Ferrari 250 GTO Auctioned For $48.4
Image: Bloomberg

A red 1962 Ferrari 250 GTO has been auctioned for $48.4 million on Saturday in California in the US, making it the highest-paid price for a classic car at an auction.

Concise News gathered that the car was auctioned by RM Sotheby’s in Monterey, and earned between $45 million and $60 million, the highest valuation ever for a vintage vehicle in an auction.

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This trumped the past record put at $38.1 million paid for a 1963 model of the same auto four years ago.

The vehicle was sold by Chairman of Numerix Software Ltd. and an early Microsoft Corp. employee Greg Whitten who bought 18 years back.

However, Sotheby’s did not reveal how much it bought it with experts saying that price for such kind of vehicle goes for the region of $10 million.