Ferrari GTO sells at $52 Million

barchetta.cc says that 5111GT is not sold and that the Bloomberg report cannot be confirmed.

 

Notice the chassis number error, 51111 and the pic is of Nick Mason's 3757GT. All these reported stories from Classic & Sports Car, Ferrari Market Letter etc all quote the Bloomberg News story as a source.

Surely somebody here who discloses their full name in their profile can confirm if Paul Pappalardo owned the car or not to be in a position to sell it or whether the Torrota Collection owned it or still owns it rather than just saying the story is not true. Let's have some elaboration please.

 

FYI a former owner of 5111 GT has posted in THIS thread.

Marcel Massini

 

The UK Daily Telegraph not only has the chassis number wrong, they also have the name of the seller wrong, the number of GTO's built wrong, the incorrect photo, etc.

Marcel Massini

 

The Torrota Collection never owned 5111 GT.

Marcel Massini

 

Thank you for your replies. It gets even more confusing. So, as the report names Paul Pappalardo as the seller and the Torrota Collection never owned it, who actually owns 250 GTO 5111GT?

 

It does NOT get more confusing.
The report is all wrong. Complete bs.

Marcel Massini

 

I guess in his position Marcel can only confirm what is incorrect, rather then what is correct due to disclosure agreements, which I for one fully endorse.

It is nobodies business other than the seller and the buyer, unless they would like it to be public knowledge.

 

Please excuse me for being thick, Marcel but I am confused. I can appreciate that you want to keep the name of the owner of 5111 GT private and I of course respect that.

You've said that the Torrota Collection never owned 5111 GT but just to clarify, please can you confirm the following:

1. Is Paul Pappalardo the current owner, you did say they got the name of the seller wrong?

2. Has the car changed hands in the last few months?

 

#1: No.
No further comments. Thanks for understanding.

Marcel Massini

 

Thank you.

 

Threads like this one , really show the lack of truth and seriousness of Ferrari game. The Ferrari cars are one thing but the game so full of ostentatiousness it hurts the cars by association. This un-creditable avoidance of straight talk and truth clearly makes for all this posturing. Way to many Hubris characters on the Ferrari stage now, these are not the sportsmen from the old Ferrari days or the contemporary ones that have a passion for the cars.

I've noticed one thing, these ''' characters '' playing Kings of the Court don't actually own any particular neat cars. They have very little mechanical interest , a bad eye for correctness and even worst design/engineering knowledge. They feed on valuations and personalities of the hoarders instead of the creditability of the cars. What they own is a keyboard and enough outdated document knowledge in poorly researched books to be considered dangerous. It's been that way for a long time. Any person of a slightly higher intelligence out there sees it. The amount of smoke and mirrors discussions are reflective of a bunch of old women at a Bingo game.

I think that will change when the flow of information is managed by the academics and not the Narcissus. A creditable transition from all this ‘’justified belief ‘’switches to a cleaner level of true academic knowledge that will over time make this subject less like dealing with the mafia.

The Ferrari market is developing a demand for creditability. That is based on preservation of the cars and clean information sourced by passionate enthusiast, much could be linked to the cars coming on as investments in a world of fiscal mayhem and the search for belief in real-value assets that hold a joy in their custodianship.. IMO.

 

Does anyone here really believe that someone who was involved wants to discuss the deal on detail here publicly - if the deal really took place ....???

And why are we "mortals" discuss this kind of somewhat absurd prices? What kind of interest we have if a 250GTO went for $52m, 55m or 55,6456m????

I drove a 250GTO a full day some years ago and was impressed how easy it handles - and thats interests me more.

 

Well Ferrari has acknowledged this sale - front page of their website.
So evidently those who say they know, probably don't really know....

I highly doubt Ferrari would publish the article, or the headline, if it weren't true...

Kevin

 

This thread is very frustrating.

How about this . . . did a Ferrari of unknown serial number recently change hands for a price in excess of $50 million?

 

Which carries the implication there has been a recent significant transaction

 

Don't expect a straight answer. Yes it sold. There you go.....keyboard + internet gives me knowledge
Lol

 

Again, Ferrari cite the source of information as Bloomberg.

A record breaking car, an amazing investment » Ferrari Magazine - For Ferrari cars owners and fans

 

Agreed - but do you think they would publish this if there wasn't even a fabric of truth to it?

 

Some people believe the Series 1 E-Type is prettier than the GTO. Can you imagine if it had the GTO's marvelous engine and a slightly wider stance?

 

Bloomberg video links:

A 1963 Ferrari Racer Sells for $52 Million: Video - Bloomberg

http://www.bloomberg.com/video/1963-ferrari-250-gto-sells-for-52m-UHMeKZLdS2~3~5eV2CVp_g.html

Written article:http://www.bloomberg.com/news/2013-10-02/ferrari-gto-becomes-most-expensive-car-at-52-million.html

 

You wouldn't have thought so would you, but......

Interestingly Ferrari say in their piece that there were 39 GTOs.

From the Ferrari piece: "Even more impressive is the 49% increase compared to the sale of another of the 39 GTOs produced in Maranello and sold last year."

 

I think people put too much weight behind these articles in Ferrari's website, with regards to accuracy. It looks like they employ 3rd party journalists and PR people to write them. I bet they don't check their facts as thoroughly as they probably should.

 

Remember that there is a difference between "GTOs" and "250GTOs".

 

Yes, I realise that but it's generally stated now that there were 38, not 39 if you include the 2, and not 3 330 LM (4.0 litre GTO) with 3673SA now discounted as being one.