A 1962 Ferrari 250 GTO sold for $48.4 million at RM Sotheby's annual Monterey collector car sale -- a world record for any car ever sold at auction. Up until now, a 1962-63 Ferrari GTO, which sold for $38 million at a 2014 Bonhams auction held that distinction. Another Ferrari 250 GTO, a 1963 model, recently privately sold for the widely reported price of $70 million. "The 250 GTO, you open the door like you do on your car, you get in and you go," said RM Sotheby's car specialist Jake Auerbach in an interview weeks before the sale. Ferrari 250 owners know one another and sometimes get together for road rallies.

Source: CNN August 26, 2018 14:03 UTC