Classic Ferrari 250 GTO fetches record $32 million auction price

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The Ferrari 250 GTO is considered one of the most revered cars in history, so much so that people with very, very deep pockets will line up and bid in the “7-0’s” just to be able to own one.

Recently, one of only 39 models of the iconic Ferrari sports car was put up for auction. Lo and behold, the bids came at a feverish rate before the vehicle was scooped up for a reported £20.2 million – that’s about $32 million based on current exchange rates.

You read that right, folks: $32 million for a Ferrari 250 GTO.

The classic sports car was reportedly sold by British businessman Jon Hunt, the same man who bought the car a few years ago for £15.7 million. Four years after the purchase, Hunt already has an extra £4.5 million in profit to his name.

As far as the car itself, the $32-million 250 GTO carries chassis number ’5095’ and comes with a 3.0-liter V12 engine that produces 300 horsepower while carrying a 0-60 mph time of 6.1 seconds and a top speed of 174 mph.

Despite the astronomical price tag, the 250 GTO’s auction price is a little short of the world record bid for a classic car, which the 1936 Bugatti 57SC Atlantic owns after receiving a bid of somewhere around $40 million two years ago.