Ferrari race car sells at auction for record-making $48.4 million

A 1960s race car that originally cost $18,000 (that is $151,203.60 in today’s money) shattered files having a nearly $50 million auction marketplace this weekend.

The valuable 1962 Ferrari 250 GTO, a two-seater coupe, sold at an RM Sotheby’s auction in California for $48.4 million. Here is the maximum auction price ever for a car or truck. A 2014 auction formerly held that name, for a $38 million Ferrari.

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Just 36 of the Ferrari 250 GTO were made between 1962 and 1964, which makes it thoroughly desirable for collectors and a charm. This particular Ferrari raced in the 1962 Italian GT Championships — and won. The car has a top speed of 174 mph. Read more…

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