Ferrari 330 LM / 250 GTO becomes most expensive Ferrari ever sold

Published: 14 November 2023 Updated: 14 November 2023

► Ferrari 330 LM/250 GTO racer becomes second most-expensive car sold 
► Fetches $51.7m at auction
► Top price for a Ferrari; second only to Merc 300 SLR

A 1962 Ferrari 250 GTO Series 1 Racer – the only one of its kind to race as a factory-campaigned car – has sold at auction for a staggering $51.7 million. Though it didn’t quite hit its pre-auction estimate of $60 million, this figure is enough to make it the second most-expensive car ever sold at auction, easily outstripping works by Picasso, Dali and Monet that were in the same sale.

The 1962 Ferrari 330 LM/250 GTO came to market after nearly four decades in private ownership. This 330 LM is the racing derivative of the 250 GTO stable and was the only example owned by the Scuderia factory team.

As these pictures show, the racing GTO is indeed a thing of rare beauty – and that, along with its sky-high pre-sale estimate meant it was put into auction at RM Sotheby’s New York Sale of Contemporary and Modern Art, rather than a specific motoring auction.

The Scuderia’s Ferrari 250 GTO at auction: the pedigree

Chassis 3765 has a special provenance, with a class win and second place at the 1962 Nurburgring 1000km and factory entries at Le Mans in the same year, plus entries at the 1965 Sicilian Hillclimb Championship.

The 330 LM was closely related to the 250 GTO and took its name from its endeavours at La Sarthe. The 4.0-litre V12 developed 385bhp at 7500rpm and this example is a regular at concours events, coming second in the 2011 Pebble Beach event among 23 GTOs.

‘The 1962 Ferrari GTO we’re bringing to market is more than a classic; it’s a legend,’ said Gord Duff, global head of auctions at RM Sotheby’s. ‘Being the only series 1 GTO to ever race as a factory-campaigned car, it represents an unparalleled piece of automotive history. 

‘Its appeal transcends the automotive sphere and reaches every kind of collector.

‘This is the one the car that collectors can only dream of acquiring and we’re thrilled to be able to provide someone the chance to make a dream come true. To me, there is no better place to showcase this automotive icon than New York City at Sotheby’s.’

By Tim Pollard

Group digital editorial director, car news magnet, crafter of words