28 October, 2013
There are a lot of cars out there that sell for absurdly high amounts, but how does £32 million sound? No, we didn’t leave out a decimal point; a car has just been sold for a staggering £32 million to a private buyer who now holds the record for the most spent on a car, ever.
The car in question is a Ferrari 250 GTO that was previously owned by famed collector, Paul Pappalardo and has now gone to a private buyer.
This sale smashes the previous record which was set last year when a Stirling Moss Ferrari GTO was sold for £21.6 million (which is still a hefty chunk of cash to say the least).
So what exactly is the Ferrari 250 GTO? It’s a specially built car for motor racing and has a beastly five-speed gearbox designed by Porsche. The reason why the Ferrari 250 GTO is so expensive is that it has become extremely ‘collectible’, because of its rarity, quality of build and racing pedigree. Values began to skyrocket as early as the mid 1980’s, with one going for $14.6 million dollars, which broke records at the time.
There’s just something insanely alluring about the 250 GTO that gets collectors buzzing. A certain mystique and allure that makes it the top car to own, not to mention the monumental bragging rights you acquire if you are lucky enough to have one.
Although the sale of this 250 GTO is a record-breaker, it follows a number of other incredible sales that deserve an honourable mention.
Needless to say, we would all love to get our hands, or even just a glimpse at these extremely expensive cars and hope that every inch of them have been insured!