The one and only 1962 Ferrari 330 LM / 250 GTO by Scaglietti in the world has sold at auction for $51,705,000. The hammer fell at $47 million but the final price jumps to over $51 million when accounting for all the fees associated with the sale. Pre-auction estimates had indicated that the car could sell for over $60 million.
There is no Ferrari more famous than the 250 GTO. The limited-run model enjoyed a wildly successful racing career but in 1962, the organizer of the 24 Hours of Le Mans, the ACO, introduced a new class that stipulated vehicles needed to be equipped with larger 4.0-liter engines. This particular example, chassis 3765, was modified and equipped with a new 4.0-liter engine and became the only GTO Tipo from 1962 to be campaigned by Scuderia Ferrari itself.
Read: An Extraordinary 1962 Ferrari 330 LM Could Sell For Over $60 Million In November
For the most part, it is similar to other 250 GTOs but it is considered a cross between the 250 GTO and the 330 LM as the larger V12 engine necessitated the fitment of a bespoke floor plan. It competed at Le Mans in 1962 but slid into a sand bank after the brakes locked up and dropped down to 53rd place. Co-driver Lorenzo Bandini got back into the race but overheating issues caused by a blockage in the radiator forced the team to retire the car on lap 56.
With its racing duties fulfilled, the car was sold to a private buyer who swiftly sent it back to the Ferrari factory where it was converted back to regular 250 GTO specification. It was at this time it was equipped with the 3.0-liter V12 it still has to this day alongside a five-speed manual transmission. The car was raced on a handful of occasions after its conversion before it was sold and exported to the U.S. in 1967.
The former chairman of the Ferrari Club of America, Fred Leydorf, purchased the car in 1974 and retained ownership of it until 1985 when it was sold to the individual who tasked RM Sotheby’s with selling it last weekend.
