1958 Ferrari 250 GT Cabriolet Sells for Five Million at Auction

Many consider the most elegant open GT Ferrari of the 1950s, the 250 GT Cabriolet Series 1 by Pinin Farina. With only forty units built, this rare matching number example just sold at RM Sothbey’s auction for $4,986,579 (EUR 4,420,625).

Despite success on the track, the luxury Italian auto manufacturer founder Enzo Ferrari realized that its racing focus needed to be financially sustained; as a result, the company began to emphasize the sales of its road cars and the significant income they represented.

Ferrari’s famous 250 model platform served as the basis of many notable roadgoing models from 1952 onwards, each characterized by the 3.0-liter V-12 engine designed by Gioacchino Colombo. 

The 250 GT Cabriolet Series I was launched to capitalize on the popularity of open-top motoring, enlisting the acclaimed design and coachbuilding house Pinin Farina to fine-tune the shape into the cabriolet form—all in the interest of raising funds to support Ferrari’s racing endeavors

Pinin Farina’s resulting design exuded sophistication, with smooth and unobstructed lines defined by closed headlights and taillights cleverly packaged into the rear fins. Making the GT cabriolet one of the most sought-after Ferraris. 

Timeline: 1958 Ferrari 250 GT Chassis Number 0849 Cabriolet Series I by Pinin Farina

• The cabriolet’s chassis was sent to the Carrozzeria Pinin Farina plant in Turin in January 1958.
• The same month the rear axle’s construction was completed.
• The engine and gearbox were completed in April 1958. 
• Finished initially in Bianco over a Turchese Connolly leather interior in May 1958, chassis number 0849 GT was the 23rd to leave the Ferrari factory.
• It was subsequently sold to its first owner in Lodi, near Milan, for 5.7 million Italian lire. ($3,322 US).

Slideshow: 1958 Ferrari 250 GT Cabriolet Series I by Pinin Farina. All photos courtesy of RM Sotheby’s