GTO sells for 32 Million Dollars - Ferrari Life
 
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post #1 of 20 Old 02-03-2012, 03:27 AM Thread Starter
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GTO sells for 32 Million Dollars

Anyone here buy it

A Rare Ferrari GTO Just Sold For A Jaw-Dropping $32 Million
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post #2 of 20 Old 02-03-2012, 04:38 AM
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Apparently European seller and Euro buyer.

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post #3 of 20 Old 02-03-2012, 05:10 AM
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Can not understand this high paid price as the Ansa exhaust on that 250 GTO clearly showed some rusty underside...

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post #4 of 20 Old 02-03-2012, 06:31 AM
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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
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post #5 of 20 Old 02-03-2012, 07:21 AM
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Ansa exhaust on that 250 GTO clearly showed some rusty underside...
Pfffft... I wouldn't have paid a nickle over thirty-one five...

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post #6 of 20 Old 02-03-2012, 07:42 AM
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Original paint? Are they joking?

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post #7 of 20 Old 02-03-2012, 01:12 PM Thread Starter
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Original paint? Are they joking?
LOL

I think the whole thing is a joke!

32 million for a car that is 1 of 36 ....
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post #8 of 20 Old 02-03-2012, 02:22 PM
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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.

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post #9 of 20 Old 02-03-2012, 02:35 PM
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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.



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post #10 of 20 Old 02-04-2012, 04:05 AM
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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...

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post #11 of 20 Old 02-04-2012, 06:04 AM
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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.

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post #12 of 20 Old 02-04-2012, 06:30 AM
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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

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post #13 of 20 Old 02-04-2012, 11:13 AM
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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.
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post #14 of 20 Old 02-04-2012, 02:08 PM
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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......

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post #15 of 20 Old 02-04-2012, 02:24 PM Thread Starter
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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.
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post #16 of 20 Old 02-04-2012, 02:32 PM Thread Starter
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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
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post #17 of 20 Old 02-04-2012, 05:52 PM
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considering the collection he already has ,I didn't see a GTO in there though.Maybe this is where it went?

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post #18 of 20 Old 02-05-2012, 12:18 AM
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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.
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post #19 of 20 Old 02-05-2012, 07:25 AM Thread Starter
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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.
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post #20 of 20 Old 02-05-2012, 07:46 AM
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pretty sure he won't be interested....


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

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