In a dazzling display of automotive history, a 1962 Ferrari 250 GTO, chassis no. 3765, recently secured its place as the most valuable Ferrari ever sold at auction, fetching a staggering $51.7 million. This ultra-rare piece of automotive excellence, auctioned by RM Sotheby’s in New York, now stands as the second highest-priced car ever auctioned, marking a momentous occasion in the world of luxury automobiles.

This exceptional Ferrari holds a unique distinction, being the only factory GTO Tipo 1962 ever raced by Scuderia Ferrari. Piloted by the skilled hands of Mike Parkes and Lorenzo Bandini at the 1962 24 Hours of Le Mans, chassis no. 3765 not only clinched a class victory but also secured an impressive second place overall at the 1962 Nürburgring 1000 KM.

Adding to its exclusivity, this particular 250 GTO, one of just 39 ever built, boasts the rare ‘Tipo 1962’ bodywork and is distinguished as the sole chassis raced by Ferrari’s factory team during its prime. What makes it even more extraordinary is that Chassis 3765LM is one of only three 250 GTOs equipped with a larger 4.0-litre V12 engine, setting it apart from its counterparts with the standard ‘Colombo’ 3.0-litre V12.

Leading up to the auction, expectations soared as RM Sotheby’s estimated a potential sale surpassing $60 million. Although it fell short of this projection, the final hammer price of $47 million, totalling $51.7 million with fees, established a new auction record for any Ferrari, despite not surpassing the private sale record set in 2018 at $70 million.

This iconic vehicle dubbed a “once-in-a-generation” purchase, has a storied past, having spent nearly four decades in private ownership. Boasting a chassis number of 3765, it earned its place in racing history with notable achievements, including a second-place finish at the 1962 Nürburgring 1,000km in Germany and a runner-up position in the 1965 Sicilian Hillclimb Championship.

Previously owned by a chairman of the Ferrari Club of America, this “Holy Grail” hypercar earned accolades such as an FCA Platinum Award, the Coppa Bella Macchina at the Cavallino Classic, and a Best of Show at the Amelia Island Concours d’Elegance in Florida. Its racing legacy, coupled with its distinguished ownership history, elevates its status to that of a true collector’s piece.

Gord Duff, RM Sotheby’s global head of auctions, emphasized the significance of this sale, stating, “Celebrating this sale during Sotheby’s marquee week highlights the unparalleled stature of this Ferrari as one of the world’s most desirable objects.” The 250 GTO now stands as not just a luxury vehicle but as a symbol of automotive history, securing its place among the most expensive cars ever sold at auction, a testament to its singular place in history.

This Ferrari 250 GTO, with only 36 models produced from 1962 to 1964, stands as one of the rarest and most sought-after sports cars globally, according to Forbes. Its recent auction triumph cements its status as an enduring symbol of automotive excellence and a must-have for discerning collectors with an appreciation for the unparalleled legacy of Ferrari.