NEWS
Ferrari for your favourite billionaire
Bonhams auction of a Ferrari 250 GTO Berlinetta may change how the super rich indulge in their favourite supercarsBonhams' Auction Lot Number 3 on August 14 is a well-travelled red Ferrari 250 GTO Berlinetta with matching 3.0-litre V12 engine and chassis. One of ten Ferraris being sold from the Maranello Rosso Collection during the Monterey, California historic car weekend, Bonham's has taken a risk, although slight, by listing it at no reserve.
It will sell! The question is: at what price?
The 10 Ferraris collectively may exceed $80million at hammer fall, but it is this surviving 250 GTO Berlinetta with full-blood competition history and 47 year preservation by its current owner that make it incredibly unique and valuable.
Bonhams claims 28 of the original production run of 35 GTOs remain in true 250 GTO specifications. "Here we offer the 17th of the 3-litre true 250 GTOs, first completed and campaigned right at the end of the 1962 International race season, and then as rebuilt fresh and ready for a new ownership, and a resumed career, in 1963," describes Bonhams.
The fact that this highly-valued Ferrari will be sold at no reserve is significant if not abnormal for a car believed to be worth beyond seven zeroes. Normally, it would be sold privately and quietly to a wealthy collector or investment group with the cash on hand or a small country to trade.
By offering the 250 GTO Berlinetta at no reserve, Bonhams will allow the strength of the open international market to determine its value. Experts say the serious bidders will jump in at around $40 million and push the hammer to beyond $55 million not including the 10 per cent buyer's premium, sales tax and import duties.
If so, it will set a new record.
Or, if Bonhams' fears play true, this beautiful Ferrari may sell for less at auction than it would through a private sale. People with a cool $50 million to spend on an automobile often choose to remain out of the spotlight for a lot of valued reasons.
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Written byTodd Hallenbeck
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Please see our Editorial Guidelines & Code of Ethics (including for more information about sponsored content and paid events). The information published on this website is of a general nature only and doesn’t consider your particular circumstances or needs.
If the price does not contain the notation that it is "Drive Away", the price may not include additional costs, such as stamp duty and other government charges.
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