Ferrari 250 GTO fetches $38M in US auction

At the Bonhams auction, records were shattered as the 1962/63 Ferrari 250 GTO, chassis number “3851GT”, sold for $38,115,000 USD. This is the most ever paid for an automobile at auction, underscoring the unrivalled desirability for Ferrari in the collector car market and the continued dominance of the brand at auctions worldwide.

This Ferrari 250 GTO is now, effectively, the most valuable and coveted car in the world.

This car was the 19th Ferrari GTO to be completed and was invoiced on September 11, 1962.  It was most recently owned by Italian enthusiast Fabrizio Violati and was the centerpiece of his Collezione Maranello Rossoof precious Ferraris previously on view to the general public in the Republic of San Marino.

Violati acquired this 250 GTO in 1965 for 2,500,000 Lire, then around $4,000 USD or £1,400 Sterling, equating to around £22,000/$33,500 today. It was originally finished in metallic pale grey with lengthwise red, white and blue centerline stripes when acquired by its first owner, French privateer Jo Schlesser.

No other mark is commanding attention and achieving such spectacular values so far in Monterey like Ferrari, with total Ferrari sales at Bonhams totalling just under $65 Million USD.  Additional notable sales today at Bonhams include:

1958 Ferrari 250 GT Series 1 Cabriolet – $6,820,000 USD

1953 Ferrari 250 Mille Miglia Berlinetta – $7,260,000 USD

1969 Ferrari 365 GTB/4 ‘Daytona’ Berlinetta Competizione – $935,000 USD

1962 Ferrari 250 GT Short-Wheelbase Speciale Aerodinamica – $6,875,000 USD

1978 Ferrari 312 T3 Formula 1 Racing Single-Seater – $2,310,000 USD