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1962 Ferrari 250 GTO Sells for $48.4 Million at RM Sotheby’s Auction

1962 Ferrari 250 GTO Sells for $48.4 Million at RM Sotheby’s Auction

A Record $48.4 Million Auction Sale

In Monterey, California, a 1962 Ferrari 250 GTO sold for $48.4 million USD at the RM Sotheby’s auction in 2018. This price sets the record for the most expensive car sold publicly. Although it is not proven, tips have led some to believe another GTO was sold for $70 million in private. Regardless, $48.4 million is quite a ton of cash. This specific 250 GTO is one out of 36 total built by Ferrari. Even better, this car was never wrecked or repaired, making it even more unique. Furthermore, this car’s great racing history most likely helped drive the price well above the previous record.

Background & Racing History

1962 Ferrari 250 GTO - Sold for $48.4 Million USD at Auction - Rear Corner - RM Sotheby's - EuroDrift

1962 Ferrari 250 GTO – Sold for $48.4 Million USD at Auction – Rear Corner – RM Sotheby’s – EuroDrift

The 1962 Ferrari 250 GTO is a very limited production model that has made headlines repeatedly, due to its collective value. The most recent 250 GT, that sold for $48.4 million USD, has quite a spectacular racing history. With one national championship and several major wins in the 1960s, this car holds historic value. In 2014, another GTO sold for $38 million USD, setting the record back then until now. This specific 250 GTO was owned since 2000 by former Microsoft executive Greg Whitten. The sale price at auction was $44 million USD, which translates to $48.4 million after fees.

Buckets of Cash & Gold

Meet the Man Who Sold His Ferrari 250 GTO for a Record $48.4 Million | Forbes – YouTube

The 1962 Ferrari 250 GTO is an amazing collector’s car. A rare spectacle to many, this car fetches quite the price on the market. With a racing history, no wreck record, and a unique ownership history, this car is quite the rare combo. A good prediction is that this car will most likely fetch more in the future, if its taken are of properly. In conclusion, the sale of a 1962 Ferrari 250 GT set the world record for auction price at $48.4 million.

Cash - Necessary for Purchase of 250 GTO - Pixabay - EuroDrift

Cash – Necessary for Purchase of 250 GTO – Pixabay – EuroDrift

1962-1965 Peel P50: The World’s Smallest Automobile

1962-1965 Peel P50: The World’s Smallest Automobile

2010 Guinness World Record

In 2010, The 1962-1965 Peel P50 was declared “The World’s Smallest Production Car”. The Peel P50 is a three-wheel microcar with enough space for “one adult and one shopping bag” (advertisement by Peel in 1960s). The P50 is the main car by the Peel Engineering Company on the Isle of Man. This “city car” is quite the spectacle, with quite minimal options, and space. But, this car is quite the collectible. The car was initially worth $2,200 in 1963, but recently sold at a Sotheby’s Auction in March of 2016 for $170,000 USD. Furthermore, out of 50 total units produced, only 27 remain. This means that almost half of the P50s are gone.

Specifications of the Peel P50

's Smallest Car - Front Corner - National Motor Museum in Beaulieu - John Dalton of Wikimedia - EuroDrift

‘s Smallest Car – Front Corner – National Motor Museum in Beaulieu – John Dalton of Wikimedia – EuroDrift

From inside out, the 1962-1965 Peel P50 is quite a unique vehicle. Beginning with only one door, on the left side, this car stands out to most people. On the front, there is a single windscreen wiper and one headlight. Furthermore, there is no reverse gear, but a handle at the back allows for easy maneuverability. Lastly, the car arrives in three colors: Daytona White, Dragon Red, and Dark Blue.

Forza Horizon 4: Achievement – Never Tell Me the Odds – Winning a Drag Race in a Peel P50! – The Gamer Society – YouTube

Under the hood, the Peel P50 sports a 49cc, 4.2 horsepower engine. This motor works in combo with a 3-speed manual transmission. With a top speed of 38 mph, there is no need for a 0 to 60 time! Either way, who the heck would want to go 60 mph in a Peel P50!? Well, The Gamer Society tested this out while obtaining an achievement in Forza Horizon 4! Check out the video above to see it happen. In the video, the car has a much powerful engine, rating it from a D-Class to a B-Class. The mods include a new engine, AWD, racing equipment, and more!

Note: Buy Forza Horizon 4 Standard Edition – Xbox One below!

Who Doesn’t Want to Drive a Peel P50?

The Smallest Car in the World at the BBC – Top Gear – BBC – YouTube

So, who doesn’t want to drive a Peel P50? Well, probably quite a few people. This vehicle is very small, so height and weight most likely play a huge role in comfort. When in need to go shopping, just take the Peel P50! Parking will be easy, hauling a single grocery bag may be easy, and safety will be zero to none. Just be sure not to get in a collision in this car, as it probably wouldn’t go well. Otherwise, this car would be fun to take out for a short joy ride. Overall, the Peel P50 is the world’s smallest car, and now the world’s smallest collector vehicle.

Note: The featured image is by Philip Kromer of Wikimedia.

2018 Porsche 911 Turbo Classic Series “Project Gold”: $3.4 Million

2018 Porsche 911 Turbo Classic Series “Project Gold”: $3.4 Million

“Project Gold” Sells for $3.4 Million

At the RM Sotheby’s Porsche 70th Anniversary Auction, the “Project Gold” sold for over $3.4 million USD. The prestigious auction was held at the Porsche Experience Center in Atlanta, Georgia. Including the buyer’s premium, the overall price for the 2018 Porsche 911 Turbo Classic Series “Project Gold” equates to $3,415,000. That is quite a bit of bank for a 993 Turbo. But, with only 1 unit from production, this car is quite collectible. Fortunately for RM Sotheby’s, the bidder’s determination led to a high sales price.

Specifications for the Classic “Project Gold”

Porsche 993 911 Turbo Project Gold - In-Progress - Manufacturer Picture - EuroDrift

Porsche 993 911 Turbo Project Gold – In-Progress – Manufacturer Picture – EuroDrift

The 2018 Porsche 911 Turbo Classic Series “Project Gold” is a beautiful masterpiece. From interior to exterior, this car is the original, maybe even better. The original 993 Turbo was able to reach up to $200,000 in price, so $3.4 million is quite a bit more. Under the rear hood, this car sports a 3.6-liter twin-turbo flat-six engine with 450 horsepower. This motor is straight from the 993 Turbo S, rather than the base Turbo. The original manual transmission and AWD make this car a beast on the street. Imagine cruising down the road in this golden yellow metallic 993 rebuild, ah… life goals.

Porsche Classic Strikes Gold!

Project Gold – One and only. – Porsche – YouTube

With the 2018 Porsche 911 Turbo Classic Series “Project Gold”, the Porsche Classic team hit the jackpot. Being from the past made this car stunningly unique as well as shows that older vehicles are still amazing. Thankfully, the Porsche parts were waiting to be built for quite some time. But, at $3.4 million USD, it may be smarter to simply buy a Turbo S and paint it gold. It may even be cheaper to include flakes of gold in the paint. But, it wouldn’t be as unique as this car. Overall, the “Project Gold” is an amazing automobile.

Porsche 993 911 Turbo Project Gold - Rear Corner - Manufacturer Picture - EuroDrift

Porsche 993 911 Turbo Project Gold – Rear Corner – Manufacturer Picture – EuroDrift

Porsche 993 911 Turbo Project Gold: A Brand New Classic

Porsche 993 911 Turbo Project Gold: A Brand New Classic

Reviving the 993 Turbo for One Car

In 2018, Porsche is celebrating its 70th anniversary as a sports car manufacturer. For this special occasion, the Porsche Classic division went ahead with a unique project. This venture goes by the name of Project Gold. Basically, Porsche is creating a brand-new classic vehicle. The project, a Porsche 993 911 Turbo Project Gold, will only have one unit available for market. Fortunately, people who’d like to buy the car can attempt to do so at auction. During the RM Sotheby’s auction in Atlanta on October 27, 2018, this car will be sold for a great cause. All funds from the vehicle will go to the Ferry Porsche Foundation. This charity focuses on youth development, education, and social activities.

Specs on 993 Turbo Project Gold

Porsche 993 911 Turbo Project Gold - Rear Corner - Manufacturer Picture - EuroDrift

Porsche 993 911 Turbo Project Gold – Rear Corner – Manufacturer Picture – EuroDrift

The brand-new Porsche 993 911 Turbo Project Gold will be the official last air-cooled model by the manufacturer. Cut off two decades ago in 1998, this car continues the chassis number chain while being unique to itself. First, this build features a 3.6-liter twin-turbo flat-six engine with 450 horsepower. This motor is from the original 993 Turbo S, rather than the 993 Turbo. Obviously, this engine will feature air-cooling technology from the 90s period rather than modern coolant systems. The engine works in combo with an original manual transmission and AWD system. Yes, the transmission and AWD system were pulled from a classic parts bin at the facility. Finally, the car wears a beautiful golden yellow metallic paint to signify its presence.

Going Once! Going Twice! Sold!

Porsche Gold – One and only. – Porsche – YouTube

At the end of October 2018, one lucky wealthy man will obtain this beautiful Porsche 993 911 Turbo Project Gold. As a Porsche enthusiast since youth, this car is a dream and would be amazing to have in possession. Who can say that they obtained a brand-new 993 in 2018? Well, not many… considering the limit is one in production. The original 993 Turbo can fetch up to $200,000, so this car will most likely surpass this value. Considering its uniqueness and cause, this car may fetch up to $400,000 or $500,000, or maybe even more. Honestly, it depends how much someone wants this beautiful car. Overall, the 993 rebuild is stunning and will forever be a rare collectible piece for one lucky owner.

Porsche 993 911 Turbo Project Gold - In-Progress - Manufacturer Picture - EuroDrift

Porsche 993 911 Turbo Project Gold – In-Progress – Manufacturer Picture – EuroDrift

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