A Ferrari Sells for Over $14 Million Setting a New Record

January 3, 2014

Although, the 1964 Ferrari 250 LM, which recently sold for $14.3 million at the RM Auctions & Sotheby’s collaborative auction in New York, this wasn’t the most expensive car ever sold. In fact, it’s only the third most expensive Ferrari ever sold.

This was the first mid-engine Ferrari, which kept the body design from becoming too crazy. When this Ferrari was released, it was the template for many of the top designed today. The 320-horsepower, V12 engine was an engineering and technological marvel at the time. It was way ahead of the competition and came out with a very expensive price for the time.

However, part of the reason this classic car sold for such a high price at the auction is due to how rare it has become. Only 32 were made in 1964 and it’s one of the rarest Ferraris today.

This was the most expensive 1964 Ferrari 250 LM sold at auction. Many of these cars have changed hands over the years, but they rarely make it to an auction. Typically, they change hands for around $40 million, but not at an auction.

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The vehicle came in as the fourth most expensive car sold at auction. It was less than half the total price of the most expensive car ever sold at auction and about $13 million less than the most expensive Ferrari sold at auction.

Ferrari takes seven spots on the list of the top ten most expensive cars ever sold at auction now. Here’s the complete list.

1. $29,650,095 – 1954 Mercedes-Benz W196R Formula 1 Single-Seater
2. $27,500,000 – 1967 Ferrari 275 GTB/4*S N.A.R.T. Spider
3. $16,390,000 – 1957 Ferrari Testa Rossa Prototype
4. $14,300,000 – 1964 Ferrari 250 LM by Carrozzeria Scaglietti
5. $12,812,800 – 1953 Ferrari 340/375 MM Berlinetta ‘Competizione’
6. $12,402,500 – 1957 Ferrari 250 Testa Rossa
7. $11,770,000 – 1936 Mercedes-Benz 540 K Special Roadster
8. $11,275,000 – 1960 Ferrari 250 GT LWB California Spider Competizione
9. $11,000,000 – 1968 Ford GT40
10. $10,894,400 – 1961 Ferrari 250 GT SWB California Spyder