A Ferrari 250 GTO manufactured between 1962 and 1964 has just become the second most expensive vehicle in history, after being sold for an astonishing $51.7 million at a private auction held in New York City.
This particular vehicle was initially built with the intent of competing in prestigious events such as the 24 hours of Le Mans, the 24 hours of Daytona, and the 1,000 km of Nürburgring, Brands Hatch, and Monza. Only 39 of these vehicles were ever made, making them extremely rare and highly sought after by collectors.
What makes the 1962 Ferrari 250 GTO even more special is that it was the only one built with the 330 LM configuration and a larger engine, specifically designed for competing in the Le Mans race. The vehicle’s engine was required to be larger than 4 liters for this competition.
Additionally, this car was the only one of the 250 GTO examples to be the official car of Scuderia Ferrari, the Ferrari automobile sports division responsible for Formula competitions. It also featured prominent drivers such as Italian Lorenzo Bandini and British racer Mike Pakes.
Despite its storied history, the 1962 Ferrari 250 GTO faced challenges during its competitive years. In 1962, it participated in Le Mans with Lorenzo Bandini at the helm, ultimately finishing in fifth place due to difficulties on a sandbar and later retiring on lap 56 due to overheating.
After changing hands a few times, the vintage sports car became the property of Fred Leydorf, president of the Ferrari Club of America (FCA), who restored it to its original form with a 3-liter V12 engine.
Ultimately, the car was auctioned at RM Sotheby’s, where it was expected to fetch $60 million. However, the $51.7 million price tag made it the second most expensive vehicle in history, behind the Mercedes-Benz 300 SLR Coupé Uhlenhaut from 1955, which was offered for a staggering $143 million in May 2022 in Stuttgart.
In addition to the Ferrari 250 GTO and the Mercedes-Benz 300 SLR Coupé Uhlenhaut, other collector cars have also fetched hefty prices. The Ferrari 333 Sport Scaglietti from 1957, which was piloted by Stirling Moss and Mike Hawthorn, was sold in 2016 for $35.71 million. Known for its sportiness and elegance, this car exemplifies the golden age of Italian racing vehicles from the 1950s.