In a recent private transaction, a 1963 Ferrari 250 GTO racer was sold for $52 million.
High end cars definitely don’t come cheap - ranging from hundreds of thousands to millions of dollars. In a recent private transaction, a 1963 Ferrari 250 GTO racer was sold for $52 million.
That astounding price has made the vehicle the world’s most expensive car. Described as a red competition automobile, it was previously owned by a collector based in Greenwich, Connecticut.
The information concerning the new buyer has not been released. According to a dealer in California “Today the GTO is considered the top car to own. It’s like the Mona Lisa. It has a mystique. If you have a GTO, you have a great collection.”
There is a huge market for classic cars, especially the GTO, as the new selling price is reported to be a 49 percent increase on the record for any vehicle. In early 2012, a 1964 Ferrari 250 GTO was sold for $32 million and several months later, a 1962 model, which was built for Sir Stirling Moss, landed $35 million.
There are only 39 250 GTOs in existence today.