When it comes to foreign cars, Ferrari has set a precedent for speed and style. Another precedent Ferrari has set is high prices! That is probably why a 1962 Ferrari 250 GTO sold for a record $38 Million at the Monterey Car Week Auction It's very rare, especially here in Central New York, for you to see the Italian made vehicle mostly because of the weather and of course the cost. Even if you have a lot of money, I don't think many people up North are too keen on paying that much money for 3-4 months of good driving weather.

The people from Monterey Car Week knew that this GTO would sell for a high price, the questions was, how much?

They held a contest on their Facebook page for people to guess.

The final price that this Italian Beauty sold for was $38 million. I can't even imagine having so much money, that I would spend almost $40 million on a car I would barely drive. With how terrible other drivers can be, that would be a very expensive accident if anything were to ever happen to it.
 
Just ask Cameron from the movie Ferris Bueller's Day Off!

YIKES! Anyway, congrats to the proud owner of a 1962 Ferrari 250 GTO. Now can I borrow a couple hundred grand?