Rs 340 crore for a car! 1962 Ferrari 250 GTO becomes most expensive car ever to be auctioned

Ferrari 250 GTO has always been special with the aficionados. Only 36 examples were built, so it was quite rare since the very beginning. But what's more incredible is that all 36 of them are still up and running.

By: | Published: August 27, 2018 5:38 PM
1962 Ferrari 250 GTO 1962 Ferrari 250 GTO

A 1962 Ferrari 250 GTO has become the most valuable car the world has ever seen, recently being auctioned for $48.4 million (approximately Rs 340 crore). It was in June when we reported that the GTO could possibly be auctioned for about Rs 306 crore. But clearly, the actual proceedings have surpassed the expectations. The 250 GTO was auctioned at RM Sotheby's annual Monterey collector car sale, setting a world record for any car ever sold at auction.

Over the years, the 250 GTO has gone on to become the car collector’s “holy grail”, and that all comes from its incredible pedigree, but also because of a group of French collectors who brought together GTO owners for the first time in 1982.

While this is an incredibly massive sum of money for a car, but it is only going to go even higher. Previously, German race car driver Christian Gläsel sold his 1963 Ferrari 250 GTO chassis 4153 privately for at least $70 million (approximately Rs 477 crore) to David MacNeil. And now. Ferrari expert and historian Marcel Massini says that MacNeil's Ferrari will sell for over $100 crore in the next two-three years.

Ferrari 250 GTO has always been special with the aficionados. Only 36 examples were built, so it was quite rare since the very beginning. But what's more incredible is that all 36 of them are still up and running. Their ownership has, of course, created a very elite and exclusive club.

This particular Ferrari 250 GTO is the third to ever have been built and has been a race winner. Ferrari’s 250 GTO was effectively the final evolution of the marque’s famous 250 model, which debuted in 1953 and ended with the last GTOs in 1964.

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Widely considered the most beautiful Ferrari design, the model was one of the most successful road/racing cars that the marque ever built, claiming overall victory or 1st in class in nearly 300 races worldwide.

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