A beautiful 1962 Ferrari 250 GTO recently went to auction in Monterey, California, and it was expected to bring in quite a bit cash. But even the high end of the estimate spectrum fell short.
The classic speedster surpassed all expectations by selling for $48.405 million at RM-Sotheby’s auction. The Ferrari’s sale broke the world record for the most expensive auto sale at auction by more than $10 million.
The iconic racing model frequently inspires bidding wars. The former record-holder for most expensive auto sold at auction was also a Ferrari 250 GTO; that example sold at auction in 2014 for $38.115 million. The 250 GTO is an important piece of racing history, and was a track dominator between 1962 and 1964.
This particular Ferrari, #3413GT, previously belonged to Dr. Greg Whitten for 18 years. Whitten is a former Microsoft Chief Software Architect, and a noted auto enthusiast and collector.
Earlier this year, another 250 GTO changed hands privately for as much as $80 million.