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The 1% Have Stolen So Much of Our Money, They Don't Know What To Do With It: Ferrari Fetches $38 Million At Auction

That 1962 Ferrari 250 GTO.
By NBC News
A 52-year-old Ferrari smashed the record for the most expensive car ever sold at auction. The 1962 Ferrari 250 GTO, with a somewhat dark past, was sold Thursday night by Bonhams for $34.65 million, plus fees, bringing the total to $38.115 million. That blew past the previous record, held by a Mercedes-Benz racer that sold last summer for $31.6 million including auction fees. "The market right now is just so strong," said Marcel Massini, a leading Ferrari historian and adviser to collectors. "And this is one of the big prizes in the entire collecting world." Ferrari GTOs are among the holy grails of the car auction world.

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