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The Ferrari 250 GTO is probably the only car that’s literally worth more than its weight in gold

April 6, 2021 By Keith Leave a Comment

A really good article about Malaysia.

Gold has always been the embodiment of wealth, partly because of its significance in jewellery, and also partly because it’s just a very expensive material – so much so that there’s even a saying that goes along the lines of “worth its weight in gold”.

While the saying is usually used figuratively to express a non-tangible value, there are actual physical things – albeit few and far in between – that are worth more than its own weight in gold, literally. One of which, is the Ferrari 250 GTO, as figured out by Reddit user, subtle_anarchist.

Antique Dealers
This particular Ferrari 250 GTO was sold for a whopping USD70 million in 2018.

The Ferrari 250 GTO is often regarded as the “Holy Grail” of collectibles. Only 36 individual units were ever built (in two body styles), so there’s the rarity factor at play. Couple that with the Ferrari clout, and the fact that these cars are all featured in many iconic races in the 60s, resulted in them regularly fetching more than USD40 million at auctions worldwide.

But one particular example of the Ferrari 250 GTO was worth more than the others: chassis number 4153GT, a Series I model that was sold for a whopping USD70 million just two years ago, setting the record for the most expensive car ever sold.

Car classifications

According to Ferrari, the 250 GTO weighs in at just 880 kg dry. At the USD70 million price, this particular unit of the 250 GTO costs USD79.55 per gram.

And what’s the price for pure gold you ask? According to the (very descriptive) website goldprice.org, the price for a gram of gold today is USD55.84. So if the Ferrari 250 GTO is made out of pure gold, it’ll “only” cost around the region of USD49 million. Let that sink in for a moment.

Ferrari

Now, of course, not every single Ferrari 250 GTO is worth USD70 million. But looking at how sought after this car is, it won’t be surprising to see it going past the pure-gold-price every now and again – and eventually even surpassing the current USD70 million record. The last unit listed at the RM Sotheby’s auction was sold for USD48.4 million in 2018.

You know how gold has always been the “go-to” option for someone looking for a relatively stable investment? Well, maybe it’s time for the rare earth material to move over for classic cars like these.


GALLERY

The above post was first published here.

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Filed Under: Blog Tagged With: Antique Dealers, Automobiles & Multi Utility Vehicles, Car classifications, Cars, Ferrari, goldprice.org, GTO, Malaysia, Sothebys, www.whatsonpenang.com/

So I went to Penang to surprise the debut drive of my colleague's rebuild E93 M3 | Evomalaysia.com

March 30, 2021 By Keith Leave a Comment

videos on Penang Malaysia.

This video post was provided on this site.

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Filed Under: Penang Video Tagged With: america, Aston Martin, aurizn, Australia, autobuzz, bangladesh, BMW M3, bobby ang, brazil, canada, car channel, car reviews, cardock, China, doug demuro, dropthetop, egypt, england, Entertainment Culture, evomalaysia, Ferrari, Finland, France, Geography of Malaysia, germany, hongkong, india, Indonesia, ireland, israel, italy, japan, korea, lamborghini, macau, Malaysia, mexico, mrjww, nazz abdullah, New Zealand, norway, Pakistan, pandu laju, paultan, Penang, penang food, Penang Malaysia, Penang Things To Do, Penang Video, Peninsular Malaysia, poland, portugal, romania, russia, saudi, scotland, Singapore, south africa, spain, States and federal territories of Malaysia, Strait of Malacca, uk, usa, v10, v12, v8, What's On Penang, whatsonpenang.com, www.whatsonpenang.com/

Porsche invests more into Rimac Automobili, increasing its share to 24 per cent

March 8, 2021 By Keith Leave a Comment

A great article about Malaysia.

Rimac Automobili, a relatively niche supplier of high-tech components for electromobility sees more funding and investment from Porsche.

Porsche first invested in the Croatian technology firm back in 2018 with a 10% minority stake. That increased to 15% a year later and now with an investment of 70 million Euro, Porsche will hold 24 per cent of the shares without exercising a controlling influence.

CEO

“Mate Rimac and his team are important partners, especially when it comes to supporting us in the development of components. Rimac is well on its way to becoming a Tier 1 supplier for Porsche and other manufacturers in the high-tech segment. Porsche has already placed its first orders with Rimac for the development of highly innovative series components,” said Deputy Chairman of the Executive Board and Member of the Executive Board for Finance and IT at Porsche, Lutz Meschke.

Porsche has for many years been stepping up investment in young companies with potential. It currently has stakes in more than 20 start-ups and eight venture capital funds. “Our investment in Rimac has turned out to be absolutely right,” Meschke says.

Executive Board for Finance

“Porsche has been a big supporter of our company since 2018, and it has always been a privilege to have one of the world’s most iconic sports car brands be a part of Rimac,” says CEO and founder, Mate Rimac.

high-tech components

“We’re proud to work together on exciting new electrified products. With many car manufacturers across the world being Rimac customers, it is important, both for Rimac and Porsche, that we remain an entirely independent business,” adds Rimac. The company has also been engaged for projects by automakers such as Hyundai, Ferrari, Mercedes-Benz and Aston Martin.

iconic sports car brands

Rimac Automobili is also launching their own EV vehicle which is designed to have close to 2,000 hp and 2,300 Nm of torque. The four-motor two-tonne electric hypercar is targeted hit the century sprint benchmark in under two seconds, onwards to a top speed of 412 km/h.  

Limited to just 150 examples, the Rimac C_Two EV hypercar with a range of 550 kilometres will begin production this year at its new production facility located in Veliko Trgovišće, Croatia.  

The above post was provided here.

We trust you found the above of interest. You can find similar content on our main site:
whatsonpenang.com

Please let me have your feedback below in the comments section. Let us know what subjects we should write about for you in the future.

Filed Under: Blog Tagged With: CEO, Executive Board, Executive Board for Finance, Ferrari, high-tech components, high-tech segment, iconic sports car brands, Malaysia, Porsche, rimac automobili

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