The Most Expensive Car in the World

If you consider the Bugatti Veyron to be very expensive, the price of the following car will make you think this is ridiculous.

The latest transaction price of the 1962 -1964 Ferrari 250 GTO, reached $52 million. That is 20 times of the base Bugatti Veyron’s MSRP.

Many of you may not know, 50 years earlier Ferrari cars do not hold value, that’s because at that time Ferrari owners generally did not care about the car and did not maitain it well. Ferrari only build 39 units of the 250 GTO during the 60s, it was sold MSRP $18,500 as a new car in 1962 – 1964; it depreciated quickly to $10,500 as a second-hand car in 1965. You can buy an used 250 GTO for only one-thrid of the MSRP in 1968. The used 250 GTO price tanked in 1969 for only $2,500.

But car collectors soon discovered the 250 GTO’s value and its price climbed like rocket after 1975. In October 2013, a Connecticut collector sold a 250 GTO to an unnamed buyer for the record-high price of $52,000,000. This makes the Ferrari 250 GTO be considered one of the most collectable and expensive cars in the world.