Famous previous owners of Witten’s Ferrari include Phil Hill, the first American F1 World Driver’s Champion, who drove it as a practice car ahead of the Targa Florio endurance race in 1962, and jewellery empire heir Gianni Bulgari. According to RM Sotheby’s, the car won over 20 races and never crashed. In fact, it’s believed all 36 of the original models are still in existence in the hands of super-rich collectors and owners.
Witten bought the car in 2000 for an undisclosed amount but told CNBC he paid less than a tenth of its current value, so he’s smiling all the way to the bank on his return - and he has 12 other classic Ferraris in his garage. He said his reason for selling was he likes to race but it’s become harder and harder to race against newer, more powerful models.
Asked which was the better investment in terms of appreciation, Microsoft shares or his GTO, Witten replied: “Definitely the GTO.”