Ferrari 250 GTO now the most expensive car ever

Thanks to market demands and well funded egos the title of the world’s most expensive car is a fluid thing. The current title holder is this 1962 Ferrari 250 GTO which just sold at auction for a shade under AU$41 million.

Sold by Bonhams as part of the Pebble Beach festivities in California this weekend the car was introduced with the following text:

The Ferrari 250 GT ‘Omologato’ needs little introduction as the most iconic, most habitable, street-useable, race-winning, World Championship-winning – and simply gorgeous – closed two-seat Coupe car from the world-famous Maranello factory. The GTO was developed to contest the 1962 3-litre class FIA GT World Championship series of classical endurance racing events. Selective production at Maranello and in the Scaglietti body plant in Modena ran on through the 1963 FIA GT World Championship and – sure enough – the Ferrari 250 GTO won the World title both seasons in succession.

Chassis 3851GT was last purchased in 1965 by Fabrizio Violati, then a young Ferrari enthusiast, who has kept the car for 49 years. The car’s original owner was French racer Jo Schlesser, who ensured his 250 GTO saw plenty of competition.

It’s a beautiful car with outstanding heritage and the sound of its screaming 3 litre V12 would be hard to put a price on. Still, $40 million plus would buy you a fleet of some truly outstanding cars!

Record: a 1962 Ferrari 250 GTO auctioned for over 38 Million USD

Maranello, 16 August – At the Bonhams auction, records were shattered as the 1962 Ferrari 250 GTO, chassis number 3851 GT, was sold for $38,115,000 USD. This is the most ever paid for an automobile at auction, underscoring the unrivaled desirability for Ferrari in the collector car market and the continued dominance of the brand at auctions worldwide.

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.

No other mark is commanding attention and achieving such spectacular values so far in Monterey like Ferrari, with total Ferrari sales at Bonhams totaling just under $65 Million USD. Additional notable sales include:

• 1958 Ferrari 250 GT Series 1 Cabriolet – $6,820,000 USD
• 1953 Ferrari 250 Mille Miglia Berlinetta – $7,260,000 USD
• 1969 Ferrari 365 GTB/4 ‘Daytona’ Berlinetta Competizione – $935,000 USD
• 1962 Ferrari 250 GT Short-Wheelbase Speciale Aerodinamica – $6,875,000 USD
• 1978 Ferrari 312 T3 Formula 1 Racing Single-Seater – $2,310,000 USD

IMAGES COURTESY OF BONHAMS