250 GTO for sale?

during the great crash of last week there was a thread where a guy claimed he knew of a GTO for sale by a private owner. sounded sketchy but anyone know anything else??

 

What crach ???

 

FerrariChat went down and lost some old threads. Rob had to restore from a backup I believe.

Just before the 'crash' somebody posted that a GTO was for sale. The amusing part was that it appears it does not matter what you are selling, if you are a second hand car dealer ... the ads all sound the same, ie: rare, 1 lady owner, original, blah blah blah ... well I found it amusing.

All that needs to be stated is Series 1 or 2 GTO is available, the right people with the right interest will contact as required and request chassis number ...
Pete

 

I was going to post the same question...

 

nah, I doubt its true...

 

Isn't this really like anything else in the world?

They're all for sale, you just have to be able to offer a price that's high enough to pry the car away from its current owner.

I mean, a 250GTO owner might say, "No, it's not for sale" but if you offer $90MM for it, he's probably gonna say, "Sure, it's yours." and maybe, "Oh, and I'd prefer cash."

Now if you mean one that's publicly listed for sale, I don't think that happens very often on most of the really high end and rare cars. They trade hands outside the light of day more often than not, don't you think?

 

Yeah well my cousin in Nigeria has asked me to sell his 250 GTO so if you would just send your bank account details to The Royal Nigerian Bank

Ha Ha

Tim

 

Yes, there is a Series I for sale(private sale, chassis number intentionally withheld). As one might expect, it's VERY, VERY expensive. It's my understanding that the last sale was in the range of $14M......this is more. Contact me offline if you are sincerely interested. Vince, [email protected]

 

Lots of stories and myths floating about.

Here are some facts...

The last two S1 GTOs to trade hands did so for far less than $10M. These sales took place in the past 24 months.

There are two other GTOs that are being quietly and privately offered about. Both are ok cars and could potentially be purchased for something between$10M and 10M Euros.

Before anyone asks... I am not involved in the possible sale of either car.

Regards,

Bill Noon

 

I was offered one in Europe, which is probably one of the two Bill mentioned, for $11M some time ago (I think spring of 06). Basically it was a tier 3 car. This was back when the Dollar to Euro exchange rate was a bit more favorable. The car is still available which probably confirms Bill's comments on the real price of 250 GTOs.

$14M Plus? The best one, at least to my knowledge, isn't available (he sure doesn't need the money), so I have no idea what other one would be worth this kind of money.

Steve

 

Everything is for sale, its just how much people are willing to pay

 

Sorry to highjack, but what ever happened with the GTO frame that was for sale on E-bay a few months back?

You know, current owner has "X" GTO (with rebuilt frame)...then OEM frame comes of for sale..... etc/dilema?

 

That's a question for Bill Noon. Bill?

 

s/n 4293 is the best one, or so I've read!

 

Would you say TR's are still valued lower than 250 GTOs or will they now be taking over the crown?

 

Hi Steve,

Just wondering, how can a GTO be rated tier 1, 2 or 3? The restoration cost is irrelevant. Isn't it? The $300k-$500k restoration cost is a mere fraction of the value of the car.

Now, I can see where one may tier categorize a GTO based not on its condition, but its history. Is this what was meant by tier 3? Just trying to learn.

john

 

History and how much of the original car survives. This has been restored and recently raced at the Historic Le Mans but IMO it is worth less than a car where more of the original car remains...
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The Porsche 90..? that burned to the ground during Tour Auto a couple of years ago?

 

No, Ford GT40. I think it was the one in the Salt Walthers garge fire and buried.

 

That was turned into this.
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So it is a "new" car with old identity.

 

Continuous history solves this situation too. The GTO with the rebuilt frame is the GTO, but ofcourse it's been devalued compared to others with their original frame. Ofcourse if it's race history is more illustrious then who cares about the frame ...

Chassis are just one of the many parts that make up a car, and they sometimes have to be replaced. This is ofcourse complicated by the fact that we recognise the chassis as the car for registration purposes, but the car is really the final moveable form of assembled components and in racings case what it was referred to when entered on entry forms.

This, ofcourse in Ferraris (and Lotus') case very complex because they lied and cheated for duty reasons ...

I must say if I ever own something significant in the historic racing world, anything that I unbolt from the car, will be locked in a safe ... never binned
Pete

 

Jim-- can you provide a link or some more insight into this buried GT40?

I find the whole thing fascinating but the research on the 'net is tedious.. most of what I find pertains to X-1 (which being only 5 miles away still perks my interest). Just curious how it ended up in the dirt?

-Chris

 

The building that it was in burned to the ground. This is what was left.
It was owned at the time by Salt Walther's (Indy Racer) and auctioned off as as burnt remains. I was "restored" into the car I posted.

Best