1963 Ferrari 250 GTO is world's most expensive car at $52m



2015-06-26 13:27:31

1963 Ferrari 250 GTO is world's most expensive car at $52m

A private sale has seen a 1963 Ferrari 250 GTO up the record by 49%

A 1963 Ferrari 250 GTO has become the world's most expensive car after it was acquired by an anonymous collector in a private sale.

Ferrari 250 GTO record The car, chassis 5111GT (not pictured), won the 1963 Tour de France

The $52m sale was confirmed by Bloomberg News, after contacting three specialist traders. The price represents a 49% gain on the previous record for a private sale, which was held by another Ferrari 250 GTO made for Stirling Moss that made $35m in 2012.

The current record for any car at auction is held by Juan Manuel Fangio's $29.6m Mercedes-Benz W196, which sold at Bonhams in July.

The Ferrari 250 GTO is the most coveted car among collectors and investors, achieving a level of prestige unmatched by any other motor. Those with a strong racing pedigree are particularly sought after.

According the Bloomberg News, the present example won the 1963 Tour de France road race in the hands of French racing legend Jean Guichet.

Renowned collector Paul Pappalardo acquired it in 1974 and completed a stunning restoration. It has since competed in many top races, including the 2002 Le Mans Classic.

Ferrari is up 54.5% in 2013, achieving a 15.1% gain in August alone, according the HAGI F Index.

"As a cautious note, we do not think that the growth rates we are seeing this year are sustainable long-term," warned the company in its report.

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