Posted on: Jun 03, 2012
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A New Record: 1962 Ferrari 250 GTO Sold for $35 Million


Here's yet another reason why your goal in life should be to earn as much money as possible.
There are countless benefits to being rich. For starters, you can do whatever you want, whenever you want. Most would settle for that alone, but once the money has rolled in, it's only a matter of time before you start buying things. Expensive things. The classic Ferrari 250 GTO is not only extremely rare, but also insanely expensive. A few years back, a Japanese collector bought one for a then record $26 million. Only a few months ago another one went for $32 million.

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As usual, records are made to be broken and now a 1962 Ferrari GTO has just been sold for an astonishing $35 million. In addition to being the car and model it is, this particular GTO is also quite special because it was originally built for Sir Sterling Moss. Thing was, Moss never had the opportunity to race it because of his 1962 crash at the Goodwood Circuit at Sussex that nearly killed him. He retired from racing following his recovery. However, his teammate Innes Ireland raced this GTO at the 1962 Le Mans, after which it never raced again. Since then, it's been in the hands of several private collectors.
The car's now previous owner bought it about a decade ago for a supposed $8.4 million. Talk about a solid investment that's more than quadrupled in value. All told, only 39 GTO's were built between 1962 and 1964 and their value will only likely to continue to increase.

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by Jay Traugott
A New Record: 1962 Ferrari 250 GTO Sold for $35 Million