Friday, November 11, 2016

1962 Ferrari 250 GTO set to become world's most expensive car at £45 million

The Holy Grail of classic cars, the 1962 Ferrari 250 GTO (Gran Turismo Omologato) is one of the world's most sought after. This was the second to roll off the production line. Only 36 were made.

It raced at Le Mans and Sebring and, despite being almost 55 years old, is still capable of 0 to 60mph in around six seconds and a top speed of more than 170mph. Bonhams sold a Ferrari 250 GTO at a US auction in 2014 when it went for $38 million (£30 million). The last time a GTO was auctioned before that was in 1990.
The car was built in March 1962 and used by the Ferrari factory for testing before it was sold to Luigi Chinetti's North American Racing Team. In 1969 it was sold for $5,400 and then again, later that year, for $11,000. The car changed hands in 1975 when it was sold for $13,000. The car was restored and made $ 125,000 in 1978.