Ferrari 250 GTO smashes auction record - selling for over £22m | Car Talk - Car News Aug 2014

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12:25 Monday 18 Aug 2014

A 1962 Ferrari 250 GTO has broken the price record for a car sold at auction after it fetched an eye-watering $38,115,000 during Monterey Car Week in California.

That price, achieved during the sale conducted by Bonhams auctioneers, is equivalent to roughly £22,832,000.
The model in question was the 19th Ferrari 250 GTO emerge from the Maranello factory, delivered to 1960s sports car racing star Jo Schlesser.  When it was acquired in 1965 by its most recent owner – Ferrari collector and enthusiast Fabrizio Violati – it cost 2,500,000 lire, which at the time equated to £1,400 sterling, or £22,000 in today’s money.  That means the car’s value has appreciated over a thousand-fold in real terms during the past half-century, cementing the almost mythical status of the 250 GTO. 
Bonhams did not release the identity of the buyer of the record-breaking car.
Ferrari have been performing well in all auctions at this week’s Monterey festival and the total prices feched by Bonhams auction house have reached $65 million. Other exceptional sales have incuded a 1958 Ferrari 250 GT Series 1 Cabriolet for $6,820,000, a 1953 Ferrari 250 Mille Miglia Berlinetta at $7,260,000, a 1969 Ferrari 365 GTB/4 ‘Daytona’ Berlinetta Competizione for $935,000, a 1962 Ferrari 250 GT Short-Wheelbase Speciale Aerodinamica at $6,875,000 and a 1978 Ferrari 312 T3 Formula 1 Racing Single-Seater fetching $2,310,000.

 


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