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Ferrari 250 GTO now the most expensive car ever

1962 Ferrari 250 GTO

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!

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Ferrari

1963 Ferrari 250 GTO sells for US$52 million

Ferrari 250 GTO

GTFO!

A 1963 Ferrari 250 GTO (chassis #5111) has sold privately for US$52 million, Bloomberg reports. Unsurprisingly that easily gives it the title of the world’s most expensive car. According to Ferrari just 36 of these were made, which in part explains the high demand for the classic V12-powered coupé.

The buyer of the high-priced 250 GTO remains anonymous for now, but the seller is US-based collector Paul Pappalardo, who purchased the car back in 1974. Pappalardo is keeping tight lipped about the sale. “We don’t confirm these things. I have no comment,” he told Bloomberg.com.

London-based Ferrari dealer Joe Macari says the 250 GTO is the must-have model for mega-wealthy Ferrari collectors. “It’s a cult car,” he said.”If you’re a billionaire, you feel you have to have one. I don’t understand the appeal of them. They’re not very beautiful and they never won Le Mans. I’d rather have a Testa Rossa.”

Quite.

[Source: Bloomberg | Pics: Ferrari]