A classic 1962 Ferrari fetched over $50 million at a New York auction hosted by Sotheby’s, becoming the second highest-priced car ever auctioned.
The striking red GTO, previously owned by an American collector for 38 years, was sold for $51.7 million following a brief bidding session. The identity of the buyer was not disclosed by Sotheby’s.
Although the Ferrari was sold for an impressive sum, it fetched less than the anticipated $60 million. The car has a rich history, having been raced in Italy and Sicily before being exported to the U.S. in the late 1960s.
After undergoing restoration and modifications, the car changed hands among several American owners until an Ohio-based collector acquired it in 1985.
Sotheby’s described the GTO as a splendid vehicle suitable for touring, vintage racing, or showcasing at major concours d’elegance and car events globally.
This sale is second only to the record-breaking auction of a Mercedes 300 SLR Uhlenhaut Coupe, which sold for 135 million euros (approximately $144 million at current exchange rates) in 2022, according to Sotheby’s.
This Mercedes sale holds the record for the most expensive car ever sold, either in auction or privately, as reported by AFP, citing a Sotheby’s representative.
A Sotheby’s spokesperson remarked before the Ferrari auction that such a car remains a sought-after collector’s item irrespective of financial market conditions, likening it to a tangible, sensory work of art.
In other notable sales, Sotheby’s auctioned a 1956 Ferrari once driven by Formula One icon Juan Manuel Fangio for $28 million in 2015.
Additionally, Sotheby’s announced plans to auction a 1967 Ferrari, famously used by actor Steve McQueen, expected to garner around $7 million later in the year.
