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1963 Ferrari 250 GTO Becomes World's Most Expensive Car

A 1963 Ferrari 250 GTO could possibly be the world's most expensive car following a private transaction.

According to Marcel Massini (H/T CNBC), a reputable top collectible Ferrari expert, the aforementioned antiquity —one of only 39 made—changed hands for a whopping $70 million,  making it the highest ever spent on a car in the history of both legal tender and automobiles.

The car, Serial number 4135GT, also pictured below was reportedly bought by David MacNeil, the founder of car floor mat making company WeatherTech, from German collector and vintage racer Christian Glaesel. And the $70 million cost price eclipsed the previous record of $52 million—paid for another 1963 Ferrari GTO in 2013—rather significantly.

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via driving.ca

A 1962-63 GTO previously sold at a California auction for $38 million in 2014.

The powerful car's scarcity and sleek look make it the proudest haul in the car-collecting world. And this one in particular, outraced all challengers to come out on top during the ten-day 1964 Tour de France, also coming in fourth at Le Mans the previous year, per Massini, who also claims that it surprisingly never crashed, despite it's successful track record (more than he could say for many other such GTOs).

The Ferrari expert reckons a GTO will touch the $100 million sales mark in the near future.

"We will see a GTO sell for $100 million in the next two to three years," he declared. "I have little doubt."

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MacNeil did not immediately respond to a request for comments regarding the report. Given the private nature of the deal, it will be a bit difficult to ascertain that it did cost him $70 million.

According to sources though, he is an avid Ferrari collector who already boasts several multimillion-dollar cars. But this buy has put him in very thin company, the "GTO Club" of billionaires and multimillionaires who own what is considered to be the best Ferrari ever manufactured. Other such GTO owners include Ralph Lauren, Canadian investor Lawrence Stroll, and Walmart heir Rob Walton.

Glaesel, meanwhile, is believed to have purchased the car in 2003 from another German who paid just $6.5 million USD for it three years prior.

Like Massini predicts, the price of the 1963 GTO is likely to keep going up due to the expected increase in billionaire Ferrari owners, coupled with current owners' unwillingness to sell.

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