This 1962 Ferrari - the 'world's most expensive car' - is up for sale

If this 1962 Ferrari 250 GTO goes for its rumoured asking price, it will be the most expensive car ever sold
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Ashley Coates30 December 2016

Widely regarded as some of the most beautiful cars ever made, Ferrari 250s have long topped the lists of the most desirable, and expensive, cars in the world. They rarely get publicly listed, as most are exchanged behind closed doors, which means the exact sums that are being handed over often remains unknown.

Occasionally cars in this exclusive bracket do surface at auction houses, and command prices that makes property in central London look like a steal. Earlier in the year, a Ferrari 335 Sport Scaglietti sold at an auction in Paris for £25m. In 2014, Monterey Car Week in California saw another 250 sell for £30 million at a Bonhams auction.

Ascot-based Talacrest has not made the asking price for this 250 public but it is expected to sell for £40-45million. For that you get a Ferrari that was the second 250 GTO to roll off its factory floor at Maranello, as well as the first 250 GTO to be raced professionally, and one of only 39 ever made. There is also a strong chance you will be the owner of the world’s most expensive car.

Despite its age, this 250 GTO is believed to be capable of 0-60mph in 6.1 seconds and a top speed of 174 mph. It also comes with an impeccable racing history. Although it started out as a test car, it went on to finish second overall and first in its class at the 1962 Sebring 24 Hours.

Speaking to the Telegraph, Talacrest manager John Collins said: “It is a beautiful Ferrari, the Holy Grail of classic cars, and it has a great racing history having finished sixth overall at Le Mans and first in class at Sebring. I have already had one offer on the car and know there will be interest. It will get you on the Ferrari 70th anniversary tour next year. After the US election, people are going to be looking at investing in assets and this is a lot better than a painting on the wall"

In recent years classic cars have comfortably outperformed most other asset classes, such as property or stocks and shares, as well as alternative asset classes like art, wine, watches, jewellery or furniture. While there has been a cooling off in the more extreme end of the automotive spectrum, cars in good condition and with a good history have continued to achieve high valuations.

Writing in the FT, journalist and author Daniel Pembrey summarised their enduring appeal: “Classic cars represent a unique asset class — part investment, part thrall to automotive art and part childhood dream. Collectable toys might be the closest investment comparison, yet unlike those little James Bond Aston Martins that tumbled out of Christmas stockings, these ones now come with very grown-up price tags.”

Follow Ashley on Twitter: @Ashley_Coates.

Follow Evening Standard Motors on Twitter: @ES_Motors.

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