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Ferrari 250 GTO may have set new sale record at $52M

Records are made to be broken, and it seems that one may have just been snapped again. An Italian website is reporting that a Ferrari 250 GTO, owned by American collector Paul Pappalardo, recently sold for $52 million.
Now, this is far from confirmed - Pappalardo responded to questions about the sale saying, "I do not confirm these things, I have no comment about!" - and if it's a private sale, it's unlikely that we'll ever know the exact amount of the transaction. If that figure is correct, though, it easily eclipses the $35 million made in a 250 GTO sale in April of 2012, as well as the $27.5-million sale of a 1967 Ferrari 275 GTB/4 NART Spider sold at RM's Monterey auctions in August.
What makes a car that had 39 examples built more valuable than one that had only 10 units produced? Racing pedigree. The 250 GTO is a racing legend, with each car having a unique provenance that is more than enough to add some serious value. According to 0-100.it, the GTO in question, 5111GT, found its first owner in French racer and winner of the 1964 24 Hours of Le Mans, Jean Guichet, back in 1963. The Frenchman used the V12-powered racer to win the GT category of the Tour de France Automobile in that same year.

Incredible French barn finds could fetch over $18M [w/video]

We all dream about taking a drive and discovering the mythical barn find of a vintage Shelby Cobra or Porsche Speedster hidden way under a sheet, totally forgotten. An upcoming auction from Artcurial in France on February 6 proves that these treasure troves still really do exist, and this might be one of the ultimate barn finds ever. Decaying away on a French estate, there was a collection of about 100 dirt-covered cars that had been undisturbed for decades, according to The Telegraph. They included all of the great European marques, like Bugatti, Porsche, Maserati, Ferrari and many more. Most of the vehicles were underneath a shed but generally exposed to the elements; however, two very special sports cars were hidden away in a garage (pictured above). In there was a 1961 Ferrari 250 GT SWB California Spider with covered headlights. It was one of just 37 made and thought to be lost. Beside the Ferrari was a 1956 Maserati A6G Gran Sport Frua. The collection belonged to Roger Baillon, a French transport magnate, according to Artcurial. He amassed this wonderful collection, but when his business fell on hard times in the '70s, Baillon sold part of the group off. These were the ones he kept, but they eventually went forgotten. Artcurial thinks that only 60 of the cars are actually in salable condition, and they cross the block during the Retromobile Salon in February. The auctioneers believe the Ferrari could sell for as much as 12 million euros (14.74 million) and the Maserati for 1.2 million euros ($1.5 million). Check out the gallery to glimpse the breadth of classics in this collection. Be sure to scroll down for a must-watch, gut-wrenching, patina-laden video showing off the collection and for Artcurial's press release about the sale. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. ??PRESS RELEASE 05.12.2014 BREAKING NEWS: ARTCURIAL DISCOVERS A FORGOTTEN TREASURE IN FRANCE - SALE FRIDAY 6 FEBRUARY 2015 - ?1961 Ferrari 250 GT SWB California Spider • Chassis 2935 • Ex Alain Delon • Baillon Collection Estimate : 9 500 000 – 12 000 000 ˆ 1956 Maserati A6G Gran Sport Frua • Chassis 2140 • Baillon Collection Estimate : 800 0000 – 1 200 000 ˆ Paris – The Collectors' Car Department at Artcurial has discovered 60 collectors' automobiles, all major marques dating from the early days of the motor car through to the 1970s.

FCA delays distribution of Ferrari shares

Even if you can't afford an actual Ferrari, soon you can own a part of the famous company thanks to its upcoming initial public offering. FCA will put 10 percent of the Prancing Horse on the market in the third quarter of this year. However to reap extra money for 2015's bottom line, the rest of the sports-car maker's stock will remain undistributed for a little longer. According to Automotive News, the strategy is quite simple to understand. FCA is holding off until the first quarter of 2016 to divvy up the remaining Ferrari stock to shareholders. By doing so, the automaker gets to claim 80 percent of the Prancing Horse's profits for its 2015 financial numbers. While FCA is already showing strong results through Q1 2015, being able to add extra cash on the balance sheet is always a plus. FCA hasn't set a specific date for the IPO, but Ferrari stock was announced to be traded in the US and possibly on a European exchange, as well. According to Automotive News, FCA currently owns 90 percent of the company, and Piero Ferrari has the remaining 10 percent, which he isn't selling. Related Video: