Ferrari 250 GTO Becomes Most Expensive Car at $52 Million

A 1963 Ferrari 250 GTO racer has become the world’s most expensive car, selling for $52 million.

The red competition car, formerly owned by the Greenwich, Connecticut-based collector Paul Pappalardo, was acquired by an unidentified buyer in a private transaction, said three specialist traders who independently confirmed the purchase and price to Bloomberg News. Recently, the car has been owned by a Spanish collector, the car website Barchetta said.