PEAKLIFE

The 1962 Ferrari 250 GTO sold for world-record $48.4 million at an auction

A 1962 Ferrari 250 GTO was auctioned for $ 48.4 million at the recent RM Sotheby’s annual event at Monterey, California.

Up until now, a 1962-63 Ferrari GTO, which sold for $38 million at a 2014 Bonhams auction held that distinction. These prices include a 10% “buyer’s premium” paid to the auction company.

It is said that an ex-Microsoft employee brought the car. Only 36 250 GTO was made and All 36 of the 250 GTOs ever made are still running and their ownership has created a very exclusive club. Ferrari 250 owners know one another and sometimes get together for road rallies.

Classic Ferrari GTOs are extraordinarily valuable for a number of reasons. First, they were, and are, simply very beautiful cars. Second, these were some of Ferrari’s most successful racing cars. There have been more successful models, such as the 250 LM, which has its engine mounted behind the driver, but the front-engined GTO is more popular because it’s easier to live with and drive.

This Ferrari 250 GTO is now, effectively, the most valuable and coveted car in the world.

This car was the 19th Ferrari GTO to be completed and was invoiced on September 11, 1962. It was originally finished in metallic pale grey with lengthwise red, white, and blue centerline stripes when acquired by its first owner, French privateer Jo Schlesser, who was also a Formula 1 driver.  Its last owner was Italian Fabrizio Violati and the car was part of his Collezione Maranello Rosso.