Pick of the Day: 1961 Ferrari 250 GT

As you may know, when I look for my Picks of the Day I often try to find cars I feel are good deals, either bargains or cars that are somewhat overlooked.

With Monterey Car Week just around the corner I thought I would pick a car that fit in at any of the events and something that you might even be able to show at some of them. A car that offers a lot in comparison to other cars like it, and is a true representation of the marque it wears.

Today’s Pick of the Day is exactly one of these cars and while not a bargain to all, represents an excellent value in the realm it is in, a 1961 Series 1 Ferrari 250 GTE 2+2. (Click the link to view the listing)

Now among serious Ferrari collectors the 250 series tends to be the top of the heap. The cars from the 250 series also tend to be some of the most expensive Ferrari road and racing cars available, with most models changing hands for more than a million dollars, while the lone outlier is the 250 GTE 2+2.

These are real Ferrari 250 series cars, having the same basic powertrain as the much more expensive models, yet due to the fact that they are four-seat cars, they change hands for considerably less money.

From a driving perspective they offer everything that the more expensive cars do; strong period performance, styling by Pininfarina, and the sound of the Colombo designed V12 under the hood. Sure, they lack the dramatic styling of say a Lusso, SWB, or Testa Rossa, but they are not an ugly car by any means. The best part is that they offer the Ferrari 250 ownership experience for a very nice price.

The Astoria, New York dealer offering this 250 GTE describes it as a highly original matching-numbers example wearing an older repaint in its original red and retaining its original black leather interior. They call it a highly attractive example, and are candid about the fact that it has been sitting for the last couple years and would benefit from servicing at this time.

They add that this Ferrari has very presentable and highly usable paint and chrome, nice original interior that shows a beautiful patina. In addition, the car is offered with a Marcel Massini history report which documents that this 250 GTE is as it is stated to be as far as numbers and colors are concerned.

This is a perfect car to take to Monterey and use as your transportation during the week and possibly show at an event such as Concorso Italiano.

The asking price for this 250 GTE is $325,000 but be sure to get a pre-purchase inspection done to see what the car’s current needs are. There will be some initial costs associated with this car as it is a Ferrari 250 series car and one that is over 60-years-old. With any Ferrari purchase there is what I call ‘the Ferrari tax’ which is the cost after you buy it to get it up to snuff. I tell people to factor anything between $5,000-$20,000 for this depending on the specific car, but if you go into the transaction knowing that this is part of the up front cost you can budget accordingly.

With that being said, these cars are truly from the golden age of Ferrari history and offer quite a lot for the money spent.