1962 Ferrari 250 GTO could become world’s most expensive car

RM Sotheby’s to sell highly original Ferrari 250 GTO, which could become the most expensive car ever sold at auction

A Ferrari 250 GTO will go under the hammer at RM Sotheby’s Monterey auction in August, and it could become one of the most expensive cars ever auctioned, carrying an estimate of $45 million (£34 million).

Widely revered as one of the ultimate collector’s cars, the 250 GTO has claimed close to 300 overall racing victories worldwide.

Most expensive cars ever sold at auction

This particular 1962 250 GTO on offer is the third of the 36 examples built, bearing chassis no. 3413 GT. It began its life as a Series I car and claimed victory in all but one of ten races entered in 1962. Remarkably for a race car, it retains its original engine, gearbox, and rear axle, as well as its factory Series II body, fitted by Carrozzeria Scaglietti in 1964.

Owned since 2000 by former Microsoft chief software architect Dr. Greg Whitten, RM Sotheby’s claims that previous owners include some of the world’s most prominent Ferrari collectors.

Under Dr. Whitten’s ownership, the GTO has competed in vintage events around the world over the last two decades, as well as four of the lauded GTO anniversary tours.

Your guide to buying a car at auction

Earlier this year, it was rumoured that the private sale of a pristine, early example saw £52 million change hands. This example, used by Ferrari as a test car for Phil Hill ahead of the 1962 Targa Florio road race, looks set to be the most expensive car ever sold at auction should its £34 million plus estimation hold out.

The current record holder is another 1962 Ferrari 250 GTO, which fetched over $38 million (£28.7 million) in 2014.

Check out the top ten most expensive cars ever sold at auction

Recommended

Apple iPhone designer Jony Ive to work with Ferrari
Marc Newson and Jonathan Ive
Ferrari

Apple iPhone designer Jony Ive to work with Ferrari

New collaboration will see ‘creative projects’ in the luxury sector but stops short of confirming automotive plans
28 Sep 2021
GTO Engineering unveils Ferrari 250 GT California Spyder remake at Goodwood Revival
Ferrari 250 GT California Spyder remake - front static
Ferrari

GTO Engineering unveils Ferrari 250 GT California Spyder remake at Goodwood Revival

Ferrari specialist GTO Engineering reveals recreation of one of Maranello’s finest at this year’s Goodwood Revival
15 Sep 2021
Ferrari unveils three-quarter-scale 250 Testa Rossa EV replica
Ferrari 250 Testa Rossa EV replica
Ferrari

Ferrari unveils three-quarter-scale 250 Testa Rossa EV replica

The Ferrari Testa Rossa J children’s ride-on was built in tandem with The Little Car Company, and will cost around £79,000 before taxes
9 Aug 2021
Ferrari Classiche: restoring Maranello's classics
Ferrari Classiche
Ferrari

Ferrari Classiche: restoring Maranello's classics

We head to Italy to see how Ferrari Classiche is keeping the brand's classics in concours condition
23 Jul 2021

Most Popular

New 2022 Range Rover leaks: first look at new Land Rover flagship SUV
Range Rover leak - front
Land Rover Range Rover

New 2022 Range Rover leaks: first look at new Land Rover flagship SUV

Images of what could be the next Range Rover have appeared on social media ahead of next week’s reveal
21 Oct 2021
New Michelin Uptis airless tyre blows in ahead of 2024 launch
Michelin Uptis
News

New Michelin Uptis airless tyre blows in ahead of 2024 launch

The new airless Michelin Uptis is made from rubber and fibreglass and promises to be longer lasting, fuel-saving and recyclable
20 Oct 2021
New Kia EV6 2021 review
Kia EV6 front tracking
Kia EV6

New Kia EV6 2021 review

With a sporty drive, 300-plus miles of range and plenty of tech - could the new Kia EV6 be one of the best electric cars on sale?
19 Oct 2021