The Ferrari 250 GTO is often referred to as the “holy grail” by classic car aficionados who have tens of millions to spend on their hobby. Only 36 were ever produced, all of which are still around, and it’s considered one of the most beautiful Ferrari designs in history. That beauty is rivaled only by its unparalleled success on the racetrack.
At the Sotheby’s Monterey, California, classic car auction, the 250 GTO broke a new record. CNN has reported that the GTO has sold for more than $48 million,
The 1962 Ferrari 250 GTO by Scaglietti, chassis no. 3413 GT, was the third one ever built. It’s currently owned by Dr. Greg Whitten, chairman of Numerix and former chief software architect at Microsoft, and he’s owned it for about 20 years.
There’s a private club of owners, which adds to the mystique. First begun in 1982 by a group of French collectors, they gather every five years for a GTO anniversary driving and dining tour across the country. The only way to join this exclusive gathering is to own one of the Ferrari 250 GTOs.
The car, which still has its original engine, gearbox, and rear axle, began life as a Series I test car for the 1962 Targa Florio road race, and then won 9 of the 10 races it entered in 1962. In 20 races, the car was never involved in an accident and never even failed to finish the race.
The value of the car is estimated at about $45 million, a figure it blew by at auction. One Ferrari GTO went for $35 million in 2012, and the previous auction record was set in 2014, according to Bloomberg, when a 1963 version sold for $38.1 million. A similar 1963 GTO was sold in private for $70 million earlier this year.
Shelby Myers of Sotheby’s said in a statement, “This marks just the third time that a GTO has been offered for public sale in the new millennium. I can think of no better place than our flagship Monterey event, an auction that has borne witness to the record-smashing sale of some of the most important cars in history, for the presentation of such an exceptional example of Ferrari’s most successful racer and the world’s most sought-after collector car, full stop,”
Updated on August 26, 2018: Updated with the car’s value at the auction.
Apple won the PC market’s worst quarter, but that’s not the entire story. It won the race by stumbling less than everyone else.
PC makers shipped just 57 million computers worldwide in Q3, which might look good, but it’s a 21% year-over-year plunge (via Counterpoint Research). And despite Apple’s Mac shipments falling by 11%, to 5.6 million, its market share rose from 8.7% to 9.8%. How did that happen?
Update (October 22 23:54 PT): In response to our query, GM clarified that offline recording support is already available on eligible vehicles. Like Tesla's Sentry Mode, it requires owners to connect a USB drive to save incident recordings, which can be viewed on the vehicle's infotainment screen. The upcoming Connected Cameras feature will build on this by giving owners remote access to these recordings via the revamped OnStar app, allowing them to check footage without walking out to their car.
General Motors has announced plans to add a new Connected Cameras feature to its OnStar service starting next year, giving drivers a way to monitor parked vehicles remotely and capture footage of certain incidents.
Missing out on the self-driving future is a tough pill to swallow, especially as a car enthusiast. But that is what Tesla handed us on Wednesday, without a hint of mercy.
During its October 21, 2026 earnings call, Elon Musk told investors the Cybercab is meant mainly as a ride service. Further, nearly all of them will be owned and managed by Tesla.