Historical Note: The $48M Ferrari 250 GTO Sale That Reset the Market
RM Sotherby 2023
In November 2023, a 1962 Ferrari 330 LM / 250 GTO, chassis 3765 LM, sold at RM Sotheby's in New York for $51,705,000, setting a new public auction record for a Ferrari.
This particular GTO was unique: the only factory-owned Series I GTO originally fitted with a 4.0-liter V12 engine and the sole example raced by Scuderia Ferrari at Le Mans. Its competition history includes a class win and second overall at the 1962 Nürburgring 1000 KM, driven by Mike Parkes and Lorenzo Bandini .
Market Context
The 2023 sale surpassed the previous public auction record of $48.4 million set in 2018 for another 250 GTO, reaffirming the model's status as the pinnacle of collectible Ferraris.
While private sales have reportedly reached higher figures—such as a $70 million transaction in 2018—the 2023 auction result stands as the highest publicly confirmed price for a Ferrari .
As of 2025, top-tier 250 GTOs with impeccable provenance and racing history are valued between $60 million and $75 million, depending on specific attributes and market conditions.
Why It Still Matters
The sale of chassis 3765 LM not only set a new benchmark for Ferrari auctions but also underscored the enduring appeal and investment potential of the 250 GTO.
Its combination of rarity, racing pedigree, and historical significance continues to captivate collectors and investors alike, solidifying its position as a cornerstone asset in the classic car market.
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