For Sale: Used Car, $30 Million, OBO
Most of us will never spend more than $50,000 on a car. And that’s being generous, I think, considering the average sales price of new vehicles is just about $30,000.
I tend to lean toward the used-car side of things, as prices in CarGurus’ used listings are generally much more palatable. I say “generally” because, occasionally, a used car will come along that commands a price no new car will ever fetch.
Top Gear tells us that one of the most desired, and valuable, cars ever produced recently changed hands in a $31.8 million transaction. The car, a 1964 Ferrari 250 GTO, is now the second most valuable vehicle ever sold. A 1936 Bugatti Type 57SC Atlantic still holds the record of number one, though just barely.
It’s entirely possible other cars have sold for more money, but if the transactions were not on record, we’ll never know about them. So we’re left to wax ecstatic on what we know.
Only 39 GTOs were ever built. Thirty-three included a 3.0-liter 300-hp V12 engine, disc brakes and a 5-speed manual transmission. Presumably, that’s the model that has been sold by British businessman Jon Hunt to an anonymous buyer living in Spain. Considering Hunt purchased the car in 2008 for about $20 million, it’s obvious this Ferrari has become more of an investment piece than a collectible source of pride. Let’s face it, these people aren’t buying $30 million cars because they like how they drive. They’re buying them so they can sell them in four or five years and make 10 million bucks. I’m willing to bet in the next few years we’ll be writing about a Spanish owner who sold his or her Ferrari 250 GTO for $40 million.
Just don’t expect to see it for sale in the used car listings.
Sharp-eyed fans of pop culture will recognize the GTO as the fabled Ferrari Ferris drove in Ferris Bueller’s Day Off. That one, though, was a replica and sold for a pittance in 2010: just $122,000.
If you owned an original 1964 Ferrari 250 GTO, would you have the guts to drive it? It would be a shame to let that 174-mph top speed go to waste!