Supercar Sunday: 1963 Ferrari GTO World's Most Expensive, Fetches $52 Million

By Matthew Askari | October 07, 2013
A 1963 Ferrari GTO has just been acquired privately for $52 million, making it the world's most expensive car, ever. This takes over another Ferrari GTO--one produced for British racecar driver Stirling Moss that sold for $35 million last year--and continues the trend for one of the most exotic sports cars on the planet. Between 1962 and 1964, only 39 copies of the Ferrari GTO were produced. These cars have the added distinction of having been raced in prominent Grand-Touring races, and the recently acquired $52 million GTO, was the winner of the 1963 Tour de France long-distance race.
"Today the GTO is considered the top car to own," California-based dealer Don Williams of Blackhawk Collection said in a recent Bloomberg report. "It's like the Mona Lisa. It has a mystique. If you have a GTO, you have a great collection." The car was sold to an anonymous buyer, by collector Paul Pappalardo of Greenwich, Conn., who reportedly acquired the 1963 Ferrari GTO in 1974. Pappalardo restored the exotic car, and raced it in the 2002 Le Mans Classic, among other races.
The market for classic cars continues to be hot, and the recent California auctions that coincided with the Pebble Beach Concours d'Elegance raised nearly $302 million, a global record according to Michigan-based Hagerty database.
Source: Bloomberg