Could this 1962 Ferrari 250 GTO by Scaglietti become the most valuable car ever offered at auction?

The Ferrari GTO stands as one of the most beautiful and exclusive cars of all time, and it boasts a racing record to back up its unparalleled collectibility. For one lucky car collector, the RM Sotheby's Monterey auction will offer the chance to own one—provided the purse strings can handle the price. That price could be the highest ever for an auction car.

This particular 1962 Ferrari 250 GTO by Scaglietti is the third of just 36 250 GTOs ever built. Wearing chassis number 3414 GT, the 1962 model has traded hands over the years, but each documented owner has taken care to preserve the historic car and its lineage.

Ferrari built the car in 1962 and it served as a test car for driver Phil Hill during that year's Targa Florio road race. The first owner was one of Ferrari's favorite private customers, Edoardo Lualdi-Gabardi. The racer entered the 1962 250 GTO in 10 races in 1962 and won every event minus one where he placed second. 

After owning the car for just one year, Lualdi-Gabardi received a second 250 GTO in 1963 and sold the car to Gianni Bulgari. Bulgari, who would lead the famous jewelry brand, entered the car and won its class at the 1963 and 1964 Targa Florio.

Throughout its life, this 250 GTO competed in 20 races and was never once involved in a wreck. In fact, it retains the original engine, transmission, and rear axle. Scaglietti wrapped the car in a Series II body in 1964, which it also still wears.

The car is currently owned by Dr. Greg Whitten, who was previously chief software architect for Microsoft. Whitten has taken the car to various vintage motorsport events for the past 20 years and participated in four of the well-known GTO anniversary tours.

Just how much could this 250 GTO go for at auction? This past January, one 250 GTO brought in a record-setting $70 million. Another model sold for $52 million prior to that.

We'll find out if this Ferrari 250 GTO will set a new auction record when it crosses the block at the RM Sothebys Monterey auction set for August 24-25.

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