Ferrari 250 GTO sale for £20.2m

Widely reported on the web - Jon Hunt's chassis no.5095 is off to Spain..,

It appears that Jon Hunt has made £4.5m profit in 3 years on the £20.2m deal - he bought the car for £15.7m back in 2008 - but that's small change to Mr Hunt who trousered £370m when he sold Foxton's just before the economic crash.

Racecar customer - John Collins of Talacrest - has been quoted in the Telegraph on the deal:

"John Collins, chairman of classic Ferrari specialist Talacrest, confirmed the GTO's sale but refused to reveal if it was Mr Hunt's model.

But records show Mr Hunt as the current owner of 5095 - which is now thought to be on its way to Spain.

The multi-millionaire businessman declined to comment on the sale yesterday (Mon).

When it was launched in the 1960s by Enzo Ferrari, the 250 GTO came with a price-tag of a mere £6,000.

The 250 GTO was fitted with a 3-litre V12 engine developing 300bhp - meaning a 0-60mph time of 6.1 seconds and reach a top speed of 174mph.

Despite the economic downturn, the demand for a vintage Ferraris has gone through the roof with collectors regarding them as bulletproof investments.

Ascot-based Talacrest, which has been selling bluechip Ferraris for more than 30 years, had record sales in 2011.

Mr Collins said: "Wealthy people are spending a lot of money on classic Ferraris and everyone wants a GTO at the moment.

"Classic Ferraris have seen more gains than others, they're like the Picassos of the car world.

"And the 250 GTO is the golden car of its generation, show me a man who wouldn't want one.

"They are bought by people who have a love of cars and see them as an investment.

"I have bought and sold seven over the years including this model and I wish I had kept one now, but hey ho."

For more info - see the Telegraph article - here

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