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Lot 105

2019   |   Scottsdale Auctions 2019

1961 Ferrari 250 GTE Series I

Coachwork by Pininfarina

SOLD $313,000

Estimate

$300,000 - $400,000

Chassis

2475 GT

Engine

2475

Car Highlights

One of Only 299 Series I 250 GTEs Built
Over $30,000 in Recent Mechanical Work by Ferrari Specialists
Documented by Ferrari Historian Marcel Massini
Beautiful Pininfarina Design with 2+2 Practicality
Accompanied by Extensive Records, Factory Sales Brochure, and Factory Service and Operating Handbook

Technical Specs

2,953 CC SOHC Tipo 128F V-12 Engine
Three Weber Carburetors
240 BHP at 7,000 RPM
4-Speed Manual Gearbox with Overdrive
4-Wheel Dunlop Disc Brakes
Front Independent A-Arm Suspension with Coil Springs
Rear Rigid Axle with Parallel Trailing Arms and Semi-Elliptical Leaf-Spring Suspension

Saleroom Addendum

Please note that online bidding is not available for this vehicle.

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Maria del Giglio De Sangno, Rome, Italy (acquired new in 1961)James W. Locke, Mequon, Wisconsin (acquired in 1987)Judith M. Locke, Longwood, Florida (acquired circa 1991)Steven R. Seiter, New York, New York (acquired in 1998)Current Owner (acquired in 2012)

Italian Car Day, Atlanta, Georgia, 2016 (Best Ferrari Award)Festival of Speed, Atlanta, Georgia, 2017 (Ferrari of Atlanta Award)

The Ferrari 250 GTE debuted at the 1960 Paris Auto Show, delighting those in attendance with its beautiful styling and race-bred V-12 engine. The distinctive Pininfarina fastback roofline cleverly concealed two rear seats, offering space and luxury as Ferrari’s first 2+2 configuration. Buyers enjoyed the grand touring power and comfort, making the GTE the top-selling Ferrari of the period, despite the then-lofty $13,000 price when new.

According to an accompanying report by Ferrari historian Marcel Massini, this particular Series I 250 GTE was completed at Carrozzeria Pininfarina and delivered in April 1961 in Rome to its first owner, Mrs. Maria del Giglio De Sangno. In 1985, the car was imported to the US and, two years later, was acquired by James Locke who, in 1989, would complete a ground-up restoration in Rosso Corsa with tan leather interior. It would remain with either James or Judith Locke until 1998, when Steven Seiter purchased the car, enlisting Exoticars of New Jersey to perform additional mechanical work, including a comprehensive suspension rebuild, brake work, and minor electrical work as needed.

In 2012, the GTE was sold to the current owner who, four years later, had Ferrari expert Ron Reineke of Sports Car Service of Tucker, Georgia, perform engine work, including cam cover gaskets, carburetor and valve adjustment, timing cover gasket, cam roller pin, and installing a new accessory belt drive shaft. The brakes were also rebuilt, including the booster and calipers. Invoices from 2016 through 2018 outline further engine and cosmetic work, collectively totaling approximately $30,000.

Today, this GTE with its matching-numbers engine, presents as an attractive older restoration. The recently polished Borrani wheels, lustrous chrome, polished trim, and emblems combine to create a cohesive visual presentation. The magnificent V-12 is finished with reverence to factory specifications and a custom-stitched, diamond-patterned hood pad was recently installed. Included with the sale are a large notebook of service records dating to the late 1980s, a factory sales brochure, factory service and operating handbook, 2011 Marcel Massini history report, jack, and two spare mufflers.

Beautiful Pininfarina coachwork, V-12 power, and ample cabin room splendidly converge in the Ferrari 250 GTE. This example presents a unique opportunity for casual driving, local shows, and as a testament to the craftsmanship and artistry of a classic Ferrari.