A 1962/63 Ferrari 250 GTO Berlinetta has become the most valuable and coveted car in the world when it fetched $38,115,000 (£22,843,633) at a Bonhams auction held at this week’s Monterey Car Week in California.

The 250 GTO, chassis number “3851GT”, was originally invoiced on September 11, 1962, and was the 19th Ferrari GTO to be completed. It was most recently owned by Italian enthusiast Fabrizio Violati, forming the centrepiece of his Collezione Maranello Rosso of precious Ferraris previously on view to the general public in the Republic of San Marino.

Violati acquired this 250 GTO in 1965 for 2,500,000 Lire, then around $4,000 USD or £1,400 Sterling, equating to around £22,000/$33,500 today. It was originally finished in metallic pale grey with lengthwise red, white and blue centerline stripes when acquired by its first owner, French privateer Jo Schlesser.

Total Ferrari sales today at Bonhams totalled just under $65 Million. Additional notable sales included:

1958 Ferrari 250 GT Series 1 Cabriolet – $6,820,000

1953 Ferrari 250 Mille Miglia Berlinetta – $7,260,000

1969 Ferrari 365 GTB/4 ‘Daytona’ Berlinetta Competizione – $935,000

1962 Ferrari 250 GT Short-Wheelbase Speciale Aerodinamica – $6,875,000

1978 Ferrari 312 T3 Formula 1 Racing Single-Seater – $2,310,000

Source: Ferrari

Tags: 2014 Monterey Car Week, 250 GTO Berlinetta, 3851GT, auction, Bonhams, classic car, Fabrizio Violati, Ferrari