Posted on: Feb 14, 2012
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Rare Ferrari GTO Sold at Auction for Record $32 Million

An ultra-rare Ferrari GT0 has just sold for $32 million. That's not a typo.
For anyone who thinks that buying a million dollar plus supercar is outrageous might as well stop reading this article right now. They gone? Good, we didn't need them anyway. As for the rest of us who'd be willing to shell out the dough (if we even had it) for such an item, then you'll probably find this both interesting and maddening all at once. As reported by Bloomberg Businessweek, a classic Ferrari GTO was just recently sold at auction for an insane $32 million.
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It was one of only 36 produced by Ferrari between 1962 and 1963. The auction took place in the UK and an unidentified buyer took home the extremely rare Italian exotic. Bloomberg reported that the GTO was "an early example, had a competition history and was in well-preserved condition with original paint." Due to today's volatile global financial markets, many wealthy investors are searching for alternate money-making options and rare cars are proving time and again to be smart long-term investments.
With auction houses such as Bonhams and Gooding & Co. setting records in recent months, it appears the rare classic car investment secret is out in the open. Photos displayed are of the 1963 Ferrari 250 GTO.

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