This vehicle sold for $223,797, including buyer’s premium, at the Bonhams Gstaad sale, held December 18, 2001.
The Group B class was a series dominated by well-funded factory teams and followed by a hard-core, mainly European fan base. How well the 288 might have done will never be known as the series was discontinued before the car had a chance to run.
The 288 project started with a new frame and the car was designed from there. The twin-turbo engine was mounted longitudinally with the transmission attached to the rear. The body was formed from composite material. Virtually every part on the car is unique to the 288, including the suspension, gas tanks, mirrors and all of the trim.
The elegant styling of the 288 retains the delicate lines of the 308 GTB, yet adds a degree of no-nonsense performance. Unfortunately, the similarity leads some enthusiasts to the incorrect conclusion that a 288 is a 308 in wide-body disguise.
Driving a 288 GTO is, for an automotive enthusiast, one of life’s ultimate pleasures. It has a fully finished interior with comfortable seats and good air conditioning. The steering is light, the interior noise level is acceptable and the suspension is well suited for grand touring. The engine starts easily, idles smoothly and glides effortlessly throughout the rpm range. Floor the throttle and the 288 emits a scream that goes from mild to hair-raising as the rpms increase and the turbos reach full boost. The tires rip at the pavement, barely retaining adhesion, and scenery turns to a blur. The sensation is a combination of brute force coupled with the taut control offered by the excellent Ferrari tubular chassis.
The “argument with the side of a cliff” history of S/N 55683 significantly hurts its value. Selling the car in a public forum with the accident damage announced, while the proper thing to do, may have hurt its value. Ferrari collectors covet virgins and 55683 is now a deflowered maiden. While it may have been repaired “without regard to cost,” money cannot buy originality. The owner choosing to sell the car so soon after its repair was not confidence-inspiring.
In the late ’80s, the value of 288s exceeded the million-dollar mark. It quickly dropped as the market receded and has stabilized in the $200,000 to $300,000 range.
With this car, if the accident damage was truly repaired to as-new condition, it could bring the new owner a nice profit if hand-sold in an environment where a proper examination of the car could be performed.
The 288 GTO will never achieve the value and notoriety of the 250 GTO due to its absolute lack of competition heritage. And, as mentioned above, their visual similarity to the mass-produced 308 doesn’t do their prices any favors. Nonetheless, the 288 GTO is a rare factory supercar that was in fact built to go racing.
The combination of low production numbers, competition intent and prodigious performance has kept the value of the 288 GTO steady. While it’s unlikely that prices for these cars will soar, it is equally unlikely that they will ever be worth significantly less than they are today.-Steve Ahlgrim
