Last month, Bloomberg News revealed a classic car transaction had been breaking the record. A Ferrari 250 GT, released in 1963, had been sold at a very high price, $52 million or £32 million. Compared with the price when the car was launched, about £6,000, it rose about 533,233.33 percent. That is so fantastic.
The 1963 Ferrari 250 GT was bought in 1974 by Paul Pappalardo, a car collector, who lived in Connecticut. Recently, it was purchased by unknown buyer. The transaction was done secretly. The price and the sale of Ferrari GTO were unveiled by three independent traders.
The car, with chassis number 5111, was one of the only 36 cars that manufactured between 1962 and 1964. Ferrari 250 GTO was rather special, including its success on 1963 Tour de France competition with Jean Guichet on behind of the wheel-drive. Besides that, the car also took part on Silverstone and Le Mans Classic race. This model was built to participate in GT racing. Ferrari 250 GTO was equipped with a 3 L V12 engine. With this engine, the car could get power 300 horsepower. Just need 6.1 seconds, the car could reach 60 mph. Ferrari hit its top speed at 174 mph.
Compared with last year purchase, the value of Ferrari 250 GTO had rose up until 49 percent. The apple-green Ferrari car, belong to Stirling Moss, was sold on $32 million. Another story, Jon Hunt, a Foxtons estate agent owner, traded his car on £20.2 million on February 2012. Looking at the car’s record, winning the race competition and its limited edition, just 36 cars produced in this world, no wonder that the car has a high value, especially for classic car’s fans. By belonging the car, the buyer will have a great satisfaction and become an excellent investment.