As you all may or may not know, a Ferrari 250 GTO was recently privately sold for $52,000,000. The guy who bought it bought it from a collector based in GREENWICH, CONNECTICUT (and no, I did not know one existed there) known as Paul Pappalardo. The chassis is #5511 for anybody who might know about this particular one. This particular car was owned by Pappalardo since 1974. It finished 1st in the 1963 Tour d'France automobile race, and also the 1964 and 1965 Chamrousse Hillclimb events. More on this story here

Awww cr*p, why didn't he ever take that out in Greenwich.

The price for these cars really has been getting insanely high. It's unbelievable.

Every year, the 250 GTO is setting a new world record high!

That's what I'm wondering. Would have been insane to see at the Concours, or better yet, on the road. I cannot tell you how pissed I was when I found out there was a 250 GTO in Greenwich that I didn't know about.

NOOOOOOOOOOOO!!!!!
Why'd that have to sell so high!!!

Now i have to pay even more when i get my Bugatti to get back the record for them.

Would you regularly drive a car worth $52,000,000 on the street? I know I wouldn't. It's to expensive to enjoy and I would worry about it too much.

Well if you bought one in 1990 for $13,000,000 and sold it in 1994 for $2,700,000 you would have lost over 10-11 million (not inc costs), and we could be in another bubble again, which going form 10 million to 50 million in 13 years would indicate.


250 GTO Prices.

1962-4 (new): $18,500
1965 (Dec): $10,500
1968 (Jun): $6,000
1969: $2,500 (at a Kruse International auction)
1971 (Jan): $9,500
1971 (Jul): $12,000
1973 (Jul): $17,500 (£7,000)
1975 (Dec): $48,000
1978: $85,000
1980 (Mar): $180,000-200,000
1983: $300,000
1984: $500,000
1985: $650,000
1986: $1,000,000
1987 (Oct): $1,600,000
1988 (Jul): $4,200,000
1989 (Jul): $10,000,000
1990 (Jan): $13,000,000
2012 (may) $35,000,000
2013 (Oct) $52,000,000

Prices fell substantially during the car market crash of the early 90's, resulting in the most recent lows of $2,700,000 in September 1994, and $2,500,000 in May 1996. Prices would begin to climb again in the late 90s, and reached about $7,000,000 by 2000. They would reach $10,000,000 again in 2004. As of 2013 the most recent record is now quadruple that of the $13M paid in January 1990.

I'm pretty sure he meant the Concours.

He could have been at the concours once before you started going. Concourses tend to not allow the same car to enter multiple years in a row.

For the Greenwich Concours, it's three years. The closest thing I have seen to a 250 GTO was a 330 LMB.

That is a sick amount of money! For that I would have a RHD 458 Italia, and a LHD 458 spyder for Europe.
And the same with the Aventadors.
A villa in Spain
A flat in London
A house in Sirminone
And a house in Carmel!
Also a lot of change!

I never really understood why the 250 GTO is so expensive. I know the history of the car and the importance of it, but i don't see how it's more valuable than other cars and could be so expensive. I would rather buy a whole fleet of cars and still keep half that amount.
I am not hating on the car but i just don't get it. The GTO is a great car and all but i think the media is over exaggerating on the car and that's why it got so expensive. A lot of people are destroying perfectly classic ferrari's to try and convert them into GTO's. Take the 250 GTE for example

If someone asked me if I could have any one car, I would get a 250 GTO, then, I would sell it and get lots of cars!

True. The GTE is a beautiful car, and it shouldn't get destroyed for a cr*ppy replica.