The 1962 Ferrari 250 GTO becomes the most expensive Ferrari sold at auction – Cars, the first Arab car website

Cars – A 1962 Ferrari 330 LMO 250 GTO made history at the Marche Modern and Contemporary Art Week sales last weekend. The car was sold for a record price of $51,705,000. It is officially the most expensive Ferrari ever sold at auction. However, it is not the most expensive Ferrari ever, as two 250 GTOs have sold for a higher price through private sales. This car here, which was sold at auction, has chassis number 3765 and has now entered the list of the most expensive Ferrari cars and is in third place.

As the only factory-owned 250 Series car, the GTO competed in a series of racing events. This included the 1962 Nürburgring 1000 km race, where it took a class win and finished second overall. In the same year, it participated in the 24 Hours of Le Mans, where Lorenzo Bandini and Mike Parks drove it for Scuderia Ferrari.

The 250 GTO family includes cars such as the 288 GTO, F40, F50 and LaFerrari. In 1964, the car was sold for only $6,000 and participated in the Sicilian Hillclimb Championship, where it won second place.

Between the 1960s and the mid-1980s, the 250 GTO was sold several times and ended up in America after an enthusiast from California bought it. In 1985, the car was sold to Jim Geiger, a prominent car collector in Ohio. Geiger has owned the car for nearly four decades.

After purchasing the car for the equivalent of $500,000, the car collector restored it in Florida. The car was then displayed in many events and won many awards. With only 36 available, the 250 GTO is a sought-after car. However, this model here is even more special, thanks to its 4.0-liter engine.

It is the only model that was initially equipped with a larger engine, unlike the 3.0-liter engine found in other cars. However, the original engine departed from the car in favor of a 3.0-litre Colombo V12, which remains in it today. The identity of the new owner has not been revealed.