Ferrari could reforge the legendary 250 GTO

FERRARI looks set to follow Jaguar’s lead into the so-called ‘continuation car’ arena with a reborn version of the iconic 250 GTO, resurrecting one of the world’s most recognisable and valuable machines.

Speaking to TopGear.com, Ferrari Chairman and CEO Sergio Marchionne said the company was considering reforging one of its most important historic models in some form, but the project would need to be carefully handled.

“The answer is yes, but I struggle with the term ‘continuation car’ he said. “What Jaguar has done with the lightweight cars is clever, but reinventing the 250 is a tough gig, and living off the spoils of the past is a bad habit to get into.”

British brand Jaguar was the first manufacturer to bring one of its models out of retirement when it added six lightweight E-Types to the original run of 12 after a 51-year hiatus, followed by nine XKSS vehicles to replace a fleet that were lost in a fire in 1957.

Aston Martin joined the movement in 2016 when it started a run of 25 continuation Lightweight DB4 GTs, while Mazda has also previously offered a factory restoration (borderline remanufacturing) program for NA MX-5s.

For a reborn 250 however, Marchionne said Ferrari’s approach would likely avoid a straightforward replica, and would add something different compared with the British pioneers.

“There’s definitely a platform there, and hopefully we can show you something in the next few years.”

If it follows the format of Jaguar and Aston, the old/new Fez will be built using original plans, materials and techniques.

Whatever form the ‘new’ 250 takes it is unlikely to match the snowballing value of the 39 original examples, with the most recent sale of number 5111GT breaking all previous records at an unimaginable $US52,000,000 ($A66,164,800).

That’s a far cry from the 250 GTOs depreciation low point. From a new price of $US18,500 ($A23,500) in 1962, one example changed hands in 1969 for a very reasonable $US2500 ($A3181) or the equivalent of $33,500 in today’s money. Not a bad return on the investment if it’s still in the family.

After 57 years, it looks like the rumoured, perhaps mythical 40th Ferrari 250 GTO will, at last, become a reality.