The Ferrari 250 GTO is an extremely sought-after car, but when this example sold earlier this summer at the Quail Lodge in Monterey, California, it set a new world record. Although $38 million sounds like an extreme sum to pay for any car at auction, the figure was actually lower than the auction company's initial estimate of $50 million. Why the exorbitant price tags? Ferrari only ever built 39 units of the 250 GTO, a racing homologation special, and the cars very rarely change hands in public auctions.
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