$38m for a second hand car


A 1962 Ferrari sells for a racy $38m.

The classic Ferrari 250 GTO (red, of course) has become the most expensive car ever sold at auction.

Ferrari 250 GTO

1962 Ferrari 250 GTO Image: Bonhams

This particular GTO Berlinetta came with a racing pedigree, having stormed to Second overall in the 1962 Tour de France Automobile and was described by auctioneers Bonhams as "active all its long life." Uniquely, the Ferrari had one effective owner for the first 49 years of its life.

One of only 39 GTOs ever homologated for racing, the final hammer price 'narrowly' beat the staggering $35m paid in 2012 for a similar model built for British racing driver Stirling Moss.

Ten highly collectable Ferraris, along with other motoring memorabilia, went under the hammer at the exclusive Quail Lodge and Golf Club in Carmel, California, putting nearly $65m through the books of the London-based auction house.