Ferrari 250 GTO Sells For US$52m To Become World’s Most Expensive Car Photo:
Trevor Collett | Oct, 04 2013 | 4 Comments

A 1963 Ferrari 250 GTO has sold privately to an unidentified buyer for a world record price of $55.3 million.

According to Bloomberg, the purchase and the record price were both confirmed by three independent specialist traders.

The valuable Ferrari has seen two other owners in recent times, with an American collector, Paul Pappalardo owning the car since 1974 before a collector in Spain took ownership.

The 250 GTO joins a growing list of Ferraris in the record books, with a 1961 Ferrari 250 GT California Spyder selling in the UK for roughly $11 million in 2008 and a 1962 GTO which previously held the world record, selling for $35 million last year.

Interestingly, many of the record prices are being paid by ‘new’ collectors, indicating that the cars are not simply changing hands between established enthusiasts.

It is believed that some buyers are solely interested in purchasing the cars for investment purposes, as rising prices make for an attractive risk.

Despite the continuing Global Financial Crisis, it seems classic Ferrari prices led by GTO examples continue to climb, sparking fears of a ‘price bubble’ that will one day burst.

Another Ferrari GTO of note belongs to Pink Floyd drummer Nick Mason, who dealers claim has recently received offers of between $42 million and $53 million from potential purchasers.

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