Sky High Auction For Ferrari

Arguably one of the most sought after vehicles in the world, the 1962 Ferrari 250 GTO, was recently on auction in Carmel California and even thought the Ferrari went for a sky high auction price, it wasn’t as high as some thought it would be and wasn’t even a record at a staggering price of thirty eight million US dollars.

1962 Ferrari 250GTO

That’s correct, the $38 million dollars that someone just paid for the ’62 Ferrari 250 GTO was not only seen as missing the mark, but it didn’t even come close to what most were expecting it to go for, let alone match the price that another Ferrari 250 GTO got a little while back in a private sale that some say went for a whopping $52 million dollars. Many pundits thought that the 1962 Ferrari 250 GTO would go for at least $60 million and some industry vets thought that it could reach over $75 million. There were even some that thought this specific car could set a new world record by surpassing the bounds of reality and reaching up to nine figures! It is important to note that while the price may not have reached the lofty expectations of many, the reality is that the thirty eight million was still a record price for a car sold at a public auction. Many auction experts feel that, while this specific Ferrari 250 GTO didn’t break the overall records, it does signal that public auction market is alive and well and all are hoping that this upward trend will continue.

Ferrari 250GTO

It didn’t take long for things to get crazy at this auction as the bidding started at a cool ten million dollars and within a matter of less than a two minutes the price landed on its final number of $ 34,650,000 million and when you throw in the auctioneer’s commissions of ten percent you get to the final selling price of $ 38,115,000 million dollars. Its hard to believe that selling something, or really anything, for thirty plus million dollars would be a disappointment, but such must be the life of the rich and famous.