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According to BBC News....



An extremely rare Ferrari 250 GTO, one of just 39 built, has been sold for more than £20m ($31m).

The car's seller is thought to be Jon Hunt, the founder of Foxtons estate agency, although the businessman has declined to comment on the matter.

Its three litre V12 engine develops 300bhp and does 0-60mph in 6.1 seconds with a 174mph (280km/h) top speed.

Classic Ferrari dealer John Collins, who once owned the 1963 car, said it had gone to a buyer "across the pond".

"If I'd have thought it would go for that price then no way I would have sold it - I would have hung on to it," said Mr Collins, who sold the car for £2.2m ($3.5m) in 1996.

Mr Collins hinted that the lucky buyer was actually located in South America, despite reports the car had gone to Spain.

The sale ranks as one of the most expensive ever, only eclipsed by a 1936 Bugatti which sold for between $30-40m (£19-25m) in 2010.

The £20m Ferrari - model 5095 - also had a successful racing career, making its debut in the 1963 Tour de France road race - finishing second - and winning three competitions in 1964.

Car fan DJ Chris Evans also had the pleasure of buying a 250 GTO in 2010.

The Radio 2 presenter splashed out £12m ($19m) to get behind the wheel of a car viewed by experts as one of the most beautiful ever made.

Mr Collins, who's been dealing with classic Ferraris for 30 years, said that many ultra-rich buyers were increasingly looking at classic cars as a safe investment in uncertain times.

"People are treating them like Picassos and Warhols," said the dealer.
 

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The 250 GTO is absolutely beautiful. One of my all time favorite cars along with the Jag XKSS.
 

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Every time one of these, or an SWB, TR, 166MM etc sells, usually sight unseen, or in pieces, it reminds me of all the neurotic modern Ferrari buyers that nickle and dime every deal, and MUST have a PPI, and God forbid there is an accident in the history, or a door ding... they won't spend their $100-$200K. Whereas all of the GTO's, SWB's, etc have at some point, been stuffed, repaired and repainted.... usually multiple times, and yet they keep escalating in value.
 

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Excellent car! Hard to believe the prices continue to climb. All the "good" Ferrari's are well out of my price range now. Might still be able to pick up a dino 246 GT semi-reasonably, but those are increasing too.

Regarding what Rascasse said about crashes, I saw a dude stuff a vintage testarossa in the corkscrew a laguna seca a couple years ago during the historic races. Sad.
 

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Awesome car ! But I don't have 20m £ to spend ;)
 

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That is still one of the safest investments if you have the upfront money to purchase it. Unless for some reason thousands more are found (Impossible) the car should just continue to increase in value. I'd take the type 57SC atlantic Bugatti over a 250gto though, much more class IMO
 

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WOW that is crazy!
 

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"Hello and thank you for calling State Farm. How can I help you today?"
"I need a quote on some insurance.." :laugh:

Lets hope this guy drives it and not hang it on the wall like some Picasso .
 

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Price doesn't surprise me one bit. Like someone said above, one of the best investments ever.
 
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