Ferrari 25 GTO:
the world’s most
expensive car

A classic Ferrari 250 GTO has reportedly been sold privately for $52 million (€38.3 million) making it the world’s most expensive car.

The market for classic super cars continues to fly in the face of all reason and logic, but investors simply can’t get enough of rare and classic iconic autos, especially Ferraris from the 50s and the 60s. The 250 GTO is now considered the ultimate in collectable car and would be considered the crown jewels of any collection.

The price represents a 49% increase on the former ‘most expensive car’ title-holder, another Ferrari 250 GTO. The recent rush on rare and collectable Ferraris has had some industry experts warning over a bubble in the vintage super car market, but it would seem buyers are undeterred.

The car was acquired by Conneticut-based collector Paul Pappalardo in 1974, restored and subsequently driven in many historic races, including the 2002 Le Mans Classic, before being sold on. Speculation is rife as to who the current owner might be as a shroud of mystery surrounds the identity of the owner of the world’s most expensive car, indicating that this is probably and investment strategy as opposed to a prestige purchase.

 The Ferrari 250 GTO was originally built in 1962 to compete at the Le Mans 24-hour and only 39 were built. Today it is the world’s most expensive and desirable car. This models has a distinguished racing pedigree driven by French driver Jean Guichet to the 1963 Tour de France road race title. An apple green version built for Britain’s Stirling Moss was sold in June 2012 for a record $35 million (€25.7 million). 

Nick Mason, drummer with Pink Floyd is another famous owner of a Ferrari 250 GTO, which he bought with his proceeds from ‘Dark Side of the Moon’. In fact so enamoured is he with the iconic car that he reportedly turned down an offer of $35 million for the car in 2010. Since then he has reportedly received offers of $40 million and $50 million from investors looking to take advantage of the current gold rush in classic super cars, all of which he has spurned. There are some things, it seems, that money can’t buy.