1962 Ferrari 250 GTO Sells for a Record-Setting $38 Million
Just like that, somebody is leaving this week’s Bonhams’ Quail Lodge Auction significantly poorer — but with a vaunted 1962 Ferrari 250 GTO in tow.
The car, which has remained the hot topic for auction-goers, crossed the block on Thursday at no reserve and sold for a whopping $38,115,000. Thus, becoming the world’s most expensive car ever sold at auction, a claim previously held by a 1954 Mercedes-Benz W196 that sold for $30 million at Bonhams’ Goodwood sale last year.
Ferrari’s most coveted sports car came to life in the same way that many of the greats did – motorsport. Ferrari developed the 250 GTO to compete in the 1962 3-liter class at the FIA GT World Championship. And compete it did. The Ferrari 250 won the championship back-to-back in 1962 and 1963. It’s also arguably one of the prettiest cars ever built. In total, Ferrari manufactured 39 GTOs, of which only 28 have the 3.0-liter V12, making them true '250' GTOs. This rare example carries with it a long history of notable provenance, including original ownership by French racer Jo Schlesser.
It wasn’t the only talked-about-in-whispers Ferrari to sell at the auction either. Ten highly sought-after Prancing Horses crossed the block for a colossal $65 million, including a 1953 250 Mille Miglia Berlinetta driven to victory by Phil Hill ($7.26 million) and a 1978 312 T3 Formula One car ($2.31 million).