A 1962 Ferrari GTO was recently sold at an auction for a massive amount of $51.7 million. This now becomes the biggest reselling amount ever recorded by any Ferrari model sold at an auction. The 1962 Ferrari 330 LM/250 GTO was auctioned by RM Sotheby on November 13 in New York City.
The auction for the Ferrari GTO started at $34 million and in just 20 minutes, it reached the final price of $47 million. After adding a 10 percent buyer's fee, the total amount reached a whopping $51.7 million.
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Even though the $51.7 million is the highest amount ever paid for a Ferrari at an auction and it is the most expensive amount for a car bought in 2023, it's still considerably less than what people expected it to be. "Its place in history is undisputed," Oliver Barker, chairman of Sotheby's Europe, said at the beginning of the sale.
The identity of the new owner of the Ferrari GTO hasn't been revealed publicly. However, previously it belonged to a collector named Jim Jaeger from Ohio for more than 40 years. This car is extremely rare for various reasons like having a No. 7 racing livery and is the only Ferrari GTO with a four-litre engine. It's also the only GTO Tipo 1962 raced by Scuderia Ferrari. Back in 2012, it even won the Best in Show prize at the Amelia Island Concours d'Elegance in Florida.
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Even though the 1962 Ferrari GTO got sold for a whopping $51.7 million, it's still not the most expensive car ever auctioned. That title goes to a 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupe which was auctioned for a whopping $142 million in 2022. However, talking about Ferraris, the GTO now holds the title for the priciest Ferrari ever auctioned, beating a 1962 Ferrari 250 GTO that went for $48.4 million in a RM Sotheby's auction back in 2018.