Classic 1962 Ferrari 250 GTO Jun 1, 2017 by Cedric (Driver Weekly)
Whether you are just an interested enthusiast or a lucky collector, the 1962 Ferrari 250 GTO is the Holy Grail of Ferrari classic cars. Before you get too excited about potentially buying this model, however, know that this is among the more expensive classic vehicles. A 1962 250 GTO Berlinetta was sold for $38.1 million in 2014, breaking records, and late last year, one went on sale for $75 million. Let’s find out why they are so popular and expensive.
Why It’s Loved
The 1962 Ferrari 250 GTO was the first model year of this vehicle, and it is perhaps the most sought-after collector’s car. In addition to the blistering power found on other Ferraris, this one is also beautifully engineered. Enthusiasts consider the 250 GTO to have the perfect balance of every motoring attribute, including speed, power, styling, exclusivity, engineering, and championship pedigree. It was produced for homologation requirements to enter the FIA Group Three Grand Touring Car racing series and first hit the track at the 12 Hours of Sebring in the hands of Phil Hill, Formula One World Driving Champion, in 1962.
The 250 GTO was designed by Sergio Scaglietti and Giotto Bizzarrini and would become the benchmark other GT sports cars hoped to meet. The engine was mounted in front, sitting under the long hood that took up over a third of the Ferrari’s length. The nose remained simple, featuring round headlamps and an oval grille, while the bulged hood and sculpted fenders created an elegant coke bottle design. The rear is taken up by huge fenders to contrast with the almost flat trunk lid and rear glass. There is, of course, a rear spoiler and the trademark rear fascia with its shaved-off design. To make these models even more prestigious, many had minor differences, such as either two or three fender grilles.
Interior styling focuses on racing instead of features. It is so simple that you won’t even find a speedometer on the instrument panel. This model was made for racing, not road travel, so the 1962 250 GTO didn’t have a roof headliner, carpeting, or leather upholstery. It remained simple with stripped door panels, exposed tubular space frames, and cloth seats. The simple steering wheel has three metal spokes and a wooden frame.
Under the Hood
The drivetrain in the 1962 Ferrari 250 GTO is the 3.0-liter V12 that was also found on the 250 Testa Rossa. It was reliable and delivered 302 horsepower and 246 pound-feet of torque. This engine lets the Ferrari get up to 60 mph from zero in just 5.4 seconds, reach speeds of 174 mph, and finish a quarter mile in only 13.1 seconds. The transmission was a new 5-speed manual that had Porsche-type synchromesh. Ferrari created this model for racing, and it was a good decision as it finished second overall in its very first race before going on to win numerous races. One of the last front-mounted sports cars that remained competitive on the racing circuit, the Ferrari 250 GTO was eventually replaced by new breeds of race cars—but it never lost its timeless sense of style, prestige, and wonder in the hands of dedicated enthusiasts.