merely a no-frills used race car in the late 1960s and very early 1970s. Many of the vehicles were offered at or acquired for four-figure (USD) sums. In contrast, restored Duesenberg Model J's often sold for about $50,000 around 1970. From the late 1970s to the late 1980s, classic car values rose rapidly and the 250 GTO became the most valuable Ferrari model, touted as the Ferrari that most completely embodies the characteristics of the manufacturer. Prices fell substantially during the car market crash of the early 1990s, resulting in lows of $2,700,000 in September 1994 and $2,500,000 in May 1996. Prices began to climb again in the late 90s and have continued to rise through the present day. 250 GTOs have repeatedly broken records for most expensive car ever sold at auction or private sale. The current record for world's most expensive Ferrari was set in June 2018 when a 1963 250 GTO (chassis 4153GT) was sold to David MacNeil in a private sale for $70 million. On 25 August 2018, RM Sotheby's sold Greg Whitten's 250 GTO 3413GT at their Monterey auction. The final price inclusive of buyer's fee was $48,405,000, representing a new record for most expensive car ever sold at auction. The previous record was also held by a 250 GTO, 3851GT, which was sold at the Bonhams Quail Lodge auction in 2014. Scarcity and high prices led to the creation of several replica 250 GTOs on more common Ferrari chassis. Misrepresentations of the original cars, offered for sale at full market value, have been reported. Price History Chassis numbers See also Ferrari 250 Ferrari 250 GT SWB Breadvan, a 250 SWB modified by Giotto Bizzarrini and Piero Drogo for Giovanni Volpi, in order to challenge the 250 GTO References 250 GTO Vin. 3223 GT : https://pbase.com/ferrari250gto/250_gto_vin3223 Damaged 250 GTO : https://pbase.com/ferrari250gto/crash Bibliography External links A gathering of GTOs for the 45th Anniversary celebration Ferrari 250 GTO: Ferrari History 250 GTO Grand tourers Rear-wheel-drive vehicles Cars introduced in 1962