Classic cars have been one of the fastest appreciating high-value assets, increasing in price faster than art, wine, property and even precious metals.
That is why collectors are willing to pay through the nose to secure the most desirable models of all.
But what is the most money ever spent on a motor vehicle sold at auction?
Here’s the top 10 countdown of models to change hands for the biggest sums when hammers dropped in auction rooms.
10. 1964 Ferrari 275 GTB/C Speciale – $26,400,000
Sold: 16 August 2014
Auction: RM Sotheby’s Monterey Sale, California, USA
Just three 275GTB/C Speciale Ferraris were ever created by coachbuilding specialists Scaglietti. The other two aren’t likely to be made available any time soon
The other two are said to be cherished by private collectors who have no intention to sell – that might explain why the interest was so high for this one back in 2014
This is where the onslaught of high-price Ferraris kicks off.
The 1964 275GTB/C Speciale was designed in a no-expense-spared bid to take on the Ford GT40 and Shelby Cobra Daytona at Le Mans.
It was the first Ferrari to feature independent rear suspension and this example is the first edition of a production run of just three models spawned from the Maranello factory in Italy.
The other two are said to be cherished by private collectors who have no intention to sell – that might explain why the interest was so high for this one back in 2014. It sold for a massive $26.4million in California in August that year.
9. 1967 Ferrari 275 GTB4/S N.A.R.T. Spider – $27,500,000
Sold: 17 August 2013
Auction: RM Sotheby’s Monterey Sale, California, USA
This 1967 Ferrari 275 GTB4/S N.A.R.T. Spider became the most expensive model to be sold at auction when the hammer dropped in 2013
The fully restored example is one of only 10 highly desirable N.A.R.T. Spiders ever built. It was reported that the winning bidder was Aston Martin F1 team boss, Lawrence Stroll
When this drop-top Ferrari went under the hammer in California in 2013 it became the most expensive car sold at auction at the time.
Yet the $27.5million price tag (£17.6million when converted to pounds at the time of the sale) has been eclipsed by a number of motors since – a clear signal of how strong the classic car market has been in the last decade.
It stood out for making an appearance in the 1968 film The Thomas Crown Affair featuring Steve McQueen but also for being kept in single-ownership from new until the date of the then-record sale in 2013.
The fully restored example is one of only 10 highly desirable N.A.R.T. Spiders ever built. It was reported at the time of the event that the winning bidder was billionaire Canadian fashion entrepreneur and Aston Martin Formula One team boss Lawrence Stroll.
8. 1956 Ferrari 290 MM – $28,050,000
Sold: 10 December 2015
Auction: RM Sotheby’s Driven by Disruption sale, New York, USA
The 1956 Ferrari 290 MM is an ex-works racer built for Formula One racing legend Juan Manuel Fangio as the Italian brand looked to take the fight to Mercedes-Benz at the Mille Miglia
It sold in 2015 for $28,050,000 (£18.5million) and remains one of the most expensive motor cars to change hands
The 1956 Ferrari 290 MM is an ex-works racer. Chassis 0626 was built for Formula One racing legend Juan Manuel Fangio as the Italian brand looked to take the fight to Mercedes-Benz at the Mille Miglia.
With the five-time F1 champion at the wheel, it placed fourth – the number 458 sister car driven by Eugenio Castellotti took the win.
The car went on to compete for nine years and records show it was never crashed – a remarkable achievement for a competition machine in one of the most dangerous eras of motorsport. The fact it was never wrecked is also fortunate given that only four were ever made.
The 1956 Ferrari 290 MM sold in New York in 2015 to a hat-trick of accolades, becoming the most expensive car sold in 2015, the most valuable motor to ever change hands in New York and RM Sotheby’s priciest lot at the time.
7. 1954 Mercedes-Benz W196 – $29,600,000
Sold: 12 July 2013
Auction: Bonhams Goodwood Festival of Speed Sale, Chichester, UK
The Mercedes-Benz W196 Grand Prix car was the standout lot in the 2013 Goodwood Festival of Speed sale and remains today the most valuable motor sold at auction in Britain with bidding closing at almost £20million
This incredible Silver Arrows Mercedes was raced by Juan Manuel Fangio, taking the chequered flag at both the Swiss and German Grand Prix in 1954.
The Mercedes-Benz W196 Grand Prix car was the standout lot in the 2013 Goodwood Festival of Speed sale and remains today the most valuable motor sold at auction in Britain with bidding closing at almost £20million.
When it went to the block it was in period condition – that includes every visible blemish, dirt and tyre rubber from its last appearance on the track.
6. 1967 Ferrari 412P Berlinetta – $30,255,000
Sold: 18 August 2023
Auction: Bonhams The Quail Auction, California, USA
This 1967 Ferrari 412P Berlinetta ‘former’ race car sold in the summer of 2023 is officially the most expensive to change hands at a Bonhams auction
Before heading to the block, it was the subject of an ‘exhaustive’ nine-year restoration to revitalise the car to its original glory and – just as importantly – make it suitable and legal to be driven on public roads
This Ferrari sold in the summer of 2023 is officially the most expensive to change hands at a Bonhams auction.
Bought by a collector at The Quail Auction in California during August’s Monterey Car Week, the rare Ferrari 412P Berlinetta racer achieved $30.25million.
This exceptional car is unparalleled in its rarity, as it’s just one of two 412Ps constructed.
Before heading to the block, it was the subject of an ‘exhaustive’ nine-year restoration to revitalise the car to its original glory and – just as importantly – make it suitable and legal to be driven on public roads.
‘Thanks to its devoted lineage of owners and the stewardship of its seller, the 412P stands as an enduring piece of art that honors the Ferrari legacy. It was a privilege to be entrusted with its sale and to attain such an exceptional outcome that respects that fully,’ commented Rupert Banner from Bonhams Cars.
5. 1957 Ferrari 335 Sport Scaglietti – $35,730,510
Sold: 5 February 2016
Auction: Artcurial Retromobile Sale, Paris, France
When this Ferrari sold in 2016, Artcurial thought it had set a new record to become the most expensive motor to go via auction…
The auction house believed it to be a new record when the hammer dropped at just over €32million. Artcurial even created a special hashtag on Twitter at the time – but once converted to dollars it fell short of the top spot
Many argue that had the exchange rate of the euro been better at the time of its sale, this could have taken the title as the most expensive car sold at auction.
The 1957 Ferrari 335 Sport by Scaglietti – as well as being drop-dead gorgeous – had set record times at Le Mans and competed in the original Mille Miglia rally.
Artcurial believed it had set a new record when the hammer dropped at just over €32million – even creating a special hashtag on Twitter at the time – but once converted to dollars it fell short of the top spot. Ouch!
4. 1962 Ferrari 250 GTO – $38,115,000
Sold: 14 August 2014
Auction: Bonhams Quail Lodge Auction, California, USA
This Ferrari 250 GTO sold by Bonhams in 2014 was the most expensive car to ever sell at auction for the best part of four years. It was offered to a private buyer for the first time in half a century, having been kept in one family’s ownership for 49 years
This Ferrari held the crown as the most expensive car to ever sell at auction for the best part of four years.
Sold for $38,115,000 during the summer 2014, the 250 GTO was offered to a private buyer for the first time in half a century, having been kept in one family’s ownership for 49 years.
While that’s a hell of a lot of money to splurge on four wheels, it’s still not enough to make it the most valuable car of all time.
It was built to contest the 1963 FIA World GT Championships. Not only did it take part, but it took the crown that year and is considered one of the most-race and best-known 250 GTOs of all time.
3. 1962 Ferrari 250 GTO – $48,405,000
Sold: 26 August 2018
Auction: RM Sotheby’s Monterey Sale, California, USA
The former priciest model to go under the hammer was another Ferrari 250 GTO from 1962 – this one sold during Monterey car week by RM Sotheby’s in 2018
Chassis number 3413 GT is one of the earliest made. It was the third 250 GTO to ever leave the Maranello production line, though it’s widely believed that all 36 examples remain in existence today and has a glittering racing history
This 1962 Ferrari GTO had been the priciest model to ever go under the hammer for four years, having dethroned the GTO above at an RM Sotheby’s sale during Monterey car week in 2018.
Chassis number 3413 GT is one of the earliest made. It was the third 250 GTO to ever leave the Maranello production line, though it’s widely believed that all 36 examples remain in existence today and has a glittering racing history.
It’s also another example that boasts it was never spearheaded bumper first into a crash barrier during its circuit exploits.
It achieved a staggering $48.4million at the Monterey auction during America’s biggest motor meet, which is double the price of the sister car (above) it replaced at the top of the all-time auction sale standings.
2. 1962 Ferrari 330 LM/250 GTO – $51,705,000
Sold: 13 November 2023
Auction: RM Sotheby’s ‘The One’ Auction, New York, USA
The most expensive Ferrari to ever sell at auction: This spectacular 1962 330 LM/250 GTO – widely considered the rarest example of Ferrari’s most celebrated and sought-after classic car – sold for $51.7million. This is the highest price anyone has ever paid for a Ferrari at public sale
The ‘250 GTO’ has been incredibly well cared for and dry stored by one owner for the last 38 years. It comes with the traditional GTO contrasting blue racing seats
Taking second spot in the list of the most expensive cars ever sold at auction is also the most recent – a glorious Ferrari dubbed the ‘holy grail of all collector cars’.
It was offered to the highest bidder by RM Sotheby’s on 13 November, but not at a traditional motor auction. Instead, it was amongst some of the world’s most expensive and collectible modern and contemporary art at the auction house’s most prestigious sale of the year hosted in New York.
The spectacular 1962 Ferrari 330LM/250 GTO is widely considered the rarest example of Ferrari’s most celebrated and sought-after classic car.
That’s because chassis number 3765 is the only 250 GTO ever officially entered into competition by the manufacturer’s own racing team, Scuderia Ferrari.
The winning bid of $51.7million – which works out at roughly £42.1million – is the highest price anyone has ever paid for a Ferrari at public sale and makes this the second most expensive motor sold at auction of all time.
1. 1955 Mercedes 300 SLR Uhlenhaut Coupe – $142,000,000
Sold: 5 May 2022
Auction: RM Sotheby’s top secret auction at Mercedes Museum, Stuttgart, Germany
This 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupe was sold to a private collector at a top-secret RM Sotheby’s auction hosted at Mercedes’ museum in Germany on 5 May 2022
For years, collectors have debated if Mercedes-Benz would ever let either of the two 300 SLR Coupes out of the company’s ownership and sell it to a private buyer. This is what has driven the monumental price tag for this very special car
Auction house RM Sotheby’s sold the most expensive – and by some distance – motor vehicle in 2022. At the time, the sale price was almost three times the previous record.
The car in question is one of just two 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupes the German car firm built, which changed hands for a monumental $142,000,000 (£115million).
It was bought by a private collector at an auction with a difference. That’s because, while still a public sale, it was a secret, behind-closed-doors, invite-only event hosted by Sotheby’s and Mercedes at the manufacturer’s museum in Germany on 5 May 2022. Only those with pockets deep enough were deemed eligible for an entry ticket.
RM Sotheby’s said the car has ‘always been regarded as one of the great jewels of motoring history’ and its sale is a monumental moment with few ever imagining that it would be offered to a private buyer by the German manufacturer.
READ MORE: What makes the Mercedes 300 SLR Uhlenhaut Coupe so special?
The ultra-rare 300 SLR Coupe is one of Mercedes’ most cherished creations. Here is one of the two cars pictured at Goodwood in 2013
The car is one of only two 300 SLR Coupes built in 1955 as hardtop versions of the roofless racing car Sir Stirling Moss drove to victory at the Mille Miglia race that year – arguably the Briton’s most famous crown.
It is powered by a roaring 3.0-litre straight eight-cylinder engine that produces a claimed 310bhp and top speed in the region of 180mph.
It uses a lightweight aluminium body and features Mercedes’ iconic gullwing doors.
It is the car that inspired Mercedes to work with McLaren in the early noughties to create the iconic SLR supercar range, which included a convertible 722 Edition (the famed race number of the Moss car at Mille Miglia) and the SLR Stirling Moss – a roofless speedster without a windscreen, of which 75 were created in the legendary British racer’s name.
The 300 SLR Coupes are hardtop versions of the roofless racing car Sir Stirling Moss drove to victory at the 1955 Mille Miglia – arguably his most famous crown (pictured)
After racing for 993 miles at an average speed of 98mph, Moss and navigator Denis Jenkinson won the 22nd Mille Miglia in the Mercedes-Benz 300 SLR
The 1955 Mille Miglia victory is still considered Sir Stirling Moss’ greatest win. The average speed achieved in the ‘722’ car (which stands for the time he set off in the endurance race) was a record and he became one of only two non-Italian drivers to take victory in event’s 23-year history
While the original cars were designed in 1955 with the intention to compete in endurance events, neither were raced.
That’s because the coupe was under development when motorsport’s most tragic crash occurred, which is the darkest day in Mercedes-Benz’s history.
Disaster struck during the 24 Hours of Le Mans on 11 June 1955 – one month after Moss’ famous win in Italy.
While occupying first and second place, one of the team cars collided with an Austin Healy on the start-finish straight and was propelled into the crowd, killing 83 spectators and injuring another 100.
The devastating accident sparked Mercedes’ retirement from racing for the next three decades, with the Silver Arrows only officially returning to the track in 1989.
The original 300 SLR Coupe widely became known in the classic car world as the ‘Uhlenhaut Coupes’. That’s because Rudolf Uhlenhaut, the boss of Mercedes’ Test Department, used one as a company car – as seen pictured here
The motor believed to have set a new world record as the priciest car is believed to be chassis number 0008/55 – the second of the 300 SLR Coupes built (pictured: one of the two cars being driven at Goodwood)
The 300 SLR Coupe is powered by a roaring 3.0-litre straight eight-cylinder engine that produces a claimed 310bhp and top speed in the region of 180mph. It uses a lightweight aluminium body and features Mercedes’ iconic gullwing doors
The 300 SLR Coupe was the fastest known closed-roof vehicle in 1955 and is said to have hit its maximum speed of 178mph during frequent autobahn runs
Hagerty, which first reported rumours of the car’s sale, says a shortlist of around 10 uber-rich car enthusiasts were hand-picked to attend the auction to ensure only those with suitable wealth were there to bid on one of its finest creations
The pair of prototype cars then under development were completed in 1955, despite there being no intention for them to be raced.
They widely became known in the classic car world as the ‘Uhlenhaut Coupes’.
That’s because Rudolf Uhlenhaut, the boss of Mercedes’ Test Department, used one as a company car.
The 300 SLR Coupe was the fastest known closed-roof vehicle at the time and is said to have hit its maximum speed of 178mph during frequent autobahn runs.
While neither coupe ever raced during their period, they have made numerous public appearances since, including a hair-raising hill-climb run at the 2013 Goodwood Festival of Speed Media Day, piloted by German racing driver, Jochen Mass.
Hagerty sources believe the coveted car sold for a record sum is chassis number 0008/55 – the second of the 300 SLR Coupes built.
‘Rumours abound as to the identity of the buyer, with some suggesting it is a well-known figure from Britain’s automotive industry and a long-standing collector of specialist cars,’ Hagerty told us last week.
‘With interest rates rising rapidly, this purchase could be seen as a wise investment for someone with the means,’ it added.
The 300 SLR Coupes were designed in 1955 with the intention to compete in endurance events, but it was never raced…
That’s because the coupe was under development when motorsport’s most tragic crash occurred, which is the darkest day in Mercedes-Benz’s history – the 1955 Le Mans tragedy. The crash, involving an open-top 300 SLR, killed 83 spectators and injuring another 100. The German brand pulled out of racing soon after the event
Simon Kidston said the auction was a once-in-a-lifetime chance to buy the ‘Mona Lisa of cars’ that was snapped up by the collector he represented at the sale
Mercedes says the second original 300 SLR Coupe will remain in company ownership and continue to be displayed at the Mercedes-Benz Museum in Stuttgart
