$38 Million 1962 Ferrari GTO Breaks Highest Price Paid for a Car at Auction

Red 1962 Ferrari 250 GTO breaks auction record with $38 million bid
It’s the type of vehicle that car enthusiasts drool over. A red 1962 Ferrari 250 GTO (which was originally grey) with a history of crashes managed to sell for $38.115 million at the Monterey Car Week auction this week. That price includes a 10% auction fee, making the actual winning bid for the car $34.65 million. While this amount shatters the previous record price paid for a car at auction (that was $29.65 million paid for a Mercedes W196R at the Bonham’s auction last year), it was actually a bit of a disappointment to some. Many pre-auction predictions had estimated the car might fetch as much as $60 to $70 million to become the most expensive car in history.

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4 Responses to $38 Million 1962 Ferrari GTO Breaks Highest Price Paid for a Car at Auction

  1. Francis says:

    Some people have too much money.

  2. christine says:

    Think of all the good that money could have done to help people in the US or around the world. It’s a shame that people think it’s more appropriate to buy a car for that amount than to help others. This is why the world is the way it is. Shameful.

  3. davis says:

    People are allowed to spend money the way they want if its their money. Would you feel it’s all right for others to dictate how you spend your money? Then why do you feel you have the right to dictate how others spend theirs?

  4. Bruce says:

    You are right everyone has the right by law to spend your money any way you want, but there is coming a day of account, all your wealth has been given to you on trust, we are stewards of all we have

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