A 1962 Ferrari 250 GTO has become the most expensive auction car ever, fetching a price of $48.4 million at the Monterey Car Week 2018. Surprisingly, the buyer’s name is still a secret but we know the seller is an ex-Microsoft employee, Greg Whitten. The previous auction record was held by a 1963 250 GTO, which was sold off four years ago at a staggering price of $38.1 million.
The high auction value is justified though because 1962 250 GTO is a rare car. Ferrari only created 36 examples of the 62, which makes it very special. To top it all off, the auctioned car was part of four 62’ 250 GTOs to get an upgrade from Scaglietti.
Not only that, but the 1962 Ferrari 250 GTO was personally driven by Phill Hill in the Targa Florio race events where it won the first spot for two consecutive years. The car takes its power from a mean 3.0-liter V12 engine, which is the main reason behind its fame and legend.
The 250 GTOs have been regularly sold for millions of dollars owing to their popularity. A 63’ GTO sold for $70 million at the start of this year in a private transaction, and about 5 years ago, another sold for $52 million privately.