loader

Lot 155

2016   |   Pebble Beach Auctions 2016

1961 Ferrari 250 GTE Series I

Coachwork by Pinin Farina

SOLD $405,000

Estimate

$450,000 - $550,000| Without Reserve

Chassis

2369 GT

Engine

2369 GT

Car Highlights

One of Approximately 300 Series I GTEs Built
Desirable Early Production Features
Well-Maintained 1990s Restoration
Ideal for Shows, Tours, and FCA Events
Documented by Ferrari Historian Marcel Massini

Technical Specs

2,953 CC SOHC Type 128E V-12 Engine
Three Weber 40 DCL6 Carburetors
240 BHP at 7,000 RPM
4-Speed Manual Gearbox with Overdrive
4-Wheel Dunlop Disc Brakes
Independent A-Arm Front Suspension
Live Rear Axle with Semi-Elliptical Leaf Springs

Saleroom Addendum

  • Please note that this car is titled 1962.
Register to Bid

Lino Cattaneo, Cantu, Italy (acquired new in 1961)Howard Silverman, Villanova, Pennsylvania (acquired in 1985)Al Zemke, Bend, Oregon (acquired from the above in January 2006)DriverSource, Houston, Texas (acquired from the above circa September 2013)Private Collection, Houston, Texas (acquired from the above circa January 2014)Current Owner (acquired from the above)

Ron Spangler’s Ferrari Festival, Hershey, Pennsylvania, October 2000

When the 250 GTE was introduced in 1960, it hailed the advent of the production Ferrari four-seater, a concept that has continued to this day in models like the 612 Scaglietti and the current GTC4 Lusso. Equipped with Ferrari’s latest outside-plug engine and four-wheel Dunlop disc brakes, the GTE also wore handsome fastback coachwork by Pinin Farina that assured the continuity of Ferrari’s elegant design language. As this beautifully presented example attests, the GTE has only grown in appeal over the decades, possessing a sporting elegance rare for a 2+2 grand touring car.

According to the research of marque historian Marcel Massini, chassis no. 2369 GT was completed in February 1961, in all likelihood finished in Grigio Argento paint with a Rosso interior. The car was the 64th example of 299 Series I cars, which were distinguished by grille-mounted driving lights, three-lens taillamps, and a unique instrument panel. Delivered new to an Italian owner, the car passed through Germany before being exported to the US in the 1970s.

In 1985, the GTE was purchased by Howard Silverman of Villanova, Pennsylvania, and he retained ownership for 21 years while commissioning numerous restoration measures. Most notably, the exterior was repainted red, the interior was reupholstered with tan leather, and the mechanical systems were refreshed as needed. In this sympathetically restored state, the car was presented in October 2000 at the Ferrari Festival at Hershey, Pennsylvania.

After more than two decades of dedicated care, the 250 GTE was sold in 2006 to Ferrari enthusiast Al Zemke of Oregon, and he registered the car with tags reading “RED V12.” During this period, 2369 GT was occasionally displayed at local shows and was even mentioned in an article about Ferrari ownership in Fortune magazine. Sold to DriverSource of Houston, Texas, in 2013, the car soon passed to a respected collector in the Houston area.

Still displaying the benefits of the well-executed 1990s restoration, chassis 2369 GT is a capable driver that can be enjoyed, yet it remains very presentable and should be welcomed at local shows and Ferrari events. The desirable 128E motor affords relatively simple maintenance thanks to the outside-plug configuration, and the handsome Pinin Farina coachwork offers elegant first-series styling cues. Well documented and maintained, claiming a limited chain of owners and currently displaying less than 60,000 km, this 250 GTE would perfectly complement any collection as the consummate Italian grand tourer.