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But you cannot compare the Ferrari 250 GTO and the California T on price, as the older car sits in a price bracket that no other car occupies. In 2014, an example sold at a Bonhams auction for $38,115,000. Yes, that’s one car for $38m, or £23m in the Queen’s currency.
Universally, automotive enthusiasts believe that the Ferrari 250 GTO is more special than any other Ferrari ever made. Scratch that. More special than any other car ever made, and they only made 39 in total. It’s beautiful from every angle. They were race winners, dominating and cementing Ferrari’s position on the track. It was also a car that had number plates on, so after the race drivers could simply drive home. Try that in an LaFerrari FXXK!
Sadly, the price is well North for the rich, and even the super-rich will struggle to obtain one. Owners like to keep hold of them, and despite the cost, are actually used. Depressing it seems if you are rich but not wealthy enough. But luckily now there is a solution, which will involve spending less money and retaining both your kidneys. The solution, a brand new, never used, Ferrari 250 GTO, conversion.
Friday Drool – Ferrari 250 GTO conversion.
The back in the 80’s and 90’s the 250 cars were unloved and as a result the prices just kept dropping. Everyone wanted the latest models, and the worst to be hit was the 250 GTE, 2+2 cars. Many GTEs were stripped of their parts, while some went through a conversion from a coupe to other models like the GTO or Spider California.
Mechanically these were more or less the same, and chassis designation was correct too, being a 250 already. They were originally built by the same people on the same production line, but they came out with a little more luxury and a few more seats. Many were overtime converted to the GTO spec.
This exceptional Ferrari 250 which started life in 1963 as a GTE, serial number 4861GT was delivered new in Italy. In the early 1990s Terry Hoyle, the renowned competition engine builder who has a passion for classic Ferraris running deep in his veins, converted the car into what is widely acknowledged to be one of the most faithful GTO recreation.
The project was initiated by Gabriele Rafanelli who was quite famous then in the racing car world having been the AGS F1 owner. He was later entrusted to run the BMW official racing programs in endurance with the M3 Group A, 320 ST, McLaren F1 GTR and the Le Mans winning V12 LMR via Team Bigazzi-Rafanelli. Rafanelli’s brief was extremely demanding and he instructed Terry Hoyle to build his GTO to be as close to a Factory 250 GTO as possible. In a recent conversation we had with Terry, he confirmed that from the seven GTOs he had built, this was the most accurate he had ever completed. The « GTO » benefited from an uprated engine with six 6 double Weber carburetors, dry sump, GTO cams and high compression pistons. It also received a 5-speed gearbox ( with the correct casing & Colotti internals ), original suspension componentry, fuel tank and other modifications to match 250 GTO specifications. The bodywork was subcontracted to Rod Jolley, the well known craftsman and master of aluminum coach work. The build cost at the time came close to $600,000.
The car since then has had a pretty surprising life and instead of being used in anger on the track, it has been exhibited like a work of art. In 2006, the converted 4861GT was acquired by a Spanish collector who displayed the car in his office. Its only outing during his ownership and first run on the road actually, was a test drive for a major 8 page article for the Spanish Magazine « Motor Clasico » in 2008. This article mentions several times the exceptional build quality and exacting attention to detail. In 2014 the car changed hands via Art & Revs and was once again displayed in the owner’s car collection and maintained in running condition.
More than 25 years after its build, this outstanding car is still “as new” and ready to be incorporated in a collection or it would be perfect to take part in historic racing. If it were to be used in competition, it would only require minor work to comply with the latest FIA regulations.