RM Sotheby’s most anticipated Pebble Beach 2018 lot did not disappoint! The auction house had secured one of the most high profile sales of the weekend with a Ferrari 250 GTO. It is the second 250 GTO to cross the auction block in recent years and it smashed the record set by the previous version.

This particular 1962 Ferrari 250 GTO is now the most valuable car ever sold at auction. It hammered at a staggering $44 million, $48.4 million if you include fees. The car was eventually sold to a telephone bidder, one of three who provided fierce competition for the vehicle. the bidding was frantic at times, starting at $35 million and increasing in increments of $1 million at times.

So what makes this particular Ferrari 250 GTO, chassis number 3413 GT, so special. To start with, it is one of 36 examples built. It is a numbers-matching example offered with its original engine, gearbox, rear axle and factory Series II body. It had been owned for two decades Dr Gregory Whitten, prior to which it was campaigned as a Series I in the 1962 Targa Florio road race, winning 1st in class at the 1963 and 1964 events.

RM Sotheby’s also achieved more exceptional results including a 1957 Porsche 550A Spyder that achieved $4.9 million, and a 1956 Maserarti A6G/2000 Zagato which went for $4.5 million. The previous day, the auction house sold a 1963 Aston Martin DP215 Competition Prototype for $21.455 million.

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