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Home / News / Ferrari 250 GTO is Newest World’s Most Expensive Car at $52 Million

 

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.

 

About the author: Andrew Greene

 

Now playing the role of grumpy old man in the foothills of Northern California’s Gold Country, Andrew has had a life-long love affair with vehicles of all sorts, from the bicycle he pedaled across the continent in 1991 to the armored personnel carriers he drove in the Army to the bamboo rafts, elephants, motorcycle taxis, ferries and buses he traveled by during the 13 years he lived and worked in South East Asia. Always eager to learn more about how the people of the world get from here to there in their day-today lives, he, a professional journalist, has been covering the vehicle industry for years.

 

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