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Most Expensive Car Ever Auctioned: 1962 Ferrari 250 GTO Sells for $48 Million

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Monterey car week is a great way to gauge the values of classic cars, especially numbers-matching Ferraris. We were at the Portola Hotel to witness history being made. Because our friend Derek Bell drove Chassis 3413 GT across the RM Sotheby’s auction block. The hammer fell at a whopping $44,000,000. With dealer fees, this comes to $48.2 Million, making it the most expensive car sold at auction. Here is our preview from last week:

RM Sotheby’s Hosts Most Valuable Car Ever Offered at Auction

This is a nice return on investment since they were $18,000 new. That was a fortune, considering the Corvette was considered expensive at $4,000. But nothing will ever match the style and elegance of the GTO. One of only a handful of vintage Ferraris not to be influenced by Pininfarina, the 250 GTO was a combination of Bizzarrini and Scaglietti to homologate the 250 for racing.

Only 36 examples were built, and this one was pushed to the limit. Phil Hill drove it to victory in the ’62 and ’63 Targa Florio. It also won 9 out of 10 Italian National GT races, taking home the championship in 1962. Other notable sales from Saturday night include a 1957 Porsche 550A Spyder ($4.9 Million), 1956 Maserati A6G/2000 Zagato ($4.5 Million), and a Mercedes-Benz AMG CLK GTR setting a new record at $4.5 Million. Our dealers have a nice selection of Ferrari 250 for sale, so click the link below to find your next investment.

Ferrari 250 For Sale!