Update: The auction has ended, and dare we say, this may have been quite a deal. The final hammer price of $47 million is well below original estimates of $60M for this exceedingly rare 250 GTO. With fees added in, the final price climbs to $51.7M, a record for any Ferrari selling at auction.

The previous record holder was a 1962 Ferrari 250 GTO also sold by RM Sotheby’s. That car, one of four upgraded by Scaglietti, fetched $48.4M with fees included.

Peruse our original article below to learn more about what makes this particular GTO so special.

Today at 5:00 PM EST, there’s a possibility that a 1962 Ferrari 250 GTO could set a new record for the most expensive car to ever sell at auction. To achieve that goal, it must top the astounding $143 million commanded by a Mercedes 300 SLR Uhlenhaut Coupe during a closed-door auction in 2022. You can watch all the action live, right here at Motor1.

All 250 GTOs are exceptional, but this one is particularly important as it was the only Tipo 1962 campaigned by the factory racing team. The machine even scored a first-in-class finish at the 1962 Nürburgring 1,000 Kilometers. However, it failed to complete that year’s 24 Hours of Le Mans due to overheating issues.