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RM/Sotheby's auctions at Monterey Week lived up to its billing, with renowned car collector Greg Whitten’s fabled 1962 Ferrari 250 GTO, chassis 3413, the star of Saturday night’s auction.

The car, Lot 247, fetched a hammer price of $44 million in just 12 minutes of vivacious bidding in a room absolutely buzzing with excitement. With the buyer's premium, the total price comes to $48.4 million. The winning bid was placed via an agent, with the new owner not yet known at press time. The extremely rare Ferrari was widely considered to be the most valuable vehicle to ever come to auction as detailed here.

To read more on Forbes:

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