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NEWS

Welcome to our latest news page. Here we'll be discussing what's new in the classic car industry.

  • Ferrari 250 GTO sells for £48.4 Million!

    by Garry Shortt | Sep 1, 2018

    It’s been only a few days since everyone began bemoaning the absurd price of the Bugatti Divo. At £4,500,000, it’s expensive enough to make even

    the most ostentatious of oligarchs swallow their Adam’s apple in shock.

    The car that sold just yesterday at an auction in California however makes the Divo look like a bit of Primark amongst Armani.

    This very beautiful Ferrari 250 GTO you see here - sporting the rather lovely Series II body - just sold for an absolutely gobsmacking $48.4MILLION!!

    That’s just over £37,500,000 for those of you on this side of the pond. In other words, you could buy 8 Bugatti Divos for the price of this

    one car and still have £1.5million change!!

    This breaks the record for the most expensive car sold at a public auction. Notice the use of the word “public”, because a couple of months ago

    at a private auction, a different 250 GTO sold for a staggering $70MILLION!!

    The GTO that sold yesterday is a particularly special one, as it was the 3rd of the 36 cars to come off the production line.

    It was then thoroughly put through its paces by Formula 1 world champion Phil Hill in preparation for the 1962 Targa Florio.

    We can only presume his testing did some good, because the car went on to win the TF for the following 2 years, and it also won

    the Italian National GT Championship in 1962.

    Today, it still retains its original engine, gearbox, and body. Having been in the collection of Gregory Whitten for two decades,

    it’s now gone to another home for the price of nearly fifty-million dollars!

    Written by: Angelo Uccello

    Tribe: Speed Machines

    Photo credits: RMSotheby's

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