How Much Will You Pay For A 1963 250 GTO Ferrari Racer?? How About $52 Million!!!
January 23, 2014
Ferrari GTO Becomes Most Expensive Car at $52 Million
A 1963 Ferrari 250 GTO racer has become the world’s most expensive car, selling for $52 million.
The red competition car, formerly owned by the Greenwich, Connecticut-based collector Paul Pappalardo, was acquired by an unidentified buyer in a private transaction, the car has been owned by a Spanish collector before.
The price is a 49 percent increase on the record for any auto, achieved last year for another 250 GTO. Values of classic cars, particularly Ferraris of the 1950s and 1960s, continue to grow, attracting new enthusiasts, investors and speculators.
“Today the GTO is considered the top car to own,” the California-based dealer Don Williams of Blackhawk Collection said in an interview. “It’s like the Mona Lisa. It has a mystique. If you have a GTO, you have a great collection.”