1962 ferrari 250 gto

1962 Ferrari 250 GTO becomes the world’s most expensive car

A 1962 Ferrari 250 GTO has reportedly set a new world record for being the world’s most expensive car.

1962 ferrari 250 gto

1962 Ferrari 250 GTO

According to Bloomberg, the rare model – specially built for Stirling Moss – was bought by American automotive collector Craig McCaw for $35 (€28 / £23) million. While the price is certainly impressive, McCaw made a fortune when he sold his company to AT&T for $11.5 (€9.2 / £7.4) billion in 1993.

The 250 GTO, created in 1962 to compete at the Le Mans24- Hour and other Grand-Touring car races, is regarded by collectors as the most desirable of all classic Ferraris.  Motor Trend Classic magazine placed the 250 GTO first on a list of the “Greatest Ferraris of all time” in 2010.

The car with chassis numbered 3505, was made by the Ferrari factory in 1962 for the U.K. racer Moss, whose name is scrawled on the back of the right-hand driver’s seat.  The car was painted in the distinctive pale-green livery of Moss’s UDT- Laystall race team. Moss suffered a career-ending crash at the Goodwood circuit in Sussex on April 23, 1962, in a race just prior to taking the wheel of his new Ferrari.  The car was raced by his fellow UK driver Innes Ireland at the 1962 Le Mans, where it retired.

Regardless, the car’s value has skyrocketed as it was purchased for $3.5 (€2.8 / £2.2) million in 1996 and about $8.5 (€6.8 / £5.5) million in 1999.

Source: Bloomberg

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