A 1963 Ferrari 250 GTO has sold in a private transaction for $52,000,000 making it the most expensive car ever sold.
Not especially gorgeous (though it is a looker, a real head turner) nor otherworldly powerful, the Ferrari 250 GTO repeatedly earns top prices thanks to its rarity and its racing pedigree. Today, it is believed that only 39 of the car that was built to compete in the storied Le Mans 24-Hours still exist. It, as is the case with many rare cars, a fine investment that does indeed reap a profit over time.
In fact, Ferraris as a whole have long done well in the private sales market. Sales of Ferraris from the 1950’s and 60s have been increasing about 15 percent a year for at least 30 years. However, some observers of the rare car market are warning that sales of Ferrari 250 GTO’s are blowing a bubble that will eventually pop.
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