Gold has long been considered as one of the best and most stable investments, and while it’s certainly made some people rich, right now it can officially take a back seat to certain classic cars.
While recently browsing through Reddit, we came across a thread from early December that reveals the most prized classic of them all, the Ferrari 250 GTO, has officially become worth more than its weight in gold.
At the time of the thread being published, the price of gold was $1237.48 per ounce, or $39.78 per gram. On January 2, 2019, the price of gold is $1288.60 per ounce or $41.43 per gram.
To put that into perspective, a 1962 Ferrari 250 GTO became the most expensive car ever sold at auction after fetching $48,405,000 at RM Sotheby’s Monterey sale in August.
The 250 GTO weighs approximately 880 kg (1940 lbs) or up to 950 kg (2094 lbs), depending on the source. If you take the 880 kg figure and do a little bit of math, you’ll discover that the 250 GTO is worth $55.00 per gram, significantly more than the price of gold.
Of course, not all 250 GTOs are valued at roughly $50 million, but based on current market trends, we would not surprised to see other examples trading hands for in excess of $50 million in the coming five years. That is if the market doesn’t crash, like it has in the past, sending supercar prices skydiving, though we guess the ultra-rare GTOs will still hold their value, or their owners, who certainly aren’t strapped for cash, wait until the storm is over.
Note from WSOE.Org : This content has been auto-generated from a syndicated feed.