62 Ferrari 250 GTO sells for record $38 million at Monterey

by Michael Satterfield

A 1962 Ferrari 250 GTO Berlinetta has set the record for the highest auction price a single car has ever sold for, with the bidding reaching $38,115,000 at Bonhams’ Quail Lodge auction in Carmel, California. While the near forty million dollar bid is still a record, the car fell far short of the seventy-five million dollar estimate that some speculated it could reach before the auction.

The sale of the GTO eclipses the record setting sale of the ex-Fangio 1954 Mercedes-Benz W196R grand prix racer that sold for nearly $30 million at Bonhams’ Goodwood Festival of Speed auction last year. While this GTO has set a record for an auction price, it is not the highest price anyone has paid for one of the 39 Ferraris. Last year (2013) chassis number 5111GT sold for $52 million dollars in a private sale to the Torrota Collection.

Source: Bonhams

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Michael Satterfield

Michael Satterfield is the founder of The Gentleman Racer, a leading automotive lifestyle site blending cars, travel, and culture. Known for its compelling storytelling and unique perspective, the site has become a go-to destination for car enthusiasts and style aficionados.

A Texan with a passion for classic cars and motorsports, Michael is also a hands-on restorer, currently working on a 1960s SCCA-spec Formula Super Vee and other project cars. As the head of the Satterfield Group, he consults on branding and marketing for top automotive and lifestyle brands, bringing his deep industry knowledge to every project.