GTO the world’s most expensive car
‘Diamonds, Ferraris and Warhols’ best investments
ACLASSIC Ferrari first built for British racing legend Sir Stirling Moss has sold for a record £22.7-million (R297-million), making it the most expensive car in the world.
The 1962 Ferrari 250 GTO, owned by UK-based businessman Eric Heerema, was sold to US-based classic car collector Craig McCaw. The record-breaking price beats the previous sum of $32 million (R270-million) paid for a 1964 Ferrari 250 GTO back in February.
Despite the fact that Moss never actually raced the classic Ferrari (his career was cut short after a crash in 1962 left him in a coma for a month), the car carries a respectable racing pedigree – having won a number of races in its day. The 250 GTO features a distinct lime-green livery and is one of 39 examples built between 1962 and 1964 selling for R78 000 apiece.
It is one of eight classic Ferraris sold over the past six weeks for a total of R1.26-billion amid high demand in the classic car market. Chris Evans, a UK radio presenter, is understood recently to have sold his Series II 250 GTO for about R234-million, making a R84.5-million profit in just two years. He is thought to have sold it to help fund a more expensive Series I.
John Collins, who runs Talacrest, a specialist Ferrari dealer in Ascot, UK, confirmed Ferraris were now extremely valuable investments.
“If someone wanted to sell their 250 GTO, I could find a buyer in 30 seconds,” he said. “A Chinese customer told me there are three things worth investing in now – diamonds, Warhols and classic Ferraris.”
Collins previously sold the Stirling Moss Ferrari in the mid-Nineties for R52-million.
Other owners of the 250 GTO include fashion designer Ralph Lauren and Pink Floyd star Nick Mason.
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