$38 Million Ferrari Becomes The Worlds Most Valuable Car! A 1962 Ferrari 250 GTO became the most valuable car in the world selling for $38 million at the Bonham’s Auction in Carmel, California on Thursday last. But the gavel price disappointed the Ferrari cognoscenti, who predicted that the car might bring as much as $60 million. The bidding went to $31 million within a minute, but stalled out before reaching the lofty heights that vintage car experts had predicted. The Ferrari GTO is widely considered the most coveted modern automobile, and this example, chassis number 3851, is one of only 39 made. The GTO is considered especially desirable because of its beautiful styling, its racing pedigree, and the fact that it can be driven both on the road at prestigious rallies like the Mille Migilia and on the track at vintage racing events. While the GTO fetched a world record price–the previous auction record for an automobile was a Mercedes W194 Grand Prix car, once driven by legendary racer Juan Manuel Fangio that commanded $29.7 million–the expectation was that the price would have climbed higher. This is the first GTO to go on the auction block in several years, and earlier this year a GTO reportedly changed hands for $52 million. The owner of the car, Paul Pappalardo, did not confirm the sale price. forbes/sites/allenstjohn/2014/08/15/38-million-ferrari-becomes-the-worlds-most-valuable-car-yet-its-auction-price-disappoints/ Check out this video to see and HEAR why its worth the money :-) youtube/watch?v=ewQaikxTUJs
Posted on: Sat, 16 Aug 2014 19:24:22 +0000
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