A rare 1962 Ferrari 250 GTO sold for $34 million

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A Ferrari 250 GTO Berlinetta has become the most valuable car in history sold at auction, after it went for $38,115,000 – around £22,843,633. The 250 was one of ten Ferraris from the Maranello Rosso Collection being sold by Bonhams, at the Quail Lodge Auction in Carmel, California

The Los Angeles Times reports the US$38 million total price — including 10 per cent buyer fees — is half of what experts said it could fetch. One example reportedly sold for $52 million in a private transaction. A global bidding war involving both those in attendance in Carmel and buyers on the phones ensured the gorgeous Fezza managed to reach its $30-40m estimate.

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Robert Brooks, chairman of Bonhams, said: “We always maintained that we would exceed the current world record and that the car would bring between $30-$40 million, and the GTO did just that.” The car is one of just 39 Ferrari GTOs produced and was once owned by racer and retired Olympic gold medal skier Henri Oreiller, who died after crashing it into a building.