A 1962 Ferrari 250 GTO has been sold at RM Sotheby’s for $51.7 million, making it the most expensive Ferrari ever sold at auction.

The car was the only one of its model to be driven by the Ferrari racing team, including at the 1962 24 Hours of Le Mans, according to the RM Sotheby’s auction listing.

Gord Duff, RM Sotheby’s global head of auctions, told the New York Times that the vehicle had won numerous auto show awards in 38 years of single ownership by Ohio collector Jim Jaeger.

Mr. Jaeger bought the car in 1985 for $500,000, or $1.4 million in 2023 money.

RM Sotheby’s offered the 1962 250 GTO, one of just 36 made by Ferrari, for an unpublished estimate of $60 million.

The car auctioneer, partially owned by auction-house giant Sotheby’s, concluded its listing by calling it “the Holy Grail of the sports car pantheon.”

RM Sotheby’s did not offer identifying information about the winning bidder in the auction, which was held in New York.

“Whatever happens in the financial markets, a car of this caliber is a collector’s item, a once-in-a-lifetime opportunity,” RM Sotheby’s car specialist Michael Caimano told the Agence France-Presse wire service.

• Brad Matthews can be reached at bmatthews@washingtontimes.com.