1962 Ferrari 250 GTO Sold for $35 Million image

The world’s most expensive car is a 1962 Ferrari 250 GTO, made for the well-known race driver Stirling Moss, and it was sold for $35 million at a private auction.

Only 39 GTOs were produced from 1962 until 1964, and this apple-green Ferrari is one of them. The car was sold by the Dutch-born businessman Eric Heerema to Craig McCaw, a car collector from the Seattle.

“The market is very active at the moment,” said James Cottingham, acquisition consultant for Ferrari dealer DK Engineering, based in Hertfordshire, U.K. “A lot of new buyers are expanding their collections and the baby-boomer generation of collectors has reached an age when they’re not using their cars as much as they used to. They want to sell.”

Over the past two months several Ferraris have been sold in private auctions. One of them is the Ferrari 250 Testa Rossa which got Phil Hill the first prize at the 1958 Le Mans 24-Hour race and was sold for $25 million. Another is a Ferrari 250 GTO bought by Chris Evans for about $18 million two years ago. John Collins from the Ascot-based dealership Talacrest Ltd, said that over the last two months 8 Ferraris have been sold for a total of $135 million.