Most Expensive Ferrari Ever? A 330 LM Is Expected To Cross the Block for Over $60 Million

We’re not playing the quantum physics ‘Schroedinger’s cat walks into a bar, and doesn’t’ joke here, but the car is and isn’t a Series I 250 GTO. Officially, the car is called – by Ferrari themselves – the 330 LM (that’s Le Mans). The 330 is the cubic-centimeter-per-cylinder denominator, which automatically translates into a four-liter engine. 330 times 12 (that’s how many pistons were in the modified Colombo) equals 3,967.44 CCs.

The car we’re talking about is chassis 3765, and it was the only 330 LM built in 1962, shortly after the 250 GTO was introduced in February. Moreover, it is the first out of two 330 LMs that are all but indistinguishable from a proper 250 GTO from which it borrowed the frame. Three four-liter berlinetta racers were built to adhere to changing FIA regulations for engine sizes.

Due to their similarity with the 250 GTOs, the trio is sometimes referred to as the four-liter GTOs. The first one built comes from a 38-year ownership with the ambition to become the priciest Ferrari ever (under-the-counter private sales don’t count in this hierarchy). Some speculate it might even challenge the Mercedes 300 SLR Uhlenhaut Coupe in terms of auction value.

That’s quite a bold statement, considering that the Mercedes-Benz Museum purchased the demigod SLR for $143 million in 2022. To add to the drama, this particular Ferrari, chassis 3765, is not even in its factory form.

Although the highly praised machine is the only Series I GTO to be raced by Scuderia Ferrari directly, it saw several modifications made to it after Enzo sold it to its first private owner in 1962 for a not-at-all-impressive $6,000.

The car raced at Le Mans but had to withdraw after seven hours due to overheating issues. The troubles began in the inaugural lap when the Ferrari banked on the sand at the end of the Mulsanne straight. The radiator took a hard punch, and the engine overheated beyond salvation.

Following this failed race, the 330 LM had its original engine replaced by a three-liter V12; the four-speed manual transmission also got kicked out of its place in favor of a five-speed. That isn’t the end of it, as the current owner of the unicorn proceeded to restore it to factory specifications after paying a modest half a million dollars for the vehicle.

That was 1985, and the buyer wanted the car returned to its four-liter glory. There was, however, a problem – namely, finding an engine. All that was available were parts – and the laborious process of finding all the pieces of the puzzle took several years. The photos show that the gated shifter has a 5+1 architecture, meaning the 3.0-liter V12 is probably attached to it.

As built, this 1962 330 LM had the V12 fitted initially to the Ferrari 400 Superamerica in 1960, except the power output was race-tuned to 390 hp instead of the 340 of the road version. But, to make the bigger engine fit in its bay, the wheelbase had to be lengthened by two inches (five centimeters), which is why purists out-rule this car (and the other 330 LM variations) from the 250 GTO club. Also, the power bulge on the hood is humpier to make way for the taller block.

Chassis 3765 is the only 330 LM assembled in 1962 and the only one with a left-hand drive configuration, atypical for the racing fashion of the era. Before its seven-hour adventure on the Circuit de la Sarthe in France’s famous 24-hour race, the car scored high at the Nurburgring 1000 km in May 1962. It took the four-liter-class victory and came second overall.

After the current proprietor bought it in ’85, the car was used as a regular office-going vehicle (and the man describes it as being rather enjoyable and easy to drive, despite its complete lack of sound-deadening materials and racing gear). It was also taken to car shows – and not without success. Winner of an FCA Platinum Award and the Coppa Bella Macchina at the Cavallino Classic; second in the GTO class at the 2011 Pebble Beach Concours d'Elegance, among 23 GTO Ferraris. Best of Show at the Amelia Island Concours d'Elegance, Blue Ribbon winner at the Meadow Brook.

After nearly four decades of single ownership, this intriguing Ferrari is going under the hammer at Sotheby's Marquee Sales of Modern Contemporary Art this November in New York. If the auction house’s $60+ million predictions are accurate, this Ferrari will take the crown as the highest-priced Prancing Horse sold publicly.

Not many details were revealed so far - click the second video to see the announcement made during the Monterey Car Week. The landing page of the link in this paragraph is about as dry as the Death Valley, but the auction house's main site is the place where the oxygen-depriving price has been announced.

View this post on Instagram

A post shared by RM Sotheby's (@rmsothebys)