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The Ferrari 250 GTO is a GT car produced by Ferrari from 1962 to 1964 for homologation into the FIA's Group 3 Grand Touring Car category. It was powered by Ferrari's Tipo 168/62 Colombo V12 engine. The "250" in its name denotes the displacement in cubic centimeters of each of its cylinders; "GTO" stands for Gran Turismo Omologato, Italian for "Grand Touring Homologated." Just 36 of the 250 GTOs were manufactured between 1962 and 1964. This includes 33 cars with 1962-63 bodywork (Series I) and three with 1964 (Series II) bodywork similar to the Ferrari 250 LM. Four of the older 1962-1963 (Series I) cars were updated in 1964 with Series II bodies. When new, the 250 GTO cost $18,000 in the United States, with buyers personally approved by Enzo Ferrari and his dealer for North America, Luigi Chinetti.[citation needed] This model has since become highly desired by automobile collectors and sales have repeatedly set price records. The current record for world's most expensive Ferrari was set in June 2018 when a 1963 250 GTO (chassis 4153GT) was sold in a private sale for $70 million. In 2004, Sports Car International placed the 250 GTO eighth on a list of Top Sports Cars of the 1960s, and nominated it the top sports car of all time. Similarly, Motor Trend Classic placed the 250 GTO first on a list of the "Greatest Ferraris of All Time." Popular Mechanics named it the "Hottest Car of All Time."
