FERRARI 250 GTO SETS RECORD AT AUCTION
Classic car prices are going through the roof with every auction that takes place. This time an ultra rare 1962 Ferrari 250 GTO set the record with a final bid of $34,650,000. After adding in the ten percent sales commission for the Bonham auction house, the final price for the vintage Ferrari came to $38,115,000. This is an $8 million increase over the last 250 GTO to come up for auction.
Within a minute of the opening bid, the price of the GTO rose from the $11 million starting price up to $31 million. The additonial $3.5 million in bids were delivered in $100,000 increments until the final price was reached. Even with a record breaking performance at auction, many experts still believed that this ultra rare example of the Ferrari 250 GTO should have went for much more.
Considered by many to be the most desired vintage Ferrari, this 1962 Ferrari 250 GTO is chassis number 19 of just 39 ever made. The car was originally owned for a short period of time by a French race car driver who crashed this particular example and then died shortly after. Upon restoration, this Ferrari remained with the same owner for 50 years before going to auction.