Classic Ferraris fetch record prices

1962 Ferrari 250 GTO was auctioned for a record $38.115 million.

1962 Ferrari 250 GTO was auctioned for a record $38.115 million.

Published Dec 31, 2014

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Maranello, Italy - Not only did a Ferrari set a record this year for the highest price ever paid for a car at auction - $38.115 million (R439 million!) for a 1962 250 GTO sold by Bonhams in Monterey, California, but nine of the 10 most expensive collector’s cars auctioned this year also wore Prancing Horse badges.

Second was a 1964 Ferrari 275 GTB/C Speciale, which went under the hammer at the RM Auction in Monterey for $26.4 million (R304 million), followed by a 1954 Ferrari 375-Plus Spider Competizione, sold by Bonhams at Goodwood in England for $18.4 million (R218 million.)

The rest of the top nine Ferraris were:

1961 Ferrari 250 GT SWB California Spider, sold for $15.18 million (R175 million) by Gooding and Co at Pebble Beach.

1964 Ferrari 250 LM:$11.55 million (R133 million) at the RM Auction in Monterey.

Steve McQueen's 1967 Ferrari GTB/4:$10.175 million (R117 million) at the RM Auction in Monterey.

1958 Ferrari 250 GT LWB California Spyder:$8.8 million (R101 million) at the RM Auction in Scottsdale, Arizona.

1966 Ferrari 275 GTB/C:$7.86 million (R90.5 million) at the RM auction in Monte Carlo.

1953 Ferrari 250 Mille Miglia Berlinetta: R7.86 million (R90.5 million) at Bonhams in Monterey.

What we want to know is: How do you insure a car that’s worth more than the gross domestic product of a small country?

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