Classic Ferrari GTO auctioned for S$40 million

A classic Ferrari 250 GTO has gone under the hammer to sell for a reported £20.2 million (approx S$40 million) which makes it one of the most expensive cars ever sold, as well as one of the most expensive Ferrari classic cars ever sold.

With the Ferrari 250 GTO touted as one of the most beautiful cars built by Ferrari, this is one of just 39 examples that was built, it was produced between 1962 and 1964 and had an original sticker price of around £6000 (S$11874). There are no details on who made the purchase, but reports state the seller is British businessman Jon Hunt who bought the model in 2008 for a sum of £15,700.000 (S$31 million). If the reports are true, the seller would have made a profit of $9 million within 4 years.

The model sold at auction carries the chassis number 5095 and is equipped with a 3.0-litre V12 engine that produces 300hp ( 224 kW / 304 PS ). It can accelerate from 0-100km/h in 6.1 seconds and has a top speed of 280km/h.