1962 Ferrari 250 GTO Berlinetta sets new auction record at $38.1m

Bonhams' Quail Lodge sale has brought a world record for a car sold at auction, as a spectacular 1962 Ferrari 250 GT0 Berlinetta crossed the block in Carmel, California yesterday.

Ferrari 250 GTO Berlinetta
Every time a GTO comes up for sale, another record falls

Coming ahead of the 2014 Pebble Beach Concours d'Elegance, the GTO 250 sold for $38.1m, raising the world record set by Juan Fangio's Mercedes W196 at $29.6m in 2013 by 28.7%.

"It's been a genuine privilege to represent this outstanding car and we are absolutely delighted with today's results. We've always maintained that we would exceed the current world record and that the car would bring between $30-$40-million and today the GTO did just that," said Robert Brooks, chairman of Bonhams.

The Ferrari 250 GTO, one of just 33 ever produced, and designed to compete in Grand Touring races, is arguably the most sought after car of all time, with ownership a must for the top percentile of car collectors.

This example is a particularly coveted model, having finished second in the 1962 Tour de France before spending 49 years in the same family ownership.

It was formerly part of the Maranello Rosso collection of Fabrizio Violati - one of the world's foremost Ferrari collectors - with 10 cars from his collection selling for a combined $65.9m at the Bonhams sale.

The auction continues today (August 15) as the concours gets underway. See our top 10 cars at auctions in California this weekend.

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