Someone just paid 48 million for a Ferrari 250 GTO

Justacommeman

https://www.yahoo.com/news/someone-just-paid-48-4-133100572.html

If you added up all the most expensive US coins combined how many could you buy with that? A box of twenty? Less?

mark

Paradisefound

That's a lot of doug coins

OldEastside

Well it is RED

Steve

crazyhounddog

Too many horse blankets for me. Sounds like the buyer has more dollars than cents

COINS MAKE CENTS

I can think of a few coins I could buy with that

oih82w8

$48 Million to zero in one impact with a wall. It will probably always worth something though.

BillDugan1959

'Those whom the Gods would destroy, they first make crazy".

$48 million dollars? That's 4,800 acres+ of the best Midwestern farmland.

MilesWaits

Makes total sense, Mark. A collector coin ain’t never going to get you the chicks.
A coin though will get you in the lengthy online political discussions because you love the country you are living in.

Justacommeman

@MilesWaits said:
Makes total sense, Mark. A collector coin ain’t never going to get you the chicks.
A coin though will get you in the lengthy online political discussions because you love the country you are living in.

Need a smile button

m

ACop

Does it do sweet jumps?

WildIdea

What would be the bigger rush? Buying it, driving it, or selling it? You only go around once and setting up the kids is pointless. I’ve never met a well adjusted trust fund baby. I say go for it. There’s stuff I’m into that folks would say I’m crazy to buy, like expensive classic coins let’s say. You can’t drive a coin, just flip it over, and over.

Coinstartled

@Justacommeman said:
https://www.yahoo.com/news/someone-just-paid-48-4-133100572.html

If you added up all the most expensive US coins combined how many could you buy with that? A box of twenty? Less?

mark

Less. about ten.

Did John McCain own this auto by chance?

astrorat

The Ferrari 250 GTO holds a dear place in the hearts of the Tifosi. But ... $48M is a lot of cannolis!

My dad and I used to visit the Barrett Jackson auction in Scottsdale every January and boy did they have some gorgeous Ferraris may their way across the platform.

MrEureka

@BillDugan1959 said:
'Those whom the Gods would destroy, they first make crazy".

$48 million dollars? That's 4,800 acres+ of the best Midwestern farmland.

Or a great townhouse in NYC. Doesn't really matter. If you have $48 million for a car, you probably already have a nice place to live.

tyler267

I showed the article to my girlfriend yesterday at dinner, she told me the GTO is probably not for me because it would look out of place in the Costco parking lot. Oh well I guess I'll keep looking for a new car.

topstuf

@BillDugan1959 said:
'Those whom the Gods would destroy, they first make crazy".

$48 million dollars? That's 4,800 acres+ of the best Midwestern farmland.

But you can't trust a woman who's impressed with farmland.
She'd kill you for it. Now a car..... naaahhh... .she'd want a ride.

chumley

could have bought a nice safe Volvo and had a bucket of change left

bolivarshagnasty

Yeah, it's all relative. A person with 25 billion of net worth wouldn't think twice about a mere 48 million. I have noticed that in recent auctions on TV, that common collector cars are hammering for much less than they were a few years ago. One cannot restore for what you can now buy at auction. The really high end cars are appreciating in value. Sound like a hobby we all participate in???

RogerB

@tyler267 said:
I showed the article to my girlfriend yesterday at dinner, she told me the GTO is probably not for me because it would look out of place in the Costco parking lot. Oh well I guess I'll keep looking for a new car.

Yeah. You'd have to park diagonally across 3 spaces and then put a fence around it to avoid the carts.

PS: Do pigeons understand $48 million?

astrorat

@RogerB said:

Yeah. You'd have to park diagonally across 3 spaces and then put a fence around it to avoid the carts.

PS: Do pigeons understand $48 million?

Yes ... they do.

cmerlo1

More power to them- that is a very rare/desirable collector car. I'd rather pay $250k for a new one with air conditioning and creature comforts. I'd have to sell my house first...

Paradisefound

I want a ride.......PLEASE

@topstuf said:

@BillDugan1959 said:
'Those whom the Gods would destroy, they first make crazy".

$48 million dollars? That's 4,800 acres+ of the best Midwestern farmland.

But you can't trust a woman who's impressed with farmland.
She'd kill you for it. Now a car..... naaahhh... .she'd want a ride.

Paradisefound

This will help to keep the ding off

@RogerB said:
Yeah. You'd have to park diagonally across 3 spaces and then put a fence around it to avoid the carts.

SiriusBlack

Presumably they clean it occasionally so does that make it a Details Ferrari only?

clarkbar04

The 1968 pontiac version is much cheaper and more street friendly, so I'll stick with my "poor mans GTO".

1630Boston

Here I am test driving it before the auction

https://youtu.be/XBp9QmDFTfY

Lakesammman

There are a few avid Ferrari collectors in the Seattle area - had a parade of about 15 of them go by my house last week.

Wonder if it's coming to Seattle??

asheland

Cool car, but I'd rather have the cash.

brg5658

I'd hate to guess...

Smudge

Most people are too self involved to care what you drive.

BackroadJunkie

@OldEastside said:
Well it is RED

Steve

I have been told in no uncertain terms that a car is not a sports car unless it's red.

Thus, all my cars have been charcoal grey. If a local law enforcement official should radar a red car and my car at the same time and have to decide which to pull over, he will pull over the red one. Or the BMW/Mustang. Because they look faster.

It's happened several times, so it seems to be more than coincidence. (I drive a lot, in case my handle didn't say that.)

But It shure is a purdy car....

cameonut2011

@RogerB said:

@tyler267 said:
I showed the article to my girlfriend yesterday at dinner, she told me the GTO is probably not for me because it would look out of place in the Costco parking lot. Oh well I guess I'll keep looking for a new car.

Yeah. You'd have to park diagonally across 3 spaces and then put a fence around it to avoid the carts.

PS: Do pigeons understand $48 million?

The white circle with text in the middle probably makes a nice target from far up in the sky.

MsMorrisine

I heard it was bought with a surprise jump bid...

cameonut2011

@asheland said:
Cool car, but I'd rather have the cash.

I would say the same about seven figure coins.

Smudge

Imagine the property taxes and insurance bills on that.

Insider2

@RogerB said: "Yeah. You'd have to park diagonally across 3 spaces and then put a fence around it to avoid the carts."

LOL. In my humble experience, these cars are rarely parked UNLESS you are among friends at an event or if you can afford dings, missing "souvenirs," and jealous pea-brained vandals.

For those poor souls who can't qualify, they are given a stretch on a weekly basis on sunny days or clear nights.

PS We'll need to wait to see how the price worked out. Didn't several ultra-rare US coins sell recently for less than they cost?

RogerB

How does one even display such a vehicle except in a secure car barn? Obviously, theft is not a problem since the care is effectively unique and extremely difficult to sell to anyone with the ego to buy it. (Doubt insurance could be purchased; although it's a nice problem to have.)

BryceM

Well, I can certainly appreciate it for what it is, and I've often cast a glance at the black and yellow emblem. Still, that's an order of magnitude beyond stupid money, and that's an order of magnitude beyond what is logical.

It's just a car, and not one you'd ever drive. At that level even a little scratch on the clear coat could cost you your kneecaps.

Insider2

https://www.cavallino.com/single-post/2017/08/09/Ferrari-Challenge-Racing-Concours-in-Monterey.

There are so many Ferrari's parked around the place that after the first twenty it becomes like walking around a Nissan dealer's car lot. You rarely stop for a closer look. I believe it's called "Overload."

RogerB

AhhhhAhhh -- "1955 750 Monza" I did not realize that Chevy made a Monza in 1955. Must be unusual.

PocketArt

IDK about the box of twenty. Way beyond my realm of focus. The insurance alone on this Ferrari for a year would probably be more than my coin budget for the rest of my lifetime.

No Saudi silver spoon here...should be ultimate bragging rights for a few weeks though...in that particular circle. Saudi buyer is just a guess. Wow!

dcarr

@bolivarshagnasty said:
One cannot restore for what you can now buy at auction.

I think it has always been that way.

In other words, it has ALWAYS been cheaper to buy a collector car that has already been restored, compared to buying one that you pay to have restored. This is even more evident these days since the costs to restore a car have increased enormously in the last 20 years.

dcarr

Well, it is more useful than a 48 million dollar painting.

Crypto

Cars are my true love that one has the sounds and refinement/purity of a Stratovarius.

Insider2

This is the body style that I prefer.

https://classic-car-auctions.info/wp-content/uploads/2014/08/1962-Ferrari-250-GTO-Bonhams-1200.jpg

Twobitcollector

@Paradisefound said:
This will help to keep the ding off

@RogerB said:
Yeah. You'd have to park diagonally across 3 spaces and then put a fence around it to avoid the carts.

Not in Philly. A couple of weeks ago I got into it with a guy who parked his Mercedes across 2 handicap spaces.

Colonialcoin

I think that I will stick with my red Radio Flyer wagon! It’s got a lot of miles on it and has been well worth the money!

1Mike1

@bolivarshagnasty said:
Yeah, it's all relative. A person with 25 billion of net worth wouldn't think twice about a mere 48 million. I have noticed that in recent auctions on TV, that common collector cars are hammering for much less than they were a few years ago. One cannot restore for what you can now buy at auction. The really high end cars are appreciating in value. Sound like a hobby we all participate in???

Agree. The companies are creating some very cool affordable cars with more horse power than the older collectibles and so puts pressure on price of the less powerful antiques. It takes a special car to pull in the kind of money mentioned in the OP.

bolivarshagnasty

@1Mike1 said:

@bolivarshagnasty said:
Yeah, it's all relative. A person with 25 billion of net worth wouldn't think twice about a mere 48 million. I have noticed that in recent auctions on TV, that common collector cars are hammering for much less than they were a few years ago. One cannot restore for what you can now buy at auction. The really high end cars are appreciating in value. Sound like a hobby we all participate in???

Agree. The companies are creating some very cool affordable cars with more horse power than the older collectibles and so puts pressure on price of the less powerful antiques. It takes a special car to pull in the kind of money mentioned in the OP.

Agreed. We discussed this at our local car show this past weekend. The new cars are readily available with 500 to 800 hp and stopping power that the old cool cars never had. Throw in heated seats and steering wheel, AC, 900 watt 18 speaker sound systems, automatic everything, and it's easy to see why some have moved to the new muscle/pony cars.

Currin

@MsMorrisine said:
I heard it was bought with a surprise jump bid...

Bruce must have switched to cars.

Namvet69

Makes me miss my old 55 Chev 427 L88 with ram quads. C/gas on the street in 1967. 10.37 for the 1/4 mile. Peace Roy