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New world record for a car at auction 1962 Ferrari 250 GTO sold over $48 million at Pebble Beach

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Stuart PORSCHE Gallagher
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Ferrari becomes most expensive auction sale ever 250 GTO sells for more than $48 million at Pebble Beach.

The 1962 Ferrari 250 GTO that twice won its class in the Targa Florio has taken the honour of being the most expensive car ever sold at auction. Including the buyer’s premium, it sold for an astonishing $48.4 million at RM Sotheyby’s Monterey sale in California, which ran alongside the renowned Pebble Beach Concours d’Elegance.

The car is one of just 36 examples built from 1962-1964, all of which have survived. It was the third example built, carrying chassis number 3413, and was driven by 1961 Formula One world champion Phil Hill on the 1962 Targa Florio. Under the ownership of Gianni Bulgari, it went on to win its class in the ’63 and ’1964 events as part of a 20-race motorsport career that passed without incident. It still boasts its original V12 engine, transmission and axle, and wears the factory Series II body it was wrapped in by coachbuilder Carrozzeria Scaglietti in 1964. In 2000 it was bought by former Microsoft chief software architect Gregory Whitten, who used it in anger for historic motorsport events.

It’s thought the new owner is a USA-based collector, but amazingly, it isn’t the highest fee ever paid for a car. That accolade goes to another 250 GTO that David Mac Neail paid $70 million for in early August.

On the Friday beforehand, a 1935 Duesenberg SSJ roadster offered by Gooding & Co reached $22 million, breaking the records for the most expensive American car ever sold at auction. That figure just eclipsed the $21.45 million achieved by Sotheby’s for a unique 1963 Aston Martin DP215, developed specially for Le Mans and also driven by Phil Hill.

This amazing Ferrari 250 GTO sold over $48 million at Pebble Beach, a new record for a car at auction. Pic: RM Sotheby’s.

This 1935 Duesenberg SSJ broke the record for the most expensive American car sold at auction.

This unique Aston Martin DP215, also driven by Phil Hill in the ’60s, sold for $21.45 million.

The 250 GTO was driven by Formula One champion Phil Hill on the Targa Florio in 1962

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