According to the excited voices at Sotheby’s, the legendary 1962 Ferrari 250 GTO in vivid crimson dominated the show, fetching a staggering $51.7 million and etched its name as the second most expensive car ever auctioned. The prestigious roadster, owned by an American collector for an astonishing 38 years, exceeded all expectations, behind only the astounding $135 million sale of a Mercedes 300 SLR Uhlenhaut Coupe in 2022. At today’s currency rate, that amounts to a whopping $144 million.
Despite RM Sotheby’s, the luxury vehicle subsidiary’s, prior projections of more than $60 million, the 250 GTO took center stage in the auction room, mesmerizing the audience and achieving a slightly lesser but still astounding bid. The new owner’s identity remains a fascinating mystery. With chassis 3765 and a four-liter engine delivering 390 bhp, this Scuderia icon has woven itself into history with a second-place result at the Nurburgring and the renowned 24 Hours of Le Mans. After touring Italy and Sicily, the automobile set out on a transatlantic voyage in the late 1960s.
Undergoing restoration and modification, the 250 GTO passed through several American owners
Undergoing restoration and modification, the 250 GTO passed through several American owners before landing in the hands of an Ohio-based “dedicated collector” in 1985, who, after nearly four decades of stewardship, propelled it back into the market on Monday. Sotheby’s, describing the GTO as more than just a car, painted it as a spectacle for “touring, vintage racing, or display at major concours d’elegance and marque gatherings worldwide,” adding another chapter to its rich and storied history.
The remarkable Mercedes 300 SLR Uhlenhaut Coupe, which took the top rank in 2022 at 135 million euros, remains a rare treasure, with only two known specimens. According to RM Sotheby’s spokeswoman, it was sold in a confidential auction at the German manufacturer’s museum in Stuttgart and is the most expensive car ever sold globally, either at auction or privately. As the autumn season of art sales comes to a conclusion for New York auction houses Sotheby’s and Christie’s, which have remained tenacious in the face of adversity, the market, powered by the warmth from China and Asia, shows no indications of slowing down, according to Sotheby’s.
Michael Caimano of RM Sotheby’s, echoing this sentiment, compared the Ferrari to a tangible work of art, emphasizing its timeless allure and collector’s appeal, transcending the fluctuations of financial markets.
