A rare Ferrari keeps gaining in value year on year. A1963 Ferrari 250 GTO racer has changed hands in a private transaction for a record breaking price of $52 million. After the transaction was confirmed it acquired the title of the world’s most expensive car. It is a huge improvement on the previous record which was also held by a rare Ferrari. It was a 1962 model finished in pale green color and was originally built for Sir Stirling Moss. It changed hand last year for then record price of $35 million which has been bettered now by almost 49%. The story about the new record was broken by Bloomberg after getting it confirmed by three traders independently.
Possible That the Car Could Change Hands for $100 Million
It has been the trend for the last 30 years that rare Ferrari models in good condition have gained 15% in value every year. Historic Automobile Group International’s founder Dietrich Hatlapa has been studying the market closely for long and watched the trend grow. It is this trend that makes investing a fortune in a car sensible even if you are not a serious car collector. After crossing the $50 million mark it now seems quite feasible that an exclusive 250 GTO might trade hands for $100 million within a few years. You can be reasonably sure that this new record of the most expensive car is not going to last for long.
The Buyer of the Exclusive Car Has not Been Identified
Ferrari had created the 250 GTO model first in 1962 to compete at Grand Touring races, most notably the Le Mans 24 Hours. They built only 39 units of the exclusive model before it was discontinued. The GTO that has created the new record had won the 1963 Tour de France road race and boasts a distinguished competition history. The story in Bloomberg has not identified the buyer of the exclusive car and remains anonymous. The uncertain economic environment has had no impact on the valuation of these rare vehicles. They have continued to rise in value and they will continue to do so in the future.