Ferrari 250 GTO sells for $28.7M at auction

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Ferrari 250 GTO

Ferrari 250 GTO

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A British man, wishing to remain anonymous, has purchased what is now the most expensive car in the world—one of the few Ferrari [NYSE:RACE] 250 GTOs built to secure homologation for the FIA's GT category.

Only 39 of the cars were ever built, and their rarity and desirability has long been high, just not £15.7 million (approximately $28.7 million) high.

The example that garnered the record-setting bid is a 1963 example, from the middle of the car's 1962-1964 production run, reports The Sun. It had previously been valued at about £11 million—a significant sum, to be sure, but at least 30 percent short of the final price.

Another Ferrari was the former record holder and now now-second-most-expensive car in the world. The 1961 Ferrari California Spyder claimed a bid of £5.4 million in May, just over one-third the cost of the 250 GTO.

Ferrari released an all-new California on Friday, expanding its lineup to four cars and adding even more draw to its already world-famous brand.

 
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