Cheap-Ass Ferrari 250 GTO Sells For Just $38 Million

The esteemed auctioneers at Bonhams sold a 1962 Ferrari 250 GTO for a mere $38.1 million tonight. Man, what a cheap-ass whip.

Technically, the GTO didn't even go for $38.1 million. The hammer price was only $34.65 mil and the rest was a "buyer's premium," the New York Times (who else) reports. A couple of Ferrari 250 GTOs sold in the 30s over the past few years, that is until one sold for a cool $52 million last winter.

Many expected this 1962 GTO, an early car that killed a French Olympic ski champion at the wheel, to top $50 million.

Photo Credit: Bonhams