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Lot 57

2015   |   Pebble Beach Auctions 2015

1961 Ferrari 250 GTE Series 1

Coachwork by Pinin Farina

SOLD $418,000

Estimate

$350,000 - $450,000| Without Reserve

Chassis

2927 GT

Engine

2927

Car Highlights

One of Only 299 Series I 250 GTEs Built
Long-Term Texas Car with Three Owners from New
Never Restored and Largely Original Throughout
Offered with Books, Tools, and Rich History File
Documented by Ferrari Historian Marcel Massini

Technical Specs

2,953 CC SOHC Tipo 128F V-12 Engine
Triple Weber 40 DCL Carburetors
240 BHP at 7,000 RPM
4-Speed Manual Gearbox with Overdrive
4-Wheel Dunlop Disc Brakes
Independent Front Suspension with Wishbones and Coil-Over Shock Absorbers
Live Rear Axle with Semi-Elliptical Leaf Springs with Telescopic Shock Absorbers
Register to Bid

Bobby M. Burns, Wichita Falls, Texas (acquired new in August 1962 via Otto Zipper Motors)Lonny D. Morrison, Wichita Falls, Texas (acquired from the Burns Estate in August 1974)Current Owner (acquired from the above)

Debuted as the vehicle assigned to the track marshal for the 1960 24 Hours of Le Mans, the 250 GTE was an immediate commercial success as Ferrari’s first series-produced 2+2 model. Despite its luxurious four-passenger coachwork, the 250 GTE was pure Ferrari, with near-perfect weight distribution and excellent handling. The GTE’s thoroughbred Colombo-derived V-12 engine delivered 240 bhp at 7,000 rpm, mated to a full synchromesh four-speed manual gearbox with Laycock overdrive. Race-bred Dunlop four-wheel disc brakes were a Ferrari road car first.

Production of the 250 GTE spanned 1960–1963; Ferrari built 954 along three distinct series, beginning with 299 Series I cars, that can be identified by their grille-mounted driving lights, three-light taillamps, and attractive dashboard layout. Among this desirable series of 250 GTEs is 2927 GT – a wonderfully original and unrestored example never before offered for public sale.

Built in November 1961, this 250 GTE was originally delivered to California. While first intended for a Mr. Levitt, Otto Zipper Motors in Beverly Hills sold 2927 GT new to Bobby M. Burns of Wichita Falls, Texas, who requested that his new Ferrari be painted red before being delivered. Following Mr. Burns’ passing, the GTE was sold by his estate in August 1974 to second owner Lonny D. Morrison, a lawyer who also resided in Wichita Falls.

As evidenced by invoices, parts orders, and correspondence during Mr. Morrison’s ownership of the car, 2927 GT was last road-registered in 1979 and has been kept in static storage since. Offered in as-found condition, the GTE retains its matching-numbers engine, many rare original components, and its factory data tags. The coachwork displays very nice panel fit; also, thanks to its long-term Texas ownership, the GTE has enjoyed the benefits of a dry climate. The interior appears largely undisturbed and, though the leather is dry and cracking in areas, it remains quite presentable with the possibility of preservation.

Included with the vehicle are the owner’s handbook and dealer directory in their pouch, a tool roll, jack assembly, a Pirelli fan belt within its original packaging, 1970s Texas license plates, and more. A fascinating dossier provides a window into the lifetime of this GTE and its two previous owners, including invoices, parts orders, correspondence, the original Bill of Sale from Otto Zipper, copies of the Texas titles issued to Messrs. Burns and Morrison, and a copy of the report compiled on the car by noted Ferrari historian Marcel Massini. Easily one of the most captivating classic V-12 Ferrari GTs we have offered in recent memory, this time-capsule Series I GTE offers many great possibilities for an astute buyer who appreciates originality.