Lime Green 1962 Ferrari 250 GTO Sells for Record Smashing $35 Million

By on March 25, 2013 in ArticlesEntertainment

Seattle based billionaire Craig McCaw just purchased an extremely rare 1962 lime-green Ferrari 250 GTO for a mind blowing and world record setting $35 million! This particular GTO was originally made for British Formula 1 racing legend Stirling Moss. The GTO went on to have an impressive racing career that included the 1962 24 Hour of Le Mans and a few major circuit victories. After being retired from racing, the car became a hotly desired collectors item thanks to its color and extreme rarity. Ferrari only produced a total of 39 250 GTOs between 1962 and 1964 and only one was painted lime green, thats why we can only show you a red one!

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At $35 million, this Ferrari 250 GTO is now the most expensive car sold in history. The previous record was just set a few months ago when another 250 GTO was sold for $31.7 million. The record before that was a 1957 Ferrari 250 Testa Rossa that sold for $16.39 million in August 2011. Craig McCaw can afford the $35 million thanks to his $1.6 billion net worth which he acquired when he sold McCaw Cellular to AT&T for $11.5 billion in 1993. The seller of the car is a low profile Dutch businessman who must be pretty happy considering he purchased the car for $8.5 million 10 years ago. That's a 312% return! The car was sold in 1996 for $3.5 million which means the value has increased ten times in 16 years, proving that owning vintage Ferraris is a very good investment, even in a bad economy! What car/cars would you buy if you were worth $1.6 billion? Let us know in the comments below!

Articles Written by Brian Warner
Prior to launching Celebrity Net Worth, Brian spent seven years as the Managing Editor of one of the largest entertainment portals on the internet. Before that, Brian attended Georgetown University where he double majored in finance and marketing. A native of Northern California, Brian currently resides in Los Angeles. Follow him on Google+.
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