1962 Ferrari 250 GTE

RM Open Roads February 2021
Friday, 19 February - Sunday, 28 February 2021
Sale Price
$400,000 - $725,000
Est. Range
27 February 2021
Sold Date
Lot Number
Modified restoration
RM Sotheby's
Auction House
Chassis no. 3723. Black over beige leather. 2953/320hp replacement engine, three Weber 40DC26 carburetors, AP clutch, lightened flywheel, oil cooler, high-torque starter, upgraded brakes, alternator, larger radiator, power windows, Marchal headlights and fog lights, chrome spoke Borrani wire wheels, Blaupunkt radio.

Evaluation: The original engine #3723 (internal number 388/62E) is included. Once owned by Jay Kay of the band Jamiroquai, Ferrari Classiche certified, although that is irrelevant after the nearly $300,000 in modifications, which include a replacement V-12 tuned to 320 hp and upgraded brakes. Stone-chipped nose and hood, chipped and peeled old undercoat with some superficial repainting, chipped door sills, door and hood edges. Good upholstery. Beautiful engine compartment. An expensive exercise in Ferrari one-upsmanship.

Bottom Line: The subject of a serious bidding battle, this hot rod 250 GTE was at $425,000 with 23 bids at the start of the final run. Bidding was extended six times before finally succumbing to the successful bidder’s $20,000 bump to the hammer price. The result is an endorsement of the decision to undertake the many modifications and upgrades, coming in at a price differential over a good standard 250 GTE close to the huge bundle invested in improving it. The bidders recognized the appeal and paid the price.

by Rick Carey
5 March 2021

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