Rare Ferrari sells for record $48 million at Monterey auction

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(WFLA/CNN) – A Ferrari GTO is the most valuable car ever sold in a public auction, selling for a record-breaking $48 million.

The 1962 Ferrari 250 GTO sold for $48.4 million dollars on Saturday at Sotheby’s Monterey collector car sale.

Only three dozen of the vehicles were made, but they are still running.

The GTOs are so pricey because they were dominant racing cars in the 60s… and they’re pretty nice to look at, too!

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