The Most Expensive Cars in the World: Record Prices and Auction Bids

Ferrari 250 GTO – €48,400,000

Before the ultra-rare Mercedes-Benz 300 SLR Uhlenhaut took the crown, the title of the world’s most expensive car belonged to the legendary Ferrari 250 GTO. In 2014, one of these iconic cars was sold for $38.1 million, but in 2018, another example shattered records, fetching $48.4 million at auction. To this day, the 250 GTO remains the most expensive car ever sold at a public auction and the priciest vehicle ever auctioned in the United States. Unlike the 300 SLR Uhlenhaut, which was sold in a closed auction dedicated solely to that car, the Ferrari 250 GTO was sold in an open, multi-lot auction, making it the most expensive car in such a setting.

This staggering sum was paid for one of just 36 Ferrari 250 GTOs produced between 1962 and 1964 and one of only seven with a body designed by Sergio Scaglietti. The car had a successful racing history, securing 16 victories. Today, it remains in a condition remarkably close to its original factory state.

The car’s technical specifications are just as impressive. The original 250 GTO was powered by a 3.0-liter V12 engine producing 300 hp. However, in 1962, regulations for the 24 Hours of Le Mans allowed 4.0-liter engines, prompting Ferrari to increase the displacement from 250 to 330 cc per cylinder. These upgraded race cars were designated 330 LM and produced 390 hp.