The classic car scene can involve some serious cash and return on investment for well-maintained garage queens. It holds particularly high value for the extremely rare, iconic sports cars that see their value rise exponentially. Classic Ferraris are usually worth a lot of zeros and the 250 GTO is often regarded as the best of all time. One such Ferrari GTO from 1963, one of 39 made, has just broken the record for a fee paid for a classic car when an American collector paid a rumoured USD 70 million for it.
For a single car, no matter how great, its worth is determined also by the life it has lived. This particular silver-yellow 250 GTO with a 300bhp, naturally-aspirated V12 is largely original and had an illustrious career in motorsport. Serial number 4135GT, in its heyday, managed a P4 finish at Le Mans in 1963 and won the 10-day Tour de France road rally the following year. Yes, it was restored in the UK sometime in the 1990s but it has also raced all over Europe and Africa before it became a prized possession for many private collectors over the years.
This new record smashes the previous one by around USD 27 million, a clear indication that the appetite for classic cars shows no signs of waning anytime soon. What would you do with USD 70 million kind of cash – a single classic sports car, or a collection of modern hypercars and private racetrack to smash around on? Share your thoughts in the comments below.