#MontereyCarWeek: Here IT Is, The 1962 Ferrari 250 GTO That Now Is The World's Most EXPENSIVE Car Ever Auctioned

A 1962 Ferrari 250 GTO sold for $48.4 million at RM Sotheby's annual Monterey collector car sale -- a world record for any car ever sold at auction.

Up until now, a 1962-63 Ferrari GTO, which sold for $38 million at a 2014 Bonhams auction held that distinction. These prices include a 10% "buyer's premium" paid to the auction company.

Every August, the days leading up to the Pebble Beach Concours d'Elegance classic car show in California are filled with events for high-end car collectors. These include auctions at which record prices are often paid for the most desirable cars...

TomM - 8/26/2018 5:34:40 PM

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Only 39 of these were produced - and only 36 of these still exist.

ANd they cost $18,000 dollars when the were first produced although Enzo himself determined who could buy one. That means one HUGE capital gains bill!

ricks0me - 8/26/2018 6:22:31 PM

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TomM: Yesterday you posted about Ford GT and all years of production are spoken for. 1000 cars over 4 years is a massive number next to the 36 Ferrari's that exist.

48 Million ... That number scares me !!!

PUGPROUD - 8/26/2018 7:07:29 PM

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Nick Mason, drummer for Pink Floyd, bought one in the 70's for $6,000 when a GT 250 was just another used race car. HE STILL OWNS IT!

Agent00R - 8/26/2018 8:42:26 PM

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Haha!

According to my inflation calculator, $18,000 in 1962 would translate to about $151,000 in today's coin.

Nice return!

PUGPROUD - 8/27/2018 8:13:25 AM

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Just to be clear you pay ordinary income on the gain though you might try to deduct carrying costs over the years though I doubt it would be allowed by IRS. As my dad use to say "We should all be so lucky to have to pay that much tax!"

ricks0me - 8/27/2018 8:23:05 AM

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What country does Nick Mason live in. He might be real lucky or not with any gains on the car.