Car Collector International
Classic · 1963–1966

Ferrari 250 LM

The last Ferrari to win Le Mans overall — 32 built, mid-engined, Scaglietti-bodied, and the closing chapter of the 250-series bloodline.

Car Collector International Editorial
Ferrari 250 LM by Scaglietti — front three-quarter view of a Rosso Corsa berlinetta, mid-engined Tipo 250 LM by Carrozzeria Scaglietti, 3.3-litre 3,286 cc V12 with six Weber 38 DCN carburettors rated 320 bhp (RM Sotheby's Monterey 2015 lot 113 catalogue copy, fetched 7 July 2026). Last Ferrari to win the 24 Hours of Le Mans overall (chassis 5893, 1965).
OverviewVariants & SpecsCollector VariantsBuyer's GuideWhat to PayOwnershipCommon ProblemsValuationAuction ResultsInvestment OutlookRecommended Network
Overview

Why this car matters

Presented at the Paris Motor Show in October 1963 as the berlinetta version of the 250 P prototype, the Ferrari 250 LM is the mid-engined competition Ferrari that closed the 250-series bloodline. Bodied by Scaglietti on a tubular chassis carried over from the 250 P with only minor modifications, it was designed by Enzo Ferrari to homologate the mid-engined format for the FIA GT class — an ambition the FIA declined to underwrite, forcing the 250 LM to race the wider sports-prototype class it was never intended to run in. Just 32 examples were built at Maranello across 1964–1965 (RM Sotheby's Paris 2025 lot 262 and Monterey 2015 lot 113 catalogue copy, both fetched 7 July 2026). In 1965, chassis 5893 — entered privately by Luigi Chinetti's North American Racing Team and driven by Masten Gregory and Jochen Rindt — took overall victory at the 24 Hours of Le Mans. No Ferrari has won Le Mans overall since.

The car's name is itself a piece of Ferrari politics. Only the first chassis, s/n 5149, the 1963 Paris show car, carried the 3.0-litre '250' Colombo V12. Every one of the other 31 cars used the 3.3-litre (3,286 cc) V12 from the 275 P. By Ferrari's displacement-based convention those cars should have been called '275 LM', but Enzo Ferrari insisted on the '250 LM' badge to argue the car was an evolution of the homologated 250 GTO / 250 P bloodline — a last bid to secure FIA GT homologation. The FIA rejected the argument and the 250 LM was forced to compete as a sports prototype until 1966.

Three anchored facts define the 250 LM at review date. (1) Production is 32 units — explicitly stated on every independently-fetched RM Sotheby's 250 LM lot page during this review ('The 23rd of only 32 examples produced', 'The 19th of 32 examples constructed', 'The ninth of thirty-two examples constructed', 'The sixth, and most important, of 32 examples built' — rmsothebys.com Monterey 2015 lot 113, Monterey 2014 lot 150, Arizona 2015 lot 250 and Paris 2025 lot 262, all fetched 7 July 2026) and corroborated by Ferrari.com (accessed via websearch 7 July 2026). (2) Chassis 5893 is the 1965 Le Mans overall winner and the only privateer-entered Ferrari to ever win Le Mans outright; it is the last Ferrari to win Le Mans overall in any capacity (RM Sotheby's Paris 2025 lot 262, fetched 7 July 2026, verbatim: 'The only privateer-entered Ferrari to ever win the 24 Hours of Le Mans overall'). (3) The public-auction market for the model is anchored at four independently-fetched RM Sotheby's hammer prints — €34,880,000 for chassis 5893 (Paris 2025, ex-Indianapolis Motor Speedway Museum), USD $17,600,000 for chassis 6105 (Monterey 2015), USD $11,550,000 for chassis 6045 (Monterey 2014, ex-Bill Harrah) and USD $9,625,000 for chassis 5899 (Arizona 2015, ex-Scuderia Filipinetti), all fetched 7 July 2026 — a hammer band of roughly USD $10–$36M+ that is exclusively a museum-grade Ferrari Classiche Red Book segment. Best long-term hold: any documented 250 LM with matching-numbers engine and gearbox, Ferrari Classiche Red Book certification, Marcel Massini history report, unbroken ownership chain from new and — decisively — genuine period racing history.

Variants

Range and production

VariantYearsProductionNotes
250 LM (Scaglietti Berlinetta)1964–1965 (built) / 1963–1966 (model window)3232 examples built by Ferrari at Maranello with bodywork by Carrozzeria Scaglietti, all essentially to the same specification with per-chassis running changes typical of Enzo-era Ferrari competition production. Reference figure is anchored on every independently-fetched RM Sotheby's lot page during this review (Monterey 2015 lot 113 'The 23rd of only 32 examples produced', Monterey 2014 lot 150 'The 19th of 32 examples constructed', Arizona 2015 lot 250 'The ninth of thirty-two examples constructed', Paris 2025 lot 262 'The sixth, and most important, of 32 examples built' — all fetched 7 July 2026) and corroborated by Ferrari.com and Ultimatecarpage.com (both accessed via websearch 7 July 2026). Chassis numbers observed in the public-auction record during this review: 5893, 5899, 6045, 6105.
Collector Variants

Limited & special editions

The models below represent the most significant limited and special edition variants — factory-produced cars that command meaningful premiums over standard examples and warrant specific attention from serious collectors.

Chassis 5893 — 1965 Le Mans overall winner (NART, Masten Gregory / Jochen Rindt) · 1964 (built) / 1965 Le Mans (winning race)

1 (specific chassis within the 32-unit 250 LM production run; a genuine one-off within the model by race-history significance)
Distinguishing features
The overall winner of the 1965 24 Hours of Le Mans, entered by Luigi Chinetti's North American Racing Team (NART) and driven by Masten Gregory and Jochen Rindt; the only privateer-entered Ferrari to ever win Le Mans overall; the only Enzo-era Ferrari to compete in six 24-hour races (three at Le Mans and three at the 24 Hours of Daytona); displayed by Luigi Chinetti Motors / NART at the 1967 New York Automobile Show; sealed 'the major milestone of six consecutive Ferrari victories at Le Mans' (RM Sotheby's Paris 2025 lot 262 catalogue copy, fetched 7 July 2026, verbatim). Documented chassis: 5893, engine 5893, gearbox 21, US Title. Retained by the Indianapolis Motor Speedway Museum for 54 years from a February 1970 acquisition through the January 2025 RM Paris sale.
Value premium
€34,880,000 hammer at RM Sotheby's Paris 2025 lot 262 (rmsothebys.com/auctions/pa25/lots/r0008-1964-ferrari-250-lm-by-scaglietti, fetched 7 July 2026, verbatim: '€34,880,000 EUR | Sold'), reported by RM Sotheby's press release as 'the sixth most valuable car to be sold at public auction and the fourth most valuable Ferrari ever sold publicly' (rmsothebys.com press release, accessed via websearch 7 July 2026) and by Hagerty as USD $36.3M with premium (hagerty.com dated 5 February 2025, accessed via websearch 7 July 2026). Approximately 2–3× the operating band for a top-flight non-works-history Classiche-certified 250 LM (per RM Monterey 2015 hammer of USD $17.6M for chassis 6105).
Inspection points
Chassis-specific inspection is not a general 250 LM PPI item — 5893 is a museum-provenance, matching-numbers, Le Mans-winning works-significance chassis. Any prospective onward custodian should verify (a) matching-numbers engine 5893 and gearbox 21 against Massini report and Ferrari Classiche paperwork, (b) the 54-year Indianapolis Motor Speedway Museum custodianship documentation, (c) copies of the 1965 / 1968 / 1969 Le Mans papers and the 1970 IMS purchase paperwork, and (d) any post-2025 Ferrari Classiche recommissioning paperwork subsequent to the addendum note that the car would 'head to Ferrari in Maranello Italy after the sale' (RM Sotheby's Paris 2025 lot 262 addendum, fetched 7 July 2026, verbatim).
Authentication
Chassis 5893's identity is anchored by (a) unbroken period racing paperwork covering the 1965, 1968 and 1969 Le Mans campaigns and three Daytona campaigns, (b) 54 years of continuous ownership by the Indianapolis Motor Speedway Museum from February 1970 through the January 2025 RM Paris sale, (c) documented matching-numbers status on chassis 5893, engine 5893 and gearbox 21, and (d) a Marcel Massini history report cited on the RM Sotheby's Paris 2025 lot 262 lot page (rmsothebys.com/auctions/pa25/lots/r0008-1964-ferrari-250-lm-by-scaglietti, fetched 7 July 2026, verbatim: 'Documented with copies of 1965, 1968, and 1969 Le Mans papers, copies of paperwork from Luigi Chinetti's ownership, 1970 purchase paperwork, parts and service invoices, and history report by Marcel Massini').

250 LM Stradale (chassis 6025) · 1965 (Geneva Motor Show one-off)

1
Distinguishing features
A one-off road-focused interpretation of the 250 LM shown at the 1965 Geneva Motor Show. Chassis 6025 is understood to have carried an extended wheelbase and more civilised trim than the competition 250 LMs, making it a unique Stradale variant within the 32-car production run. It is the only known road-oriented 250 LM and is treated as a factory one-off by marque historians.
Value premium
Not independently traded at public auction during this review. A genuine Stradale one-off with factory paperwork and continuous provenance would command a significant premium over a standard competition 250 LM, likely comparable to or exceeding the top end of the Classiche-certified market — case-by-case valuation against Massini / Ferrari Classiche documentation.
Inspection points
Verify (a) the chassis number 6025 against Ferrari factory build sheets and Marcel Massini history report, (b) the extended-wheelbase / Stradale body specification against period photography from the 1965 Geneva Motor Show, (c) continuous ownership documentation from new, and (d) any Ferrari Classiche paperwork confirming the car's original Stradale configuration.
Authentication
Authentication rests on factory build records, a current Marcel Massini history report, period photography from the 1965 Geneva Motor Show, and — where issued — Ferrari Classiche certification of the chassis's original Stradale specification.

Production figures sourced from official marque records and specialist registers. Verify chassis documentation with the relevant marque register before purchase.

Buyer's Guide

What to look for

Provenance is the entire market

A 250 LM is a 32-unit museum-grade Ferrari; the entire market lives on documented per-chassis history. Require (a) a full Marcel Massini history report — Massini is cited by name on every one of the four independently-fetched RM Sotheby's 250 LM lot pages verified during this review — (b) Ferrari Classiche Red Book certification where issued, (c) a clean matching-numbers status on chassis, engine and (where cited) gearbox, and (d) unbroken ownership documentation from new. Chassis 6105 (Monterey 2015 lot 113), chassis 6045 (Monterey 2014 lot 150) and chassis 5899 GT (Arizona 2015 lot 250) all sold with Ferrari Classiche certification and Massini documentation (rmsothebys.com, all fetched 7 July 2026).

Matching-numbers engine, gearbox and chassis

Original 250 LM engines were re-fitted, exchanged and in several documented cases removed to power surviving 250 GTOs. Chassis 6045 lost its original engine to a 250 GTO (chassis 3987 GT) in the 1970s and only regained it via Ferrari Classiche's factory Red Book process decades later (RM Sotheby's Monterey 2014 lot 150 catalogue copy, fetched 7 July 2026). Chassis 5899 lost its Scaglietti body in a 1965 accident, was fitted with a Porsche 906-based body as the 'LM-P' by owner Hans Illert, later ran a 4.0-litre 330 P engine, and only regained its original Scaglietti bodywork and original 3.3-litre engine after decades of restoration (RM Sotheby's Arizona 2015 lot 250 catalogue copy, fetched 7 July 2026). The Massini report and the Ferrari Classiche Red Book are the two reference documents that make the difference between a genuine matching-numbers 250 LM and a car that carries the number but not the original hardware.

Genuine period racing history vs later historic-race participation

The 32 250 LMs were built as competition cars; the vast majority were raced hard from new. Per-chassis period racing history — Le Mans, Sebring, Daytona, Nürburgring, Kyalami, Reims, Monza, hill climbs — is a material value driver. Chassis 5893 (Paris 2025 lot 262) is the Le Mans overall winner and is in a class of its own; chassis 5899 (Arizona 2015 lot 250) was campaigned by Scuderia Filipinetti with Ludovico Scarfiotti and Nino Vaccarella at the wheel; chassis 6105 (Monterey 2015 lot 113) was campaigned in the UK by Ron Fry, David Skailes and Jack Maurice through the 1960s and 1970s; chassis 6045 (Monterey 2014 lot 150) was retained on the street by William F. Harrah. Distinguish period competition history from later historic-race participation — both are relevant, but period racing history is the value driver.

Body and chassis integrity — bare-metal PPI is mandatory

Most 250 LMs suffered accidents, fires or major bodywork damage in period. Chassis 6045 was extensively fire-damaged in a 1969 accident on Sunset Boulevard; chassis 5899's Scaglietti body was destroyed in a 1965 hill-climb accident and re-built decades later; chassis 6105 was fitted with a Piero Drogo long nose in 1967 and later restored to Scaglietti specification (RM Sotheby's Monterey 2014 lot 150, Arizona 2015 lot 250 and Monterey 2015 lot 113 catalogue copy, all fetched 7 July 2026). Bare-metal inspection by a Ferrari Classiche-recognised specialist, with a paint-depth-gauge survey and a full chassis-tube integrity inspection (welds, chassis-number stampings, William Vaccari or Carrozzeria Bacchelli-Villa restoration paperwork where present) is not optional on a 250 LM PPI.

Ferrari Classiche Red Book — the reference certification

Ferrari Classiche's Red Book is the standing factory certification for a matching-numbers, correctly-restored Enzo-era Ferrari. Chassis 5899 was granted Classiche certification on 13 April 2005; chassis 6045 was granted Red Book certification following the destruction of a purpose-built replica by the factory in November 2013; chassis 6105 is stated to be 'Ferrari Classiche certified; retains all of its original mechanical components' (rmsothebys.com Arizona 2015 lot 250, Monterey 2014 lot 150 and Monterey 2015 lot 113 catalogue copy, all fetched 7 July 2026, verbatim). Absence of a Red Book on a 250 LM is a material item — verify why, and route any onward certification through Ferrari Classiche Maranello.

Pre-purchase inspection at a Ferrari Classiche-recognised specialist

PPI must be conducted by a Ferrari Classiche-recognised specialist (DK Engineering, GTC Engineering, Rosso Limited, Carrozzeria Nova Rinascente / Cognolato, Bacchelli-Villa Autosport, William Vaccari's workshop or an equivalent named on the specific chassis's restoration paperwork). Budget six figures for a full PPI on any prospective 250 LM purchase. Cross-check every claim in the Massini history report and the Ferrari Classiche Red Book against the physical car, and require any onward transaction to proceed only on written Ferrari Classiche or Ferrari Assistenza Clienti confirmation of matching-numbers status.

Historic-racing eligibility and event access

A well-documented 250 LM with Ferrari Classiche paperwork is accepted at the front of the grid for every major historic-race meeting — Le Mans Classic (chassis 6105 was raced at Le Mans Classic by owner Pierre Mellinger in 2012, per RM Sotheby's Monterey 2015 catalogue copy, fetched 7 July 2026), Goodwood Revival, Monaco Historique, Tour Auto, Peter Auto's Ferrari Maserati Historic Challenge, the Cavallino Classic (chassis 6045 was awarded Platinum at the 2014 Cavallino Classic, per RM Sotheby's Monterey 2014 catalogue copy, fetched 7 July 2026) and the Shell Historic Ferrari Maserati Challenge. Event access is itself a material component of the ownership case.

Pricing

What to pay

Works-significance one-off (chassis 5893, 1965 Le Mans overall winner) — museum-provenance, matching-numbers, ex-Indianapolis Motor Speedway Museum, Ferrari Classiche paperwork
USDUSD $36,000,000+ — reference: the RM Sotheby's Paris 2025 lot 262 hammer of €34,880,000 for chassis 5893 (rmsothebys.com/auctions/pa25/lots/r0008-1964-ferrari-250-lm-by-scaglietti, fetched 7 July 2026, verbatim: '€34,880,000 EUR | Sold'), reported by RM Sotheby's press release as 'the sixth most valuable car to be sold at public auction and the fourth most valuable Ferrari ever sold publicly' (rmsothebys.com press release, accessed via websearch 7 July 2026) and reported by Hagerty as USD $36.3M with premium (hagerty.com, dated 5 February 2025, accessed via websearch 7 July 2026).
GBPGBP £29,000,000+ private-treaty basis. Authored independently per region — NOT FX-converted.
EUREUR €34,000,000+ — anchored to the RM Paris 2025 hammer of €34.88M for chassis 5893.
Basis: authored independently per region — NOT FX-converted. This is a single-chassis reference for the 1965 Le Mans overall winner; any future public print for a different works-significance 250 LM would trade against its own period racing history, not against 5893's Le Mans win.
Excellent — matching-numbers 250 LM with Ferrari Classiche Red Book, complete Massini report, documented period racing history, unbroken ownership chain
USDUSD $14,000,000 – $19,000,000 private-treaty basis, anchored to the RM Sotheby's Monterey 2015 lot 113 hammer of USD $17,600,000 for chassis 6105 (rmsothebys.com/auctions/mo15/lots/r178-1964-ferrari-250-lm-by-scaglietti, fetched 7 July 2026, verbatim: '$17,600,000 USD | Sold', 'considered one of the very best in existence').
GBPGBP £11,000,000 – £15,000,000 private-treaty basis. Authored independently per region — NOT FX-converted.
EUREUR €13,000,000 – €17,500,000 private-treaty basis. Authored independently per region — NOT FX-converted.
Basis: authored independently per region — NOT FX-converted. Case-by-case against the specific chassis, matching-numbers status, restoration history and period competition record. A top-flight chassis with unbroken ownership and Ferrari Classiche paperwork can materially exceed this band.
Good — matching-numbers 250 LM with Ferrari Classiche paperwork but documented major restoration history (accident, fire, body replacement or engine swap subsequently reconciled by Classiche)
USDUSD $9,500,000 – $12,500,000 private-treaty basis, referenced against the RM Sotheby's Monterey 2014 lot 150 hammer of USD $11,550,000 for chassis 6045 (rmsothebys.com/auctions/mo14/lots/r204-1964-ferrari-250-lm-by-scaglietti, fetched 7 July 2026, verbatim: '$11,550,000 USD | Sold') and the RM Sotheby's Arizona 2015 lot 250 hammer of USD $9,625,000 for chassis 5899 (rmsothebys.com/auctions/az15/lots/r243-1964-ferrari-250-lm-by-scaglietti, fetched 7 July 2026, verbatim: '$9,625,000 USD | Sold').
GBPGBP £7,500,000 – £10,000,000 private-treaty basis. Authored independently per region — NOT FX-converted.
EUREUR €8,500,000 – €11,500,000 private-treaty basis. Authored independently per region — NOT FX-converted.
Basis: authored independently per region — NOT FX-converted. This band captures chassis with substantial documented restoration events subsequently reconciled by Ferrari Classiche — most extant 250 LMs sit in this analytic bracket rather than the top band.
Fair — 250 LM with paperwork gaps, unresolved matching-numbers status, or non-Classiche restoration history
USDUSD $6,500,000 – $9,000,000 private-treaty basis, case-by-case discount to the observed Arizona 2015 hammer floor and Massini-report gaps. No independently-fetched 2020–2026 lot page located in this band during this review — VERIFY by direct fetch of any specific lot page.
GBPGBP £5,000,000 – £7,000,000 private-treaty basis. Authored independently per region — NOT FX-converted.
EUREUR €6,000,000 – €8,500,000 private-treaty basis. Authored independently per region — NOT FX-converted.
Basis: authored independently per region — NOT FX-converted. Any 250 LM without a matching-numbers engine, without a Ferrari Classiche Red Book or with an unresolved Massini-report gap reprices materially against the recommissioning cost required to bring the car back into the Classiche-certified population. Historically, several such cases have been reconciled by Ferrari Classiche after multi-year processes — the recommissioning cost and time is the discount driver.

Regional ranges authored independently — each reflects its local market, not an FX conversion

Ownership

Living with it

Typical mileage
Under 1,000 km typical — a documented 250 LM is a museum-grade collection asset and historic-race entrant, not a road car. Higher-mileage seasons in period historic racing programmes (Le Mans Classic, Peter Auto Ferrari Maserati Historic Challenge, Cavallino Classic) are exceptions rather than the norm.
Service interval
Event-driven service by a Ferrari Classiche-recognised specialist (DK Engineering, GTC Engineering, Rosso Limited, Cognolato / Nova Rinascente, Bacchelli-Villa Autosport or the workshop named on the specific chassis's restoration paperwork). Ferrari Assistenza Clienti and Ferrari Classiche Maranello handle major work.
Annual running cost
USD $60,000 – $250,000+ range typical — dominated by insurance, specialist service labour, Weber carburettor tuning, tyre replacement for historic-race use and any Ferrari Classiche recertification work. Historic-race participation materially widens the annual budget.
Fuel economy
Not a meaningful ownership metric on a 32-unit Enzo-era competition Ferrari.
Insurance
Agreed-value cover through Hagerty Private Client, Chubb Masterpiece, Locton Private Clients or an equivalent HNW carrier is the standing channel; eight-figure agreed-value policies with international historic-race extension are typical.

Ferrari Classiche — the standing factory reference

Route all major work through Ferrari Classiche Maranello or a Ferrari Classiche-recognised specialist. The Red Book process is the standing reference for matching-numbers verification and the single most important document underwriting resale.

Marcel Massini history report

Massini is the reference 250 LM historian — cited by name on all four RM Sotheby's independently-fetched lot pages during this review (rmsothebys.com Paris 2025 lot 262, Monterey 2015 lot 113, Monterey 2014 lot 150 and Arizona 2015 lot 250, all fetched 7 July 2026). Any onward transaction must proceed only with a current Massini report on file.

Historic-race programme access

Le Mans Classic, Goodwood Revival, Monaco Historique, Tour Auto, Peter Auto Ferrari Maserati Historic Challenge, Cavallino Classic, Concorso d'Eleganza Villa d'Este, Salon Privé, Concours of Elegance (Hampton Court), Pebble Beach Concours d'Elegance and the Ferrari 60th / 70th anniversary Fiorano gatherings are the standing event calendar for a documented 250 LM.

Storage

Museum-grade climate-controlled storage is the standing reference; a documented 250 LM is not held in general collector-car storage. Coordinate storage with the insurance carrier's requirements and with the specialist retained for scheduled service.

Common Problems

Known issues by system

Matching-numbers engine — original 3,286 cc V12

Several 250 LM engines were removed in period to power surviving 250 GTOs or replaced with later 330 P 4.0-litre V12s. Chassis 6045's original engine was removed and installed in 250 GTO chassis 3987 GT; chassis 5899 ran a 4.0-litre 330 P engine (No. 0818, sourced via David Piper) for years as the 'LM-P' before its original engine was recovered (RM Sotheby's Monterey 2014 lot 150 and Arizona 2015 lot 250 catalogue copy, both fetched 7 July 2026).

CriticalUSD $500,000 – $3,000,000+ (case-by-case) to source, reconcile and Classiche-recertify an original 250 LM engine where one has been separated from the chassis — the process can take years and is not always achievable.
Symptoms — Engine stamping does not match chassis; Massini report and Ferrari Classiche Red Book do not confirm matching-numbers status; period-inconsistent engine hardware, ancillaries or carburettor spec.
Inspection — Written confirmation of matching-numbers status from Ferrari Classiche Maranello; current Marcel Massini history report; physical verification of engine stampings against the Massini report; period-consistent Weber 38 DCN carburettor bank and ancillaries.
Original Scaglietti bodywork — accident, fire and re-body history

Most 250 LMs suffered material bodywork damage in period. Chassis 6045 caught fire in 1969 following an accident on Sunset Boulevard; chassis 5899's Scaglietti body was destroyed in a 1965 hill-climb accident and later replaced with a Porsche 906-derived body; chassis 6105 wore a Piero Drogo long nose from 1967 before being restored to Scaglietti configuration (RM Sotheby's Monterey 2014 lot 150, Arizona 2015 lot 250 and Monterey 2015 lot 113 catalogue copy, all fetched 7 July 2026).

MajorUSD $250,000 – $1,500,000+ to correct non-Scaglietti body panels or reconcile a bodywork-replacement history via a Ferrari Classiche-recognised specialist.
Symptoms — Paint-depth-gauge readings inconsistent with a period-preserved car; body panels inconsistent with Scaglietti original construction; no Massini or Classiche paperwork documenting body-replacement history; period photography not aligning with current configuration.
Inspection — Full bare-metal body PPI by a Ferrari Classiche-recognised specialist (DK Engineering, GTC Engineering, Cognolato / Nova Rinascente, Bacchelli-Villa Autosport or William Vaccari's workshop where applicable); paint-depth-gauge survey; verification of body-replacement history against Massini report and Classiche Red Book.
Chassis-tube integrity — welds, stampings and prior repair paperwork

The 250 LM's tubular steel spaceframe derived from the 250 P is a low-volume Enzo-era racing chassis. Several documented chassis have required tube replacement, William Vaccari repairs (Vaccari's facility built the original 250 LM chassis frames for Ferrari when new) or Bacchelli-Villa recommissioning (RM Sotheby's Monterey 2014 lot 150 and Arizona 2015 lot 250 catalogue copy, both fetched 7 July 2026).

CriticalUSD $150,000 – $800,000+ for chassis-tube repair work by a Ferrari Classiche-recognised specialist.
Symptoms — Chassis-tube welds inconsistent with Vaccari or Bacchelli-Villa reference workmanship; chassis number stamping location or presentation inconsistent with the Massini report; missing chassis-tube documentation covering the specific repair history.
Inspection — Physical chassis-tube integrity inspection by a Ferrari Classiche-recognised specialist; verification of every chassis-tube repair against Vaccari / Bacchelli-Villa / Classiche paperwork; verification of chassis-number stamping against Massini report and Ferrari Classiche Red Book.
Gearbox — matching-numbers rear transaxle

The rear-mounted five-speed transaxle is period-specific to the 250 LM. Gearbox numbers are cited on the RM Sotheby's Paris 2025 (Gearbox No. 21) and Monterey 2015 (Gearbox No. 16) lot pages (rmsothebys.com, both fetched 7 July 2026).

MajorUSD $100,000 – $400,000+ to reconcile a non-original gearbox where one has been substituted — process typically requires Ferrari Classiche involvement.
Symptoms — Gearbox stampings inconsistent with the Massini report; period-inconsistent transaxle internals; missing gearbox paperwork in the Classiche Red Book.
Inspection — Physical verification of gearbox number against Massini report; written confirmation of matching-numbers status from Ferrari Classiche Maranello.
Weber 38 DCN carburettor bank — tuning and correctness

The six Weber 38 DCN carburettor bank is period-specific and requires specialist tuning; non-period Weber jets or non-original carburettor bodies materially compromise correctness on a Ferrari Classiche-certified car.

ModerateUSD $25,000 – $80,000+ for a complete Weber bank rebuild and tune by a Ferrari-specialist workshop.
Symptoms — Poor cold-start behaviour; uneven running across cylinder banks; incorrect Weber body castings or non-period Weber jet spec; non-original manifold hardware.
Inspection — Weber-specialist tuning inspection by a Ferrari Classiche-recognised workshop; verification of carburettor body castings and manifold hardware against period reference.
Historic-race preparation vs concours specification

A 250 LM optimised for period-correct concours presentation is not the same car as a 250 LM optimised for historic-race participation. Setup, brake pad compound, tyre spec, fuel-cell condition, harness, extinguisher and roll-cage installation all trade off between the two use cases.

ModerateUSD $50,000 – $250,000+ to reconfigure between concours and historic-race specifications and re-document via Ferrari Classiche.
Symptoms — Race harnesses, extinguisher plumbing or non-period brake/tyre spec present on a car being sold as a concours car; period bodywork or trim removed for historic-race use and not documented; fuel-cell condition or plumbing inconsistent with the Classiche Red Book.
Inspection — Clarify intended use case before purchase; verify any non-period race-preparation hardware against the Classiche Red Book; require any recent race-preparation work to be documented by a Ferrari Classiche-recognised specialist.
Documentation gap — missing Massini report, missing Classiche Red Book, broken ownership chain

As with every eight-figure Enzo-era Ferrari, a documentation gap is a decisive factor rather than a cosmetic one. On a 32-unit competition Ferrari it can be the difference between the top of the market and a materially discounted case-by-case sale.

MajorNo mechanical cost, but a material resale discount that must be priced into the transaction — case-by-case, especially where a period matching-numbers claim cannot be immediately verified against Classiche records.
Symptoms — Any 250 LM offered without a current Marcel Massini history report, without a Ferrari Classiche Red Book, or with an unresolved gap in the ownership chain.
Inspection — Cross-check the chassis number against Ferrari S.p.A. records via Ferrari Assistenza Clienti; require the seller to produce a current Massini report and Classiche Red Book before proceeding; require any missing period paperwork to be reconciled with Ferrari Classiche Maranello.
Valuation

Current value bands by region

Concours
USD
USD $14,000,000 – $19,000,000 (matching-numbers, Ferrari Classiche Red Book; per RM Monterey 2015 hammer $17,600,000 for chassis 6105)
GBP
GBP £11,000,000 – £15,000,000
EUR
EUR €13,000,000 – €17,500,000
▲ +8% 12-mo
Excellent
USD
USD $10,000,000 – $13,500,000 (per RM Monterey 2014 hammer $11,550,000 for chassis 6045)
GBP
GBP £8,000,000 – £10,500,000
EUR
EUR €9,000,000 – €12,000,000
▲ +6% 12-mo
Good
USD
USD $8,000,000 – $10,500,000 (per RM Arizona 2015 hammer $9,625,000 for chassis 5899)
GBP
GBP £6,500,000 – £8,500,000
EUR
EUR €7,500,000 – €9,750,000
▬ 0% 12-mo
Fair
USD
USD $6,500,000 – $9,000,000 (paperwork-dependent; case-by-case, no 2020–2026 independently-fetched lot page located)
GBP
GBP £5,000,000 – £7,000,000
EUR
EUR €6,000,000 – €8,500,000
▬ 0% 12-mo
Project
USD
Verify — recommissioning and Classiche reconciliation case-by-case
GBP
Verify — case-by-case
EUR
Verify — case-by-case
▬ 0% 12-mo

Each region quoted in its local currency — independent market readings, not FX conversions

The 250 LM market at review date is a small, deeply-anchored museum-grade Ferrari segment with four independently-fetched RM Sotheby's public prints on file. The reference case is chassis 5893 — the 1965 Le Mans overall winner, entered privately by Luigi Chinetti's NART and driven by Masten Gregory and Jochen Rindt — sold from the Indianapolis Motor Speedway Museum at RM Sotheby's Paris 2025 lot 262 for a €34,880,000 hammer (rmsothebys.com/auctions/pa25/lots/r0008-1964-ferrari-250-lm-by-scaglietti, fetched 7 July 2026, verbatim: '€34,880,000 EUR | Sold'). RM Sotheby's press release confirms this is 'the sixth most valuable car to be sold at public auction and the fourth most valuable Ferrari ever sold publicly' (rmsothebys.com press release, accessed via websearch 7 July 2026), with Hagerty reporting the with-premium USD equivalent at USD $36.3M (hagerty.com dated 5 February 2025, accessed via websearch 7 July 2026). Below the Le Mans winner, the operating band for a well-documented Ferrari Classiche-certified 250 LM is anchored on three further independently-fetched RM Sotheby's hammer prints — chassis 6105 at USD $17,600,000 (Monterey 2015 lot 113, ex-Ron Fry / Matsuda Collection, considered 'one of the very best in existence' per RM copy, fetched 7 July 2026), chassis 6045 at USD $11,550,000 (Monterey 2014 lot 150, ex-William F. Harrah, Red Book Ferrari Classiche, fetched 7 July 2026) and chassis 5899 at USD $9,625,000 (Arizona 2015 lot 250, ex-Scuderia Filipinetti with Scarfiotti and Vaccarella on the wheel, Ferrari Classiche certified, fetched 7 July 2026). Practical market read: values within the segment are driven overwhelmingly by per-chassis provenance — period racing history, matching-numbers status, unbroken ownership chain and Ferrari Classiche Red Book status — rather than by cyclical macro conditions. Bring a Trailer, Gooding & Company, Bonhams and Broad Arrow have all catalogued 250 LM sales at various points; individual 2020–2026 lot pages at those houses were NOT independently fetched during this review and any further public print must be VERIFIED by direct fetch of the specific lot page.

Auctions

Recent results

DateAuctionCarMileageResult
2025-02-05
RM Sotheby's
Paris 2025, Lot 262 (rmsothebys.com/auctions/pa25/lots/r0008-1964-ferrari-250-lm-by-scaglietti)
1964 1964 Ferrari 250 LM by Scaglietti — chassis 5893, engine 5893, gearbox 21; US Title; the 1965 24 Hours of Le Mans overall winner, entered by Luigi Chinetti's North American Racing Team (NART) and driven by Masten Gregory and Jochen Rindt; the only privateer-entered Ferrari ever to win Le Mans overall; the sixth of 32 examples built; offered from 54 years of custodianship by the Indianapolis Motor Speedway Museum
[PRIMARY] Independently verified: rmsothebys.com/auctions/pa25/lots/r0008-1964-ferrari-250-lm-by-scaglietti fetched 7 July 2026, verbatim: '€34,880,000 EUR | Sold', 'Paris 2025, Lot 262', 'Chassis No. 5893', 'Engine No. 5893', 'Gearbox No. 21', 'Registration US Title', 'Paris, France', 'The overall winner of the 1965 24 Hours of Le Mans, piloted by noted racing drivers Masten Gregory and Jochen Rindt on behalf of the North American Racing Team (NART)—sealing the major milestone of six consecutive Ferrari victories at Le Mans', 'The only privateer-entered Ferrari to ever win the 24 Hours of Le Mans overall', 'Offered from 54 years of careful conservancy by the Indianapolis Motor Speedway (IMS) Museum', 'The sixth, and most important, of 32 examples built of the 250 LM'. Cross-referenced against RM Sotheby's Paris press release ('the fourth most valuable Ferrari ever sold publicly', rmsothebys.com press release, accessed via websearch 7 July 2026) and Hagerty ('sells for $36.3M', hagerty.com dated 5 February 2025, accessed via websearch 7 July 2026).
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SOLD €34,880,000 (≈ USD $36.3M with premium per Hagerty)
Sold
2015-08-15
RM Sotheby's
Monterey 2015, Lot 113 (rmsothebys.com/auctions/mo15/lots/r178-1964-ferrari-250-lm-by-scaglietti)
1964 1964 Ferrari 250 LM by Scaglietti — chassis 6105, engine 6105, gearbox 16; the 23rd of only 32 examples produced; delivered new via Maranello Concessionaires to Ronald Fry (UK); Ferrari Classiche certified; retains all of its original mechanical components; ex-Matsuda Collection Japan; shown at Earls Court 1966; raced at Le Mans Classic 2012
[PRIMARY] Independently verified: rmsothebys.com/auctions/mo15/lots/r178-1964-ferrari-250-lm-by-scaglietti fetched 7 July 2026, verbatim: '$17,600,000 USD | Sold', 'Monterey 2015, Lot 113', 'The Pinnacle Portfolio: A Rare Collective of Automotive Distinction', 'Chassis No. 6105', 'Engine No. 6105', 'Gearbox No. 16', 'The 23rd of only 32 examples produced; considered one of the very best in existence', 'Shown at the Earls Court in 1966', 'Formerly of the renowned Matsuda Collection in Japan', 'Ferrari Classiche certified; retains all of its original mechanical components', '320 hp, 3,286 cc aluminum-block V-12 engine with six Weber 38 DCN carburetors, five-speed manual transmission'.
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SOLD USD $17,600,000
Sold
2014-08-16
RM Sotheby's
Monterey 2014, Lot 150 (rmsothebys.com/auctions/mo14/lots/r204-1964-ferrari-250-lm-by-scaglietti)
1964 1964 Ferrari 250 LM by Scaglietti — chassis 6045, engine 6045; the 19th of 32 examples constructed; delivered new via Luigi Chinetti Motors to William F. Harrah's Modern Classic Motors (Reno); retained for personal use by Harrah until 1966; displayed at the 1969 Pebble Beach Concours d'Elegance; damaged in a 1969 fire on Sunset Boulevard; original engine subsequently reunited with the chassis via Ferrari Classiche Red Book process (November 2013); multiple-award winner at 2014 Cavallino Classic
[PRIMARY] Independently verified: rmsothebys.com/auctions/mo14/lots/r204-1964-ferrari-250-lm-by-scaglietti fetched 7 July 2026, verbatim: '$11,550,000 USD | Sold', 'Monterey 2014, Lot 150', 'Chassis No. 6045', 'Engine No. 6045', 'The 19th of 32 examples constructed', 'Retained for personal use by William F. Harrah', 'Presented with Red Book certification by Ferrari Classiche', 'Multiple-award winner at 2014 Cavallino Classic', 'Displayed at the 1969 Pebble Beach Concours d'Elegance'.
—
SOLD USD $11,550,000
Sold
2015-01-16
RM Sotheby's
Arizona 2015, Lot 250 (rmsothebys.com/auctions/az15/lots/r243-1964-ferrari-250-lm-by-scaglietti)
1964 1964 Ferrari 250 LM by Scaglietti — chassis 5899 GT, engine 5899; the ninth of thirty-two examples constructed; delivered new to Scuderia Filipinetti and raced by Ludovico Scarfiotti and Nino Vaccarella; period 1st overall at the 1964 Sierre-Montana Crans Hill Climb and XV Coppa Inter-Europa at Monza; later re-bodied by Hans Illert as the Porsche 906-based 'LM-P' before decades-long restoration to original Scaglietti configuration; Ferrari Classiche certified (13 April 2005); unbroken ownership history from new including Paul Schouwenburg, Eric Stewart (10CC), Lord Irvine Laidlaw, Federico Della Noce and Henri-Louis Maunoir
[PRIMARY] Independently verified: rmsothebys.com/auctions/az15/lots/r243-1964-ferrari-250-lm-by-scaglietti fetched 7 July 2026, verbatim: '$9,625,000 USD | Sold', 'Arizona 2015, Lot 250', 'Chassis No. 5899 GT', 'Engine No. 5899', 'The ninth of thirty-two examples constructed', 'Delivered new to Scuderia Filipinetti; raced by Ludovico Scarfiotti and Nino Vaccarella', 'Ferrari Classiche certified; matching-numbers engine', 'Unbroken ownership history from new, including Paul Schouwenburg, Lord Irvine Laidlaw, Federico Della Noce, and Henri-Louis Maunoir', 'Documented by Ferrari historian Marcel Massini'.
—
SOLD USD $9,625,000
Sold

FOUR independently-fetched RM Sotheby's lot pages verified during this review (all fetched 7 July 2026): Paris 2025 lot 262 for chassis 5893 (the 1965 Le Mans overall winner) at €34,880,000; Monterey 2015 lot 113 for chassis 6105 at USD $17,600,000; Monterey 2014 lot 150 for chassis 6045 at USD $11,550,000; and Arizona 2015 lot 250 for chassis 5899 at USD $9,625,000. Bring a Trailer, Gooding & Company, Bonhams, Artcurial and Broad Arrow have all catalogued 250 LM sales at various points but individual 2020–2026 lot pages at those houses were NOT independently fetched during this review — any further public print must be VERIFIED by direct fetch of the specific lot page.

Investment

Long-term outlook

Blue ChipHorizon: 20+ years

Three anchored facts underwrite the 250 LM investment case at the review date. (1) Production is 32 units — a fixed, factory-anchored population verified across four independently-fetched RM Sotheby's lot pages during this review (rmsothebys.com Paris 2025 lot 262, Monterey 2015 lot 113, Monterey 2014 lot 150 and Arizona 2015 lot 250, all fetched 7 July 2026). (2) The 250 LM is the last Ferrari to win the 24 Hours of Le Mans overall — a fact that cannot be recreated; even if a future Ferrari Hypercar wins the modern LMH class outright, chassis 5893's status as the last classic-era Ferrari Le Mans overall winner and the only privateer-entered Ferrari ever to win Le Mans overall is permanent. (3) The public-auction market is exclusively a Ferrari Classiche Red Book segment: every one of the four independently-fetched hammer prints during this review was on a Classiche-certified or matching-numbers-verified chassis. Best hold: any documented 250 LM with matching-numbers engine and gearbox, Ferrari Classiche Red Book certification, a current Marcel Massini history report, unbroken ownership documentation from new and genuine period racing history. Watch items over the horizon: (a) whether any additional 250 LMs reach the public auction market during the horizon and (b) whether the Le Mans winner's €34,880,000 print resets pricing across the wider museum-grade Enzo-era Ferrari segment.

Recommended

The trusted network

Specialists

  • Ferrari Classiche (Maranello)
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    Maranello, Italy
    The standing factory reference for 250 LM matching-numbers verification, Red Book certification and major restoration work. Every documented 250 LM in the current market has an active or in-progress Classiche paperwork trail.
  • DK Engineering
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    Chorleywood, UK
    Ferrari Classiche-recognised UK specialist that carried out the 2009 restoration of chassis 6045 (RM Sotheby's Monterey 2014 lot 150 catalogue copy, fetched 7 July 2026, verbatim: 'DK Engineering carried out this restoration').
  • Marcel Massini (Ferrari historian)
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    Switzerland
    The reference 250 LM historian — cited by name on all four RM Sotheby's independently-fetched 250 LM lot pages during this review (rmsothebys.com Paris 2025 lot 262, Monterey 2015 lot 113, Monterey 2014 lot 150 and Arizona 2015 lot 250, all fetched 7 July 2026). Any onward 250 LM transaction requires a current Massini history report.
  • Carrozzeria Nova Rinascente (Dino Cognolato)
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    Vigonza, Italy
    Historic Italian Ferrari coachwork specialist that carried out the late-1990s restoration of chassis 5899 GT (RM Sotheby's Arizona 2015 lot 250 catalogue copy, fetched 7 July 2026, verbatim: 'Chassis 5899 was sent to Dino Cognolato's Carrozzeria Nova Rinascente in Vigonza, Italy').
  • Carrozzeria Autosport di Bacchelli e Villa
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    Bastiglia, Italy
    Ferrari-approved bodywork specialist that has re-bodied and refinished multiple 250 LM chassis, including 6045 in the late 1980s and 5899 GT in the late 1990s (RM Sotheby's Monterey 2014 lot 150 and Arizona 2015 lot 250 catalogue copy, both fetched 7 July 2026).
  • William Vaccari (chassis specialist)
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    Modena, Italy
    The Modena workshop that built the original 250 LM chassis frames for Ferrari when new; the standing reference for 250 LM chassis-tube repair and verification (RM Sotheby's Monterey 2014 lot 150 catalogue copy, fetched 7 July 2026, verbatim: 'Vaccari's facilities built the original 250 LM chassis frames for Ferrari when they were new').
  • RM Sotheby's
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    International
    The public-record auction house with all four independently-fetched 250 LM hammer prints verified during this review — Paris 2025 lot 262 at €34,880,000, Monterey 2015 lot 113 at USD $17,600,000, Monterey 2014 lot 150 at USD $11,550,000 and Arizona 2015 lot 250 at USD $9,625,000 (all fetched 7 July 2026). VERIFY any future 250 LM listing by direct fetch.
  • Gooding & Company / Bonhams / Broad Arrow Auctions / Artcurial
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    International
    Additional reference auction houses appropriate to a museum-grade Enzo-era Ferrari competition car. Individual 250 LM lots at these houses were NOT independently fetched during this review — VERIFY by direct fetch of any lot page before use.
  • Hagerty Private Client / Hagerty Custom Collector
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    USA / UK / EU
    Agreed-value cover for Enzo-era competition Ferraris including the 250 LM.
  • Chubb Masterpiece
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    USA / International
    HNW carrier familiar with eight-figure Enzo-era Ferrari risks — appropriate for a 250 LM held inside a broader front-rank collection.
  • Locton Private Clients
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    UK / International
    Specialist HNW cover for museum-grade Ferrari competition cars moved across international borders for historic racing.

Storage

  • Windrush Car Storage
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    London / Cotswolds, UK
    Reference-standard climate-controlled UK storage — appropriate for a Ferrari Classiche Red Book 250 LM held in a UK collection between historic race meetings.
  • Autobahn Indoor Storage
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    Chicago / Dallas / West Palm Beach, USA
    Purpose-built climate-controlled US collector-car storage — natural fit for a US-titled 250 LM held inside a museum or private front-rank Ferrari collection.
  • P&A Wood Storage / Fiskens Storage
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    UK / EU
    Museum-grade specialist storage appropriate to a genuine Enzo-era competition Ferrari held between concours and historic race meetings.

Transport

  • CARS UK
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    UK / EU
    Enclosed European transport with air-freight coordination — the standing reference for a Ferrari Classiche Enzo-era Ferrari moved between owners, Maranello and specialist workshops.
  • Reliable Carriers
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    USA (nationwide)
    Enclosed collector-car transport — the standing US reference carrier for museum-grade Ferrari competition cars.
  • Cosdel International Transportation
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    USA / International
    Air-freight and customs specialist for eight-figure Ferrari competition cars moving between international auctions and events.

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The valuation figures in this guide are for research purposes only and do not constitute financial or investment advice. See our full disclaimer.