In a historic moment for automotive collecting, High Speed Auctions facilitated the sale of a pristine 1962 Ferrari 250 GTO for an astounding $48.4 million, setting a new benchmark for classic car auctions worldwide.
A Moment in History
The sale took place during our exclusive Monterey Car Week event, where collectors from around the globe gathered to witness this extraordinary piece of automotive history change hands. The atmosphere in the room was electric as the bidding climbed rapidly past the $40 million mark, with determined collectors vying for the opportunity to own what many consider the ultimate collector car.
The 250 GTO, chassis number 3413 GT, represents one of only 36 examples ever produced between 1962 and 1964. These legendary machines were purpose-built for GT racing and have achieved near-mythical status among automotive enthusiasts and collectors worldwide.
The record-breaking 1962 Ferrari 250 GTO (chassis 3413 GT) moments before going under the hammer at our Monterey Car Week event.
A Racing Pedigree Like No Other
This particular example boasts an impressive competition history that reads like a greatest hits of 1960s motorsport. The car participated in numerous prestigious events including:
- 24 Hours of Le Mans (1962, 1963) - Competed in the world's most prestigious endurance race
- Tour de France Automobile - Multiple podium finishes in the grueling multi-day event
- Targa Florio - Raced on Sicily's legendary mountain roads
- 1000km of Nürburgring - Tested against the Nordschleife's unforgiving 14 miles
Its provenance includes ownership by several racing legends and meticulous preservation throughout its 62-year existence. The car has been maintained in competition-ready condition, with its original V12 engine, gearbox, and bodywork all documented and authenticated.
Market Impact and Industry Significance
The record-breaking sale demonstrates the continued strength of the collector car market, particularly for vehicles with impeccable provenance and racing heritage. Industry experts predict this sale will have lasting effects on valuations across the classic car segment, particularly for rare Italian sports cars from the 1960s.
This transaction marks a significant milestone not just for High Speed Auctions, but for the collector car market as a whole. It reinforces the position of top-tier classic cars as alternative investment vehicles and confirms the enduring appeal of motorsport history to a new generation of collectors.
High Speed Auctions' Track Record
High Speed Auctions has positioned itself at the forefront of high-value automotive sales, combining traditional auction expertise with cutting-edge digital platforms to reach collectors worldwide. This sale marks our fifth transaction exceeding $20 million in the past 18 months, solidifying our reputation as the premier destination for world-class collector vehicles.
Our team's deep understanding of automotive history, coupled with rigorous authentication processes and global marketing reach, ensures that both buyers and sellers receive unparalleled service in the luxury automotive auction space.
Looking Ahead
Building on this success, High Speed Auctions is preparing for an equally impressive lineup in our upcoming spring catalog. Our March event will feature several significant offerings, including rare pre-war racing machines, iconic muscle cars, and modern supercars from prestigious private collections.
We invite serious collectors to register early for preview access to our next collection of exceptional vehicles. Our team is available to discuss consignment opportunities and provide market insights for both buying and selling.
Join Our Next Auction
Be part of automotive history. Register now for exclusive access to our upcoming spring collection.