/1963 Ferrari 250 GTO Sells for Record $52 Million USD

1963 Ferrari 250 GTO Sells for Record $52 Million USD

Ferrari 250 GTO 600x375 at 1963 Ferrari 250 GTO Sells for Record $52 Million USD

It is crazy how classic exotic cars have skyrocketed in value over the past few years. The craziest of them all is Ferrari, and the craziest of the Ferrari is the 250 GTO. The car just broke another record, changing collection for a staggering $52 million USD.

The buyer is an unidentified collector who bought the car in a historic deal from Connecticut-based collector Paul Pappalard. Details of the deal were leaked by the car dealers involved in the transaction, who are probably feeling quite content right now with the commission they have earned. Pappalard himself declined to comment on the story when contacted.

The GTO is question is a 1963 Ferrari 250 GTO chassis number 5111, the winner of Tour de France road race in the same year in the hands of French racing driver Jean Guichet.  This sale smashes the record of the previous most expensive GTO, a 1962 model that changed hands last year for $35 million.

One car collector and dealer describes the Ferrari 250 GTO as the automotive equivalent of the Mona Lisa. That is completely true, not the least because it is too valuable to be used for any purpose other than being seen and admired like a painting. The GTO is the fastest appreciating classic car, nay, thing the world has ever seen.


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