A 1962 Ferrari 250 GTO was sold for $48.4 million at an auction in California, breaking the world record for the Most Expensive car sold at an auction.
The seller was a Microsoft employee who bought the car in year 2000. The earlier record stood at $38.1 million for a 1963 model of the same car.
The company built its first car in 1940. However, the company’s inception as an auto manufacturer is usually recognized in 1947, when the first Ferrari-badged car was completed.
In 2014, Ferrari was rated the world’s Most Powerful brand by Brand finance.
In May 2012, the 1962 250 GTO became the most expensive car in history, selling in a private transaction for US$38.1 million to American Communications magnate Craig McCaw.
