The Most Expensive Car In the World
The World’s Most Expensive Car is the 1962 Ferrari 250 GTO that sold at an auction last year for $35 million.
Starting with the late 1970s to the late 1980s, classic car values escalated quickly and the 250 GTO, touted as the Ferrari that most successfully embodies the traits of the marque. Last year it became the most valuable of all Ferraris when was sold for a staggering amount of $35 million.
A 250 GTO (4757GT) seized by the FBI belonging to the deceased Robert C. “Chris” Murray, a drug dealer who fled the United States in 1984, was sold in a sealed auction in 1987 for approximately $1.6 million. Murray bought the car in 1982 from a Beverly Hills dealer with $250,000 in cash from a backpack full of $20 and $50 notes. In 1989, at the peak of the boom, a 250 GTO was sold to a Japanese buyer for $14.6 million plus commission. By 1994 that example changed hands for about $3.5 million. In 2008, a British buyer bought a 250 GTO that formerly belonged to Lee Kun-hee of Samsung Electronics at an auction for a record £15.7 million. In May 2010, BBC Radio 2 DJ Chris Evans bought chassis number 4675 GT for £12 million. According to Octane Magazine, the Ferrari 250 GTO bearing chassis number 5095GT was sold by British Real Estate Agent Jon Hunt to an unknown buyer. In what is believed to be the largest single car transaction in the United Kingdom, a Ferrari 250 GTO has sold for over GBP20 million (approx. US$31.7 million). In May 2012 the 1962 250 GTO made for Stirling Moss becomes world’s most expensive car, selling in a private transaction for $35 million.
Scarcity and high monetary values led to the creation of several replica 250 GTOs on more common Ferrari chassis. Misrepresentations of the original cars, offered for sale at full market value, have been reported.
The automobile made for Sir Stirling Moss was bought in May 2012, by US car collector & billionaire Craig McCaw.
It is one of the 39 Ferrari 250 GTOs ever made.
Back when the car was introduced to the market, 50 years ago, it was sold for around $18,000.