A Ferrari 250 GTO thought to be worth more than twenty million pounds has crashed during the model's fiftieth anniversary tour in France.
A Ferrari 250 GTO thought to be worth more than twenty million pounds has crashed during the model's fiftieth anniversary tour in France. According to the Daily Mail, this rare classic is owned - and was driven by - U.S. Businessman Christopher Cox. It has also been reported that his wife, Ann, sustained a broken leg during the collision at Saint- Etienne-des Guirets - and that two motorists from a second vehicle were taken to hospital.Mr Cox's Ferrari 250 GTO left the factory in April 1962 as chassis number 3445GT. It was painted bright red, but resprayed blue with a yellow stripe in 1963. It, therefore, pays homage to Swedish racing driver Ulf Norinder via his national colours. In 1976, this stunning car crashed and required considerable restoration. Mr Cox bought it in 2005, and I suspect will now have it restored to its former glory. That is something to look forward too. The Ferrari 250 GTO is an extremely rare beast. In fact, only thirty-nine of these two-door beauties were produced between 1962 and 1964. Power comes from a 3.0-litre 300bhp V12 engine that propels millionaire motorists to 62mph in around 6.1 seconds. Top speed is in the region of 174mph. That is fast, even by today's standards. At launch, this rocket ship cost £6,000 but prices have risen considerably in recent years. DJ Chris Evans, in fact, paid £12,000,000 for chassis 4675GT in 2010. It has also been reported that the Ferrari 250 GTO produced for Stirling Moss sold via a private transaction for $35,000,000. So, let us put the model's value in perspective. A new Ferrari California costs £152,116, the top-end 458 is £198,936, and motorists only pay £212,096 for a 599. Or, try the FF for £227,107. So, one of every new Ferrari could be sitting on your driveway for £790,288. Not enough? Try ten of each for £7,902,880. That is still a long way from £20,000,000, and emphasises the Ferrari 250 GTO's status. Insuring and restoring one must cost a fortune.