- Classic cars appreciate quickly.
- High prices for coveted models.
- Top 10 most expensive auctioned.
Classic cars are among the highest-value assets that appreciate in value the quickest, surpassing even precious metals, art, wine, and real estate.
For this reason, collectors are prepared to pay exorbitant prices in order to obtain the most coveted models.
However, what is the highest amount ever paid for an automobile that was auctioned off?
The following is a ranking of the ten most expensive models that changed hands when hammers were lowered in auction rooms.
$26,400,000 for a 1964 Ferrari 275 GTB/C Speciale
Sold on August 16, 2014
RM Sotheby’s Monterey Sale, California, United States of America, auctioned off
This is precisely where the barrage of expensive Ferraris begins in earnest.
At Le Mans, the 1964 275GTB/C Speciale was meticulously crafted to compete with the Ford GT40 and Shelby Cobra Daytona.
It featured independent rear suspension for the first time and is the inaugural variant of a limited run of three models produced at the Maranello factory in Italy.
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It is believed that private collectors who have no intention of selling the other two cherished them; this may have explained the 2014 surge in interest in this particular item. In California, it was sold for an enormous $26.4 million in August of that year.
Ferrari 275 GTB4/S from 1967 Spider by N.A.R.T. – $27,500,000
Vendor: August 17th, 2013
RM Sotheby’s Monterey Sale, California, United States of America, auctioned off
In 2013, when this drop-top Ferrari was auctioned off in California, it surpassed all other cars sold at auction in terms of value.
Several motors surpassed its £27.5 million price tag. This clearly indicates the robustness of the classic car market over the past decade.
Not only did it appear in the 1968 Steve McQueen film The Thomas Crown Affair, but it was also retained in single ownership from the time it was acquired until the record sale in 2013.
