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Rare Ferrari sells for record $38M at California auction

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Rare Ferrari sells for record $38M at California auction

By Joyce Lupiani. CREATED Aug 15, 2014

A very rare Ferrari sold for a record total of $38 million at an auction on Thursday.

The Ferrari 250 GTO Berlinetta was one of 36 built between the years of 1961 and 1964, according to the New York Times.

ABC News reports the car was first owned by French racer Jo Schlesser and was driven in the 1962 Tour de France race. Later that same year, former French Olympic ski champion Henri Oreiller was killed while driving the Ferrari in another race in France. The car was rebuilt by the Ferrari factory after the deadly crash. It was then sold to Fabrizio Violati, who was a wealthy Italian amateur driver. He died in 2010.

Vintage cars have steadily been going up in price in recent years. The previous sales record was held by a Mercedes-Benz W196 race car that sold for $29.7 million last summer.

CNN says some experts had estimated that the Ferrari would sell for more than $50 million.

The car was sold at an auction in Carmel, California. The winning bid was actually for $34.65 million. The final price includes a 10 percent buyer fee. No information has been revealed about the new owner.

Joyce Lupiani

Joyce Lupiani

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Joyce Lupiani, who is based in Las Vegas at KTNV-TV Channel 13, is a contributor to NowTrending.com.