RM Sotheby’s is no stranger to offering up some of the world’s most coveted vehicles – spanning vintage, luxury, limited-edition and supercar models. Now the collector car auction company has sold a 1962 Ferrari 330 LM/250 GTO, chassis 3765 for a whopping $51.7 million USD.

The impressive figure makes it the most valuable Ferrari ever sold at auction and the second-highest sell price for a car at auction. The vehicle hit the sales floor as a part of Sotheby’s New York sales of Contemporary and Modern Art. The car, which has been in private ownership by a chairman of the Ferrari Club of America for almost four decades, has now become a major part of automotive history.

Additionally, the Ferrari was the only GTO Tipo 1962 raced by Ferrari’s racing division, Scuderia Ferrari. Some of its racing highlights include a class win, runner-up at the 1965 Sicilian Hillclimb Championship and finishing second at the 1962 Nürburgring 1000 KM – piloted by Mike Parkes and Lorenzo Bandini.

The car appears in Ferrari’s signature red shade with a white and black number seven decal on the side, hood and rear. Take a closer look at the history-making car in the gallery above.

In other news, RM Sotheby’s is set to auction off a rare Mercedes-AMG GT Black Series Project One edition. 
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