1962 Ferrari 250 GTO Is The Most Expensive Ferrari To Be Sold At Auction

A 1962 Ferrari 330 LM / 250 GTO by Scaglietti has become the most expensive Ferrari to cross the auction block, selling for a record-breaking $ 51.7 million at a RM Sotheby’s event in New York City. The car was previously owned by Jim Jaeger for nearly four decades.

The scintillating sale, conducted in less than 20 minutes, drew bids primarily from phone bidders. Ultimately, the auction boiled down to a riveting showdown between two bidders hovering around the $47 million mark. Both the winning bidder and the prized Ferrari were physically present during the auction, adding to the drama of the moment.

Finished in the trademark scarlet hue and sporting a No. 7 racing livery, this Ferrari stands as a unique piece of automotive history. Notably, it is the sole Ferrari GTO example equipped with a 4.0-litre engine and has the distinction of being the only factory GTO Tipo 1962 raced by Scuderia Ferrari. Its accolades include a class win and a second-place finish overall at the Nürburgring 1,000 km race in 1962. The car also participated in the 24 Hours of LeMans in the same year. Furthermore, in 2012, it was honoured with the Best in Show award at the prestigious Amelia Island Concours d’Elegance in Florida.

Although this sale broke Ferrari auction records, it falls short of the most expensive car ever auctioned—a 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupe that fetched a staggering $142 million (approximately Rs 1,108 crore) in 2022.

While this sale represents an exceptional achievement in Ferrari auction history, it does not hold the title for the most expensive 250 GTO ever sold. That honour goes to a private sale in 2018, when another 250 GTO exchanged hands for a staggering $ 70.2 million.

Image Credit: RM Sotheby's