This award-winning Ferrari is perfect in every way

Restored, adored and champion of the concours

Reconditioning a classic car is no mean feat. From sourcing original parts to ensuring every element is correct against the specification, it's an art form that requires acute attention to detail.

Even amongst restored classics, though, there are tiers – and occasionally a car comes along that’s been restored so well, so immaculately and so sensitively that it tops the lot.

So it is with this 1962 Ferrari 250GT SWB – an example that’s won awards for its proximity to perfection and is unrivalled in its finish.

It’s going up for sale with Bonhams this week and, even though the auction house won't publish a price tag, insurance specialist Hagerty suggests it could be worth at least £8m. Here’s why.

Model of many kinds

Ferrari built the sporting 250 between 1953 and 1964 under several monikers and with a host of different specifications.

Scope of power

On the road, the GT variant made good use of Ferrari’s 3-litre Colombo V12 engine, with output ranging from 217bhp all the way up to 276bhp, depending on the model.

Stunning shells

Ferrari began fitting 250GTs with beautiful Berlinetta body shells in the mid-’50s. These magnificent exteriors were designed by Italian coachbuilder Pininfarina and fitted by Scaglietti.

Shorter and better

In 1959, the Prancing Horse struck upon the idea of shortening the wheelbase of the 250GT to deliver a more nimble chassis and better handling – and so the 250GT SWB was born.

Limited numbers

Shorter by 200mm than the standard 250GT, just 165 variants of the SWB model were eventually built, with 91 wrapped in steel and 74 in aluminium.

Fast on the track, fetching on the road

As well as being a success on the track, the 250GT Berlinetta SWB was very popular on the road thanks to its compact bodywork, sloping tail and attractive Pininfarina-penned nose.

Worth millions

Examples in good condition today can fetch between £6m and £7m at auction – but this 1962 example could achieve even more on 24 August.

First of the year

Sent to Scaglietti for its stunning shell in late 1961, chassis 3337 GT is reportedly the first example to have been officially finished in 1962.

One of the last

A late model, it wears the final version of the SWB coachwork, complete with teardrop-shaped indicators and Pininfarina badge below the side vents.

Performance, boosted

Fitted with an all-alloy 3-litre V12 engine good for around 280bhp, this 250GT also gained Weber DCZ/6 carburettors for enhanced performance.

Going in grey

Finished in a subtle shade of Grigio Conchiglia, it shipped new to Steve Earle in Santa Barbara, a well-known historic motoring enthusiast who would hold on to the car for 12 years.

Creative care

After 1974, the keys to the 250GT went through several pairs of hands, ending up with Oscar-nominated filmmaker David Cronenberg – the man behind The Fly, among other films – in ’84

Competing in Canada

Registered with ‘GTB 250’ plates in Canada, Cronenberg entered chassis 3337 GT in several historic events, as period photographs show.

A decade in Nevada

In ’88 it was acquired by a Nevada man who would keep the Ferrari for more than 10 years, regularly running it at classic events until he sold it on in 2001.

Hello yellow

Its next owner was one Ken Rupp of Ohio, who put it in for treatment with specialist Motion Products. At this point it gained a new yellow finish, ahead of appearances at the Cavallino Classic in January 2004 and the Pebble Beach Concours d'Elegance in August 2006.

Shipped to Chip

Come 2008, the storied SWB was shipped to renowned car collector Chip Connor, who presented it again at Pebble Beach in 2010.

Certified special

Under Connor’s ownership, the 250GT also gained Ferrari Classiche certification, marking it out as an all-original example – from the engine and gearbox to the bodywork and chassis.

Getting better

So far, so good for this wonderful machine – but it was in 2014 that things really turned rosy for the pristine Prancing Horse.

Missing piece

Four years ago the Ferrari was bought by the current owner, an established collector of the Italian marque who’d been on the hunt for a 250GT SWB to complete his collection.

Eyes on the prize

But the new custodian didn’t want his SWB to be a mere concours-condition classic: no, he wanted to win platinum awards of the kind given only to the most astonishing restored machines.

Thoroughly quick fix

With that in mind, the SWB was sent to LA-based restorer Rex Nguyen for a rapid but comprehensive overhaul.

Instant winner

Turned around in mere months, the Ferrari – immaculately restored to factory spec – went to the Cavallino Classic in January 2015 and promptly won both a platinum award and an Excellence Cup for best restoration.

Back to grey

This, though, wasn’t enough for the owner of the now-restored Ferrari: together with Nguyen, he decided to take the car back to its grey metallic roots via an expert repainting job.

Good hiding

At the same time, the interior was reupholstered with specially selected hides from England, the engine was rebuilt to correct specification and a host of components were overhauled.

Team effort

A correct Abarth exhaust system was even sourced and an array of marque specialists and experts were consulted to ensure the 250GT was as accurate as it could possibly be.

More awards

Thus restored, it debuted at the Greystone Concours d'Elegance in 2015. It won the ‘Best in show’ award – and that was just the start of an astonishing run of success.

Sweeping the floor

It went on to win awards at a host of shows that year, including another fabled platinum award – with a perfect 100pt score – at the FCA International Meet in Monterey.

Back to the beach

Last year, this astonishingly finished and completely correct SWB was presented again at Pebble Beach, where it finished 2nd in class.

Up for auction

Now? It’s going to auction with Bonhams on 24 August at the firm's Quail Lodge sale – fittingly timed to coincide with the Pebble Beach Concours d'Elegance and Monterey Car Week.

Keeping quiet

How much will it fetch? Bonhams won’t put a figure on it, saying only that it’s “worth many millions of dollars.”

Promising comparison

That much we already knew, with other examples of the model fetching upwards of £6m in recent years – but this particular 250 could go for even more.

One of a kind

This is one of the finest Ferrari 250GT SWBs ever to go to auction, having been subject to a money-no-object restoration like no other.

Better than new

It’s probably in better condition than it was when it left the factory, from the paint job and the bodywork to the engine and interior – and it’s certainly unrivalled today.

Plenty of potential

Cars of this calibre don’t come along very often, meaning it's likely to garner a lot of attention from bidders.

UK Ferrari specialist Talacrest reckons £6m is a reasonable estimate – but classic insurance provider Hagerty suggests a car in this condition could comfortably top the £8m mark.

Guessing game

We’ll only know what it’s really worth when the hammer falls on 24 August – and we’ll be sure to let you know how it does.