The story of the Ferrari 250 GTO
Among all supercars that ever saw the light of day, Ferrari 250 GTO is probably the most iconic one. Many already know it as the most expensive car ever to be sold at an auction. In addition, many classic car experts and automotive connoisseurs consider it the Holy Grail of the collectors’ world. Still, understanding what sets Ferrari 250 GTO apart from the rest and makes it so highly desirable is not that simple. Sure, it may be both fast and beautiful, but so are many of its rivals. So, to understand how this car earned its reputation, you have to dig deeper into its history. This is just what we will do in this article as we explore the story behind this automotive legend.
The history behind the Ferrari 250 GTO
Following the end of World War II, and especially by the early 60s, the US-automotive market became a fast-growing place. Needless to say, every car manufacturer wanted a piece of this action. This included several major Japanese brands, among which Nissan seemed to be the one with the most potential. At that time, the Yokohama-based manufacturer had several attempts at the US market, with their models achieving limited successes. Still, to firmly position themselves on the automotive map and in the eyes of the American buyers, Nissan really needed a car that would turn heads wherever it appeared. And among all models in their arsenal, the Fairlady Z most closely fitted the bill.
The story of the Ferrari 250 GTO starts back in the early 60s and FIA’s Grand Touring car racing series, which was extremely popular at that time. This was a highly prestigious championship, with many elite and high-end car manufacturers taking part. Needless to say, Ferrari was one of them, as they were already competing with their 250 SWB racing car. Despite being successful and highly competitive, this was also an aging vehicle.
So, to keep up with the fierce competition in the future, the Maranello manufacturer decided to replace it with a similar model, albeit extensively modernized. The new car would have the same layout as the outgoing one, with the engine at the front and the driven wheels at the rear. This may have seemed outdated in the time when mid-engine configuration became dominant among supercars, but Ferrari engineers had a different opinion. On the other hand, everything else on this car would be either revised or built from the ground up.
But just like today, every car that is going to participate in such official racing events has to pass its homologation. In simple words, this means making a certain number of road-legal versions of the would-be racer. This is where Ferrari 250 GTO comes into play, which is, just like many similar vehicles, a racing car with license plates.
How it looks
Being focused on achieving the maximum possible performance, the form of most homologation and similar competition vehicles will follow their function. But even at first glance, it is obvious this is not the case with Ferrari 250 GTO. On the outside, designers did an excellent job of achieving superb aerodynamics while not compromising on esthetics. The all-aluminum bodywork features an exceptionally long nose with distinctive air inlets at the front. The back has a built-in rear spoiler, a revolutionary feature at the time. Lastly, a long wheelbase gave enough room for designers to form elegant and sleek body lines. Or, to put it simply, this car looks like a streamlined piece of art from any angle. It is no surprise that many consider the Ferrari 250 GTO as the absolute pinnacle of automotive design.
The interior of this car, on the other hand, reflects its racing intentions and performance-orientated character. Everything in it, from the minimalistic instrument cluster to the absolute lack of upholstery, is made to fit the purpose. Yet, even with such a sparse layout, GTO’s interior still looks esthetically pleasing.
What is under the skin
For any racing car, it’s what hides under the skin that matters the most, with the engine being the most significant factor. And this is something where the racer from Maranello will not disappoint. It uses the same engine as the Ferrari 250 Testa Rossa, the car that won the 24 Hours of Le Mans three times in a row. This was a three-liter V12 unit that developed 300 horsepower and 217 pound-feet of torque. The power was sent to the rear wheels using an all-new, 5-speed manual transmission.
Other notable features include a lightweight steel-frame chassis and disc brakes all around. Another important thing was an innovative suspension setup, with an A-arm front suspension and Watt’s axle at the rear. This made the Ferrari 250 GTO very forgiving and easy to control when going through high-speed bends.
Performance and successes
Thanks to its powerful engine within a sleek ad and lightweight body, Ferrari 250 GTO offered impressive performance. With sufficient grip, it will do 0 to 60 in just under 3 seconds, and it will keep going until it reaches 175 miles per hour. These numbers are staggering even today, let alone 60 years ago. And they needed to be as such because this racing car would face fierce competition on the track. Apart from the mighty Shelby Cobra, there were also revolutionary Jaguar E-types and Austin Martin DP214, just to name a few.
The Ferrari 250 GTO had its racing debut in March 1963 at the famous 12 Hours of Sebring race. It was driven interchangeably by a pair of experienced racers, Olivier Gendebien and Phill Hill. The latter was already a racing legend as he won a Formula 1 championship with Ferrari the year before. With a capable vehicle and skillful drivers behind its wheel, Ferrari was an obvious favorite for the upcoming race, and everybody expected it to win. But nobody, including the drivers themselves, could not anticipate just how dominant this victory would be. Not only did the 250 GTO win its GT class by a considerable margin, but it was also only a few seconds behind the overall winner.
From there on, Ferrari 250 GTO went on to dominate the International Championship for GT Manufacturers for that and the following two years. By the end of its production in 1964, the list of victories this car had to its name was arms-long. Among them, winning at prestigious Tour de France two times in a row was the crown achievement.
Rise of popularity
With its beautiful styling and uncompromised performance accompanied by such notable achievements, Ferrari 250 GTO was an instant hit. But that is not to what it owes its today’s popularity, as many other similar vehicles have these qualities. Where the 250 GTO differs from its rivals is its dual personality. This car is as equally good on the road as it is at the racetrack. As a matter of fact, many believe that this was the last user-friendly race car ever built.
With a forgiving suspension and smooth gearbox, 250 GTO is easy to drive on the limit, even without a skillful Formula 1 champion behind the wheel. Even more, these cars proved to be reliable and robust. This allowed their owners to use them in historical racing events without significant fear of breaking them down.
Another thing that made it so desirable is its rarity. Although then-current FIA regulations required the manufacturers to produce 100 vehicles, Ferrari got away by making only 36 of their GTO of racers. Most of them feature the original series-one design from 1962, with only the last 3 cars having an updated series-2 design. Although these cars were built for homologation, Ferrari would not sell them to anyone who showed up with the money. Instead, all potential buyers were handpicked personally by the old man Enzo itself.
Current prices
When it was new, Ferrari 250 GTO was selling for approximately $18,000, which, adjusted for inflation, equates to $150,000. This may seem like a bargain for a racing car with the Prancing Horse on its nose. But despite its heritage and qualities, this car held only a modest value as a second-hand vehicle for some time. During the 70s, some less-than-pristine examples were even sold for less than $10,000.
Still, 250 GTOs’ market value increased at a blistering rate during the 90s. By the turn of the millennium, these cars were selling for tens of millions of dollars. The latest car to swap hands was sold at an auction back in 2018 for a breathtaking 78 million. This was by far the highest price tag for any vehicle in history. Staggering as it already is, the value of this car is likely to increase even more. According to the experts, the next 250 GTO on the auction floor will likely break the 100 million dollars barrier.
Last words
There are several reasons why the Ferrari 250 GTO is so desirable and expensive, with its looks being one of them. Its sleek lines show that aerodynamics and esthetics can go together. The performance is not bad, either, as the Ferrari 250 GTO can outrun many modern models. This is also a rare car with an impeccable racing heritage and a different story behind each example. But what makes it so unique and well-liked is its dual-purpose nature. Many enthusiasts claim that this is the last racing car that drives equally well on the track and the road.
