1962 Ferrari 250 GTO Berlinetta sold for $38 million at Bonhams’ Quail Lodge Auction

Article by Andrew Christian, on August 15, 2014

A Ferrari has just broke the record for the most valuable car sold at auction and took the title from the 1954 Mercedes-Benz W196 R F1 Racer that fetched $30 million at Bonhams’ Goodwood Festival of Speed Auction last year. The car we are talking about is a 1962 Ferrari 250 GTO Berlinetta (chassis number '3581GT') and was sold for an impressive $38,115,000 at Bonhams’ Quail Lodge Auction in Carmel, California.

For those who don’t know, Ferrari produced only 39 units of this model, from 1962 to 1964. When it was launched, the 250 GTO has a price tag of $18,000 in the United States and those who wanted one had to get the personal approval from Enzo Ferrari as well as from his dealer located in North America, Luigi Chinetti.

36 cars were made between 1962 and 1963, while the 250 GTO Series II was introduced in 1964 with a new design. Still, only 3 models from the Series II were produced and other four Series I models received a Series II body.

Each vehicle used a 3.0-liter V12 engine producing 300 hp and bolted to a 5-speed manual transmission. The Ferrari 250 GTO is known as the ‘Greatest Ferrari of all Time’ thanks to its curb weight of just 880 kg (1,940 lb).

Says Robert Brooks, Chairman of Bonhams, "It's been a genuine privilege to represent this outstanding car and we are absolutely delighted with today's results. We've always maintained that we would exceed the current world record and that the car would bring between $30-$40-million and today the GTO did just that." [source: Bonhams]

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