Ferrari 250 GTO sells for a record-breaking £20m

Ferrari 250GTO sells for record-breaking amount
A 1963 Ferrari 250 GTO has changed hands for £20.2m, making it the most expensive car ever sold in the UK - and possibly the world.

The ambiguity on the world record front is because in 2010 a Bugatti Type 57SC sold for a price understood to be between £20- and £26m.
Either way, this is still a staggering price even for a Ferrari 250 GTO - undoubtedly one of the most sought after cars in the world.

There's also some ambiguity when it comes to the sale itself. The registered owner of the GTO - a 1963 model, number 5905 - is Jon Hunt, a British entrepreneur who made his fortune developing then selling Foxtons estate agency.

The £20.2m sale of 5905 has been confirmed, but the buyer has not and Mr Hunt is yet to comment. According to The Telegraph, the car is now heading to Spain.

Ferrari 250GTO sells for record-breaking amount

The rarity and provenance of the 250 GTO make it so sought after and expensive. Only 39 were built from 1962 to 1964, costing around £6,000 at the time and packing a 3.0-litre V12 engine with 300bhp.

Its performance is therefore similar to a hot hatch today, with a 0-60mph time of around six seconds and a 174mph top speed, but in the '60s the GTO was a prolific and successful racer.

This particular model made its competitive debut in 1963 at the Tour de France road race, placing second. It went on to win three prestigious races the following year: Les Andelys hillclimb, Rallye de Picardie, and Rallye du Limousin.

Whoever has bought the 250 GTO joins Pink Floyd drummer Nick Mason in the owners club, as well as ginger haired former rebel turned Radio 2 presenter Chris Evans, who paid £12m for his in 2010.

Quoted in The Telegraph, John Collins of specialist Ferrari seller Talacrest said: "Classic Ferraris have seen more gains than others, they're like the Picassos of the car world, and the 250 GTO is the golden car of its generation.

"Show me a man who wouldn't want one. I have bought and sold seven over the years including this model, and I wish I had kept one now."

Ferrari 250GTO sells for record-breaking amount
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