SOLD! The Most Expensive Cars Ever Sold at Auction
By: Good2GoPublished: April 7, 2014
There’s nothing quite like the excitement of a good ol’ fashioned auction. And if you’re a car enthusiast, then you know that some of the rarest, most classic cars ever made usually come with a hefty price tag.
The price can vary greatly depending on the quality, rarity and desirability of a particular vehicle. And when it comes to auctioning off the most sought-after automobiles in existence, you can expect to see a high-intensity bidding war between some of the wealthiest people in the world that’ll keep you on the edge of your seat. We hope you have your bidding paddles ready as we list the most expensive cars sold at auction – of all-time!
Table 1: Graph shown is based on details of the table below.
|July 12, 2013||1954||Mercedes-Benz W196||Goodwood, West Sussex, United Kingdom||$29,967,886|
|August 17, 2013||1967||Ferrari 275 GTB/4*S NART Spider||Monterey, California||$27,841,786|
|November 17, 1987||1931||Bugatti Royale Kellner Coupe||London, United Kingdom||$20,343,468|
|August 21, 2011||1957||Ferrari 250 Testa Rossa||Pebble Beach, California||$17,182,830|
|November 21, 2013||1964||Ferrari 250 LM||New York City, New York||$14,477,729|
|June 15, 1986||1931||Bugatti Royale Berline de Voyager||Reno, Nevada||$13,984,669|
|May 17, 2009||1957||Ferrari 250 Testa Rossa||Maranello, Emilia-Romagna, Italy||$13,633,708|
|May 25, 2013||1953||Ferrari 340/375 MM Berlinetta ‘Competizione’||Tivoli, Lazio, Italy||$12,972,045|
|August 19, 2012||1936||Mercedes-Benz 540K Special Roadster||Pebble Beach, California||$12,090,736|
|May 18, 2008||1961||Ferrari 250 GT SWB California Spider||Maranello, Emilia-Romagna, Italy||$11,933,873|
*Price has been adjusted for inflation.
It’s no surprise that classic cars, sports cars and race cars dominate this list. But to the average person, it may be difficult to fathom why someone would pay tens of millions of dollars for a car that will most likely remain locked away. The value placed on items sold at auctions depends on a variety of factors. Generally speaking, the value of an item increases if it is rare, highly desirable, in good condition or has low production volume (meaning only a few were made). Other elements that go into consideration for the value of a particular vehicle include:
- Aesthetic design
- Nostalgia or generation effect
- Winning history at prestigious auto shows and motorsport races
- Has all original parts and components
- Has manual transmission (stick shift)
- Was owned by a famous person (in good standing)
The reason why the Mercedes-Benz W196 was the most expensive car ever sold at auction is because its chassis (framework) is the only model available in private hands instead of in a museum or owned by the original manufacturer. The high price is also attributed to its successful racing career. Driven by Juan Manuel Fangio, this car won the 1954 German & European Grand Prix as well as two consecutive victories in the 1954 Swiss GP at Berne’s Bremgarten circuit. You will also notice that the Ferrari appears on this list six times! That’s because this auto company is renowned for making beautiful, iconic cars in limited volumes. Ferraris also have a long, illustrious racing history that dates back to its founder, Enzo Ferrari
Once a vehicle of this prestige has been sold in auction, the highest bidder is not done spending money just yet. Car collectors often purchase insurance in case anything happens to the car whether it’s in use or sitting in the garage. And while you may not have a multi-million dollar classic car to insure, you still need car insurance coverage. Good2Go offers affordable car insurance for as little as $20 down so you can drive legal for less. That’s a price that can’t be beat. Going once, going twice, SOLD!
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