Rare Ferrari becomes second-most expensive car sold in auction

A rare Ferrari GTO has been sold for $51.7 million in New York City to become the second-most expensive ever sold at an auction.

The Ferrari 330 LM/250 GTO by Scaglietti - the coveted Italian coachbuilder - is one of the only Scuderia-raced GTOs to have a V12 engine- raced at the Nurburgring 1,000km race where it finished second overall.

It was initially offered by RM Sotheby's for an unpublished estimate of $60million before two bidders drove the price up to $47million, before auction-house fees.

Ferrari heritage

The car was due to race the Le Mans 24 Hours in 1962 but failed to compete due to overheating issues.

It was eventually bought by an owner in the United States in 1985, where it competed in vintage racing on the high-end auto show circuit. It was also awarded a Best in Show win at the 2011 Amelia Island Concours d'Elegance.

Previously, the record for the most expensive car was held by another Ferrari 250 GTO, which took $48.4 million at an RM Sotheby's auction in 2018.

The price of the 1962 Ferrari GTO is only surpassed by a Mercedes 300 SLR Uhlenhaut Coupe, which went for €135 million in 2022.