You can buy this Ferrari 250 GTO if you have £35,000,000

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No, it's not a typo, and that figure is not missing a decimal point.

Ferrari's 250 GTO was effectively the final evolution of the marque's famous 250 model, which debuted in 1953 and ended with the last GTOs in 1964.

This model was the third auto off the line at the Ferrari factory in 1962, and it enjoyed a more than stellar racing career, winning the 1962 Italian National GT Championship once and the Targa Florio twice. Furthermore, with 300 race victories to the GTO's name it's ingrained in Ferrari folklore, serving to prop-up the sky-high estimate you see quoted here.

The Ferrari 250 GTO on offer, chassis no. 3413 GT, is the third of the 36 examples built, and began its life as a Series I vehicle. It functioned as a test auto, driven by Phil Hill at the 1962 Targa Florio, before being sold to its first owner, and one of Ferrari's favourite privateer customers, Edoardo Lualdi-Gabardi.

This 250 GTO, chassis number 3413GT, started its life as a works vehicle tested by American racer Phil Hill at the 1962 Targa Florio road race.

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Myers says: 'The fact that the GTO exists as it did in period, along with Dr Whitten's long-term, enthusiastic ownership, only adds to the car's impeccable pedigree'.

Not long after a 1963 Ferrari 250 GTOwas sold for a staggering $70 million, another is coming up for sale.

After Lualdi-Gabardi bought another GTO the next year, he sold this one to Gianni Bulgari (of jewelry fame), who had it converted by Ferrari's coachbuilder Scaglietti with Series II bodywork in '64. Under both Bulgari and subsequent owner Corrado Ferlaino's ownership, the GTO handily won its class in the 1963 and 1964 Targa Florio. The auto contested a total of 20 races in period, never involved in an accident, and not once failing to finish. However, the auto was updated with a Series II body by coachbuilder Scaglietti in 1964.

Owned since 2000 by former Microsoft chief software architect Dr. Greg Whitten, RM Sotheby's claims that previous owners include some of the world's most prominent Ferrari collectors. Whitten has been using his GTO in vintage events for 20 years.

Sotheby's is offering a red 1962 Ferrari 250 GTO at its Monterey, California, auction coinciding with the annual Pebble Beach Concours d'Elegance motoring week in August.

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