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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.

Ferrari names new F1 car F138

Don't call it the F150. Ferrari has officially announced it will name its newest Formula One car the F138. The machine is the 59th car Ferrari has built to compete in F1, and it's also the last of the company's F1 efforts to rely on a high-strung V8 for propulsion. F1 rules have changed for next year, forcing competitors to use smaller cylinder counts to get around the track. Ferrari has already said it will use a 1.6-liter turbocharged V6 to do its dirty work. That moves brings an end to the eight-year reign the V8 enjoyed.
Ferrari isn't saying much more about the 2013 car, and the only image we have to go on at the moment is the logo you see above. Stay tuned for more information, and in the interim, be sure to check out the painfully brief press release below.

1971 Ferrari 365 GTB/4 Daytona could be world's first great 'condo find' [w/video]

Barn finds are the absinthe of the collector car world right now. They're highly intoxicating and a bit of the 'flavor of the month.' An actual barn isn't necessary, just some form of out-of-the-way long-term storage that involves a car being out of circulation for a long period of time, remaining complete with the time-capsule-like detritus of their slumber-yellowed newspapers, vintage eight-tracks or real pay dirt like a telex printout from Howard Hughes or a receipt from the Playboy Club. RM Auctions has just announced perhaps the first 'condo find' in a 1971 Ferrari 365 GTB/4 Daytona coupe that had been stored in a Toronto condominium building for a quarter century. Like any good barn find, this Ferrari is still covered in a layer of thick dust (the removal of which would likely devalue the car considerably) and still has a cartridge entitled "Disco Rock" shoved in its original eight-track player. And while the one and only owner's taste in music may have been questionable, his taste in cars wasn't. The Daytona was the last front-engine V12 two-seater Ferrari produced during the so-called Enzo-era, when founder Enzo Ferrari was still in command of the company. With its 172 mph top speed, a Daytona was famously used by Dan Gurney and Brock Yates in setting a coast-to-coast record of 35 hours and 54 minutes to win the first Cannonball Baker Sea-to-Shining-Sea Memorial Trophy Dash in 1971. An impulse trip to the Geneva Motor Show in the same year by a Toronto businessman saw him purchase the Daytona where he spent a month touring Europe before sending the car back to Canada on the Queen Elizabeth II. He drove it for eighteen years and put a whopping 90,000 kilometers – 56,000 miles – on the car prior to putting the car up on blocks in a condo garage before a trip to Asia that he anticipated would last just six months. The car remained in that spot until November 14, 2014. The car that originally sold for $18,000 in Geneva, Switzerland in 1971 is expected to bring in excess of $600,000 at RM Auction's Amelia Island sale in March. Carwash not included. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 1971 Ferrari 365 GTB/4 Daytona Berlinetta Chassis no. 14385 Body no.