A stunning 1962 Ferrari 250 GTO is expected to set the record as the most expensive car ever to sell at an auction.
Experts have estimated that the car, the third in a production line of just 36 of these models made by the iconic Italian factory, will sell for approximately $45 million (£34 million) at the Monterey Sale in California on 24-25 August.
Another 1962 Ferrari 250 GTO holds the current record figure paid for a car at a public sale, $38.1million in 2014.
Despite competing in more than 30 races from 1962-64, winning many of them, the car never crashed or failed to finish and was retired from professional racing unharmed. In more recent years it has competed in vintage events around the world.
It still has many of the original parts it left the factory with, including a 3.0-litre V12 engine that produced 300bhp – reaching zero to 60mph in 6.1 seconds with a top speed of 174mph – as well as the gearbox and rear axle.
Classic car auctioneers RM Sotheby’s says the model is ‘wonderfully maintained in highly original condition’. The company also confirmed that the 250 GTO has an unbroken chain of ownership, while registered keepers include some of the most prominent Ferrari collectors worldwide.
It’s no wonder they are dubbing it ‘the most valuable motor car ever offered for public sale’.
Pasquale Failla, Business Development Manager at Harrington Luxury Car Finance, says: “The 250 GTO holds a very special place in the hearts of classic-car enthusiasts so it’s no surprise to see the estimated figure at the level it is.
“It’s a truly beautiful model and it’s great to see how carefully it has been preserved over more than 50 years. As is the case with many of the vintage and collectible cars we help arrange finance for, a responsible and respectful chain of ownership keeps these exquisite vehicles in fantastic condition.”
If you would like to find out more about how Harrington can help you secure the finance for a rare collectible or a stunning new supercar, call 01604 973 289 or read more about our finance products here.