Record-Breaking Ferrari: 1962 250 GTO Fetches $51.7 Million at Auction

In a historic auction at Sotheby’s in New York, a 1962 Ferrari 250 GTO has secured its place as the most expensive car ever sold by the renowned Italian manufacturer, fetching an astounding $51.705 million. This remarkable sale marks the first time the car has been publicly offered in 38 years.

Gord Duff, RM Sotheby’s Global Head of Auctions, emphasized the unparalleled significance of this Ferrari, stating that the transaction “highlights the unparalleled stature of this Ferrari as one of the world’s most desirable objects.” Duff added, “This transaction adds a new chapter to a vehicle with an unmatched legacy.”

With only 39 of these iconic 250 GTOs produced by Ferrari between 1962 and 1964, parting ways with such a rare gem is an extraordinary event. The specific model, chassis number 3765, holds particular significance as one of just 34 featuring Tipo 1962 coachwork and the sole unit raced by the Scuderia Ferrari racing team. This unique car participated in prestigious races such as the Le Mans 24 Hours.

Described as having “unique build provenance and a remarkable in-period racing pedigree,” this 250 GTO has been showcased in various Ferrari-focused publications over the years. Sotheby’s suggests that the public availability of such an exceptional GTO may be a once-in-a-lifetime occurrence.

While chassis number 3765 now claims the title of the most expensive Ferrari ever sold at auction, it’s worth noting that another 250 GTO still holds the overall record. In 2018, car collector David MacNeil purchased chassis number 4153 GT for $70 million, solidifying the Ferrari 250 GTO’s status as a prized masterpiece in the world of high-end collections. James Knight, group motoring chairman at UK auction house Bonhams, aptly likened the 250 GTO to some of the most exclusive artworks, stating, “The Ferrari 250 GTO is the motoring market’s equivalent of Van Gogh’s ‘Sunflowers’ and a talisman for any top-end collection.”