Ferrari 250 GTO Sells for Record-Setting Price at Auction

Ferrari 250 GTO Sells for Record-Setting Price at Auction
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A brand new record has been set for the most expensive car to ever sell at auction. 

A 1962 Ferrari 250 GTO Berlinetta, one of only 36 built from 1961 to 1964, has sold for $38,115,000 at the Bonhams’ Quail Lodge Auction in Carmel, California. The 250 GTO surpasses the record by about $8 million, previously held by a 1954 Mercedes-Benz W196 R F1 Race Car that also sold at a Bonhams auction.

Originally, Bonhams had predicted that the car may go for as much as $60 million, but even a ferocious bidding war could not drive the price that high. The public gallery was full during the sale of this car, which was particularly exciting as it has been decades since a 250 GTO has changed hands at an auction. There was periods of silence interrupted by cheering and a final cheer erupted from the crowd when the car was finally sold.

This particular car was owned by Fabrizio Violati, a wealthy Italian amateur race driver who passed away in 2010. The 250 GTO was the last front engine coupe built for competition by Ferrari.

GALLERY: 1962 Ferrari 250 GTO Berlinetta

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