Will this be the most expensive car ever sold at auction?

1962 Ferrari 220 LM-250 GTO
1962 Ferrari 220 LM-250 GTO

As the sun set over the picturesque backdrop of Monterey, California, the annual Monterey Car Week witnessed its customary spectacle of high-stake auctions. Among the glittering array of million-dollar automobiles, one remarkable gem, the 1962 Ferrari 220 LM-250 GTO, shone with an extraordinary allure. Unlike the majority of classic cars on display, this legendary Ferrari wasn’t up for grabs on that illustrious evening.

This exceptional vehicle, an embodiment of automotive artistry, represents a one-of-a-kind creation, unparalleled in both its heritage and originality. It hails from an era when the world of racing and luxury automobiles were intricately interwoven. The opportunity to own this spectacular vehicle is coming, but the price tag won’t be for the faint of heart.

1962 Ferrari LM-250 GTO History

RM Sotheby’s

This Ferrari, with its distinctive history, stands apart. Only three of its kind were ever manufactured, each having the honor of being raced by the factory during its heyday. This particular GTO holds a distinct engine from the factory, making it an exceptional rarity even within the GTO family. What makes this particular car so special? Here’s a few Ferrari facts:

  • The only GTO Tipo 1962 raced by the Scuderia Ferrari
  • Achieved a class win and 2nd overall finish at the 1962 Nürburgring 1000 KM
  • Driven by Mike Parkes and Lorenzo Bandini for the Scuderia Ferrari at the 1962 24 Hours of Le Mans
  • Runner-up in the 1965 Sicilian Hillclimb Championship
  • Previously owned by a chairman of the Ferrari Club of America
  • Benefitted from 38 years of meticulous care under current ownership
  • Honored with an FCA Platinum Award and the Coppa Bella Macchina at the Cavallino Classic
  • Secured 2nd place in the GTO class at the 2011 Pebble Beach Concours d’Elegance, among 23 total GTOs
  • Named Best of Show at the Amelia Island Concours d’Elegance
  • Well-documented with copies of factory build sheets, owner’s correspondence, period racing coverage, and magazine feature articles

When and how much will the 1962 Ferrari LM-250 GTO sell for?

The 1962 Ferrari 220 LM-250 GTO was unveiled to the world on that Thursday evening, prompting fervent anticipation among automobile aficionados and experts. Proclaiming it as the future record holder for the most expensive car ever sold at a public auction is not a mere conjecture; it is a statement of fact.

This masterpiece in motion is not confined to the automotive realm. Its universal appeal extends beyond car enthusiasts to those who covet the best of the best, be it in cars, residences, or works of art.

RM Sotheby’s

While the Ferrari made its debut at Monterey Car Week, eager collectors must wait until November 13. It’s price will be immortalized with the swing of a gavel during an RM Sotheby’s auction in New York.

In the hierarchy of high-priced automobiles, the 1962 Ferrari 220 LM-250 GTO is positioned to redefine the limits. At a projected valuation by RM Sotheby’s exceeding $60 million, and the boldest enthusiasts daring to dream of a breathtaking $80 million, it is set to make history.

What is the most expensive car ever?

1955 Mercedes Benz 300 SLR Uhlenhaut coupe. (Mercedes-Benz)

The current record for the highest price paid for a car at public auction stands at a remarkable $48 million. A different 1962 Ferrari 250 GTO secured this figure. But now, the horizon of expectations is broadening. However, even $48 million does not claim the top spot.

In the rarefied world of collectible cars, the standing champion of private sales remains the 1955 Mercedes Benz 300 SLR Uhlenhaut coupe. In a 2022 invite-only, secret auction held by Mercedes-Benz, this masterpiece commanded an astronomical sum of $143 million. What automotive masterpiece will top that?

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