This Ferrari outperformed other expensive cars that were up for auction.

The 1962 Ferrari 330 LM/250 GTO by Scaglietti was sold by Sotheby’s RM with an unofficial estimate of $60 million.

Despite Sotheby’s RM’s refusal to divulge details about bidders or buyers, individuals in attendance provided some analysis.

The price was driven up to $47 million by two bidders.

Then there were expenses associated with the auction house.

The “Holy Grail of Collector Cars” was how Sotheby’s Chairman and President of the Americas, Mari-Claudia Jiménez, referred to this vehicle.

Gord Duff, Global Head of Auctions at RM Sotheby’s, echoed this, stating that it is “more than a classic; it’s a legend.”

He declared, “This is a unique piece of automotive history.”

“This is it—the vehicle that aficionados can only imagine owning.”

It was marketed as a luxury item by Sotheby’s, and as such, it was put up for auction as a stand-alone piece during one of the company’s major fall fine art auctions held at its offices on New York Avenue.

Oliver Barker, chairman of Sotheby’s Europe and an auctioneer, presided.

It was parked in front of a picture by contemporary artist Jonas Wood to further establish its status as a “luxury object.”

Due to its rarity, the car’s price increased.

Just 36 Ferrari 250 GTOs from the 1962–1964 production run are still in the world.

Being the desired model entitles one to become a member of an elite group.

Among the well-known members are Pink Floyd’s drummer Nick Mason and fashion designer Ralph Lauren.

It is quite comparable to the 250 GTO, which is why the auction company described it as “one of one.”

When it was first configured, it was a 330 LM, a somewhat larger, even more distinctive automobile.

The vehicle was transformed into a 250 GTO in 1962.

The model is the only factory-owned Series I GTO that the automaker’s racing subsidiary, Scuderia Ferrari, has ever raced.

It was recognised at the 1962 Nürburgring 1,000 KM with a class win and a second-place overall result.

At the 1962 24 Hours of Le Mans, Mike Parkes and Lorenzo Bandini drove the Scuderia Ferrari.

Not to mention, it finished second in the Sicilian Hillclimb Championship in 1965.

Additional honours from later years include the FCA Platinum Award winner and the Cavallino Classic Coppa Bella Macchina.

Out of 23 GTOs, it placed second in the GTO class at the 2011 Pebble Beach Concours d’Elegance.

At the Amelia Island Concours d’Elegance, it won Best of Show.

It received the Meadow Brook Concours d’Elegance Blue Ribbon winner award.

Later, in 1964, the automaker sold it for $6,000 to a Sicilian surgeon.

Furthermore, it was handled by the chairman of the American Ferrari Club.

Thus, under present ownership, it benefits from 38 years of meticulous maintenance.

Copies of the factory build papers, owner’s correspondence, old race coverage, and even magazine feature stories are among its valued documents.

Because of them, it is a moment in automobile history.

Additionally, there are a tonne of tributes and copies of the iconic car available.

Chassis number 3765 was able to achieve the highest sale price for a Ferrari, but it was unable to break the record for the most recent classic car auction.

Sotheby’s RM set this last year.

Around $144 million in today’s money, or €135 million, was paid for a Mercedes-Benz 300 SLR Uhlenhaut Coupe.

Unverified rumours claim that a Ferrari 250 GTO was sold privately in 2016 for more than $70 million.

Though it didn’t meet the projected amount, the $51.7 million is still a significant profit over the (approximately) $500,000 it sold for when it was previously sold in 1985.

According to Gord Duff, global head of auctions for RM Sotheby’s, that is over $1.4 million now.

Sotheby’s RM has verified that Jim Jaeger is the seller.

The collector, who lives in Ohio, is a co-founder of a company that detects radar.