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1962 Ferrari 250 GTO for sale in Germany at $64 million

Prices keep climbing for the Ferrari 250 GTO with virtually no end in sight. In 1969 one sold for just $2,500, but by the 1980s they were trading for hundreds of thousands, then millions, then tens of millions to the point that the last last year, one was reported to have changed hands at $52 million. But now there's a GTO for sale in Germany that could eclipse even that gargantuan price tag.
Ferrari made 39 examples of the 250 GTO between 1962 and 1962, and the item listing on mobile.de doesn't give much in the way of specifics as to which exactly we're looking at. But last we checked, there were only two GTOs in Germany, and the other one was silver. That leaves chassis number 3809GT, which was delivered new in '62 to Switzerland and participated in numerous endurance races and hillclimb events throughout the early 60s. 3809GT has been owned until now by one Hartmut Ibing, who bought it in 1976 when values were in the tens of thousands, not tens of millions. Given how his asset has appreciated so dramatically, and with less than 10,000 miles on the odometers over 52 years, we could understand how Ibing would want to cash out.
Of course we could be mistaken and we could be looking at an entirely different example - the vast majority were, after all, painted red and fitted with blue upholstery just like this one - but either way, we're looking at a price tag of 47.6 million euros. That's nearly $64 million at today's rates, inclusive of Germany's 19 percent VAT rate that adds a staggering $10 million in taxes to the pre-tax price of 40 million euros, which comes in under $54 million but would still be the most ever paid for a GTO (or really, just about any car ever made).

Ferrari Portofino revealed: Goodbye California, hello beautiful

The Ferrari California, in both turbo and non-turbo configurations, has been soldiering on for nearly a decade. With a base price of just over $200,000, it's the brand's entry-level model. Today, the automaker announced the car's replacement, the Ferrari Portofino. This will be the brand's entry-level GT car, slotting in below the top-dog 812 Superfast. It's both lighter and more powerful than the California T while still retaining the convertible hardtop bodystyle. The now-familiar 3.9-liter twin-turbocharged V8 rests under the Portofino's long hood. The engine sends 591 horsepower and 560 pound-feet of torque to the rear wheels through a seven-speed dual-clutch transmission. That's 39 more horsepower and 3 more pound-feet than the California T. A new engine map along with new pistons, connecting rods, intake and exhaust account for the boost. Ferrari's Variable Boost Management system limits torque in certain gears, only sending out what the wheels can handle. Ferrari says the Portofino will hit 62 mph in just 3.5 seconds, pressing along to a top speed of 199 mph. The Portofino makes use of the third generation of Ferrari's electronic rear differential. The car also comes with the F1-Trac traction control system. Combined with the Variable Boost Management, the Portofino should find adequate grip in most situations. A new generation of magnetorheological dampers helps improve ride and handling. Notably, the Portofino moves to electronically assisted power steering, following the same move in the 812 Superfast earlier this year. The car is longer, lower and wider than the outgoing model. The new chassis makes use of modern design and engineering techniques, shaving an unspecified amount of weight from the car. At 3,813 pounds, the California T is a bit of a pig. Any weight savings will be a good thing. Because the V8 sits behind the front axle, the Portofino's weight distribution is 46/54 percent front/rear. As expected, Ferrari has emphasized aerodynamic efficiency when crafting the Portofino's design. Overall, it looks like a slightly smaller 812 Superfast. If you like that car, you'll like the looks of the Portofino. The car is covered with small lips and intakes to help channel air in the most efficient and useful way possible. Look just to the side of the headlights or the deep cut that leads from the front wheels all the way along the door. The rear end does a much better job of hiding the convertible hardtop.

Italian police foil plot to snatch Enzo Ferrari's body

Italian authorities on Tuesday said they had foiled a plot to steal the body of automotive legend Enzo Ferrari. That's Enzo Ferrari the man, not Ferrari Enzo Ferrari the supercar. Ferrari died in 1988 at age 90. He founded the company that produces some of the world's fastest and most expensive cars. Police in Nuoro on the island of Sardinia told a news conference that a gang had planned to snatch the body and demand a ransom from the Ferrari family or the company, Reuters and Italian news outlets reported. Authorities said the plot was discovered during an investigation into arms and drug trafficking. Helicopters and parachute regiment officers were used to execute 34 arrest warrants. Ferrari's body is interred above ground in a family mausoleum in Modena, near the Ferrari plant at Maranello in central Italy. Gang members had allegedly conducted several inspections of the burial site to plan the operation. The Ferrari founder has been in the news a lot recently. Two movie biopics are coming out, in which Robert De Niro and Hugh Jackman will each play the racing great.Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Auto News Government/Legal Weird Car News Ferrari enzo ferrari