This Ferrari 250 GTO was sold for P2.5 billion

The most expensive car ever sold at a public auction
by Vijay Pattni | Aug 28, 2018

Ten minutes. Ten minutes. Three collectors literally phoned in bids over the course of nearly 10 minutes—moving in million dollar increments—the winner securing one of only 36 Ferrari 250 GTOs ever built.

The final price? $48.4 million (P2.58 billion) after fees, making this little Ferrari a big story. It now becomes the most expensive car ever sold at public auction (though a little off the reported $70 million paid for a 250 GTO a couple of months back at a private auction).

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Still. Nearly fifty big ones for an old car built in the '60s. But of course, no Ferrari 250 GTO is just an old car built in the '60s. This one in particular is the third of the run—chassis number 3413—and was tested by F1 world champ Phil Hill for the 1962 Targo Florio. It won there twice over the next two years. And took the Italian National GT Championship in 1962.

Last week, it was sold with its original engine, gearbox and Series II body following two decades of being in the custody of Gregory Whitten. “My journey with the 250 GTO has come to an end,” he said. “But I am excited to see how this fantastic car is enjoyed by the new owner.”

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NOTE: This article first appeared on Minor edits have been made.

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