The 1962 Ferrari 330 LM/250 GTO was auctioned by RM Sotheby’s in 2023. (Image: RM Sotheby’s)
A rare described as the “holy grail of collector cars” has become the most expensive model of the ever sold at auction, fetching an astonishing £40 million.
The was auctioned by in New York in November 2023, setting a new record for the most valuable Ferrari ever sold publicly.
The , built more than 60 years ago, is considered one of the most sought-after cars in the world.
It was the only officially entered into competition by Ferrari’s own racing team, .
With a final hammer price of $51.7 million (£40 million), it became the third most expensive car ever sold at auction, just behind a (£45 million) and 1955 , which fetched $143 million (£112 million) in 2022.
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The Ferrari became the third most expensive car ever sold at auction. (Image: RM Sotheby’s)
“This is a true legend of motorsport and Ferrari history,” RM Sotheby’s said at the time of the sale.
“The car’s rarity, competition success, and factory heritage make it one of the most important vehicles in existence.”
Chassis number 3765 has a racing history that includes a class win and second-place overall finish at the 1962 Nürburgring 1000 KM.
It was also driven by Mike Parkes and Lorenzo Bandini for Scuderia Ferrari at the 1962 24 Hours of Le Mans.
Over the years, it changed hands several times, eventually coming under the ownership of a private collector who kept it for nearly four decades.
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The 1962 Ferrari 330 LM/250 GTO interior. (Image: RM Sotheby’s)
The Ferrari 250 GTO is widely regarded as one of the greatest sports cars ever built.
With only 36 examples ever made, each is a collector’s dream.
But this particular car stands apart as the only GTO equipped with a larger 4.0-litre V12 engine instead of the standard 3.0-litre.
And as a result, after its competitive years, it was owned by Ferrari enthusiasts, including a former chairman of the Ferrari Club of America.
Over the years, it won several awards, including an FCA Platinum Award and the Coppa Bella Macchina at the Cavallino Classic.
Classic cars have become one of the fastest-appreciating high-value assets. (Image: RM Sotheby’s)
It also placed second in the GTO class at the 2011 Pebble Beach Concours d’Elegance, an event celebrating some of the world’s finest classic cars.
While the Ferrari’s eye-watering price tag may be difficult to comprehend, classic cars have become one of the fastest-appreciating high-value assets.
Prices for rare models have outpaced the growth of fine art, wine, and even gold, making them a prime investment for the ultra-wealthy.
RM Sotheby’s described the auction as a once-in-a-lifetime opportunity. “This Ferrari is not just a car. It’s history, passion, and the ultimate symbol of automotive excellence,” the auction house said.