Auction

Ferrari 250 GTO Fetches Record-Breaking $48 Million At Auction

But it’s not the most expensive Ferrari 250 GTO ever sold, believe it or not.

The Ferrari 250 GTO is one of the most desirable classic cars in the world, it’s also the one of the most expensive. It typically sells for tens of millions of dollars at auctions, having held the record for the most expensive car to ever sell at auction since 2014 when a 1963 model sold for a staggering $38.1 million. And guess what? That record has been beaten by another Ferrari 250 GTO at RM’s Sotheby’s Monterey sale by more than $10 million, after a 1962 example sold for a record-breaking $48,405,000. Chassis 3413 GT was the third of 36 examples ever built and was initially used as a test car by Ferrari.

It has a lot of racing history too, as the car was driven by Formula 1 World Champion Phil Hill during the 1962 Targa Florio. In the same year, the car won the Italian GT Championship and came first in class at both the 1963 and 1964 Targa Florio. “This marks just the third time that a GTO has been offered for public sale in the new millennium. [It is] Ferrari’s most successful racer and the world’s most sought-after collector car, full stop,” said Shelby Myers, car specialist for RM Sotheby’s.

As if the car wasn’t already rare enough, it’s also one of just four upgraded in period by Scaglietti with Series II GTO/64 coachwork. Only seven examples received this aggressive bodywork out of the 36 250 GTOs that were produced. The car’s most recent owner was Dr Greg Whitten, a former chief software architect at Microsoft who bought the car back in 2000, but it isn't known how much he paid for it at the time. After this sale, he must now be rolling in it.

While this 1962 Ferrari 250 GTO is now the most expensive car to ever sell at auction, it’s not the most expensive car sale of all time. That honor goes to, you guessed it, another Ferrari 250 GTO that was privately sold to American car collector David MacNeil for $80 million.

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