The Car Collector Who A Ferrari Worth $38 Million; Car of the Century Part 2
About this episode
A fascinating dive into the world of high-stakes car collecting, featuring a detailed account of a collector's recent acquisition of a Ferrari 250 GTO for $38 million. The discussion highlights the rarity and historical significance of the GTO, including its racing pedigree and unique engineering. The collector shares insights on the buying process, the importance of condition in valuation, and the driving experience of this legendary vehicle. The episode also touches on the nuances of classic car ownership and the emotional connection to these automotive masterpieces.
The $38 Million Dollar man! Car collector David Lee paid 38 million plus for the ultra-rare White Ferrari 250 GTO. He is our guest this week. Plus we continue our conversation about the car of this century. Hannah reveals her winner!
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Ferrari 250 GTO
"...because 250 GTO to me was just way beyond like any attainable situation. I mean, people might say the cars that I have now, the supercars are unattainable or dream cars, but I did dream about those cars..."
The Ferrari 250 GTO is a famous sports car from the 1960s that is very rare and expensive. Many car enthusiasts dream of owning one because of its beauty and history in racing.
The Ferrari 250 GTO is a highly sought-after classic sports car produced in the early 1960s, known for its stunning design and racing pedigree. It is considered one of the most valuable cars in the world, with prices often exceeding $30 million at auction.
supercar
"...I mean, people might say the cars that I have now, the supercars are unattainable or dream cars, but I did dream about those cars..."
Supercars are very fast and expensive cars that are designed for high performance. They often have unique designs and are made in smaller quantities than regular cars.
A supercar is a high-performance sports car that offers exceptional speed, handling, and design. These vehicles are often produced in limited numbers and are known for their advanced technology and luxury features.
Ferrari 288 GTO
"...My 288 GTO was my high school dream car when I saw it in the Road and Track magazine. I wanted to have it, I didn't think I could really be able to have it..."
The Ferrari 288 GTO is a sports car from the 1980s that is famous for its powerful engine and unique look. It's considered a classic and is very desirable among car collectors.
The Ferrari 288 GTO is a mid-engine sports car produced in the 1980s, known for its turbocharged V8 engine and distinctive styling. It was designed for both road and racing use, making it a significant model in Ferrari's history.
short wheelbase
"...I did, and I've been looking for a long time for a 250 short wheelbase and because I thought..."
Short wheelbase means the space between the front and back wheels is smaller than usual. This can make the car handle better and feel more agile when driving.
Short wheelbase refers to a vehicle design where the distance between the front and rear axles is shorter than average, which can enhance handling and agility. In sports cars, this often contributes to a more responsive driving experience.
Pebble Beach Concours d'Elegance
"...look at the video in Pebble Beach last year, in August in Monterey, I was walking through the Ferrari lawn..."
Pebble Beach Concours d'Elegance is a big car show in California where people display and admire beautiful classic cars. It's a popular event for car lovers.
The Pebble Beach Concours d'Elegance is an annual car show held in Pebble Beach, California, showcasing some of the world's finest classic and vintage automobiles. It attracts car enthusiasts and collectors from around the globe.
auction
"as I was getting close to the auction, my people, Kevin Cohen said, hey, you know, the GTO is going to be in Las Vegas..."
An auction is a place where people can buy and sell items by offering the highest price. For cars, it's a way to find rare and valuable vehicles.
An auction is a public sale in which goods or property are sold to the highest bidder. In the automotive context, car auctions are popular for buying and selling classic and collectible vehicles.
mechanic
"I'll send my mechanic Mike out there to check out the car, see if it's how legit it is..."
A mechanic is someone who fixes cars. They help make sure cars work properly and can fix problems when they happen.
A mechanic is a professional who repairs and maintains vehicles. They are skilled in diagnosing issues and performing necessary repairs to ensure a car is safe and functional.
pre-purchase inspection
"...the smart way is always to send your guy, if you have a guy, to check it out, you know, to see how it's restored, if it's restored, see if all the parts are the kind of the original parts or the right parts on the car..."
A pre-purchase inspection is when a mechanic checks a car before you buy it to make sure it's in good shape. This way, you know if there are any problems with the car before you spend your money.
A pre-purchase inspection (PPI) is a thorough examination of a vehicle by a qualified mechanic before buying it. This process helps identify any potential issues or repairs needed, ensuring the buyer is fully informed about the car's condition.
original parts
"...see if all the parts are the kind of the original parts or the right parts on the car, see if the car starts up..."
Original parts are the same pieces that were put in the car when it was built. People like to keep these parts because they help the car stay true to how it was made originally.
Original parts refer to components that were installed in a vehicle when it was first manufactured. These parts are often preferred by collectors and enthusiasts for maintaining authenticity and value.
condition of the car
"...And that's really important because the condition of the car dictates the price. It dictates the model..."
The condition of the car means how good or bad the car is overall. It includes how well it runs, how it looks outside, and how it feels inside. This is important to know before buying a car.
The condition of the car refers to its overall state, including mechanical performance, exterior appearance, and interior quality. This assessment is crucial for determining the vehicle's value and potential repair costs.
Ferrari 250 Short Wheelbase
"...was doing very successful in all the tracks. The 250 GTO-wise so special is Ferrari at that time was the first time that they engaged the Pisa University to study..."
The Ferrari 250 Short Wheelbase is another version of the Ferrari 250 that was made for racing. It has a shorter body, which helps it handle better on the track.
The Ferrari 250 Short Wheelbase is a variant of the 250 series known for its racing success and shorter chassis, which improved handling. It is also a highly collectible model among enthusiasts and collectors.
aerodynamics
"the car, how to make it more aerodynamic, using aerodynamic to it besides the big engine and the light weights and everything."
Aerodynamics is how air flows around a car. When a car is designed to be more aerodynamic, it can go faster and use less fuel because it cuts through the air more easily.
Aerodynamics refers to the way air moves around objects, particularly vehicles. Improving a car's aerodynamics can enhance its speed and fuel efficiency by reducing drag.
wind tunnel
"But wind tunnels and everything to make the car more special, more aerodynamic, faster, better performance, which is very special."
A wind tunnel is a big machine that blows air around a model of a car. It helps designers see how the air moves, so they can make the car faster and more efficient.
A wind tunnel is a tool used to test the aerodynamic properties of vehicles. It allows engineers to observe how air flows around a model of the car, helping them design more efficient shapes.
race engine
"although this one, John Shirley brought Ferrari make a new engine, a perfectly specced out engine, Casa K, which is important, the red book in there. So it came with the race engine, that it raced in many of the races that they had in history, in period."
A race engine is a special kind of engine made for racing cars. It's built to be really powerful and fast, so the car can compete in races.
A race engine is a high-performance engine specifically designed for racing. These engines are built to provide maximum power and efficiency under extreme conditions.
original engine
"...a lot of cars don't have the original engine. A lot of cars have been crashed and rebuilt or repainted..."
An 'original engine' is the engine that came with the car when it was new. It's important for collectors because it helps prove the car's history and value.
The term 'original engine' refers to the engine that was factory-installed in a vehicle when it was first sold. Having the original engine is often important for collectors as it can significantly affect the car's value and authenticity.
race cars
"...But when you come to race cars, a totally different mentality, totally different way of looking at it..."
Race cars are cars made to go really fast in competitions. They are built differently than regular cars to help them perform better on racetracks.
Race cars are specially designed vehicles built for competitive racing. They often feature lightweight materials, high-performance engines, and advanced aerodynamics to maximize speed and handling on the track.
alloy body
"...it's an alloy car, you know, alloy body car, it's 2000 pounds, 300 horsepower, you know, and there's a lot of other parts that they have..."
An alloy body means the car is made from a special mix of metals that makes it lighter and stronger than regular metal. This helps the car go faster and handle better.
An alloy body refers to a car body made from a mixture of metals, which can provide a balance of strength and weight savings compared to traditional steel. This construction method is often used in performance and race cars to enhance speed and handling.
Triple Crown winner
"...like Graham Hill, it was one of them, the Triple Crown winner. So it's been raised by important racers..."
A Triple Crown winner is a race car driver who has won three very important races. It's a big deal in the racing world and shows they are very talented.
A Triple Crown winner in motorsport refers to a driver who has won three prestigious races: the Monaco Grand Prix, the Indianapolis 500, and the 24 Hours of Le Mans. This achievement is a significant milestone in a racer's career.
Ferrari 250
"...because, you know, I have a 250, a Lucille competition, 275 GTP 4 cam, 330 GTS, 365 GTP 4, the Jonas fighter, and a Resto Dino."
The Ferrari 250 is a famous sports car made by Ferrari, known for being fast and beautiful. It's a classic car that many people admire and collect.
The Ferrari 250 is a series of sports cars produced by Ferrari from the late 1950s to the early 1960s, known for their performance and classic design. Models like the 250 GTO are highly sought after by collectors.
Ferrari 365 GTP
"...I have a 250, a Lucille competition, 275 GTP 4 cam, 330 GTS, 365 GTP 4, the Jonas fighter, and a Resto Dino."
The Ferrari 365 GTP is a racing car from Ferrari, built for speed on the track. It's part of a series that was very successful in races.
The Ferrari 365 GTP is a race car variant of the Ferrari 365 series, known for its performance in endurance racing. It features a powerful engine and lightweight design.
Ferrari 275 GTP
"...I have a 250, a Lucille competition, 275 GTP 4 cam, 330 GTS, 365 GTP 4, the Jonas fighter, and a Resto Dino."
The Ferrari 275 GTP is another model from Ferrari, built for speed and racing. It's part of a series of cars that are very popular among car enthusiasts.
The Ferrari 275 GTP is a variant of the Ferrari 275 series, known for its racing pedigree and performance capabilities. It was designed for both road and track use.
Ferrari 330 GTS
"...I have a 250, a Lucille competition, 275 GTP 4 cam, 330 GTS, 365 GTP 4, the Jonas fighter, and a Resto Dino."
The Ferrari 330 GTS is a stylish sports car made by Ferrari, famous for its power and good looks. It's a car that many people dream of owning.
The Ferrari 330 GTS is a grand touring sports car produced by Ferrari in the 1960s, known for its elegant design and powerful V12 engine. It combines performance with luxury.
horsepower
"...because this is our body again, it's 2000 pounds, which is very light. It's 300 horsepower. Now, you know, the other thing..."
Horsepower is a way to measure how powerful an engine is. The higher the horsepower, the faster and stronger the car can be.
Horsepower is a unit of measurement for power, commonly used to quantify the output of engines. It indicates how much work an engine can perform over time, influencing a car's speed and acceleration.
disc brakes
"...it's got disc brakes, you know, the balance and the suspension, everything is, you know, it's like a race car..."
Disc brakes are a kind of brake that helps slow down a car. They work better than older types of brakes, especially when the car is going fast or when it's hot.
Disc brakes are a type of braking system that uses a disc-shaped rotor and brake pads to slow down or stop a vehicle. They are known for their better performance and heat dissipation compared to drum brakes.
gated gearbox
"...the gearbox, the gated gearbox is tremendous. The power on the car and the and the sound is tremendous..."
A gated gearbox is a special kind of manual transmission that helps drivers shift gears more easily. It has a specific pattern that you follow when changing gears, making it feel more precise and fun to drive.
A gated gearbox is a type of manual transmission that has a distinct pattern for shifting gears, often with a physical gate that guides the driver through the gear selection process. This design enhances the driving experience by providing precise control over gear changes.
Holy Grail of car collecting
"...the 250 GTO is to all car collecting the Holy Grail and the end game of collecting..."
The 'Holy Grail of car collecting' means the most desired and valuable car that collectors want to own. It's like the best of the best in the car world.
The term 'Holy Grail of car collecting' refers to a car that is considered the ultimate prize for collectors, often due to its rarity, historical significance, and desirability. The Ferrari 250 GTO is frequently cited as this ultimate car.
Ferrari SP2
"...know, it's part of the Icona series. There's SP1, SP2, and then the SP3. And it's a V12 naturally aspi..."
The Ferrari SP2 is like the SP1 but has a second seat, so you can take a friend along for the ride. It has a powerful engine and a design that mixes old-school Ferrari looks with new technology. It's talked about because it's rare and gives an exciting driving experience.
Similar to the SP1, the Ferrari SP2 is part of the Icona series and features a V12 engine, but it includes a second seat, allowing for a passenger to join in the exhilarating driving experience. This model combines modern performance with classic Ferrari styling, making it a desirable choice for collectors and enthusiasts alike. The SP2 is celebrated for its exclusivity and the thrilling experience it offers on the road.
Ferrari SP1
"... you know, it's part of the Icona series. There's SP1, SP2, and then the SP3. And it's a V12 naturally..."
The Ferrari SP1 is a special, very limited sports car made by Ferrari that doesn't have a roof, allowing for an open-air driving experience. It has a really powerful engine and is designed to look like classic Ferraris while using the latest technology. People discuss it because it's rare and represents the best of what Ferrari can do.
The Ferrari SP1 is a limited-edition supercar that is part of Ferrari's Icona series, which pays homage to the brand's classic designs while incorporating modern technology. It features a powerful V12 engine and a unique design that emphasizes open-top driving, making it a standout in Ferrari's lineup. The SP1 is significant for its exclusivity and represents the pinnacle of Ferrari's craftsmanship and performance.
BMW M3
"... Ferrari and so forth. The other one would be the F80, which is the newest, the sixth supercar that Fe..."
The BMW M3 is a fast and sporty version of a regular BMW car called the 3 Series. It's famous for being fun to drive while still being comfortable enough for daily use. People talk about it because it's a great mix of luxury and speed.
The BMW M3 is a high-performance version of the BMW 3 Series, known for its powerful engine, sporty handling, and distinctive styling. It has become an iconic model in the sports sedan segment, often praised for its balance of luxury and performance. The F80 generation, in particular, has garnered attention for its blend of everyday usability and track-ready capabilities.
F1
"...borrowing from F1 to place in this road car is also really revolutionary..."
F1 stands for Formula 1, which is a top-level car racing series. The advanced technology used in these race cars often inspires features in regular cars.
F1, or Formula 1, is the highest class of international auto racing for single-seater formula racing cars. The technology and engineering used in F1 often influence the design and performance of road cars.
Ferrari F40
"I heard it was, the rumors are saying it's kind of a redo of the F40 with gated shifter."
The Ferrari F40 is a famous sports car made by Ferrari. It was built in the late 1980s and is known for being very fast and having a unique look.
The Ferrari F40 is a legendary supercar produced by Ferrari from 1987 to 1992. It is known for its lightweight construction, turbocharged V8 engine, and iconic design, making it a favorite among car enthusiasts.
hybrid cars
"...It's people that want electric cars, people that will hybrid..."
Hybrid cars are vehicles that use both a regular engine and an electric motor. This helps them save fuel and produce less pollution, which is better for the environment.
Hybrid cars use a combination of an internal combustion engine and an electric motor to improve fuel efficiency and reduce emissions. They are becoming increasingly popular as consumers seek more environmentally friendly options.
Ferrari 430
"...The 430, the 360 challenge cars, a lot of those cars have gone up because they're still not the hybrid..."
The Ferrari 430 is another sports car from Ferrari, produced before the 458. It's known for its speed and stylish design, appealing to car lovers.
The Ferrari 430 is a sports car that was produced by Ferrari from 2004 to 2009. It features a V8 engine and is known for its performance and design, making it a popular choice among collectors.
Ferrari 360 Challenge
"...the 430, the 360 challenge cars, a lot of those cars have gone up because they're still not the hybrid..."
The Ferrari 360 Challenge is a racing version of the Ferrari 360. It's built for better performance on the racetrack compared to the regular model.
The Ferrari 360 Challenge is a variant of the Ferrari 360 designed for racing. It features enhancements for performance and handling, making it suitable for track use.
manual transmission
"...their daily driver should be for the three pedals. The thing is, as you know, a lot of young people, they don't even know how to drive stick shift right now, manual transmission."
A manual transmission is a system in cars where you have to change gears yourself using a stick and a pedal. It gives you more control over how the car drives, unlike automatic cars that do it for you.
A manual transmission is a type of gearbox that requires the driver to manually shift gears using a clutch pedal and gear stick. It offers more control over the vehicle's power and performance compared to automatic transmissions.
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