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Most expensive car – 1963 Ferrari 250 GTO Racer – $52 Million
A 1963 Ferrari 250 GTO race car recently sold for $52 million, making it the most expensive car in the world. Greenwich, Connecticut-based collector Paul Pappalardo sold the car to an unidentified buyer in a private transaction. Three specialist traders who independently confirmed the purchase and price to Bloomberg
Recently, Recently, the car has been owned by a Spanish collector, the car website Barchetta said.
As prices continue to rise, speculators ahve been voicing concern and prompting fears of a bubble in the market.
“Nothing goes up like that in the mid-term,” HAGI founder Dietrich Hatlapa said in an interview. “Price rises of 55 percent aren’t sustainable in any market. We’re not saying the market is going to collapse. It will probably average out over time.”
Hatlapa told Bloomberg that prices of the rarest Ferraris have risen at an average annual rate of 15 percent for more than 30 years.
Others are not worried, at least when it comes to 250 GTO’s.
“Today the GTO is considered the top car to own,” the California-based dealer Don Williams of Blackhawk Collection said in an interview with Bloomberg. “It’s like the Mona Lisa. It has a mystique. If you have a GTO, you have a great collection.”
Ferrari only made 39 GTO 250 cars, which are now the most expensive and increasingly sought after.
The latest record-breaking GTO, chassis number 5111, has a distinguished competition history, which might have contributed to the subsequent surge in price. It won the 1963 Tour de France road race with the French driver Jean Guichet at the wheel.
Other GTO owners, such as Pink Floyd drummer Nick Mason, have recently received offers between $40 million and $50 million from prospective purchasers, dealers told Bloomberg.