GTO sells for 32 Million Dollars

champagne612 · 02-03-2012, 03:27 AM

Anyone here buy it

A Rare Ferrari GTO Just Sold For A Jaw-Dropping $32 Million

Jeff Kennedy · 02-03-2012, 04:38 AM

Apparently European seller and Euro buyer.

Jeff

212Export · 02-03-2012, 05:10 AM

Can not understand this high paid price as the Ansa exhaust on that 250 GTO clearly showed some rusty underside...

fromage · 02-03-2012, 06:31 AM

glad to see prices going upward, that raises the bar for the rest of us when it comes time to sell, global economies are in the toilet, central banks are wearing out the presses printing money, inspite of denials from various governments, inflation is only getting warmed up,

rumor has it that a 250GTO traded ( in a very private sale ) for more than that in the last year or so... if the buyer or seller can be taken at their word

Killer58 · 02-03-2012, 07:21 AM

Quote:

Originally Posted by 212Export

Ansa exhaust on that 250 GTO clearly showed some rusty underside...

Pfffft... I wouldn't have paid a nickle over thirty-one five...

tazandjan · 02-03-2012, 07:42 AM

Original paint? Are they joking?

champagne612 · 02-03-2012, 01:12 PM

Quote:

Originally Posted by tazandjan

Original paint? Are they joking?

LOL

I think the whole thing is a joke!

32 million for a car that is 1 of 36 ....

Jeff Kennedy · 02-03-2012, 02:22 PM

Quote:

Originally Posted by champagne612

LOL

I think the whole thing is a joke!

32 million for a car that is 1 of 36 ....

Supply and demand. Each GTO has significant period history. Some are even spectacular histories. GTOs regularly beat their competitors including Cobras, Aston Martin, Jaguar E-type and Corvettes at the most famous championship races of the day. Famous drivers have shared just about every one of the driver seats.

It is also the ultimate development of the classic 3 liter Columbo motor. And front engined. They are easier and more forgiving to drive than the later mid engine 250 LM. These are easily drivable on the street too. Being an iconic design in both Series 1 and Series 2 bodies doesn't hurt either.

Jeff

wetpet · 02-03-2012, 02:35 PM

when i was at cavallino a couple of weeks ago, somebody who would know told me one of the gto's there traded for 36m.

Barry · 02-04-2012, 04:05 AM

Quote:

Originally Posted by wetpet

when i was at cavallino a couple of weeks ago, somebody who would know told me one of the gto's there traded for 36m.

I find it difficult to get my head around these kind of figures being paid for cars. Probably becuase I can't comprehend actually having that type of money...

Jeff Kennedy · 02-04-2012, 06:04 AM

Quote:

Originally Posted by Barry

I find it difficult to get my head around these kind of figures being paid for cars. Probably becuase I can't comprehend actually having that type of money...

So someone decides to like cars instead of Picasso, Matisse, Rembrandt or Rodin.

Or maybe the alternative was a yacht. What is the joke on that - a hole in the water to pour money into.

Jeff

Barry · 02-04-2012, 06:30 AM

Quote:

Originally Posted by Jeff Kennedy

So someone decides to like cars instead of Picasso, Matisse, Rembrandt or Rodin.

Or maybe the alternative was a yacht. What is the joke on that - a hole in the water to pour money into.

Jeff

Absolutely a fair point. If I had to spend 32m on a GTO or a Picasso it would be space in the garage I'd be making an not on the wall

Boxer · 02-04-2012, 11:13 AM

Quote:

Originally Posted by champagne612

LOL

I think the whole thing is a joke!

32 million for a car that is 1 of 36 ....

But if you consider what some paintings go for, seems almost understandable.

tazandjan · 02-04-2012, 02:08 PM

For that kind of money, I can think of a bunch of Ferraris I could buy, but the owner probably already has most of those, so more power to him. Let me see, 16 $2M cars or 32 $1M cars or......

champagne612 · 02-04-2012, 02:24 PM

Quote:

Originally Posted by Jeff Kennedy

So someone decides to like cars instead of Picasso, Matisse, Rembrandt or Rodin.

Or maybe the alternative was a yacht. What is the joke on that - a hole in the water to pour money into.

Jeff

There aren't 35 of the above like the car referenced.

champagne612 · 02-04-2012, 02:32 PM

Quote:

Originally Posted by Boxer

But if you consider what some paintings go for, seems almost understandable.

My issue is the other 35 tether the value to the last sale.

If one sells at 25 and another at 20 it's a huge risk.

Art is way for many wealthy people to hide money or place on display for a business write off or expense.

... just my .02

wintech · 02-04-2012, 05:52 PM

considering the collection he already has ,I didn't see a GTO in there though.Maybe this is where it went?

Basman007's Brunei Gallery Gallery - 'Sultan of Brunei Ferrari - Part 1: The Specials' - Supercars.net

Boxer · 02-05-2012, 12:18 AM

Quote:

Originally Posted by champagne612

My issue is the other 35 tether the value to the last sale.

If one sells at 25 and another at 20 it's a huge risk.

Art is way for many wealthy people to hide money or place on display for a business write off or expense.

... just my .02

I don't think that is quite the case on 250 GTOs. Each one is unique and the value of an individual car is influenced to a great deal by its history. Talking to a few experts, the indication is that the spread among 250 GTOs is around $10 million from a Series II to a LeMans winner.

champagne612 · 02-05-2012, 07:25 AM

Quote:

Originally Posted by Boxer

I don't think that is quite the case on 250 GTOs. Each one is unique and the value of an individual car is influenced to a great deal by its history. Talking to a few experts, the indication is that the spread among 250 GTOs is around $10 million from a Series II to a LeMans winner.

I am 99% naive to this - just speaking from an outsider looking in.

Just wonder when that era of remembrance goes what the value will be in relation to supply and demand.

Investments of this size and nature are just mind boggling.

wetpet · 02-05-2012, 07:46 AM

pretty sure he won't be interested....

Quote:

Originally Posted by wintech

considering the collection he already has ,I didn't see a GTO in there though.Maybe this is where it went?

Basman007's Brunei Gallery Gallery - 'Sultan of Brunei Ferrari - Part 1: The Specials' - Supercars.net

02-03-2012, 03:27 AM	#1
champagne612 Owner Elite Member Join Date: Sep 2010 Location: St Louis Ferrari Life Posts: 4,629 Name: Doug	GTO sells for 32 Million Dollars Anyone here buy it A Rare Ferrari GTO Just Sold For A Jaw-Dropping $32 Million

02-03-2012, 07:42 AM	#6
tazandjan Owner Elite Member Join Date: Aug 2011 Location: Albuquerque, NM Ferrari Life Posts: 3,592 Name: Terry H Phillips	Original paint? Are they joking? Taz Terry Phillips Present: 575M 135171 Past: Dino 246 GT 02984, 365 GTB/4 14009, 308 GTS 25125 Every day I look around, and if nobody is shooting at me, it is a pretty good day.

02-03-2012, 02:35 PM	#9
wetpet Owner Elite Member Join Date: Jan 2006 Location: Chevy Chase, Md Ferrari Life Posts: 6,599 Name: Ed	when i was at cavallino a couple of weeks ago, somebody who would know told me one of the gto's there traded for 36m. Everything you know is wrong Stop chatting and start living the ferrarilife!

02-04-2012, 02:08 PM	#14
tazandjan Owner Elite Member Join Date: Aug 2011 Location: Albuquerque, NM Ferrari Life Posts: 3,592 Name: Terry H Phillips	For that kind of money, I can think of a bunch of Ferraris I could buy, but the owner probably already has most of those, so more power to him. Let me see, 16 $2M cars or 32 $1M cars or...... Taz Terry Phillips Present: 575M 135171 Past: Dino 246 GT 02984, 365 GTB/4 14009, 308 GTS 25125 Every day I look around, and if nobody is shooting at me, it is a pretty good day.

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02-03-2012, 04:38 AM	#2
Jeff Kennedy Owner Elite Member Join Date: Aug 2011 Location: Edwardsville, IL Ferrari Life Posts: 378 Name: Jeff Kennedy	Apparently European seller and Euro buyer. Jeff

02-03-2012, 05:10 AM	#3
212Export Owner Elite Member Join Date: Oct 2007 Location: Europe Ferrari Life Posts: 2,278	Can not understand this high paid price as the Ansa exhaust on that 250 GTO clearly showed some rusty underside...

02-03-2012, 06:31 AM	#4
fromage Owner Join Date: Oct 2011 Ferrari Life Posts: 56	glad to see prices going upward, that raises the bar for the rest of us when it comes time to sell, global economies are in the toilet, central banks are wearing out the presses printing money, inspite of denials from various governments, inflation is only getting warmed up, rumor has it that a 250GTO traded ( in a very private sale ) for more than that in the last year or so... if the buyer or seller can be taken at their word

02-04-2012, 05:52 PM	#17
wintech Owner Elite Member Join Date: May 2011 Location: Perth WA OZ Ferrari Life Posts: 72 Name: Pete K	considering the collection he already has ,I didn't see a GTO in there though.Maybe this is where it went? Basman007's Brunei Gallery Gallery - 'Sultan of Brunei Ferrari - Part 1: The Specials' - Supercars.net