THE FERRARI 250 GT LUSSO MARKET – BUY NOW OR WAIT?

It has become something of a tradition to use Monterey Car Week as a barometer for the premium and luxury collector-car market. On the surface, the 2026 figures look like a triumph: total auction sales of $755.6 million, 853 of 1,124 lots sold and a sell-through rate of 76 percent – making it the strongest Monterey auction week on record, compared with $432.8 million the previous year (Hagerty).

However, the record was not driven primarily by traditional blue-chip classics but by modern exceptional cars: an F50 at $14.6 million, a 288 GTO at $11.6 million and an F40 at $8.4 million.

So where does that leave a traditional blue-chip Ferrari such as the 250 GT Lusso?

Three Ferrari 250 GT Lussos, Two Sales and a $380,000 Difference

The Ferrari 250 GT/L Berlinetta Lusso appeared at three of Monterey’s established auction houses this year, with estimates spanning a range of some $700,000. Two of the three cars sold. The difference between their results was considerable.

An attempt to explain why.

The Three Ferrari 250 GT Lussos at Monterey 2026

The Mecum car was Ferrari Classiche certified, matching numbers, finished in its factory colours and had undergone a bare-metal restoration in 2014 at a reported cost of around $600,000.

The Gooding car was also matching numbers, although its Classiche certification was still pending. Its colour had been changed from the original Azzurro to Amaranto.

The RM Sotheby’s car had already appeared on the market several times since 2024 and once again failed to sell, despite having a Red Book.

We analysed all publicly documented Lusso market appearances between August 2023 and August 2026: 27 appearances, 17 sales with published prices and nine no-sales.

That corresponds to a sell-through rate of around 63 percent.

Some of the key transactions:

• $3,300,000 – Chassis 5593 GT, Ferrari Classiche certified, sold without reserve from a collection, Mecum Kissimmee, January 2026 (k500).
• $1,765,000 – Chassis 5127 GT, freshly restored, Gooding Christie’s Amelia Island, March 2026 (Gooding Christie’s).
• €1,380,000 – Chassis 4439, Ferrari Classiche Red Book, from the Bernard Fornas Collection, Bonhams Zoute, October 2025 (Hagerty).
• €1,242,500 – Chassis 4837 GT, Ferrari Classiche certified, Gooding Christie’s Rétromobile, January 2026 (Gooding Christie’s).
• €1,187,200 – Chassis 5217 GT, matching numbers, restored by Modena Motorsport, Artcurial, June 2025 (Artcurial).
• $907,000 – Chassis 5521 GT, restoration project, RM Sotheby’s Monterey, August 2023 (RM Sotheby’s).

Gooding sold Chassis 4837 GT, Ferrari Classiche certified and with around €284,000 reportedly invested in restoration work at Ferrari Classiche, for approximately €1.24 million. At the same time, Chassis 5127 GT achieved $1.76 million following a three-year comprehensive restoration.

The $3.3 million result for Chassis 5593 GT – a comparable car with a Red Book, the correct Grigio Argento over red leather colour combination and collector provenance – represents, in our view, an emotionally driven outlier. It also demonstrates just how individual collectors’ preferences, and consequently their willingness to pay, have become.

Expert View: Not Cheaper, but More Selective

In our view, the Lusso has not lost its position as a blue-chip Ferrari. What it has lost is the near certainty with which, between roughly 2014 and 2018, almost every respectable example could command more than two million.

Our assessment based on 36 months of market data:

1. The realistic market corridor is currently €1.10–1.45 million. The European results in Knokke, Paris and Saint-Tropez reflect this range; at an exchange rate of approximately $1.15 to the euro, both Monterey results also fall within this band.
2. Clarity drives value. A $380,000 difference between two cars sold during the same week provides a particularly useful illustration.
3. Originality matters more than condition alone. Factory colours and period-correct combinations consistently achieve stronger results than cars that have been substantially altered from their original specification.

Buyers currently differentiate carefully between history, originality, matching numbers, colour, restoration quality and provenance. With more cars coming to market as collections change hands between generations, buyers also have greater opportunity to select the right car according to these criteria.

Buy Now or Wait?

Today, a Ferrari 250 GT Lusso can be bought for considerably less than the historical market peaks. Around ten years ago, the model was already a substantially more expensive car. The market has since removed a significant part of the speculation that characterised that period.

What, in our view, supports buying today?

1. Supply is structurally limited. Around 350 cars were built and that number cannot increase. At the same time, the Lusso belongs to the celebrated 250 family alongside the SWB, California Spider and GTO – but trades at only a fraction of the prices commanded by the most expensive 250 variants.
2. It is a genuine Enzo-era Ferrari V12. Pininfarina design, Scaglietti coachwork, the three-litre Colombo V12, four-wheel disc brakes and engineering closely related to the great 250 models form a combination that modern Ferrari limited-production models cannot replicate.
3. 2026 demonstrates demand for quality. Several sales within a matter of months are considerably more meaningful than one isolated record. The latest results form a relatively clear price and demand cluster.
4. The Lusso remains usable. Unlike a GTO or California Spider, whose eight-figure values increasingly turn them into museum pieces, Lussos are still driven on the road and can be used for tours and events. That is, after all, what the car was originally designed to do.

One Car Against the Criteria: Chassis 5119 GT

Transparency note: The following car is being offered in an ongoing Classic Trader Premium Auction until 27 September 2026. The preceding market analysis is based exclusively on publicly documented third-party results.

The effect of the criteria discussed above can be illustrated by a car currently being offered through our platform.

Chassis 5119 GT was delivered to Bologna on 28 November 1963 and retains its factory colour of Blu Scuro. The odometer currently reads 60,473 kilometres. The restoration was carried out by Alain Coquelet, while a recent appraisal rates the car as Condition 2. According to the available documentation, the engine, gearbox and differential are the original components.

The car has also just received a minor service and technical inspection at a Ferrari-licensed specialist. All fluids were changed and, as part of the overhaul of the brake booster by Casa del Freno, a new brake master cylinder was fitted. The car is therefore fully roadworthy.

Certification remains the open point – and Monterey gives us some indication of its potential value. Around $380,000 separated the certified and non-certified cars sold during the same week. This difference represents part of the potential that a buyer acquires if they decide to pursue certification.

In essence, the relevant criteria can be assessed as follows:

1. Originality: Factory colour and matching numbers. Large parts of the original interior are also still present and are included with the car.
2. Clarity: The car’s condition and ownership history have been extensively researched and are well documented back to its first registration on 13 January 1964. A current and detailed valuation report is available.
3. Price expectation: A realistic estimate of €1,250,000 to €1,350,000.

All prices quoted are auction results or asking prices in their original currencies and, as a rule, include buyer’s premium. Research cut-off: 15 September 2026. Sources are individually linked and have been cross-checked.

Depending on the methodology used, total Monterey 2026 auction sales are reported at between $718.3 million and $758.3 million; for this article, we follow Hagerty’s final editorial figure.

Images: Gooding & Company, LLC., RM Sotheby’s, Mecum Auctions, Classic Trader

Author: Christian Plagemann

Christian Plagemann is one of two founders and Managing Directors of Classic Trader. Dream ride: Lamborghini Miura Current Ride: Mercedes-Benz 180 D Ponton View all posts by Christian Plagemann →