This Ferrari GTO Will Probably Sell for Over $50 Million

On Thursday, around 5:30 pm PST, someone is going to buy a 1962 Ferrari GTO. They'll likely spend more than $52 million, which will make it the most expensive car ever sold at auction.

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The car is being sold by Bonhams at The Quail in Monterey, California. Why does the auction house expect to rake in so much cash? Because the GTO is one of the most beautiful, accomplished, and generally awesome race cars ever. Only 39 were made, so ownership is reserved for all-star collectors like Ralph Lauren and Walmart heir Robson Walton. And the specific GTO that's up for grabs is especially noteworthy.

In February 1962, Ferarri unveiled the first 250 GTO, or Gran Tursimo Omologato, the Italian term for a grand touring car approved for competition. The 250 dominated the world racing circuits in for years, kicking the asses of even feared competitors like the Jaguar E-Type. It won the 1964 Tour de France road race and competed in the 24 Hours of Le Mans. Its reign ended in 1965, when new regulations brought in tougher competition and ended its cascade of victories. It was one of the greatest race cars from an exceptionally glorious era of racing.