$4 Million Ferrari 288 GTO Spotted on Seoul Streets!

The price is similar to one building
A symbol of Ferrari in the 1980s
The Actual Ferrari 288 GTO

Ferrari is a hot topic recently posted on a Facebook car group. The red Ferrari driving on the road in Seongsu-dong, Seoul, South Korea.

This model is the Ferrari 288 GTO, first launched in 1984. There is only one vehicle in South Korea, registered in April 2006. It was also captured in South Korea in 2022. Since the old green license plate was still attached, netizens have speculated that it was likely a new, one-owner vehicle without changing owners.

Official name: Ferrari GTO
Looking at what it means

The official name of this vehicle is Ferrari GTO. Ferrari’s vehicle naming system may seem complicated, but it has its own system. Among the names 288 GTO, 288 is an unofficial model name, originating from the 2.8-liter 8-cylinder turbo engine installed. GT stands for Gran Turismo, and O stands for Omologato or homologation model.

Homologation models, produced in limited quantities, are designed to meet racing requirements that stipulate a certain number of mass-produced vehicles for eligibility. These models hold a high collectible value. To avoid confusion with the 250 GTO, often hailed as one of the most beautiful vehicles in the world, it was unofficially named the 288 GTO.

What’s the Background of the Ferrari GTO Production?

The Ferrari GTO was created to participate in Group B, a rally hosted by the Federation Internationale del’Automobilee (FIA). More than 200 units of the same model as the participating vehicle had to be produced to participate in this event. As a result, 272 Ferrari GTOs were produced.

The maximum output of this vehicle is 400 horsepower, and the maximum torque is 51 kgm. It is equipped with a 2.8-liter 8-cylinder twin-turbo engine mounted vertically and a 5-speed manual transmission. Thanks to the active use of new materials such as carbon fiber, the weight is only 1,160 kg (2,557 pounds). It took to reach 100 km/h (62 mph) from a standstill of 4.9 seconds, and the top speed was 305 km/h (190 mph). The GTO was the first mass-produced vehicle to exceed 300 km/h (186 mph).

Ferrari worth about $ 4 million

The GTO is a legendary vehicle, so its price is also costly. This vehicle was produced in a limited edition of 272 units worldwide, so the current market price is approximately $4 million.