Ferrari 250 GTO sets massive price in the UK, record broken

Most petrol heads will have their favorite sports car they lust after if money was no object. This can range from a number of Italian exotica from yesteryear or modern supercars from around the world. Unfortunately for most of us owning such a vehicle remains a dream unless we get lucky and win the lottery. Today we have news of a Ferrari GTO that sets a massive price over in the UK with records broken.

One of the most sought after classic sports cars is the Ferrari 250 GTO as only 39 were actually made between 1962 and 1964. Now a 1963 model with the number 5095 has been sold for £20.2 million (around $32million). According to The Telegraph it is believed to have been sold by British Businessman Jon Hunt, who purchased the car back in 2008 for a then record of £15.7 million.

The businessman made his money by selling the estate agency he founded before the recession kicked in for £370 million. This Ferrari GTO becomes the second most expensive car ever sold after a 1936 Bugatti Type 57SC sold in 2010 in the region of £20 and £26 million.

This sale was done in private during the last two weeks but rumors of it quickly spread among the vintage car industry. Chairman of classic Ferrari specialist Talacrest, John Collins, confirmed the sale had taken place but not the identity of the seller.

Records show however that Mr. Hunt was the current owner of the model number 5095 Ferrari GTO, which is now believed to be on route to Spain to its new owner. When the car was first released during the 60s it came priced at £6,000, and featured a 3-litre V12 engine that produced 300bhp. This meant it was capable of a top speed of 174mph, and could reach 60mph from standing in only 6.1 seconds, pretty impressive for a car of that era.

Even though the world is experiencing tough economic conditions sales of vintage Ferrari’s have shot up, as collectors see them as great investments. The GTO in question made the owner £4.5 million in only three years. A number of famous faces own GTO’s such as Pink Floyd drummer Nick Mason who purchased his model in 1975.

What is your favorite vintage sports car?

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Written by Gary Johnson

Gary has a background in engineering and passion for motorcycles, gadgets, and home cinema. In his early years, his obsession for Hi-Fi technology would see him creating the perfect setup with a good ear for sound quality. While Gary is keen to write about most topics that PR covers, his love for phones finds him reporting a lot of news about applications for iPhone, Android, and other popular operating systems

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