Ferrari sets record

A 250 GTO Berlinetta has become the most valuable car in history sold by auction after realising US$38.115 million – or about NZ$44.89m – at Bonhams’ Quail Lodge Auction in Carmel, California. Surpassing the previous record, which was also set by Bonhams with the 1954 Mercedes-Benz W196 R F1 Racer that made NZ$59.14m at its Goodwood Festival of Speed Auction last year, the 1962 Ferrari GTO was the subject of intense international interest. Bidders from around the world made bids in person and by phone. The auction pavilion was filled to total capacity with overflow on the lawns watching the action live on television screens. After the start of a bidding war that at times resembled a tennis match, complete with moments of silence interrupted by cheers, the audience erupted in applause when the fall of the gavel confirmed the final price. Robert Brooks, chairman of Bonhams, says: “It’s been a privilege to represent this outstanding car and we are delighted with results. We’ve always maintained we would exceed the world record.” The new world record demonstrates confidence in the collector car market and the strength of the Ferrari brand. Other cars from the Maranello Rosso Collection of 10 Ferraris also sold well on August 14 for a combined total of about NZ$77.67m.