I'd rather have casted and handbeaten metal then a piece of canvas but that's just me.

    I would have to think that someday Ferrari and those that contributed: Bizzarrini, Scaglietti, Colombo and others that contributed to various cars will be seen as artists alongside the great painters and sculptures but that may just be a dream.

    Anyways, To me, if someone can pay 50 million for a stripe painted on a canvas it doesn't seem to insane for a GTO to sell for similar. Frankly I think it should sell for much more.
     
  9. amc

    amc Karting

    Apr 9, 2009
    236
    old school
    GTO '64 has the perfect lines.
     
  10. ginge82

    ginge82 Formula 3

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    Art Corvelay
    #35 ginge82, Oct 3, 2013
    Last edited: Oct 3, 2013
    Christies has a Warhol coke bottle coming up for auction soon and its rumoured for a $60m sale. It is one of two, the other coke bottle painting owned by S.Cohen.

    Between an overhyped Warhol, parking $50m+ in a bank or having a $52m GTO in my garage, I know where my money would go.

    It is only a matter of time before we see a $100m GTO sale.
     
  11. Vincent Vangool

    Vincent Vangool Formula 3

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    I would have to think at some point these cars will move past just the world of the car collector to the world of the art collector.
     
  12. BIGHORN

    BIGHORN In Memoriam

    Sep 18, 2006
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    I think Retired's post is correct
     
  13. Marcel Massini

    Marcel Massini F1 World Champ
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    Mar 2, 2005
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    I agree.

    Marcel Massini
     
  14. merstheman

    merstheman F1 Rookie

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    In my opinion there is too much of a difference between the art market and the classic car market to warrant so many comparisons. Seems like people focus only on the obvious similarity, which are the exorbitant prices paid for the top examples in both cases, and in some instances the shock value of the public release of some of these transactions.

    To me they are different things altogether. And quite honestly the Art market from an investment point of view is a lot harder to "navigate" than the classic car market. Unless you are talking about the rare instance where they overlap, for instance the sale of the BMW M1 painted by Frank Stella, a few years ago. Or if the Warhol M1 ever came up for sale.
     
  15. NürScud

    NürScud F1 Veteran

    Nov 3, 2012
    6,712
    +1

    What I see is that prices begin to rise and i can assume that in a couple of years GTOs, 250 LM's and some more specials will be sold at really outrageous numbers.

    What can i say!
     
  16. 335s

    335s Formula Junior

    Jan 17, 2007
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    T. Monma
    It's not your money....I;m vexed...
    People of this economic status in life, certainly live differnt than the "rest of us"...
    When the "hired help" are all millionaires, then the perspective of this venue/strata becomes somewhat more provocative, yet succinct with respect to all the BS-ing and rumor mongering...as in not much tolerance....and suspicion of all comers and queries...

    with regards to perspective, this car was shopped at us months ago in the mid to high forties, with 3 back ups in front-so goes the storyline-reaching across the fifty threshold...
    congratulations, yuou are a collector!

    Within 90 days, the same issue was re-shopped at a surchargedf-purportedly from the new owner/consortium, for a figure approaching 60 large...

    Since we are not remotely interested in one of these, at this altitude-despite being one of the three top tier examples(3705, 4293-your opinions mean zero, THE MARKET speaks as to this reality!)...I again query...who really cares, and why?
     
  17. TTR

    TTR Formula 3
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    Timo
    + 1
     
  18. ARMBARBI48

    ARMBARBI48 Karting

    Jan 29, 2013
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    Armido Barbieri
    CONFIRM ! ! ! It is a "mechanic ART"
     
  19. JazzyO

    JazzyO F1 World Champ

    Jan 14, 2007
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    OK, so the most significant post in this thread IMHO is the last one quoted here.

    But I would really like to know a little more. What is not true, regarding the article: that the car sold at all, or that it sold for a different amount?


    Onno
     
  20. Timmmmmmmmmmy

    Timmmmmmmmmmy Formula 3
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    If Toolfan said it sold for that amount then I would believe him, he has the contacts and the direct knowledge, could the debate be whether Papalardo sold it in '08 (Barchetta's claim) or today (Bloomberg's claim). Just saying
     
  21. Wolfgang5150

    Wolfgang5150 F1 Rookie

    Oct 31, 2003
    4,702
    Honestly I agree with him; it seems like it gets more attention for its eye popping prices, than it's looks. (I'm sure the 39 owners aren't losing sleep over what people think of its looks though). But the TestaRossa & 250 California are much more stylish to me.....

    This thread is hysterical; people speaking in code whether it was sold or not.....I guess that means people like me will have to believe what is reported by the press then!
    Kevin
     
  22. geno berns

    geno berns F1 Rookie
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    #47 geno berns, Oct 3, 2013
    Last edited: Oct 3, 2013
    If there were more billionaire car enthusiasts, the GTO would be trading for much more. The $52MM paid for this car is likely a drop in the ocean for the owner. Those that spend $100MM on a painting or purchase a GTO for $52MM to add to their $200MM existing car collection earn as much on a monthly basis. It's not a major purchase for those who can afford it, they spend/invest much more daily in what ever trade they are in. So it's all relative to what one can pull off in our too-short of lives. Let's hope the car gets exercised by the new owner who we all should be congratulating!

    Geno
     
  23. 96redLT4

    96redLT4 Formula Junior

    Feb 20, 2009
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    Jim
    Its so hilarious in these threads that no one wants to name the new owner, though everyone is so curious-maybe it will just disappear from the face of the earth now.
    J
     
  24. PAUL BABER

    PAUL BABER Formula 3

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    Paul Baber
    #49 PAUL BABER, Oct 4, 2013
    Last edited by a moderator: Sep 7, 2017
  25. Igor Ound

    Igor Ound F1 Veteran

    Sep 30, 2012
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    Igor Ound
    Would you drive it about?
     

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