1962 Ferrari 250 GTO Sets Record at $38M
 

Yep, you read that right - a 1962 Ferrari 250 GTO just sold for $38,115,000.

Makes you think about buying a Veyron for $2M and saving the other $36,000,000. :)

http://i1114.photobucket.com/albums/...ps3e099eb9.jpg

1962 Ferrari 250 GTO sets auction record sells for a mere 38115 million | Autoweek

Ugh... People with too much money making cars into an expensive objects. This trend of ever increasing prices of old cars is somewhat sad.

The best part is I don't even know what I'm going to do with it yet. The garage I'm having built just for that car won't be ready for weeks and I'm not leaving the 986 outside over night!!

Great investment. Once being a billionaire isn't enough to get you an invite to the next auction the car will sell for $70 mm which will beat the pants off any 401k. Think of it as a $38mm penthouse apartment or Malibu beach house without any property taxes. Insure it, stick it in a climate controlled hangar with all your other antique cars and walk away with hedge fund manager's fortune without lifting a finger. Pretty cool eh?

pre auction estimates were as high as 70 million since one sold privately for 51 million not that long ago... so the gavel price was a surprise for many there , and a " deal " for the winning bidder

this one even had same owner since 1965 ..the longest tenure ......the late famed Ferrari enthusiast and friend of Enzo Fabrizio Violati

I suspect superstitious Asian bidders were spooked by the fact that a racer died in it during one of it's races

anyone could have bought one for less than $ 10k, 40 years ago, when these languished for sale as just an old outdated used GT car, about a third of the price of an average home then

Some cool pics of it....

World's most expensive car | Canoe

No...not really. The really big deals go un-mentioned/documented. I have a friend who was involved in a Ferrari transaction much higher than this between two private parties. The auctions are just the tip of the iceberg.

And yes...it is just completely insane.