Thursday, 10 November 2016

Is this the world's most expensive car? Classic Ferrari goes on sale for eye-watering £45 million


John Collins, his German Shepherd, Beth, and the £45 million Ferrari
An ultra-rare classic car is set to break records after going on for sale for a cool £45 million.

The 1962 Ferrari 250 GTO, one of only 36 to be built by the Italian manufacturer, has been described as the "Holy Grail of classic cars" by audacious dealer John Collins.
Despite being more than 50 years old, the stylish blue motor is capable of 0-60mph in less than six seconds and a top speed of more than 170mph.
Since becoming only the second car to roll off the model's limited production line more than half a century ago, it has been raced at Le Mans and Sebring.
Ferrari 250 GTO.
Now it has come onto the open market for the first time in 20 years.
John Collins, who runs Ascot-based Ferrari specialist Talacrest, is selling it for more than £45 million ($55-60 million) - an unprecedented open market asking price.
It will be the ninth Ferrari 250 GTO he has sold.
Mr Collins said: "I've been looking for a 250 GTO for a while and the opportunity came up with this one, which is the second GTO built.
Ferrari 250 GTO
It is a beautiful Ferrari, the Holy Grail of classic cars, and it has a great racing history having finished sixth overall at Le Mans and first in class at Sebring.
"I have already had one offer on the car and know there will be interest. It will get you on the Ferrari 70th anniversary tour next year.
"After the US election, people are going to be looking at investing in assets and this is a lot better than a painting on the wall."
Ferrari 250 GTOs normally only change hands behind closed doors, with a small number of brokers negotiating deals between the world's richest car collectors.
It is thought to be the first time in more than 20 years a GTO has been openly marketed in the UK.
Bonhams sold a Ferrari 250 GTO at a US auction in 2014 when it went for $38 million.
The last time a GTO was auctioned before this was in 1990.
The car was then raced at the 1962 Le Mans 24-hour race where it finished third in its class and sixth overall. Between 1962 and 1965 it picked up numerous other podium places.
In 1969 it was sold for $5,400 and then again, later that year, for $11,000.
The car changed hands in 1975 when it was bought by a Mr Steve Griswold for $13,000 who restored the car before selling it in 1978 for $125,000.
Over the past 40 years it has been shown at numerous concourse events around the world and was recently on display in a museum.
With a £45 million asking price, the 250 GTO is 245 times more expensive than a brand-new Ferrari 488 and 4,500 times the price of a Ford Fiesta, Britain's most popular car.


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