It probably does not come as a surprise to many owners of classic cars to hear that the world record has recently been broken by a considerable sum for a car following the private sale of a 1963 Ferrari 250 GTO to an American business man. The person involved is thought to have paid $70 million for this extremely rare vehicle. Converting that sum into pounds sterling means that in the region of £52 million has been spent.
Apparently, only 39 of these wonderful classic sports cars were built and this one has taken part in a number of races over a period of time.
The sale price achieved far exceeds the previous world record that was believed to be for around £40 million. One cannot help but wander how much the next Ferrari 250 GTO goes for when one eventually becomes available for sale. At what point are we going to see such a vehicle fetch $100 million?
It is no secret that the Ferrari 250 GTO is highly sought after and has been for many years. This make and model of car does not come on the market very often and when one does it no doubt attracts a great deal of attention and commands a premium price.
Ferrari has always been renowned for building fantastic sports and racing cars to this day and it will be interesting to see if one or two of the cars that are being built at the moment will eventually become desirable classic motor vehicles in 25 years time. It will not be a surprise if some particular Ferrari models are bought by collectors as investments. However, it should be borne in mind that just because classic Ferraris have proved to be a very good financial investment for some in the past does not mean to say that this will be the case in the future.