Published Aug 27, 2018 at 7:13 PM | Updated at 7:22 PM EDT on Aug 27, 2018
In August 2014, a 1962 Ferrari 250 GTO became the most valuable car ever sold at auction when it crossed the block in Monterey, California, for $38 million. That staggering record was shattered in August 2018 by another '60s-era Ferrari with the famed GTO name.
With its well-documented history and racing success, a 1962 Ferrari 250 GTO with coachwork by Italian designer Scaglietta was projected to bring about $45 million to $60 million at the RM Sotheby's Monterey sale. It ended up selling for more than $48 million.
The exceptionally rare car was auctioned Saturday Aug. 25, part of a week-long car enthusiast's dream come true on the Monterey Peninsula with events orbiting around the famed Pebble Beach Concours de Elegance, including historic races, a parade of vintage cars into Carmel-by-the-Sea and enough auctions to suit anyone's automotive taste.
Scroll down to see the 2018 featured lots at the RM Sotheby's Monterey sale at what makes them so valuable.