1962 Ferrari 250 GTO #3413 sells for a WHOPPING $48.4 million

A 1962 Ferrari 250 GTO – chassis 3413 – has sold at auction in Monterey for a huge $48.4 million (£37.7 million), the most expensive car ever auctioned.

Back in June we reported that Ferrari 250 GTO, chassis 3413, was heading for RM Sotheby’s Monterey sale this month, and was expected to fetch around £34 million. But it did a bit better.

The hammer price was $44 million, and by the time auction costs were added the new owner was left with a bill of $48.4 million (£37.7 million) for the 250 GTO.

This 250 GTO is the third car ever built, and was driven by Phil Hill during the 1962 Targa Florio, was sold off to Edoardo Lualdi-Gabardi who did a bit of racing and then it found a home with Gianni Bulgari, who went on to win the 1963 and ’64 Targa Florio in it. It eventually ended up in the hands of Dr Greg Whitten, one of the Microsoft pioneers.

It’s a huge sum of money to pay, even for one of the just 36 250 GTOs built, but although it’s a public auction record price it does pale a little compared to the reported private sale of 4153GT for $70 million (£52 million) back in June.

That private sale at such a huge price probably helped this 250 GTO do a bit better than expected; until that huge sale was reported 250 GTO prices looked to have settled, or even fallen a bit, with 250 GTO S/N 5111 selling for £32 million in 2013, and in 2014 250 GTO #3851 for £23 million.

How much will the next Ferrari 250 GTO fetch?

Ferrari 250 GTO, chassis 3413 GT, Video