Gallery: This rare 250 GTO just became the most expensive Ferrari ever sold

Published Nov 15, 2023


A 1962 Ferrari 250 GTO sports car sold for $51.7 million (R943 million) in New York on Monday, making it the second most expensive car ever sold at auction, RM Sotheby's said.

The bright red roadster had been the property of an American collector for the past 38 years, and its auction price was surpassed only by that of a Mercedes 300 SLR Uhlenhaut Coupe that went for 135 million euros in 2022.

The 250 GTO went on sale Monday evening after a few minutes of bidding in the auction room, but at a price lower than the more than $60 million (R1.09bn) expected by RM Sotheby's, the luxury car subsidiary of the auction house.

Sotheby's did not identify the winning bidder.

Dating from 1962, the legendary Scuderia sports car - chassis 3765, with a four-litre V12 engine developing 290kW - had finished second in a race of 1,000 kilometers on the German Nurburgring circuit, as well as in the legendary 24 Hours of Le Mans, where the team had to withdraw due to engine failure, according to RM Sotheby's.

After several years of competition on the Italian mainland and in Sicily, the car was sold and exported to the US in the late 1960s.

Picture: Kate Clendenning / RM Sotheby's.

Restored and modified, the 250 GTO changed American owners several times before ending up in the hands of an Ohio "dedicated collector" in 1985, who sold it on Monday.

"This stunning GTO offers its next caretaker further touring and vintage racing enjoyment, or display at major concours d'elegance and marque gatherings worldwide," Sotheby's said.

The Mercedes 300 SLR Uhlenhaut Coupe that fetched 135 million euros in 2022 was one of only two examples of the sport car. It sold at a confidential auction at the German manufacturer's museum in Stuttgart and was the most expensive car ever sold worldwide, whether at auction or privately, a RM Sotheby's spokesman told AFP.

Picture: Kate Clendenning / RM Sotheby's.

"Whatever happens in the financial markets, a car of this caliber is a collector's item, a once-in-a-lifetime opportunity," Michael Caimano of RM Sotheby's told AFP before the car sale, comparing the Ferrari to a work of art that "can be touched, felt and heard."

Agence France-Presse