RM Sotheby's sale at Pebble Beach last weekend set a new record for the most valuable car ever to be sold during auction as its much anticipated headlining 1962 Ferrari 250 GTO eventually fetched US$48,405,0000

RM Sotheby's sale at Pebble Beach last weekend set a new record for the most valuable car ever to be sold at auction as its headlining Ferrari 250 GTO eventually fetched US$48,405,000.

The 1962 250 GTO topped RM Sotheby's most historic Monterey offering to date, which resulted in an overall total of US$157,931,940 – one of the company's all-time top performances, the highest-grossing auction of Monterey Car Week, and a near 19 percent increase over 2017 results at the same venue.

RM Sotheby's Monterey auction drew considerable international interest in the months leading up to the event, welcoming bidders from 37 countries and seeing 83 percent of all cars offered find new homes.

The collector car world flocked to Monterey to witness the line-up in person, with more than 90% of bidders present at the preview and in the packed room, despite remote bidding options.

The two-day sale was led by the remarkable 1962 Ferrari 250 GTO, chassis no. 3413 GT, long considered to be the 'holy grail' of the collector car world and offered from two decades in the collection of noted businessman, Ferrari enthusiast, and vintage racing driver Dr. Gregory Whitten, which sold for US$48,405,000, becoming the most valuable car ever sold at auction.

This exceeds the previous record by more than US$10 million. However, the highly anticipated at auction of this 250 GTO fell a little flat as RM Sotheby’s had slapped on an estimate of US$45-60 million and it only just squeezed past the lower end of that price range. Although the most expensive 250 GTO ever at to be sold at public auction it is believed that several other examples have changed hands privately at higher prices.

There were cheers and applause when five-time Le Mans winner Derek Bell stepped out of the car after driving it across the auction block in front of an overflowing salesroom, followed by gasps as auctioneer Maarten ten Holder opened the bidding at the unprecedented level of US$35 million.

Three collectors’ bidding via telephone competed for the car, sometimes moving in million-dollar increments, before it sold for a final US$48,405,000 after nearly 10 minutes.

Additional stand-out moments for Italian cars during the two day sale included a unique& 1956 Maserati A6G/2000 Zagato racer which fetched US$4,515,000 to set a new record for the model at auction.

Photos: 1962 Ferrari 250 GTO Chassis No: 3413

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