1962 Ferrari 250 GTO Expected to Fetch Over $45M at Auction

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RM Sotheby’s Monterey is handling the auction of the classic auto, which is good news for them; the 1962 GTO is expected to bring in at least $45 million. The example is believed to be one of only 250 original models built between ’62 and ’64. Considering a 1963 model recently sold for $70 million, it’s safe to say these vehicles are highly sought-after investment opportunities.

Boasting chassis number 3413GT, the acutely engineered vehicle first served as racer Phil Hill’s works car for the 1962 Targa Florio. Since then, the vehicle has changed hands several times, and been owned by a series of high-profile figures. It has won several races.

The vehicle was never in a crash, but, in 1964, it was made over by Carrozzeria Scaglietti with a new Series II specification body. Since then, the car has been immaculately cared for and is in close to original condition. It last traded hands for $7 million back in 2000.

The August auction very well might be one of many more to come; all of the original 250 GTO vehicles are believed to still be intact.

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