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The Most Expensive Ferrari Ever Sold: The Story of the Iconic 1962 Ferrari 250 GTO

By Mathilda Bartholomew | November 15, 2023

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A 1962 Ferrari fetched an unprecedented $51.7 million (£42 million) at a Sotheby's auction in New York.

The remarkable red 330 LM/250 GTO model, the sole GTO Tipo 1962 raced by Formula 1's Scuderia Ferrari, has clinched the title of the most valuable Ferrari and the second-highest-priced car ever auctioned.

Termed a "once-in-a-generation" acquisition, the iconic vehicle, bearing chassis number 3765, changed hands after nearly four decades in private ownership.

Beyond its record-breaking sale, this model boasts a legendary racing history, securing second place at the 1962 Nürburgring 1,000km in Germany and achieving a second-place finish in the GTO class at the 2011 Pebble Beach Concours d'Elegance.

Previously owned by a Ferrari Club of America chairman, the "Holy Grail" hypercar earned accolades such as an FCA Platinum Award, the Coppa Bella Macchina at the Cavallino Classic, and a Best of Show at the Amelia Island Concours d'Elegance in Florida.

Driven by Mike Parkes and Lorenzo Bandini for Scuderia Ferrari at the 1962 24 Hours of Le Mans race, it also secured the runner-up position in the 1965 Sicilian Hillclimb Championship.

Gord Duff, RM Sotheby's global head of auctions, remarked, "Celebrating this sale during Sotheby's marquee week highlights the unparalleled stature of this Ferrari as one of the world's most desirable objects." He added, "Now, it ranks among the most expensive cars sold at auction, a true testament to its singular place in history."

This collector's gem is among the rarest and most coveted sports cars, with only 36 models produced from 1962 to 1964, as reported by Forbes.

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