The Ferrari 250 GT was born in 1954 and for ten years it continued to undergo developments and improvements that were above all dictated by racing experience. 1960 saw the introduction of the 2+2 GTE, the first of the four-seater Ferraris.
The 250 GTE had more room than the other versions, and yet it was a fast sports car in its own right; 240 bhp translated into a top speed of almost 150 mph, with acceleration to match. As in most Ferraris, the engine was the centerpiece: the V12 designed by Colombo was delightfully responsive and made all the right sounds.
Interestingly enough, in 1962 the price of the 250 GTE, at ₤5,000,000 was the same as that of the 250 SWB Berlinetta and the 250 SWB California Spyder: the two more expensive models were the 250 Pininfarina Cabriolet at ₤5,800,000 and the 400 Superamerica at ₤10,500,000! Despite Ferrari's initial reservations that the public might react unfavorably to a four-seater Gran Turismo, the model met with immediate success and soon represented 68% of all Ferrari road car sales.
Production ceased late in 1963, by which time 950 cars had been built. They are today admired as a classical example of the great 250 series which can nonetheless accommodate four people and be used on a regular basis, and are thus well-suited to elegant Continental touring. This being said, however, a number of GTE's are in fact actively campaigned on the tracks of Europe in a variety of historic events.
For a market place point of reference, let's take a look at chassis number 3755GTE, which was delivered new to a count in Switzerland. It subsequently went to live on the island of Jersey before being acquired by the last owner, who was UK based, in 1974. He kept a painstaking logbook which documents every item of work carried out upon the car and even every journey undertaken in it, together with all invoices and M.O.T. certificates.
The current owner purchased the car from this gentleman in 1981 and has continued the car's logbook, while bringing the mileage to approximately 10,000 km (which is provable thanks to documentation available). Work carried out by the current owner, for which there are invoices, includes the retrimming of the interior, repainting, rebuilding of the suspension and, five years ago, the rebuilding of the engine. This expenditure totals some $30,000.
With coachwork in Azure blue, and tan leather upholstery, the car was described as being in excellent general condition. It was offered at the June 1991 Coys sale at the Royal Horticultural Halls in London.
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Detailing
| Vehicle: | Ferrari 250 GTE |
S/N 3755 made $68,200 in 1991, and was a nice car, while not concours. Even at the time, this was a good price. Today a similar car, again left-hand drive, would probably make $38,750 to $46,500.
This year we had a less-than-perfect GTE in our May sale which made about $32,500, and a one-owner car at our Silverstone event, also in need, which made $40,300 with a valuable number plate.
In general, I don’t think much of GTEs – four-seater Ferraris don’t exactly blow your socks off! I can think of plenty of cars I’d rather spend $45,000 to own. Nonetheless, they do have a following, particularly in Italy and the rest of Europe, and if priced right they always sell. – Simon Kidston, Coys of Kensington
While the prices of all Ferraris have come down, the 2+2s have suffered the most. They were the last to accelerate, and the first to plummet. When the practice of creating “replica 250/500 TRs” was a profitable pastime, upwards of $50,000 was paid for ratty GTEs just to get the chassis and running gear. Today, with careful searching, it is possible to find running and driving cars in decent condition for under $30,000.
As with any “cheap” Ferrari, a thorough mechanical inspection is in order before a purchase. A complete engine and transmission rebuild can easily double your investment in the car.
However, if you are on a limited budget and want to own a true, front-engined, twelve-cylinder Ferrari, and don’t mind combining your upper-body Soloflex workout with driving your non-power-assisted car through traffic, GTEs are arguably the best and cheapest way to enter the vintage Prancing Horse arena. They will never be more affordable, and they will go up along with the market in general – although never with the velocity of their more exotic brethren. – ED.