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

As Terra (rightly, IMO) points out below, the majority of people participating at this level - both buying and selling - typically prefer more privacy.

It seems that there is a public 250GTO auction every 4-5 years. Regardless of anyone's opinion of value for 3765, there is a definite cloud of disappointment hanging over the result, if for no other reason than the auction house not living up to their own marketing bluster. With this sale coming on the heels of several other marquee lots not living up to their hype, I can imagine it might cause second thoughts for any other sellers of similar cars when choosing a sales avenue...

That is to say, there's a chance we might not see another public auction of a GTO before 2030. Then again, a lot can change in 7 years.

 

https://www.ferrarichat.com/forum/posts/149399825/

 

See the very last paragraph in The NY Times article for Kidston’s quote.

 

See also post #282.......

Marcel Massini

 

$52M invested today at a “meager” 10% will be >$100M in seven years

 

Considering your note that there are 3 GTOs available right now, that tagline was a bit of nauseating hyperbole.

 

The last proper market crash was in 1990/91 and the market remained stagnant til the very late 1990s. At that point some 7/8 years of collector deaths, bankruptcies, the Tokyo property crash and a few more things all caught up and there were multiple GTOs on the market and for that matter anything any collector could want. In the period 1996 - 2001 the value of GTOs ($5-10 mm), 250TR (3 - 7mm) and a lot more beside were cheap, tech stocks were booming and supply and demand began to balance out with many collections being created (Rob Walton, Jon Shirley, Ed Davies and the McCaws just a few who bought most of their cars in this period).

Todays issue is that most of those collectors were in their prime years, fifties or sixties, and today are 75-80+. Sure some will set up a trust/ LLC and are fabulously wealthy, enough that the value means nout and they never get sold. Even still many will want to sell, many will pass (time waits for no man/ woman) and many will still look at a $50 mm payout and want to do whatever they want with it. Results may be soft but are still not the falling off the cliff (like those who were watching saw in 1990/1) so I would opine we are not witnessing a crash per se so cars will keep coming and will keep selling. I wouldn't want to be the auction house executive charged with telling a type A collector that his cars aren't worth as much as he/ she expected but still for most at this level their car collection is but a small % of their net wealth.

 

Right. My post wasn't to opine about the potential for a market crash, or values of GTOs seven years out... Simply that if I were an owner / seller of a GTO, in light of recent results (and my personal, general preference), I would explore options other than an auction to sell my car, in response to TestShoot saying he doesn't "expectto (sic) see a 70mm GTO auction sale before 2030"... Key word, being "auction".

 

Image Unavailable, Please Login

 

I have no proof to say otherwise but I would be surprised if 4153GT, 0774TR, 0684 or 0856 were sold for less than $47M.

 

So does Ferrari call this car a 250 GTO, a 330LM or what? Race cars constantly get changed and upgraded during their racing lives.

 

And you can certainly add 3647GT to that short list (which sold nearly 1.5 years ago for not much less than TWICE the above figure).

 

So what was the exact figure? $90M? Not trying to be ****** but can you prove it?

 

#3647GT and even #3809, a car with lesser history and some incorrect body sections, was sold for 45m Euro (!) some years ago plus the commission for the very well known broker. OK, both cars were sold privately and not at an auction...

 

3809.

$ not Euros.

How much did 3647 sell for?

 

A bit less than that. I don’t need to “prove” it, but do have it on extremely good authority, etc.

 

if you have the money to buy this car you also have the money to pay ferrari for the red book

 

I'd take this used car over a Basquiat.

 

From the RM Sotheby's 3765 LM text:

• The only GTO Tipo 1962 raced by the Scuderia Ferrari.
• Chassis number 3765 is the only Works GTO example that was originally equipped with a 4-liter engine.
• It is worth noting that 3765 is the only factory GTO Tipo 1962 example to have been campaigned by the Scuderia Ferrari.

But it wasn't a GTO or a GTO Tipo 62 then, it was a 330 LM. It became a 250 GTO between May and October, 1963.

• Finished in Rosso Cina paint, the uprated GTO debuted for the Scuderia Ferrari at the Nürburgring 1000 KM on May 27, where it was entered as race #120.

So the 330 LM was an uprated GTO.

• It is worth noting that 3765 is the only factory GTO Tipo 1962 example to have been campaigned by the Scuderia Ferrari.

The only GTO that was raced/campaigned by the Scuderia Ferrari was #5573, a Tipo 64. Fact.

 

agreed.

frankly, i would have loved to be the guy who bought this..not for the obvious reasons, but for the fact that he is now part of one of the most exclusive clubs in the world, and got in on the cheap (not as cheap as Nick Mason of course). its not like the new owner will get a lesser room on the next gathering, or have to sit at a different table, or not be invited to race it at goodwood. and i bet it drives just as good as one with a spotless provenance. frankly i would care less if this has a history that needs explaining - that makes telling the story more interesting. i think people looking down their noses are missing the point of ownership of the 250gto.

 

Image Unavailable, Please Login i can finally prove to my wife “ it’s normal “


Sent from my iPad using FerrariChat

 

Ferrari offer original build sheets to show that at one point (1963) Ferrari considered the car to be a 250GTO. Another build sheet (the original - 1962) says it is a 330LM. So it would be pedantic not to consider Ferrari thought it was both. Who are we to dictate at what point a car must be restored to, or what it must be considered as. Thats Ferraris game

 

Sure and I wouldn't necessarily disagree. Every seller is a human and as such they will have their own motivations. Who is to say that #3765LM was quietly offered amongst friends and the offers were well below RMs amount. For all the fact it is the ultimate Ferrari, how many collectors have the cash and interest to play at this level and being humans, perhaps all the buyers are only looking at 250GTOs or sitting on their hands in late 23? IF I was a billionaire I would tell you lol

 

The ex-owner of #3809 is a good friend of mine. He just confirmed to me that it was in Euros!

 

Thanks.