Gold has always been the embodiment of wealth, partly because of its significance in jewellery, and also partly because it’s just a very expensive material – so much so that there’s even a saying that goes along the lines of “worth its weight in gold”.
While the saying is usually used figuratively to express a non-tangible value, there are actual physical things – albeit few and far in between – that are worth more than its own weight in gold, literally. One of which, is the Ferrari 250 GTO, as figured out by Reddit user, subtle_anarchist.
The Ferrari 250 GTO is often regarded as the “Holy Grail” of collectibles. Only 36 individual units were ever built (in two body styles), so there’s the rarity factor at play. Couple that with the Ferrari clout, and the fact that these cars are all featured in many iconic races in the 60s, resulted in them regularly fetching more than USD40 million at auctions worldwide.
But one particular example of the Ferrari 250 GTO was worth more than the others: chassis number 4153GT, a Series I model that was sold for a whopping USD70 million just two years ago, setting the record for the most expensive car ever sold.
According to Ferrari, the 250 GTO weighs in at just 880 kg dry. At the USD70 million price, this particular unit of the 250 GTO costs USD79.55 per gram.
And what’s the price for pure gold you ask? According to the (very descriptive) website goldprice.org, the price for a gram of gold today is USD55.84. So if the Ferrari 250 GTO is made out of pure gold, it’ll “only” cost around the region of USD49 million. Let that sink in for a moment.
Now, of course, not every single Ferrari 250 GTO is worth USD70 million. But looking at how sought after this car is, it won’t be surprising to see it going past the pure-gold-price every now and again – and eventually even surpassing the current USD70 million record. The last unit listed at the RM Sotheby’s auction was sold for USD48.4 million in 2018.
You know how gold has always been the “go-to” option for someone looking for a relatively stable investment? Well, maybe it’s time for the rare earth material to move over for classic cars like these.