‘62 GTO 3765 to be auctioned at Sotheby’s NYC November 13.

The earlier Factory Build sheets state the chassis type as 539/566 and later 538/566. Wheelbase is stated on the Build Sheets as 2400 mm whereas it was generally accepted to have a 2420 mm wheelbase.

 

These pictures are so cool. In 1974, nobody, even car guys, knew anything about these cars. Can you imagine this happening today? NFW.

This is when the legend of Ferrari was built. The factory didn't care. Enzo didn't care. But a hard-core group of guys keep the fires burning. It was an amazing period. We will never see this happen again.

 

Mr. Massini, I understand your concern. You are an historian and an enthusiast. But, to a billionaire, $60 million is chump change. Once you get to this level of wealth, you cannot spend your money fast enough. Is there someone out there who would spend $60 or $100 million on this car? In a heartbeat.

 

Regarding the Leydorf/Rueter photos, in the quest for historical accuracy, the impeccably dressed man in the tan shirt and pants is Fred Leydorf, and the blonde woman in the background of the last photo is my wife Sue and the brunette is Brenda Rueter.

 

To what degree is the rear suspension of this 330 the same or different from a regular 250 GTO? The GTO's rear was noted as an inventive development of the SWB in order to be homologated as a continuation of the prior model.

 

Jeff: The rear suspension is the same. As I recall, the spring rates may be slightly different. The only difference between a SWB and GTO is the addition of a Watts Linkage, and "helper" coil springs.

 

Here are two photos of 3765 in the Ferrari showroom on Park Avenue in Manhattan
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Imagine buying this as “Art” and putting it on display, probably one of the cheapest ways to play an interesting collector card for little money in that world.

You are absolutely right. Sotheby’s isn’t trying to find a car guy to bid, they are being much smarter. The response will show if they were right or not. If I had that PoweBall ticket…..

 

I think billionaires didn’t make their billions by throwing money into unwise investments. I don’t know the value of the car in question, it certainly has some interesting history albeit with the engine that it didn’t race with, so it’s an interesting part of Ferrari history. If I had a GTO or two and maybe one of the 330 LLBs it would be fun to add this car to the collection, but at what price? If I was looking for a plain vanilla GTO I would probably buy one of the several currently available for sale. If a real 3 liter is $60m, is this 440/330 not really a GTO, GTO $30m-$40m?

 

I love this post.

 

You're right, billionaires don't become billionaires by being stupid. But once you reach that level, your money starts growing faster than you can spend it. The uber wealthy live in a different world. If something catches their fancy, they buy it. Frankly, I think it is a cool car, but it doesn't matter what I think. I couldn't afford it at $6 million. I think Shawn is right. Sotheby's is looking outside the enthusiast market. It will be interesting to see what happens.

 

I agree. Its not like you can bank that much money and stocks and shares aren't a tangible asset. Even if you bought the best house in Beverly Hills, a condo in NY and a French Riviera holiday home you would still only be $200 - 300mm in the can. Add a Monet and a superyacht and its still only $500mm. Why not another $60 - 100mm for the ultimate Ferrari? Even when the last true collector car market crash occurred in the 1990-1992 era GTOs dropped less than other asset classes and in the medium term regained their pre crash value within a decade and more than doubled that value within 25 years (today they are 300% more than they were pre 1990). And that crash required a overheated market, very few end users/ too many speculators and a lot of debt, none of which is present in todays market (well maybe the debt part to an extent). A GTO, especially THIS GTO is a pretty safe bet for a cashed up oil sheik, tech billionaire or anyone with the interest and funds.

 

Proving the absurdity of the speculators and non-enthusiasts…

Doubling in value in 25 years is well under 3% return per year…add in a ten year recovery and it drops under 2%.

$60-100 million tied up in a low performing and potentially volatile asset requires some level of enthusiasm.

 

I understand, but again, the uber wealthy are different. They already have assets growing at 20+%. If they want a toy, they buy it.

 

I would point you to the instagram account of Francois Perodo who is the exact kind of buyer for this car. If you follow him there you will realize that at that degree of wealth, paradoxically, all that matters is the enjoyment of the object itself, which is what most "poor" enthusiasts would say about fun to drive cars made in the millions. The buyer of a 250 GTO today is not truly worried about making their money back - at least not enough so that they won't put in a bid.

 

I think you both missed my point…we’re on the exact same page. Those looking for an investment would be wise to look elsewhere. The ones who buy are, at varying levels, enthusiasts.

 

This is a point I made earlier in the thread and I think the key to the selling strategy - By choosing a contemporary art sale as the venue for the sale, Sothebys is looking beyond the normal RM clientele. Everyone will recognize "Ferrari", but by crafting the story that the GTO is the vintage Ferrari, Sotheby's is attempting to appeal to the buyer that would otherwise typically think $60mm is just another collectible purchase (I haven't looked at the auction catalogue, but it wouldn't surprise me if the GTO isn't even in the top half of the top 10 lots on offer... that's the scale of the contemporary art market). This exact strategy was applied in 2017 with the Michael Schumacher F1 car, and it paid off in spades for them.

 

They will also not know it's strictly not a GTO. Heh.

 

Start your bidding..

https://rmsothebys.com/gto/

 

even if it's a poor return on investment it's absolutely a status symbol and a talking point to have this very special car

 

See the already existing thread in Vintage Ferrari Market:

https://www.ferrarichat.com/forum/threads/62-gto-3765-to-be-auctioned-at-sothebys-nyc-november-13.681615/

Marcel Massini

 

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The historical documents that are on file is just incredible !


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What is the most that a 250 GTO has actually sold for?

 

The highest published sales price was #4153GT in 2018 at $65-70 million. The incredibly original #3647GT sold in 2022 in a private sale so we may never know exactly how much $$$$ changed hands although it should have sold for more than #4153GT since the buyer was supposedly the underbidder of #4153GT and this is reputedly the last properly original GTO. #3729GT with its fabulous history of British competition is/ was for sale with Simon Kidston in 2023 and may also break the record although again will we ever have a published sales figure after it has sold?