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The priciest auto sale ever: $70 Million 1963 Ferrari GTO

posted onJuly 15, 2018
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A 55-year-old Ferrari just smashed the record for the most expensive car ever sold according to sources.

The 1963 Ferrari GTO — one of only 36 that were made- was sold for $70 million in a private deal, Marcel Massini,a leading Ferrari historian and adviser to collectors told CNCB.

Sources said the car was sold by German racing driver Christian Glaesel to David MacNeil, an American businessman and a known collector of vintage Ferraris. McNeil is also the founder and CEO of a company called WeatherTech that makes floor mats and accessories for cars 

This particular 1963 Ferrari 250 GTO won the Tour de France  Automobile the year after it was built  and came in fourth at Le Mans 24 Hours. Unlike many other GTOs, was miraculously never crashed. UK Ferrari restoration specialist DK Engineering restored the car in the 1990s.

Ferrari GTOs are known for fetching high amounts at various auctions because of their looks, rarity and performance on both the track and public road.  

Ferrari

A group of ‘63 GTO owners -the most elite club in car collecting- includes Wal-Mart heir Rob Walton, fashion designer Ralph Lauren, Pink Floyd drummer Nick Mason, Peter Sachs, grandson of Goldman Sachs founder Samuel Sachs and British billionaire Lord Anthony Bamford. 

Seven of the top 10 most expensive cars ever sold have been Ferraris,

In 2014, a rare Ferrari 250 GTO was purchased for a staggering $38 million at Bonhams’ Monterey Auction in California making it one of the most exclusive and expensive Ferrari ever sold in an auction. The GTO sold by Bonhams  came in second in the 1962 Tour de France. 

Classic cars are regarded to be one of the safest bets investment-wise. Massini predicts that GTO prices will continue climbing

"We will see a GTO sell for $100 million in the next two to three years," CNBC quoted him as saying. "I have little doubt."