Yahoo Autos The Road & Track Guide to Buying a Ferrari 250 GTO
As one of America's oldest car enthusiast magazines, Road & Track gets a surprising number of letters regarding vintage Ferraris. And although the correct synchronization and tuning of three to six Weber carburetors seems to be the most frequently asked question, every now and then, we get readers on the verge of buying the car that, when new, could only be sold to customers personally approved by Enzo Ferrari himself: A 1962 to 1964 250 GTO.
Here's the most recent such letter:
Dear Road & Track,
I'm a humble and much-respected billionaire, and although life has been kind to me in general, I'm getting rather annoyed by the fact that I'm forced to keep buying lakefront property in northern Italy, purely to have enough wall space to hang my ever-growing collection of Picassos. I have no doubt that this madness has to stop soon, but the good news is that all my new villas came with ample garage space.
Having recently read on Bloomberg that a red 1962 Ferrari 250 GTO will be auctioned in August at Pebble Beach for an estimated $45 million or more, I felt obligated to ask for your expert opinion. After all, wasn't it just last year when another 1963 version sold for $70 million in a private transaction? If I end up buying the bargain Ferrari in California in August, what should be my next step? I trust you'll have the correct answer to this utterly puzzling question.
Sincerely,
Jonathan Spamalot
Dear Jonathan, I believe we do! When a car like #3413GT, the third GTO off the line, comes up for sale, and you decide to pay your body weight in gold for it, there can be only two ways forward.
Option 1: Going the Lord's way
Lord Bamford, famed for his role in the British construction equipment manufacturer JCB, is the only guy in the world with two GTOs in his stable. His Series II, #4399GT is very similar to the car that will be offered later this summer. Delivered in May, 1963, "APB1" was re-bodied by Scaglietti late that year in the style of the 1964 cars, only to continue racing until October of 1965.
Meanwhile, the car up for grabs, #3413GT is the third GTO built from 1962, which completed a total of 20 races in period, also getting a Series II body from Carrozzeria Scaglietti in 1964.
And since Lord Bamford has been racing his 1969 purchase since the Goodwood Revival's re-launch in 1998, we can only advise you to do the same. Especially knowing how #3413GT isn't new to vintage racing either.
If you can't view the video above, watch it here on YouTube.
And if the going gets rough and your investment ends up in dire need of some delicate body repairs, at least you'll know who to ask for recommendations on fourth-generation Italian panel-beaters.
Option 2: Spend more to make more
Let's face it: The only advice we'll ever give you is to race your racing car. Because, as mentioned just now, it's a racing car. But we also see your problem. It's a $45 million, or perhaps $70 million, or maybe $∞ million racing car, and since you're a "self-made" billionaire, you understand the value of those dollars. The good news is, there's a solution!
Let's say you manage to buy #3413GT for $44,999,999. Because time is precious and hand-hammering aluminum is a very labor-intensive procedure, you shouldn't hesitate to spend a few million more to buy a period 250 GT/E as well. Pininfarina built almost a thousand of those 2+2s, so procuring one shouldn't cost more than a large order of your favorite bubbly.
With #3413GT stored in your living room until it matures into a $80 million piece of oil-leaking perfection, you can contact a company like Holland's Roelofs Engineering, who will have no problem turning your GT/E into a full-on Series II GTO clone. Once that's done, you can take your new 1963 Ferrari "GTO" to Goodwood, and race it against the big boys:
If you can't view the video above, watch it here on YouTube.
Are you worried about authenticity? Don't be! In the 1960s, Ferrari couldn't care less which body went where. A GT/E doesn't bother Lord March as long as it goes sideways around his circuit like "AM-65-96" does, so it shouldn't bother you! And the best thing? Even if you end up crashing your GT/E-based GTO-clone, the appreciation on your well-preserved #3413GT Series II will pay for the whole endeavor in less than a decade.
Now, about balancing those Webers? We at Road & Track wish you the best of luck. We really do.
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