David Lee, henceforth also known as the luckiest man in the world, has just secured one of the most coveted Ferraris in collector circles and the missing piece of his Ferrari specials collection. The California businessman and renowned Ferrari enthusiast placed the winning bid of $38.5 million at Mecum’s Kissimmee auction for the only factory white Ferrari 250 GTO ever made. Notably, this rare 250 GTO isn’t the most expensive of its kind, that honor goes to a $70 million 250 GTO that sold in 2018.
Lee solved the mystery of who had bought this rare, unrestored Ferrari when he announced to his 1.1 million Instagram followers that he had become “the newest custodian” of the white 250 GTO following the sale. The purchase is perhaps far more special than any other Ferrari in his garage. Chassis 3729GT, finished in Bianco Speciale, stands as the singular example among the 36 Ferrari 250 GTOs manufactured between 1962 and 1964 to be finished in white, aside from being one of eight RHD models produced.
Originally commissioned by British racing team owner John Coombs in 1962, the white 250 GTO competed in period races with legendary drivers including Graham Hill. The car achieved notable results, has the coveted Ferrari Classiche certification verifying its originality and authenticity. The 250 GTO’s V12 puts out just shy of 300 horsepower, with a 0-62mph time of around five seconds, but clearly its performance is not what makes it so valuable.
Lee’s Ferrari collection is now valued at approximately $100 million and spans six decades of the Prancing Horse’s history. He’s best known as the first and only collector to own all five flagship Ferrari supercars in both red and yellow color schemes, including pairs of 288 GTOs, F40s, F50s, Enzos, and LaFerraris. His garage also houses rare models like the 1964 Ferrari 250 Lusso Competizione and a customized F12tdf bearing his initials.
As chairman and CEO of the Hing Wa Lee Group with an estimated net worth of $200 million, Lee transformed his father’s wholesale gemstone business into a luxury retail empire. The conglomerate also includes authorized Rolex and Cartier dealerships across California, real estate holdings, and other ventures including Collectible Exotic Motors and Monza Design, a Ferrari-inspired automotive watch brand, no surprises there. With a social media handle like ‘ferraricollector_davidlee’, the man sure knows how to live up to the billing.
