The California Spyder came about through advocacy by American Ferrari dealers, principally Luigi Chinetti and Jon von Neumann. Both recognised that their clientele wanted a more aggressive open car than the luxurious 250 GT Cabriolet Pinin Farina already in the Ferrari catalogue. Chinetti noted that in Italy the idea of a convertible as a serious sports car was difficult for Ferrari to embrace, but Enzo Ferrari ultimately approved the project — partly to prevent dealers from commissioning unauthorised conversions of existing Berlinetta models. The result was a convertible sharing the chassis and drivetrain of the 250 GT Berlinetta Tour de France, restyled by Scaglietti with a low roofline, long hood, and faired headlights.
Production was split into two generations: the long wheelbase (LWB) version, built from 1957 to 1960 on a 2.60-metre wheelbase, and the short wheelbase (SWB) version from 1960 to 1963, which used a more compact 2.40-metre wheelbase for sharper handling. Bodies were constructed in steel with aluminium panels for the doors, each hand-shaped individually by Scaglietti's craftsmen.
The car is powered by the Ferrari Colombo V12 engine, a 60-degree light-alloy unit displacing 2,953 cc. In LWB form it produced 240 horsepower; the SWB version received revised cylinder heads and larger valves, raising output to 280 horsepower. Braking was via drum brakes on early cars, switching to Dunlop disc brakes from October 1959. A four-speed gearbox with overdrive was fitted from 1960. Dry weight was approximately 1,100 kg, giving the car a lively power-to-weight ratio that reinforced its sporting character.
Although conceived primarily for road use, the California Spyder demonstrated genuine racing ability. It won the 12 Hours of Sebring in both 1959 and 1960, and a car entered by the North American Racing Team finished fifth overall at the 1959 24 Hours of Le Mans. Some competition-specification cars were fitted with engines sourced from Competizione Berlinetta models to raise their performance ceiling further.
The California Spyder achieved widespread popular recognition through its prominent role in the 1986 film Ferris Bueller's Day Off, in which a replica of the car features in several key scenes. The film introduced the model to a generation of viewers with no prior connection to Ferrari history, cementing its status as a cultural icon beyond the collector world.
In 2008 Ferrari introduced the modern Ferrari California road car, incorporating design elements drawn from the 250 GT California Spyder, demonstrating the original's lasting influence on the brand's convertible lineage.
The 250 GT California Spyder consistently achieves among the highest prices of any automobile at auction. In May 2008, television presenter Chris Evans purchased a car previously owned by actor James Coburn at Sotheby's for a then-record €7,040,000. In February 2015 an Artcurial Retromobile sale brought €14,200,000 for a short wheelbase example that had been owned by French actor Alain Delon and was discovered stored under a pile of newspapers alongside a Maserati. At Monterey Car Week in 2025, Gooding and Christie's sold one of just two alloy-bodied full competition-specification SWB California Spyders for $25,305,000, one of the highest prices ever achieved for a motor car at auction.