Ferrari 250 GTO Sells For $31.8 Million

By | February 13, 2012

If you had $32 million what would you do with it?  If I did, I’d pay off all my debts, buy a decent house, buy my dream car (Lamborghini Gallardo LP570-4 Superleggera), and then live off the interest.  This guy, however, forked over a whopping $31.8 million for a 1964 Ferrari 250 GTO.  If you are unfamiliar with the 250 GTO let me inform you.  It is considered by many to be the most sought after car in world.  Ferrari only built 39 of them.  They were originally built for racing and to meet the racing regulations Ferrari had to build 100 of them but they were sneaky about it and built the cars with non-sequential VINs making it appear they built cars that actually didn’t exist.  They featured a 3.0L V12 producing 300hp and when new in 1964 cost a whopping $18,000!  Today that will buy you a small new car like the Mazda3.  To put it in comparison to the times, the Ford Mustang was introduced the same year and the base model cost a mere $2,368.

Now you might be thinking that $31.8 million is an awful lot of money to spend on a car.  This particular purchase, however, is only the second highest purchase price for a car.  That’s right, the second most expensive.  The record is held by the 1936 Bugatti Type 57SC Atlantic which was sold in 2010.  Although the exact purchase price of the Bugatti is unknown it is said to be between $30-40 million.

If you are looking to buy one of these fine machines be patient because they don’t come up for sale very often and when they do, you had better hope you are a billionaire.

Source: AutoBlog

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