What determines a good gift? Thoughtfulness? Value? Rarity? Usefulness? There are a lot of factors that go into what constitutes the ultimate gift. So, if the ultimate gift was embodied in a car, what would it be? Automotive history is filled with exemplary cars, but because of the diversity of options, it can be difficult to get a gift that is great for everyone. We all have our own opinions about what makes a great car, so how could we possibly pick one single car that is the “ultimate Christmas gift”?
One word: liquidity.
For a vehicle to have liquidity it must be able to be sold relatively easily in a short period of time. That requires a fair bit of demand, but demand in and of itself doesn’t determine value. A vehicle must also be rare. Low supply plus high demand equals expensive car.
Now, selling an expensive car in a short period of time can be quite difficult unless that vehicle is so rare and in demand that everyone who has enough money to buy one will want to.
What vehicle is expensive, in demand, and rare? If you guessed the Ferrari 250 GTO, then you would be right.
You Can’t Spell GOAT Without GTO
The 250 GTO was a GT car produced between 1962 and 1964 for FIA’s Group 3 Grand Touring category. It was a road-legal racing car that, as Ferrari puts it, “was the car that summed up Ferrari philosophy best”. It boasted a 300hp V12 engine that put out 102hp per liter and had a top speed of 174mph. Performance aside, the car itself is beautiful. The lines that make up the Berlinetta (little saloon) body are, and there’s no other word for it, sexy. This is the pinnacle of GT design, and that is reflected in how much it costs to own one of these astonishing vehicles.
In June 2018, a 1963 250 GTO sold for $70 million. That same year a ’62 GTO sold for $48.8 million at auction. The history of the 250 GTO is a tumultuous one, and maybe it’s that very history that makes it so valuable, but it’s hard to argue with that kind of money. The Ferrari 250 GTO is the ultimate Christmas gift because it is the most valuable vehicle of all time, with maybe the exception of Karl Benz’s first Moterwagen. That value means whoever ends up being gifted the GTO either gets to keep the pinnacle of automotive manufacturing or sell it for $70 million and buy whatever else they want.
My suggestion would be that they keep it.